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In recent years, non-fungible tokens have not only become one of the strongest market trends, but have also begun to bring astronomical profits, breathing new life into digital art.

NFT is used to the fullest by established artists whose names have long been heard. But the main value of tokens is that they allow any talented newcomer to express themselves. Judge for yourself, if earlier such people had to go through seven circles of hell, trying to get into significant exhibitions or selling their paintings on the street, now it is enough for them to digitize their work, turning it into NFT and selling it, if not for fabulous, but still money. .

What can be sold and bought

The NFT market is huge. With their help, you can sell and buy not only obvious paintings, photos and gifs, but also songs and poems, individual memes and videos, trading cards and even domain names. And, mind you, this is not an exhaustive list.


In fact, NFTs provide a circulation of any works of digital art, and there have already been many precedents on the market for their use for the sale and purchase of quite tangible things – sculptures, stamp collections, etc. For example, not so long ago, a real art object worth more than 130 thousand dollars was sold at Christie’s auction.

  • What is NFT: explained in simple terms

    Technology

    What is NFT: explained in simple terms

Of course, NFT has many pitfalls, and the purchase of a token itself, in fact, does not mean anything. It all depends on what rights the buyer has in the NFT itself. This can equally well be a complete transfer of ownership and copyrights or a banal right to use an object without the possibility of reselling it and making a profit. However, all this is equally true for ordinary paper contracts – as they say, read the fine print.

How to buy an NFT picture

To get started as an NFT buyer, you will need a crypto wallet and a pretty decent supply of coins. And here the first nuances of token trading begin. Although quite a few different cryptocurrencies have been used recently to buy and sell NFTs, it should be understood that ether is still the main, most universal means of payment. The same applies to all kinds of crypto wallets. The list of supported wallets differs depending on the site, but whatever the site, MetaMask and Trust Wallet are almost always present in it.


Well, since the universality of payments is the main advantage of any buyer, we recommend choosing these payment instruments. At least at the beginning of your “career”, until you have decided on your preferred marketplace.

Let’s imagine that we opened a MetaMask wallet and put some ether there. What’s next? And then you need to register on one of the major marketplaces. For beginners, we recommend using the super popular OpenSea. To register there, go to the platform website and click on the icon in the upper right corner of the screen. After that, you will be asked to select the wallet you use (in our case, it is MetaMask) and link it to the marketplace.


It’s time for shopping! “Walk” around the marketplace in search of the products that are most interesting to you. Prices for them vary from completely symbolic to sums with 5-6 zeros. Some items can be bought immediately using the “Buy now” button, while others will have to be competed in the auction.


Even if the NFT costs next to nothing, you still have to pay a fee to complete the transaction. Therefore, make sure that the wallet has the necessary amount to cover the price of the goods and the commission. Well, the latter usually strongly depends on the time of day, the workload of the platform and other factors.

After purchasing an NFT painting or other product, it will appear in your crypto wallet. What to do with it next is up to you.

How to sell an NFT painting

To sell your painting or illustration, you will also need a wallet, which will receive the amount from the transaction. And of course, you need an NFT token to sell. We already wrote about how to create it earlier, so it’s hardly worth dwelling on this moment.

  • How to create your own NFT: understanding the nuances

    Technology

    How to create your own NFT: understanding the nuances

Beginning creators, again, it is best to stay on some hyped and popular platform. Yes, the competition there is rather big, but the number of potential buyers is proportionately large.

Suppose that OpenSea has become such a platform. Register there according to the instructions already given above and add the tokens you created to the collections. Now it remains to find the NFTs you need in the crypto wallet and click the “Sell” button in the upper right corner of the screen.


After that, you will be redirected to a page where you can specify the cost of the token and the sale model – at a fixed price or through an auction.


Here you also have the option to choose the time of sale. By default, the options are 1 day, 3 days, or a week, but you can set any other time using the calendar.


In addition, you can reserve an item for a specific customer. To do this, simply enter its address in the appropriate field.


At the bottom of the window, you will see the system fee (2.5% in our example), in addition to which you will be required to pay up to 10% of the Creator Fee. Now you need to confirm the listing of the token for sale and pay all commissions, after which the product will appear on the site.

How much can you get for selling NFTs

As we wrote, the cost of each specific token is set by the user himself. Another question is whether they will buy it for this money. The actual amounts vary greatly. They depend on the fame of the author, the creativity and uniqueness of the work, and, to be honest, the low or, on the contrary, high self-esteem of the author himself.

On marketplaces, it is easy to find paintings for a couple of dollars or real masterpieces worth hundreds of thousands and even millions of dollars. In other words, it all depends on your ambitions, goals, and of course free funds.

Read also

  • What is NFT: explained in simple terms
  • How to create your own NFT: understanding the nuances

tags

blockchain

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