A collectable digital asset that holds value in the form of cryptocurrency is NFT. Anyhow, we can use NFT as a non-fungible token. It means that we can use it in the form of cryptocurrency. Anyhow, it has a unique nature and we can’t exchange it like-for-like. Its file can store extra information. This thing has made NFT a special crypto coin. We can use this extra information in the form of art, video or music. It is holding information. That’s why we can easily buy and sell it just like other types of art. For the illustration of this process, we take an example of the NFT platform Rarible. Here, we will discuss how to make NFT and sell it online.
Arrange Some Cryptocurrency:
First of all, you will have to make NFT. To make NFT, you will have to pay to the platform. Most of the platforms ask you to make payments in the form of cryptocurrency. When you will go to pay the money in cryptocurrency, you should know that its value fluctuates massively. Therefore, it will be difficult to you to figure out the cost and profit of your project. If you want to buy cryptocurrency, first of all, you will have to create a digital wallet. After that, you can connect it to the NFT platform.
Create a Digital Wallet and Add Money:
You may get lots of platforms to create a digital wallet. Anyhow, Meta Mask is the best platform to create a digital wallet. By agreeing to its terms and setting your username and password, you can easily create your digital wallet. After creating the digital wallet, now, it’s time to add money to this wallet. To add money to the digital wallet, you will have to click on the buy button. Here, you can buy cryptocurrency by providing your credit card information.
Connect Your Digital Wallet to NFT Platform:
After depositing ETH in your digital wallet, you will have to connect it to the NFT platform. Here, you will have to spend some ETH. No doubt, lots of NFT platforms are available on the internet but we are recommending Rarible.com. After opening this platform, you may find add wallet button preceding the right adjacent of the display. When you will tick on it, it will redirect you to the digital wallet provider. After accepting its terms and conditions, you can easily connect it to the NFT platform.
Upload Your File:
Now, it’s time to make NFT. For the creation of the NFT, you may find the blue ‘Create’ button. Here, you will find different options to make NFT. You should select ‘Single’. Here, you can upload the file. After uploading the file, you can turn this file into NFT. You can upload files in any format. Anyhow, your file’s size should not exceed 30MB. When you will upload your file, it will show its preview on the right side. This preview will provide an idea how your file will look like in NFT.
Set Up an Auction:
When you will go to the next part of the form, you will get three selling options for your NFT artwork. First, you can select the ‘Fixed Price’ option. It means that you will have to select the fixed price and sell this artwork instantly to someone. Secondly, you can select the ‘Unlimited Auction’ option. It means that people can make bids until someone will accept these bids. At last, you can also select ‘Timed Auction’. It will take place for a certain time only. Here, you should understand the tricky option. This option is relevant to the minimum price. You should select such a minimum price that should not swallow up your profit.
Unlock Once Purchased:
Recommended by a dissertation help firm, you should adjust 1ETH ambitious price and you should provide only seven days to the people to make bids on your NFT. When someone will purchase your artwork, you should unlock it. It will provide a full and high-resolution version of your artwork to the buyers. If they want a full and high-resolution version, you can also provide a secret download link to them. When you will make NFT, you will also find the ‘Choose Collection’ option. You should not change it.
Describe Your NFT:
If you want to maximize the selling chances of your NFT, you should add a title and description. To make your listing perfect, you will have to spend enough time. Here, you should also mention the percentage of royalties on reselling the artwork. If you will add a higher reselling amount, you can earn more money. Anyhow, this thing will deter people from reselling your artwork. As a result, you can’t make enough profit from your artwork. Therefore, you should select a normal reselling percentage. Anyhow, it is an optional field in your listing. If you don’t like to get reselling percentage, you can leave it.
Pay the Fee:
No doubt, you will have to create a listing to make NFT. If you want to create a listing, you will have to pay its fee. When you will click on ‘Create Item’, it will redirect you to your wallet to pay a fee. If you have enough funds in your wallet, you can pay a fee. In some cases, you don’t have enough funds to pay a fee. Under such a situation, you should not go back. Its reason is that it will redirect you to your credit card information to add money. In the beginning, it will show a low fee. When you will go further, it will charge an extra fee for the creation of NFT. If you want to make NFT, you will have to agree on this fee.
Here, we have clearly and simply explained the process to make NFT. If you will follow this process, you can also calculate the creating and selling price of NFT. Anyhow, the fluctuating nature of cryptocurrency will create some confusion. The lack of transparency in the cryptocurrency platforms can also create some problems. Before creating an NFT, you should understand the complete process. To create NFT, you will have to create a digital wallet. You can use this digital wallet to buy and sell artwork. To add funds in digital wallets, you can connect them with your credit card.