The procedure of establishing an NFT (also known as minting) will be fairly simple if you’re familiar with cryptocurrencies. And if you don’t, don’t worry; it’s not difficult; all you need is some guidance, which is why we’re here. There are five fundamental steps to selling your NFT:
Create a cryptocurrency wallet
First of all, it’s important to understand that NFTs operate on the blockchain, and therefore require you to have a crypto wallet to transfer and store NFTs, and buy/sell them.
If you do a simple Google search you’ll find tons of wallets to choose from, but some of the most popular wallets are MetaMask and Coinbase Wallet. Simply pick the wallet of your choice, download it, and get set up.
2. Put Money Into Your Cryptocurrency Wallet
When you convert your digital work into an NFT, you’re basically publishing a transaction on the blockchain, which costs you money because it requires the network to do some work. A “gas fee” is the name for this tiny fee.
To ensure that you can pay the price and mint your NFT, you’ll need enough cryptocurrency in your account to cover the cost. You’ll need to purchase some Ethereum (or whichever cryptocurrency you choose to use), which you can accomplish with MetaMask or Coinbase Wallet.
It’s important to note that gas fees aren’t set in stone and are determined by the network’s current price. Each NFT will cost between $50 and $150 on average to mint.
3. Decide on an NFT market place.
In order to actually create an NFT and allow people to purchase it, you will need to use an NFT marketplace. There are many marketplaces to choose from, including Rarible, OpenSea, Mintable, KnownOrigin, and SuperRare. OpenSea is the most popular one, so we’ll use it for the rest of this walkthrough.
4. Connect the NFT Marketplace with your cryptocurrency wallet.
When you go to OpenSea and select “create,” it will prompt you to connect your wallet. To connect your wallet to the marketplace, simply click it and follow the instructions.
5. Mint Your NFT(s)
It’s really straightforward to follow the steps on the marketplace and create the actual NFT once you’ve set up a wallet, funded it, and connected it to the marketplace of your choice.
Most essential, you’ll need to upload the work’s actual file (picture, video, etc.) and choose the sale terms. Consider the following scenario:
Will it be sold at auction or for a set price?
How long will it be on the market?
Will you be paid royalties for every sale in the future?
