How to turn Art Into Extraordinary NFTs?

Content creators are commanding a huge value for their work now. The wide adoption of NFTs is the reason. Today, artists have complete freedom in pricing their content, showcasing it to their target audience, and selling it via auctions on decentralized marketplaces. Are you an NFT creator looking to monetize your unique work? Let us know the process to turn art into extraordinary NFTs.

Create the artwork

Paintings, portraits, illustrations, sculptures, drawings, images, sketches, caricatures, collages etc can be sold as NFTs. Hence, artists should create attractive content that will appeal to NFT collectors. They must use the right texture, include a mix of visual and written elements, and add effects. Subsequently, creators should choose the right file format for their artwork. For instance, NFT marketplaces like OpenSea allow artists to upload images, audio, videos, and 3D models. With a maximum limit of 100 MB, creators can use file formats like JPG, PNG, GIF, SVG, MP4, WEBM, MP3, WAV, OGG, GLB, GLTF etc.

Choose the right NFT marketplace

NFT marketplaces like OpenSea (Ethereum, Polygon, Klaytn, and Solana) and Rarible (Ethereum, Tezos, Flow, and Polygon) are cross-chain. They have separate categories for selling artwork. Moreover, creators can also mint their NFTs on art-exclusive marketplaces like SuperRare, Foundation, and Nifty Gateway.

They can use the lazy minting option on OpenSea and Rarible to not pay gas fees. Hence, the buyer will pay gas fees when they purchase the NFT. Therefore, artists can select the right NFT marketplace based on the reputation of the platform, features, security measures, and the fees to be paid on the sale.

Buy cryptocurrency

An NFT creator must possess cryptocurrency. It is needed for minting the NFT, paying gas fees, and processing transactions. They can purchase Ethereum (ETH) from crypto exchanges like Binance, FTX, Coinbase, Kraken, and KuCoin. Since the price of ETH keeps fluctuating, creators ought to make a timely purchase.

Connect the digital wallet to the NFT Marketplace

An NFT creator should sync their software wallets to the marketplace. For instance, OpenSea allows artists to use hot wallets like MetaMask, Coinbase Wallet, WalletConnect, Phantom, Glow, Fortmatic, Kaikas, Bitski, Venly, Dapper, Authereum, Torus, Portis, OperaTouch, Trust Wallet etc.

Rarible, another reputed NFT marketplace has also partnered with several wallet providers. Creators can connect their digital wallets after choosing the blockchain network. The various options include Ethereum (MetaMask, Coinbase Wallet, Torus, Portis, and MyEtherWallet), Tezos (Beacon and Temple), and Flow (Blocto).

Create an account on the NFT Marketplace

An NFT creator must sign in to the marketplace and accept the terms of service. Later, they should update their profile. Artists must enter information like Display Name, Custom URL, Bio, Email Address, and Social Media accounts. Later, they must authenticate themselves and verify their profile.

Upload the artwork on the NFT Marketplace

In case, the creator wants to upload his/her artwork on OpenSea, he/she should head over to the NFT item creation page. The artist should upload the file, name it, and add a detailed description. The NFT creator can customize the collectible by mentioning properties, levels, and stats. He/She can also add unlockable content. After customizing the NFT, the artist should press the create button. Later, they must choose a specific blockchain network and mint the NFT.

Sell the NFT

Auctions are the best option for creators to sell their NFTs. OpenSea allows artists to opt for English or Dutch auctions. An English auction operates like a fixed-price listing. Hence, the highest bidder will win the auction once the seller accepts the offer. A Dutch auction functions differently. The price of the NFT keeps decreasing over time. Buyers can make an offer anytime or buy the NFT in the listed currency.

Sellers can also set a reserve price for their NFT. Hence, the NFT is sold only if bids are received equal to or greater than the reserve price. A creator can also accept bids made below the reserve price during the auction but has to incur gas fees. Likewise, NFT marketplaces like Rarible allow creators to sell their NFTs in 3 ways (Fixed Price Sale, Timed Auction, and Open Auction).

Conclusion

Going forward, the NFT art market will continue to grow at a rapid pace. Hence, unique digital assets that are a worthwhile investment will witness greater demand from buyers. Are you an NFT creator? Follow the above-mentioned steps, sell your artwork on a blockchain-powered marketplace, and make a fortune.