How to buy and sell NFT is now something that many people are looking for. The level of public awareness of NFT is increasing and making many people interested in learning about it. Apparently, by using the internet anyone can get a tantalizing money. Moreover, the virtual world some time ago was shocked by the presence of a young man, namely Ghozali, who managed to make a profit just by selling his selfies.
Not just any photo, but Ghozali changed the photo to NFT. With the uniqueness offered, Ghozali managed to sell his photos at fantastic prices. Ghozali’s luck is also desired by many people. Are you too want it?
If so, then you must know the various important ways and platforms to be able to sell or buy NFT.
How to Create NFT
Previously, did you understand what is meant by NFT?
NFT stands for Non-Fungible Tokens which is a technology blockchain new technology that allows artists to create identifiable and unique digital assets. NFT itself is a derivative investment from crypto. In general, NFT is a digital work that can be in the form of images, illustrations, photos, music, videos, and so on.
There is a difference between NFT and crypto, namely each NFT has its own uniqueness and is different from one another. This uniqueness is proof of ownership of an asset. NFT cannot be cashed, but NFT can be traded. For those of you who are really interested in art, pay attention to the various ways to make NFT below
Create Artwork
Just like selling in general, you must have a product that is offered to potential buyers. Likewise, if you are interested in entering the world of NFT, you must first prepare the product, namely a work of art. Decide what digital artwork you want to create and convert it to NFT. Various works that you can create are images, videos, music, GIFs or even various screenshots ((screenshot) related to various unique things.
Each NFT is unique with one owner, this is what makes NFTs valuable so they have a high price. As a creator, you must pay attention to the intellectual rights of a work. If not, then you will be penalized for committing copyright infringement. Make sure you create a piece that is unique, different, and has a unique value to invite collectors to buy it at a good price.
Mining NFT and Choosing Blockchain
After you’ve finished creating and selecting the artwork you want to sell, it’s time to convert those digital assets into NFT. This process of changing the shape of the work is known as NFT minting. You need to go through this process to be able to create and sell NFT on various marketplaces.
Mining NFT is a process of converting digital assets into NFT assets and storing them on the Blockchain. You can choose a blockchain for NFT, one of the most popular among creators is Ethereum.
Setting Up a Digital Wallet
The most important way to buy and sell NFT is to prepare a digital wallet. This digital wallet is an important part of NFT transactions. Digital wallets are used to convert dollars into cryptocurrencies. Using this digital wallet, you can buy cryptocurrencies to be able to process NFT sales.
There are various well-known NFT digital wallets such as MetaMask, Trust Wallet, Alpha Wallet, Math Wallet, and Coinbase Wallet.
How to Sell NFT
Have you prepared your artwork well and are now ready to sell it? How to sell NFT is not too difficult and can be done by anyone.
Can’t wait to find out how to sell your unique artwork? Let’s see the following steps
Define Marketplace
If you want to sell a product online, what do you do? You can use the marketplace as a place to sell that functions like a shop. Likewise with selling NFT, you need a platform to showcase your work. There are various well-known international and local marketplaces for NFT transactions.
Some of the favorite and popular NFTs are Axie Marketplace, Larva Labs, Rarrible, Mintable, NBA Top Shot, and OpenSea. Each marketplace has its own uniqueness, for example the NBA Top Shop, which does provide various NFTs in the form of videos of iconic actions in the NBA.
You can do research first to determine which marketplace has advantages and suits your needs.
Create Account
After choosing a marketplace, of course you have to create an account. If you really want a marketplace that has the largest number of users and is the largest in the world, then you can choose OpenSea, as is also used by Ghozali.
How to register for OpenSea is quite easy, you just need to visit the OpenSea website and then create an account. Don’t forget to connect the account with the digital wallet you have.
In general, OpenSea users choose MetaMask as their crypto digital wallet.
File Upload
After you have successfully created an account on OpenSea or other marketplaces, now is the time to upload your NFT.
In uploading the NFT, a fee is required to print the NFT and make sales. Each marketplace has different terms, therefore you must study each marketplace terms. Suppose you choose OpenSea as a trading platform, then you can follow how to sell NFT on OpenSea which is quite easy.
Click the profile picture at the top right then click “profile”. Select the NFT to be sold, then click Sell at the top right to go to the listing page.
Manage Sales Information
Of course, you must provide complete information regarding the sale of NFTs. You need to set a product price so that buyers can see how much your NFT is worth. In general, there are 2 sales systems, namely with a fixed price and an auction price. If you set a fixed price, the buyer will immediately buy according to the set price.
The way to sell NFT on OpenSea that is a favorite for creators is the auction system. You need to specify a starting price/opening price. Then, you also need to set the duration of the auction, whether 3 days, 1 week, 1 month, or adjust as desired.
Done, now your NFT has been published and buyers can see your NFT.
Promote
Just like selling any other product, you also need to promote NFT. By promoting your product, more people will know that you are selling NFT. You can share the link through various social media to attract the attention of others. One of the social media platforms that is often used to promote NFT is Twitter.
Don’t forget to provide complete information for each NFT you sell. You can also use hashtags when promoting so that you can reach a lot of people. The tip to be able to sell NFT is to collaborate with other creators.
How to Buy NFT
Are you interested in buying a unique digital masterpiece? If so, then you can find a variety of unique and exclusive NFTs.
What’s more, now you can get many things just by buying them on the NFT marketplace. Including buying NFT game items that can make the game more exciting. You are interested in buying NFT but confused about the steps to collect NFT? Here are the steps you need to take.
Creating an Account on Marketplace
The way to buy and sell NFT is that you must have an account in the marketplace. This is to allow you to interact with the creators. You can find a marketplace that provides NFT according to your preferences. If you really want to find a diverse collection of NFT, then you can create an account at OpenSea. The trick is the same as creating an OpenSea account to sell NFT.
Creating a Digital Wallet
If you want to buy NFT, then you also need to have a cryptocurrency digital wallet. Make sure that you use a digital wallet and crypto currency in accordance with the currency prevailing in the marketplace.
If you want to transact on OpenSea, then you can create a MetaMask digital wallet.
Here are the steps to create a MetaMask digital wallet that you can do
- Download the MetaMask application on mobile devices or computer devices
- Install the application then click the “create new wallet” option
- You will find the terms and conditions of the application, read and understand the terms then click “I agree”
- Create a password for your MetaMask account provided it consists of a combination of letters and numbers. Retype the password then confirm
- After creating a password, then you also need to create a recovery phrase to be more secure, make sure you remember this recovery phrase
- Done, you already have a MetaMask account. Next, connect the digital wallet with the marketplace account
Select NFT Collection
Now, many creators are creating unique and classy NFTs on various platforms. You can find a collection according to your preferences and find the NFT that suits your needs. Go to the explore marketplace page to find a variety of quality NFT collections. You can also see the prices of various existing NFT collections.
You can see the entirety of the NFT collection in the marketplace.
Use Filter Features
Too many collections in explore page? You can use the filter feature to select the NFT as you wish. For example, you want to see the latest NFT, then set the NFT filter by searching for the latest NFT. You can also look for NFTs that use auction or fixed price sales systems.
Buy
If you want to buy NFT at a fixed price, then you can buy it right away. Make sure, your cryptocurrency is sufficient for the selected NFT price. However, if you feel the price is too expensive then you can also bid by pressing the “Make an Offer” button. Creators will consider their NFT prices.
If you buy an NFT that is sold under an auction system, then you can submit a price according to the conditions. You will be competing with other potential buyers. If you give the best price, then you can get the NFT.
Do you already know how to buy and sell NFT? Do you want to be a creator or do you collect NFT as an investment? Keep abreast of this exciting NFT development and reap the benefits.
