Step by step guide to creating and selling your own NFT and being successful.
Selling your NFT, or non-fungible tokens will be the future since the NFT market Worth skyrocketed, according to Thursday's NonFungible.com report, which was created with support from L'Atelier BNP Paribas, the total value of all NFT transactions worldwide jumped 21,350% to more than $17 billion in 2021, from $82.5 million in 2020.
What do you need to be successful in this Market?
To be successful in the NFT Market is not enough just to be a great artist, you will also have to be prepared to invest in advertising or put your SEO skills to work, or try and find some partners to work with to fill all the gaps your project need.
For example: If you are a great artist you don't want to be a partner with another great artist, I'm sure that 2 artists are better than one, but you will also need some experts in the advertising and crypto market.
Yes, people who understand the crypto market are much more familiar with NFTs and they will be valuable as a partner.
You also want to partner with someone with good SEO skills, with someone with a great vision or why not with an entrepreneur to fill the gaps in your project.
Making a business plan is also important for your success, this will help you and your partners to stay focused on your goals and to know exactly what you need to do.
How to start
Buy Cryptocurrencies for your wallet
NFTs work only with crypto, most NFT marketplaces use the cryptocurrency Ethereum, but they may also use other cryptos that include Polygon, Solana, and Polkadot.
These are the NFT tokens take I recommend the most.
Ethereum is the most popular because is more secure but the gas fees are very high (best for big projects).
If your project is small I recommend starting with Polygon, Solana, or Polkadot.
Creating a digital wallet
There are a lot of digital wallets, but one of the best and safe one is the Metamask wallet.
MetaMask is the crypto wallet trusted by more than 21 million people worldwide, it is free and secure.
MetaMask supports you with a key vault, secure login, token wallet, and token exchange, and it’s all you need to manage your digital assets.
It provides the simplest way and most secure way to connect to blockchain-based applications and you will always be in control when interacting on the decentralized web.
With Metamask wallet, you can interact with applications like OpenSea, Blockparty, Axie Marketplace, Larva, Rarible, SuperRare, and so on.
Create an outstanding art
Creating an original design can be difficult, but there are many artists who will work with you to create beautiful and original work.
If you don't have the skill set or the time to create your own art, it's worth looking into hiring an NFT designer to do so.
Art is a great investment because it is both original and one of a kind.
Decide how much stock you want to sell:
The first step in designing a successful NFT is deciding how much stock to produce.
Producing too many items can lead to low sales numbers, but not producing enough items may mean that customers can't get their hands on them.
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Create a utility
One of the main motivations for creating a Non-Fungible Token is to sell it.
A lot of people create NFTs not just to use them, but to sell them. However, if you're going to sell your NFT, it's important that you think about the utility of the item.
Think about what problem your NFT solves and emphasize that in your marketing. One way to do this would be by highlighting why someone would want to buy it or what you plan on doing with proceeds from its sale.
But how do you determine what utility should your project have?
- First, you have to look into the utility of your token. This means that you need to figure out what the token will do and how it will be used in order to make sure people want to purchase it.
- Second, you need a legal overview that outlines if there are any regulatory issues with selling tokens in your country or jurisdiction.
- Third, you need to think about what your marketing strategy will be. Will you be using an ICO or BTO? Do you know where your target audience is?
- Fourth, keep in mind that it's important for the user experience on your website to be good and for buyers to have the chance to buy your tokens easily.
- Finally, after all this work, when somebody decides to buy from you, they must feel comfortable doing so. They should trust that their private keys are safe and their tokens are not counterfeit.
Upload your art on Opensea
Opensea is the best choice when it comes to NFT Marketplace, that's because is the biggest market when it comes to Non-Fungible Tokens and most traders use Opensea.
Creating an NFT on OpenSea is super easy. This guide will help you to set up your first NFT. Click here to read the article.
It's not enough to be a brilliant artist to succeed in the NFT Market; you'll also need to be willing to invest in promotion, use your SEO skills, or find some partners to help you fill in the gaps.
Most NFT marketplaces use Ethereum, however, others such as Polygon, Solana, and Polkadot may be used as well.
Remember that the utility is equally vital in getting people interested in your NFTs, so don't forget to design one.
Now is the time to begin:
There's a risk you won't get everything right the first time; you'll almost certainly make mistakes, but this isn't a bad thing. Is better to make mistakes sooner than just waiting for the "right moment", the right moment is now.