digital art into NFTs and sell it

1. How to convert your digital art into NFTs and sell it? Designing a Non-fungible Token or NFT artwork can be fun and financially lucrative. However, only a handful of people are accurate in converting their digital arts into NFTs for selling purposes. To your utter surprise, the process is not at all complicated but pretty simple. Once you’ve designed your digital artwork, you can kick start the process of uploading, storing, and selling it on a blockchain technology. Wondering how to go about it? Cybertech is here to help you out. So, let’s get started. •Make a digital wallet. In order to store and transact cryptocurrency, you need a place and this is where digital wallets come into the picture. Generally, it’s a good idea to choose a wallet that is compatible with the Ethereum (ETH) or ether blockchain technology, is the most common cryptocurrency used in NFT art work sales. You can choose other cost-effective blockchains and cryptocurrencies, but keep in mind that most collectors and buyers use ETH. Using a different currency may lower your chances of selling your art. You

2. can fetch the list of compatible wallets from Opensea.io which is one of the largest NFT marketplaces out there. •Pick a marketplace. Once you have a wallet in your name, all you need is a marketplace. A marketplace is the platform wherein you will be listing, minting and ultimately selling your NFT art work. Some of the top notch marketplaces are Opensea, Nifty Gateway, or Rarible. People usually opt for Rarible and Opensea.io since they offer free lazy minting. This means you can list your NFT art work, sell it, and the buyer will pay the minting price once the transaction is finalized. Whichever marketplace you choose, keep an eye on the platform fees associated with listing your NFT art work, and the type of cryptocurrencies they support. Read More: What Are the Benefits of Using Blockchain and React Native for Mobile Application Development •Get, set and buy cryptocurrency. As mentioned, ETH is regarded as one of the most popular cryptocurrency of all times. On top of that, it was one of the very first blockchains, and its eponymous cryptocurrency has become one of the most widely used in the world. Keep in mind that whatever crypto you use, any transactions on the blockchain technology, including minting and listing fees will cost money, so you’ll have to invest in some ETH before you can get started and list your artwork for sale. •Wallet needs to be connected to the chosen marketplace. It’s time to establish the connection between your wallet and the picked marketplace. Opensea.io has a wallet icon in the top right

3. corner through which you can seamlessly link your wallet in just a couple of clicks. •Upload your digital artwork. Once the connection is established, its time to upload your artwork. Opensea.io has one of the simplest upload processes out there, simply click the ‘Create’ tab and you’ll be taken to an upload workflow. In addition to that, Opensea.io and other platforms give the option to set royalty amounts, which will allow you to take a percentage cut up to 10% of any future sales of your NFT, even after you’ve sold it to its original buyer . •It’s auction time! Most NFT marketplaces will allow you to set your listing type as either an auction or a fixed price. These are the two common ways to buy and sell NFTs. An auction will allow you to set a reserve price, i.e. the minimum bid required to allow the sale of the NFT to go ahead. If the reserve is not met, the sale will typically not proceed. A fixed price is the listed price for an NFT. While fixed prices offer the prospect of immediate and predictable sales, auctions have more unpredictable returns, with some NFTs going for much higher than they would have if they’d been listed with a fixed price. Ultimately, it’s up to you how you want to price your NFTs. Keep in mind that NFT art is becoming increasingly competitive, and you will need to justify a higher floor price through unique artwork, amazing functional benefits to owning your NFT art work, or a combination of both. •Sell your NFT. Selling NFTs comes with a variety of fees, depending on the cryptocurrency and platform you use. Platforms like Opensea have a simple fee structure, charging 2.5% commission only once

4. a transaction is completed. Other platforms like Nifty Gateway charge a much higher commission of 15%. While this is probably cheaper than a physical art gallery, it’s still the highest commission out there at this time. NFT fees are actually a little bit complex and can vary a lot. Every NFT platform has its own fee structure, which can include listing fees, minting fees, commission, or account membership fees. Different blockchains have different processes and fees. Data size, project quality, transaction speed, mint time, and gas fees all play into the cost of an NFT. Blockchain technology transaction fees change according to the network’s supply and demand. In periods of high demand, gas fees can increase significantly. If you find gas fees seem too high, wait for another time to transact on an NFT. Cryptocurrency prices are volatile and can fluctuate significantly, which also influences the costs associated with NFTs in ‘real money’ terms. That’s it! So, this was all you need to know about selling your digital art as NFT art work. Wish to read more such informative articles? Visit us here https://www.itscybertech.com/.