Co-Founder of KryptoGO USA (SaaS provider for affordable and lightweight KYC/AML solutions) Jason Hsu, one of the top leader expert on the crypto industry, explain from scratch, how to make and sell your NFT
Jason explains, memes of kittens traded as if they were paintings, tweets auctioned, collages of images sold for tens of millions of dollars, specialized art galleries (also in Italy): digital works guaranteed by an NFT, a cryptographic certificate protected by the blockchain technique, are the phenomenon of the moment, online and also in the real world.
The major applications are in the field of music tracks, video games, collectible gadgets and insurance. The developments in perspective can be practically infinite, being able to go to represent also tangible objects, making certain the transactions. Today NFTs represent assets with considerable fluctuations in value, for two different reasons: on one hand for the quotation of the cryptocurrency in which they are priced and on the other hand for the supply and demand of the single object. Let’s therefore see in detail how to sell NFTs.
Once you have created your NFT and entered it into the blockchain, you can sell it. This is optional, meaning you can also just decide to keep it. If you decide to monetize it, you can sell it as a single object, as if it were a painting, or as a multiple object, as in the case of a piece of music. You can also decide if you want to sell it with a fixed price, with a timed auction, similar to those of Ebay, or examine the offers that are made without establishing a duration of the auction or a minimum starting point.
In case the sale is concluded, the reference site will take a commission on the payment that will be made in cryptocurrency. This implies that the exchange is immediate and certified by the blockchain in both the payment and the delivery of the NFT.
NFTs can be created through one’s own creativity and can meet the favor of the public. In this way, you can earn like someone who paints a painting and sells it or someone who creates a piece of jewelry and puts it up for sale on sites like Etsy. This, however, is not the only way you can make money with NFTs. Even those who don’t want to or don’t know how to create files that can be appreciated, can have the flair to spot trends in the tastes of buyers of these rare items. You can thus earn, as happens in any trade, by buying at a price and reselling at a higher price.
This is the same principle as trading: you try to identify undervalued items, buy them and resell them at the highest possible price.
Sell NFT on OpenSea
In order to trade on OpenSea, you need to own ETH on the Ethereum network or the Polygon network (Ethereum’s layer 2). While this may seem like a rather obvious step, if you are an artist and have never purchased cryptocurrency, first you will need to register with an exchange in order to purchase a certain amount of ETH that you will need to pay for transactions.
At the moment the commissions on Ethereum are very high (even hundreds of euros), so you might prefer the Polygon network where the commissions are just a few cents.
Once you’ve signed up for a crypto exchange, you’ll need to buy ETH (Ethereum’s currency) and then withdraw it to an external wallet. Again, if you are not familiar with how crypto wallets work, we recommend our guide to cryptocurrency wallets. For OpenSea it’s fine to use MetaMask or Trust Wallet which are simple and free.
Once you have transferred your ETH to your external wallet, you are actually ready to sell your first NFT.
Through your wallet’s built-in browser (whether it’s MetaMast or Trust Wallet), go to opensea.io and open the hamburger menu in the top right corner. Choose “account” , “profile” and you will be able to choose a username and avatar for your profile. You will also be asked for an email to associate with your account.
The connection of your wallet to OpenSea should be automatic, otherwise a message will appear asking you to connect and you can choose the most correct solution from the list of options. You’ll find Trust, Metamask but also other wallets or WalletConnect, a standard used by many hardware wallets.
Once you’ve set up your account, go back to the OpenSea homepage and click on “create” – you’ve just started creating your first NFT.
In this screen you’ll have to upload the image you want to sell as an NFT and then add some information such as name, description and the quantity you want to make available (in case it’s not a unique piece).
Next, you’ll have to choose between the Ethereum or Polygon blockchain (depending on your choice, you’ll pay commissions accordingly) and set the auction type: fixed price or best offer.
At this point you are done. You’ll be asked to pay for the transaction to notify the sale, and all you have to do is wait for someone to buy your artwork!
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