How to make money in NFT?

How to make money through NFTs? In this article on shetcoiner site, we want to consider this issue; so stay with us until the end of this article.

What is NFT?

NFTs or non-fungible tokens, are pieces of cryptographic tokens that exist in a Blockchain. They are used for real world items such as artwork, music and even virtual property. Unlike crypto currencies, NFTs cannot be traded or exchanged because they are not the same. They are baseball cards or rare coins that are available among such assets.

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They are also used to buy and sell digital items such as tweets, artwork, game and virtual estate. 2021 was the year of NFT growth with sales reaching $2.5 billion in the first half of the year. There are two ways to make money with NFT. In this part, we will examine them.

How to sell NFTs?

NFTs are usually sold in markets with different processes and platforms of your choice. Basically, you upload your content to the marketplace, convert it to NFT and wait for it to sell. This feature is very similar to Amazon or Etsy. If you already have a collection of digital content that you have the right to print, there are several things you can do in the next steps.

• Select your marketplace, select NFT and connect to your wallet.

There are dozens of markets you can choose from. These include OpenSea, Axie Marketplace, Rarible, SuperRare and Mintable. Take a look at these markets and choose the one that matches your content. Your next step is to “file” NFT. Simply put, the process of converting a digital file to a set of encryption or digital assets in the Ethereum Blockchain.

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Most markets provide a step-by-step guide to your NFT on your platform. Once you have selected the market, you need to attach your crypto currency wallet. After that, upload your digital file and follow the trend in your chosen market. Each platform will have different processes, allowing you to sell the product at once or earn royalties.

• List NFT for sale

Once you have filled in the information and your file has been uploaded and set up, it’s time to list it for sale. Once you list it for sale, you will find that the market calculates “gas fee”. This is Ethereum Blockchain fee to record transactions. This cost will vary depending on network congestion and the best way to reduce this cost is to list your product at off-peak hours, depending on the market.

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In this article on shetcoiner site, we have explained the steps you need to know create an NFT, its platforms and how to buy and sell it. We also talked about Gas Fee and how to control it.