HOW TO SELL AN NFT: GUIDE FOR 2023


You might have read our previous post on how to create NFT. After you've learned the basics of making an NFT, the following step would be to figure out how to market one.

In the end, the bizarre stories of selling NFTs could be one of the primary factors behind why NFTs have received lots of attention in the last few months. Now is your chance to join in on the excitement.

If you've felt overwhelmed or confused by the whole process of Top software development companies in the world, do not worry. This is exactly what we'll discuss in this article.


How to market an NFT for the first time Five Steps

1. Select an option

Your path to selling an NFT begins with selecting the appropriate platform. There are many options through top custom software development companies available that include online marketplaces like top software development firm OpenSea as well as direct-to-consumer (D2C) platforms like Shopify. The decision-making process is typically based on the kind of NFT you're selling, as well as the costs involved in trading the cryptocurrency asset.

Let's look at a few platforms and the services they provide for NFT selles:

NFT Marketplaces

OpenSea

OpenSea is the world's biggest digital marketplace for trading and buying NFTs which include games items, crypto art custom software development services as well as exclusive collectibles from the digital world. It has two well-known NFT standards which are ERC-721 tokens and ERC-1155. Sellers can select between Ethereum or polygon for listing an NFT in the OpenSea marketplace.

The fees for trading with OpenSea are 2.5 percent, meaning you'll receive a bit less than what you'll offer your NFT for. In other words, when you sell the NFT to a buyer for $100 you'll get $97.50 while OpenSea keeps $2.50.

Variable

Rarible is a second digital marketplace on which NFT owners can list their digital assets for auction. The marketplace's top software development companies in the world accept a wide assortment of tokens in various categories, including music, art, videos as well as domain names. To sell NFTs and accept payments through Rarible the platform, you'll need an account that is compatible with one of the top custom software development companies three cryptocurrency exchanges linked to the marketplace. Ethereum, Flow, and Tezos.

In terms of charges, Rarible works similarly to OpenSea and takes 2.5 percent from both the seller and buyer sides of each sale on the marketplace and top software development firms.

Binance NFT MarketPlace

Binance is one of the biggest exchanges for cryptocurrency and has its very own NFT marketplace. Binance's NFT platform allows you to custom software development services to sell non-fungible coins from diverse categories, such as collectibles, sports, art as well as entertainment, and gaming. Two blockchains' top custom software development companies are accepted: Ethereum and Binance Smart Chain (BSC).

Binance offers the same 1% transaction cost for both NFT creators and sellers which is the lowest rate on the marketplace. Sellers also are required to pay a 1% royalty fee when they own an NFT company owned by top software development firms was made by an outside source.


2. Create a cryptocurrency wallet

For listing your NFT to sell it is necessary to use a cryptocurrency wallet. The most well-known wallets that allow NFT sales include MetaMask, Trust Wallet, and Coinbase Wallet. Here is a brief review of each

MetaMask

MetaMask lets you connect to the Ethereum blockchain to purchase or sell your NFTs.

Trust Wallet

Trust Wallet is a fantastic choice when you're in search of an online wallet. It can be used for trading and buying NFTs and lets you save your NFTs in a safe wallet.

Coinbase Wallet

Coinbase Bitcoin Wallet allows users to transfer and receive NFTs via usernames rather than using custom software development services and blockchain addresses that are public. This allows for a user experience comparable to digital wallets we already know as well (e.g., PayPal).

3. Pricing your NFT

There's a common belief in the idea that NFTs are worth what consumers would purchase them for, but there are indeed a variety of factors that affect their price and the way buyers generally consider their value of them. They include:

  • 30-day average price. This is the historic trend in the price that is typical of any NFT regardless of its category. Ideally, the price you want to target should be in line with the value of similar tokens in the last 30 days.
  • Rarity. Certain non-fungible tokens possess unique features that drive up the price. One example is the Bored Ape Yacht Club NFT collection contains lower than one percent of the apes that have their "laser eyes" trait. If your NFT has a rare feature, then value it higher than that of the historic average. (People are still willing to buy.)
  • Utility. Are you able to have your NFT traded in exchange for an item that is virtual in a specific game or metaverse? Do buyers become members of an exclusive club with additional benefits, such as discounts on purchases to come? The value of the base asset will determine if you can request an increase in the price of your NFT.
  • Creator relationship. People who have built a name and a following in the NFT market can get an increase in the value of their belongings. However, if you're a new seller who has no sales history It's recommended to begin close to the historical average, and then work upward.

4. Create a listing

When you've decided on an amount for an NFT and you're ready to prepare a listing.

Log in to the NFT platform and then click Create on the upper left (if you're using the marketplace). Choose an individual top software development company in the world or multiple collectibles depending on the availability that your product. Then, you'll need to input an appropriate title and description for your NFT.

Make sure you write a description that is attractive and relevant to your asset but does not attempt to sell. In the description, speak about the reason for your token as well as any themes that it has. It is also important to include the rarity level that you've set for your NFT and whether the purchasers receive any benefits in addition to the actual possession of your asset (a hint can be enough to grab potential customers to pay focus).

>> More Read About How Much Should I Sell My NFT For A Complete Overview <<

Choose the next step, and then select the kind of listing you are looking to make. On marketplaces such as OpenSea, There are two choices for listing:

On Sale

If you are looking to market your NFT at a set price then go for this option. To create an online listing, just input the price of your NFT and select the amount of time that you would like the listing to remain active.

Auction

In this kind of listing, it is possible to decide on the minimum price (also known as reserve cost) of your NFT. An auction then takes place and the highest bidder will be able to purchase the digital asset.

5. Accept the offer

After you have listed your NFT Keep looking for any offers from potential buyers. While many platforms will notify you when someone makes an offer on your account It's important to keep track of your own listings often to ensure that you don't overlook any bids.

If you've decided to set an amount that is fixed and someone chooses to purchase your NFT at that price then it's an open sale. In this scenario, you'll receive an email notification of the fact that your asset was transferred to a buyer and your account is credited with cryptocurrency or fiat.

If it's an auction, then you'll receive notifications regarding the various bids made in your NFT. Furthermore, buyers could offer you private deals in which they offer a specific price for the purchase of an NFT that is not fungible. A bit of caution is required because offers may be less than your minimum cost (such offers are usually made by adversaries or bots who are trying to take advantage of the oversight of the owner).

Making an offer for NFTs is much easier than it may appear

At first, it could appear to be incredibly complicated to market an NFT. Although there are plenty of considerations to bear in your mind during the actual process isn't that difficult when you conduct the necessary research and do your due diligence.

Make sure to examine the options available to you in terms of auction options, platforms, and other payment-related issues, such as charges and payment gateways.

If you've got all the bases covered, you're on the way to selling some amazing NFTs.

>> Related Post To Read Staking Crypto: A Way to Recover Your Funds in Bear Market <<

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