In today’s world, NFTs are sold out in the marketplace like hotcakes. So, What is an NFT? An NFT is termed as a Non-fungible token, a virtual asset that cannot be replaced.
The NFTs can represent an image, audio, games, fashion, video and other types of digital files, these are certified with proof of ownership. Others can have the representation of the original, but the original is owned by the authenticated owner.
So without any delay let’s check how to sell our virtual asset as NFT in the market.
How to sell NFTs?
Once the NFTs are created they are made available in your collections to sell them in the market. In your collections, you can find the sell button, tap on it to be redirected to the pricing page, where the pricing details are mentioned as you need to sell your NFT for a fixed price or run an auction.
Most of your NFTs can be sold for Ether and ERC-20 tokens which are most commonly accepted in most of the market places. But most marketplaces are restricted to a particular token.
The edit button is provided next to the collections where you can select the type of tokens that you will be receiving for selling your NFT. You can also program your royalties, where you will receive a commission each time the asset is sold, which enables the users to earn passive income.
Few marketplaces charge the sellers for the complete process, but few are free. One has to choose their suitable market place.
Selling the NFT in Rarible.com
Once the NFT has been created, name the NFT and give the description
- Set the royalties, that you would like to receive in exchange for your NFTs
- Choose connect wallet and create an option
- Connect your wallet that is created
- You need to make the payment for this process
- Click start to sign the sell order using a digital wallet
Hence it is listed, now you can find it on Rarible or Open sea. In case if the Rarible is not sold then the money will be transferred back to your wallet and can be converted to cash using apps such as coin base.
Anyone interested can create an NFT, they just need to connect their wallets with cryptocurrency in the marketplaces. The payment is made in form of ‘gas’ it is a kind of cryptocurrency.
How to buy an NFT?
Before we buy an NFT, we have to make sure of the following
- The best marketplace to purchase the NFT
- What is the best wallet you can connect with the marketplace
- Which cryptocurrency you can choose to make the sale
Certain NFTs are found only in certain sites, If you want to purchase an art drop then we have to fund our account and make everything ready for the purchase as the purchase will be done in seconds.
Platforms where you can buy NFTs
The below are few well-known marketplaces where you can buy NFTs
- Super Rare
- Nifty Gateway
- Axie Marketplace
- Bakery Swap
- NTF ShowRoom
The NFTs are made available on sites like the open sea, Coinbase so on. Once you log in to the open sea, tap on the Explore button, you can find the images, audios, videos, icons, or saying’s that are available to be purchased.
If you find something good and decide to buy it, then you can find the buy now button, tap on it and click check out and then submit.
Now you need to make the payment for the purchase and you will become the owner of that digital asset.
The physical assets can be bought and sold out, and the person who bought them holds the ownership, but in the case of the NFTs the digital artwork sold out with the digital certification that enables the ownership.
The price of this NFT is usually based on the artist selling it, the popularity of the artist makes the art sold for the highest price, if the content is more popular then it is bid for the highest rate.
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