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Most NFT creators and owners invested in the tokens to gain an early-bird advantage by creating unique NFTs of items, assets, land, artwork, and more. The idea was to make NFTs of the notable items before anyone else does and then sell these NFTs to the highest bidders or buyers.
All the stories about non-fungible tokens sold for millions of dollars are true. However, not all NFTs can bring in that kind of cash. That said, you can still create valuable NFTs and make profits of thousands of dollars. If you are wondering how to sell NFTs, this post will have you covered.
5 Steps to Sell Your NFTs
If you own an NFT or thinking about creating NFTs to sell later, follow five of these steps.
Step #1 – Choosing an NFT Platform
In order to start selling NFTs, you need to pick a platform first. You can select one from various options. These options are basically the marketplaces to showcase and sell your tokens. Some of the most popular alternatives to selling NFTs include a direct-to-consumer (D2C) platform like Shopify and OpenSea marketplace.
The type of platform you choose to sell an NFT depends on the kind of token you wish to sell. Furthermore, you also have to consider the fee a platform charges you to trade your non-fungible tokens.
Step #2 – Making Your Crypto Wallet
Prior to listing an NFT up for sale, you will have to create a cryptocurrency wallet. This wallet will allow you to deposit, receive and send money. Some of the most common cryptocurrency wallets available these days include Trust Wallet, Coinbase, and MetaMask wallet.
Step#3- Setting Your NFT Price
There is no set formula for setting the price of your NFTs. It is all about the demand for the tokens, and sometimes it can be a matter of luck that you put an NFT up for sale and find an interested buyer. In terms of setting the price, your price must be closer to other similar tokens sold on the market.
However, if you have a rare NFT, it can act as a catalyst to give its demand a spike, and you may be able to bag a higher price. One of the most famous examples is the Bored Ape Yacht Club featuring apes with a unique trait of laser eyes.
Step #4 – Creating a List
Now that you have decided the price you want to receive when selling your NFT, it is time to list the token. All you need to do is log into the platform you are using to sell the token and follow the instructions to list an NFT for sale.
You can sell single or multiple NFT tokens as per your requirement. Make sure to write an accurate description of your NFTs and give it an attractive title, so your listing is prominent and acts as a buyer’s magnet.
Step #5 – Considering Offers
If you are lucky or own a rare NFT, you will start receiving offers from potential buyers right away. It is entirely up to you which offers you want to consider or accept. Putting your NFT up for auction is another great way to try your luck and get a price higher than you have in mind.
No matter how many requests you receive, always keep a close watch on all the offers you receive. You have to make sure you do not miss any offers, as any of them may be your chance to bag a jackpot selling price.
If you opt for an auction, you will receive a notification whenever someone makes you an offer or bids on your NFT. Sometimes, buyers may send you private offers as well. In this case, you will receive buying offers with a specific price to buy one or multiple NFTs simultaneously.
However, you have to make sure that the price is not lower than the price you are asking for. Also, be careful about time wasters and spam, as sometimes adversaries and bots try to make these offers to undermine your non-fungible tokens.
Conclusion
NFTs are comparatively new, and the idea may sound complicated for now. Still, once you get a hold of selling NFTs, it will become as easy as listing and selling any other item on any other online marketplace. However, the above-mentioned five steps to sell NFTs are as complicated as it is going to get for now.
Just make sure that the platform you select and the NFTs you sell are the keys to the entire element. So do some research and make an informed decision. If you need help designing, launching, or selling NFTs, speak to our NFT development team today!
