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How to Make, Buy, And Sell NFTs?

If you are an avid internet and social media user, you must have heard about NFTs, short for non-fungible tokens. They refer to a digital asset stored on a ledger, like a blockchain. NFTs can be anything, from a tweet to a song. Also, it can be a digital painting or a highlight reel from baseball, and much more. Above all, these NFTs sell for millions of dollars.

Due to their high value and demand, artists worldwide are thinking about jumping the NFT bandwagon and creating something that would sell for millions of dollars. More so, some of them are revisiting their old works and seeing if anything would put them on the radar.

With this thought in mind, we bring you this article on how you can make, buy, and sell non-fungible tokens. For more information regarding NFTs, you can check out our guide.

How to Make and Sell NFTs?

First off, let’s check out how you can sell NFTs online. A non-fungible token is a digital asset, just like cryptocurrency. Its ownership and contents are in data blocks on a highly secure blockchain, similar to Bitcoin.

The best thing about NFTs is that they grant you ownership of the original piece of art. This means that even if someone else has an image, copy, or track of it, they don’t own it. So, now that you have a brief idea of what NFTs are, we can move on to how come to be.

Before doing anything, you have to select an NFT platform that allows you to create and sell your tokens. Most of these services also provide you with a digital wallet to send and receive money. Some popular platforms include OpenSea, Rarible, Nifty Gateway, Axie Marketplace, and several others.

Generally, these NFT platforms have a similar interface and usage, so it isn’t difficult to understand how to use them.

Buying Cryptocurrency

Firstly, you need to buy cryptocurrency to pay for the NFT platform to generate a non-fungible token. Generally, most outlets accept Ether because most NFTs launch on the Ethereum blockchain. However, you will have to watch the Ether prices since they are volatile like Bitcoin.

Before buying Ethereum, you must create your digital wallet and link it to the NFT platform. For the digital wallet, you can select one of the many digital wallet services available out there.

Creating the Digital Wallet

To create your digital wallet, you will have to download any digital wallet apps or browser extensions. Once this is done, it will ask you if you want to create a new wallet, and within a few steps, 3your digital wallet will be ready.

Adding Money to Your Wallet

The next step is adding money to your newly-created digital wallet, you can enter the amount of Ethereum you want to buy, and the app will show you how much money, or fiat currency, will be required to buy it. You can make the payment through several methods, including credit and debit cards, Apple Pay, Google Pay, PayPal, etc. Once you confirm the transaction, it will top up your wallet.

Connecting Your Wallet

Regardless of which platform you are using, it will have a button to connect your digital wallet. Once you click on the button, you will be asked to choose your digital wallet provider, and a popup will request your confirmation. It will integrate both the apps with each other this way, and you will be able to use the wallet to send and receive money through the NFT platform.

Uploading the File

After completing all the above steps, you have to upload the file you want to convert to an NFT. Then, the platform will ask you if you wish to set the NFT to be sold once or multiple times. NFT outlets accept several file types, so you won’t have any trouble uploading yours. Once you see the preview of your NFT, you can move to the next step.

Setting Up an Auction

When your file is uploaded, you can choose if you want to sell your NFT for a fixed price, where you set a price and sell it to whoever matches it. Otherwise, you can set it up to receive multiple bids, allowing you to choose the best one. Lastly, you can also select a timed option, in which the auction takes place for a limited time.

Describing the NFT

Just like you add a description to listings on classifieds websites, you can add one for your NFT as well, including its title, description, royalties, properties, and other variables.

Paying the Fee

Once you click on ‘Next,’ you can go to the payment page. There, the platform will connect with your digital wallet for paying the fee. First, make sure that you understand all the costs and fees in the transaction. They include royalties that you may have to pay on the sale of your NFT.

How to Buy NFTs?

For buying NFTs, the initial steps are pretty similar. First, you need an NFT marketplace or platform where people sell their NFTs and a digital wallet that you have linked to the forum. Once you have everything set up, you can browse for NFTs to buy, like exploring online stores or an art gallery.

Once you see something you like, you can go to its specific page and click on ‘Buy now. The NFT will enter the cart, and it will take you to the checkout page, where you can see the full value of the transaction. Make sure to check the price breakdown carefully. Then, if you have enough money in your digital wallet, click on ‘Submit’ or ‘Confirm,’ and you will become the proud owner of your first NFT.

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This concludes our guide on how to make, buy, and sell NFTs. Check out our website for more information or research regarding NFTs. Don’t hold yourself back and go for it if you want to make your digital art for sale.

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