Digital artists interested in making and selling NFT artwork, or crypto art, have a sea of opportunities ahead of them. As obscure as it may seem, it is definitely the future of digital art.
So if you’re a digital artist starting out, you’ll want to weigh your alternatives in how you sell your work. In the past decade, artists use Behance or Patreon to promote themselves and their work.
But with the existing competition on those platforms, it’s undeniable how hard it is to start out as an artist without consistent support. Similar concepts and art styles are just some of the challenges you’ll face.
Nowadays, you can’t just invent a cool sticker and directly contact people on Instagram to see if they’d buy it. You need a strategic breakthrough to set yourself apart.
With that said, it might be time to consider investing your time in studying how cryptocurrencies work. That’s because cryptocurrencies are rising in popularity. Especially where making and selling NFT artwork is concerned.
What is NFT?
NFT stands for a non-fungible token. As vague as that definition is, it directly translates to unique or irreplaceable.
An NFT can represent any digital file. Basically, it’s like having your own one-of-a-kind currency. Speaking of currencies, an NFT is bought online with crypto. Cryptocurrencies are rising in popularity in today’s digital age. Apart from artwork, netizens also purchase music, videos, or in-game items that serve as NFTs e.g. Axie Infinity.
You can trade a dollar for a dollar and still have a dollar, but having an NFT isn’t the same. The main difference between an NFT and cryptocurrency is trading value. NFTs cannot be exchanged for equal value from each other because they possess a unique digital signature.
What does it have to do with Digital Art?
An NFT can literally be anything digital in origin. You just have to choose what artwork to market—assuming it’s quality work, of course—and you’re good to go.
If you manage to sell an art piece and attract somewhat of a fanbase, it’ll secure consistency for you. How?
It’s simple: NFTs permit buyers to financially support artists they like. If you’re able to develop a distinct art style, buyers will cherish the fact that they own your artwork. Soon after your first sale, you could be a highly commissioned artist.
It’s like being that one kid in class who has the latest iPhone before anyone else does.
The Potential of NFTs
NFTs are innovating how art is seen, and it would be a crime not to spend time looking them up.
As NFTs take up the spotlight and garner more attention, people are spending on NFTs in large amounts. NFTs have huge potential, and here are the three most expensive NFTs to date:
The First 5000 Days by Beeple
1. The First 5000 Days ($69.3 million) – Made by Beeple, Everydays holds the record for being the most expensive NFT ever sold. A collage of 5000 of Beeple’s earlier works, this piece was made to represent his growth as an artist.
CryptoPunk #7523 by Larva Labs
2. CryptoPunk #7523 ($11.8 million) – CryptoPunks were made as a randomly generated set of digital characters. #7523 is part of 10,000 other variations developed by Matt Hall and John Watkinson of Larva Labs. While initially released for free, #7523 is recognized as an extremely rare NFT. The pixelated face mask holds relevance in today’s global health situation concerning COVID-19.
CryptoPunk #7804 by Larva Labs
3. CryptoPunk #7804 ($7.5 million) – #7804 is in its own league as part of one of nine alien CryptoPunks, which includes #7523 above it. The cap, shades, and pipe emit a cool demeanor that buyers found distinct. It stood out and was purchased for $7.5 million.
How can you create NFT Artwork?
Choosing what style of artwork to market is something we can help you with. Get started by designing your own NFT artwork.
After that, you have to understand minting.
Minting is the process of turning digital art into part of the Ethereum blockchain. To sum it up, Ethereum is a form of cryptocurrency technology while “blockchain” basically means wallet.
A blockchain records information and serves as a form of technology where netizens store their cryptocurrency. You also need to purchase some Ether (Ethereum based cryptocurrency) because minting could cost you. After all, it’s an investment.
MetaMask is a highly recommended crypto wallet due to its ease of usage. Pricing NFTs are highly volatile too, so it’s best to load up a significant amount for the minting process.
Minting on OpenSea is advisable because it’s free, but you would still need to connect a crypto wallet to it. If you’ve connected your ETH wallet to OpenSea, creating an NFT is simple:
- Click Create on the top menu, make a collection, fill in some information, then save. After this, minting proceeds.
- Click on New Item, load your chosen artwork (art, gifs, etc.) and add details you’d want to note down.
- Press Create and poof, you have your first token!
How do you sell it online?
Choose between popular marketplaces first. If you’re starting out, OpenSea is a good recommendation. It’s free and doesn’t moderate content for listing.
This means you don’t have to be an approved artist to sell on their platform. However, this may also mean that you’re up there with a marketplace full of nobodies unsure if anyone would buy.
Overall, OpenSea is a straightforward platform.
Just click on the user icon, click your profile, and choose how you’d want to connect your ETH wallet. If you’re on MetaMask as advised, just connect to the platform by selecting “Use a different Wallet” and then pressing WalletConnect.
The rest is easier. Just follow OpenSea’s prompts and confirm the wallet connection from MetaMask.
Other recommendations that require some investment in terms of Ether are Rarible and Mintable.
Conclusion
Ta-da! You have your token and it’s sitting pretty on the NFT marketplace. With this, making and selling NFT artwork for a career sounds like a dream. Unfortunately, it doesn’t stop there.
Waiting until someone sees your work won’t give you success. So you have to market your product—preferably to a community that would love your work—and sell it. It may not seem that far off from the world of physical art but it’s equally rewarding.
Solidifying yourself in a world of digital art knowing you stand out is worth it. Friendly reminder, going into NFTs is just like any other investment. Don’t forget to do your research, weigh risks, and take some caution.
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