This article will tell you about how to sell NFT Photos. If you want to sell an NFT after creating or buying one, there are many methods and platforms to do so. If you have the NFT in your wallet, then you can sell it.
How to Sell NFT Photos
To sell NFT photos, you will need to choose the best platform and then you will need to own some cryptos in your wallet connected to the platform. These cryptos will be used as gas fees.
It's worth keeping in mind that this is actually just the beginning of the entire ordeal, though. This is why, in order to be successful and sell NFTs to as many people as possible, you will need to be smart about your marketing, as well !
If you're already a well-established artist with a decently-sized following, this may not be all that big of an issue. If you're just starting out, though, and NFTs are your first entry into the online art market, it can be difficult!
The Process for Selling NFTs
Whether you created the NFT on OpenSea or want to sell an NFT you previously bought, the process is the same for both.
- To sell an NFT, click the 'Profile' icon on the top-right of the OpenSea home page and select 'Profile' from the menu. Your profile will list the NFTs you have on your wallet or the ones you created on OpenSea.
- Click the NFT you want to sell. The public-facing asset page for the NFT will open.
- Click the 'Sell' button in the top-right corner. The listing page for the NFT will open. Fill in the details like the price and type of sale for the NFT. You can either sell the item for a fixed price or have a timed auction. You also have to choose the duration of the listing.
For a fixed price listing, the maximum you can list an NFT for is 6 months. For a timed auction, the maximum duration for the listing can be 3 weeks. On OpenSea, a timed auction can be of two types:
Sell to the highest bidder : In this type of auction, you choose a starting price and buyers can bid over it. At the end of the auction, if the highest bid is for more than 1 ETH, OpenSea will automatically complete the transaction and also cover the gas fees for it. If the highest bid is for less than 1 ETH, then it's up to the seller to accept the bid. You are under no obligation to accept the bid, but if you do, you'll have to pay the gas fees yourself.
Sell with declining price : This one is a lot similar to selling with a fixed price, but instead, the price falls over time. The buyer can buy anytime at the listed price or make an offer that they want less than the listed price. You start with a starting price, say 2 WETH, but list the ending price to which the price will decline over time, say 1 WETH after 3 days.
Then, decide whether you want to include the NFT in a specific bundle. If you're reselling an NFT and the owner has a royalty set up, you'll see it in the 'Creator Royalty' section under the potential fees. For NFTs sold on OpenSea, 10% royalty is the highest that can be charged. OpenSea also charges a 2.5% service fee on your transactions which won't be charged during listing but when the sale goes through.
- Once you've filled in and checked all the details, press 'Post your Listing'.
There are additional actions and associated gas fees.
First-time sellers will need to initialize their wallets for which you have to pay the gas fees. Once you complete filling in the details and proceed further, you'll get an initialization request in your wallet. To initialize the wallet, pay the gas fees from your wallet.
Then, if the NFT you want to list for sale wasn't minted on OpenSea but through a custom contract, you'll need to approve the item for sale. The approval allows OpenSea to access your NFT (and other NFTs in the collection) and trade it on your behalf. You'll have to pay the gas fee from your wallet again and sign the transaction. You don't have to pay the approval gas fees for NFTs minted on OpenSea.
Once all the actions are completed and you confirm the listing of the NFT by signing from your wallet, your NFT will be listed and you'll get a confirmation pop-up.
Bottom Line
Selling NFTs is not as simple as you think, but if you follow the steps, you will know how to sell NFT photos.
