SELLING YOUR ARTWORK ON OPENSEA, THE ULTIMATE NFT MARKETPLACE
With NFTs taking the art market and the world by storm, artists have finally been given an opportunity to capitalize from their work in the digital realm. Since the pandemic hit, the traditional outlets for selling art such as galleries, studios and exhibitions were hindered in their operations as the world at large, locked down and came to a standstill. Even though art market digitization was still relatively in its infancy, the global circumstances expedited the whole process and resulted in the creation of an entirely new digital outlet for art, the NFT market.
The concept of NFT artwork is still enjoying its new-found fame and novelty largely due to public’s curiosity being peaked by the mainstream media coverage of the high value NFT auction sales. With a growing demand and the hype around the crypto art movement, we have seen multiple NFT marketplaces pop up online to cater to crypto art collectors who are browsing the internet for their next big purchase.
As a digital artist it has been incredibly exciting to be a part of the crypto art movement, however initially it was a bit of a daunting task as I had narrow down on the platforms on which I would be selling my NFTs. Despite the numerous options, I was quickly drawn towards OpenSea as an NFT marketplace to host my artwork. From its user-friendly interface to its reasonable commission (2.5% on sales), OpenSea offers the perfect springboard for digital artists to make their first NFT drop. Moreover, OpenSea has an active community of artists, sellers and collectors who support, guide and encourage each other, as the NFT market continues to rapidly expand.
For those budding NFT artists who are about to mint their first art tokens, I would recommend starting with OpenSea and here is a quick step by step guide on how to do it:
- Before we even begin with OpenSea, the first thing we need to do is set up our Crypto Wallet. As recommended by OpenSea, MetaMask is the wallet to go for. You can easily have it set up by installing the Google Chrome extension and following the instructions accordingly.
- After your wallet is all set up, it is time to fill it up with OpenSea’s cryptocurrency of choice, Ethereum. Please take your time researching and looking for authorized and reputable sellers on the internet to buy your Ethereum. Once you have acquired a sum of the currency, wait for it to be reflected in your MetaMask wallet and then head to the homepage of OpenSea.
- Just like any online marketplace, in order to start selling on the platform you will have set up your account. It is pretty straightforward to create your account at OpenSea, once you click on the profile icon in the top right corner of the homepage. Just follow the instructions and get your OpenSea profile linked to your wallet.
- Once your profile is all set up, it is time to start minting your first NFT. You will have to click on the Create option at the top of your profile page and then select My Collections. Then click Create on the Create New Collection drop down menu and enter the details and information about the NFT or the collection of NFTs you will be minting soon. You will be able to upload images and customize how your collection will be presented to potential buyers.
- Once you have set up your collection, it is time to create your first NFT. All you will have to do is click on Add New Item in your Collection menu and fill out the required fields asking for details on the NFT. What I have learned is that the more information and details you provide about your artwork, the more traction and attention it gets on OpenSea, so take your time here. After doing all that, hit Create and voila! Your first NFT has been created.
- Now that you have created your NFT, it is time have it listed for selling to attract the attention of Crypto art collectors. To list your NFT, simply go to the public facing asset and click Sell. Then, select if you want it to be a fixed-price listing or auction and then set your price. This is where you will have to pay something called the gas fee which is simply the transaction fees of minting your NFT on the Ethereum blockchain. This fee is borne by both the buyer and the seller. The gas fee fluctuates and is currently expensive as there is congestion on the Ethereum blockchain. Once you are happy with your listing, you can select Post Your Listing and follow the instructions to your wallet. After doing that, your NFT is now out on OpenSea and ready to be bought by a collector.
It might seem a lot to process initially, however once you go through the process and have everything set up, it gets way easier to create and list NFTs without taking up a lot of your time.
There you have it! The future of digital art and the art market is here, so let us get our NFTs ready and push this crypto art movement forward.
Shop my artwork collection HERE.
Check my digital artwork collection HERE.