How to Sell NFT in Metaverse?

Wondering! How to Sell NFT In Metaverse. Investing in  NFT is a great option especially for many artists and designers because these days NFT art is selling at mind-blowing prices. People who have invested in NFT have made enormous amounts of money. Even large brands are now paying attention that turning the NFT into the best investment option. These large companies are heavily invested in NFT to enter the Metaverse world. 

So, nonfungible tokens (NFT) are a long time investment that makes you rich. You might be wondering about whether it’s a good time to explore the NFT world and learn how to make an NFT and sell it in the marketplace. So, if you want to learn these things, you are in the right place. 

How to Sell NFT in Metaverse?

In this guide, we will discuss the complete process involved from creating an NFT of your original artwork, and selling it in the marketplace through an auction. 

Before starting out, let us take some quick reality checks. Well, the price of NFT artwork is unbelievable for most of NFT users. In December 2021 Pak’s The Merge set a new record by selling it for $91.8 million at NFT marketplace Nifty Gateway. Moreover, there are some NFT artworks that have sold for over $1 million. And there are lots of brands getting involved in this marketplace. Recently, a globally renounced brand Adidas has launched NFT projects with Bored Ape Yacht Club and Prada. 

However, there are many well-known collectibles such as Bored Ape Yacht Club and CryptoPunks that have relatively high prices. But in reality, there are lots of fees involved for someone who wants to mint, maintain and sell an NFT. These fees associated with the purchase can eat up a large portion of any sale price, and thus make you out of pocket sometimes depending on the number of sales. 

We strongly recommend reading about our guide to NFTs before going deeper into this topic. So, be ready to dive and try your luck. Below is the complete step-by-step guide on how to make and sell NFTs. 

How to sell NFT in Metaverse?

The first and foremost step to mint your NFT is to choose the NFT platform and a payment wallet, the latter one of which you will need to use to pay the fees and receive any payment into your account. 

Luckily, there are lots of online platforms that you can use to make and sell an NFT. Popular NFT auction platforms include the OpenSea, Rarible, SuperRare, Nifty Gateway ( Paris Hilton Uses this auction for her curious Crypto Queen NFT), Foundation, VIV3, BakerySwap, Axie Marketplace, And NFT Showroom. Moreover, there are bunches of NFT payment platforms such as Coinbase, MetaMask, Torus, Portis, WalletConnect, MyEtherWallet, and Formatic are best ones. 

For Explanatory purposes, we will show the complete process of making and selling an NFT using the NFT platform Rarible and the cryptocurrency payment platform Metamask. Note that these two platforms are only used for demonstrative purposes of how the process works. And it doesn’t mean that these two platforms are the best in the marketplace. Besides this, all other platforms follow a similar process. Well, We strongly recommended checking the fees involved as closely as possible before choosing any platform. 

Must Read:-How To Create NFT Art Without Coding

Fund Your Wallet by purchasing some cryptocurrency

All the above-mentioned NFT auction platforms will want to pay upfront for minting the NFT. Minting is the process that turns your artwork into a non-fungible token that you can sell. Most of the cases [ayment are done using the native cryptocurrency of the blockchain platform Ethereum. Ethereum is the first platform where NFTs first launched. It means you will require to buy some Ethereum cryptocurrency before selling artwork of your work in order to cover the fees. 

In case you have some ETH coins, make sure that you have them in your digital wallet. This process will require you to choose the best NFT platform to connect to so that you can make and receive the payments. And if you don’t have cryptocurrency, there are lots of cryptocurrency exchanges where you can buy ETH or other currencies. However, the quickest and easiest way is usually to buy ETH directly with your digital wallet of choice. 

As we mentioned above, there are many options for explaining this process. We will use Metamask which is available as a browser extension and as a mobile application. Those users who already have digital wallets can jump straight to step 4. 

Create a digital Wallet with MetaMask

Metamask is a popular digital wallet and you can easily create a digital wallet. For creating a digital wallet, you will need to go to its website. In the top right of the screen, click on the Blue Download button. Currently, we are using a desktop computer, we will have the option of whether to install the browser extension, but also there is a mobile app. 

In the next step, you will be asked to confirm that you wish to create a new wallet and seed phrase. What does the seed phrase mean? A seed phrase means a list of words that stores blockchain information. Well, agree to the terms and conditions, creating a strong password for security measures is necessary for account setup. 

Must Read:-How To Check NFT Ranking | Get to Know Your NFT Rank?

Add some cryptocurrency to your wallet

Once you have properly set up your digital wallet or any other Metamask wallet, the next step includes adding some ETH to it. In case you don’t have some ETH, you will need to buy some now. So, click on the Buy button. Select the option Buy ETH with Wyre from the dropdown list. It will be redirected to the space where you can either use Apple Pay or a debit card to buy ETH. 

Connect your wallet to an NFT platform

The next step involves connecting your wallet to an NFT platform. Most digital wallets work this way. Essentially, you will need to connect your wallet to the NFT platform. We have outlined the complete process below. 

  1. Browser Rarible.com. In the right-hand corner of the screen, there’s a button that reads “Connect wallet”. 
  2. After that, you will be asked for a wallet provider.  Here, in this case, you will be asked for your wallet provider. A pop-up menu appears that gives you the option to connect the wallet. 
  3. Click Next. Accept the terms and conditions and confirm you are above 18 years old. 

Upload the file which you want to turn into an NFT

Well, after connecting the wallet with ETH to make a payment, you should be ready to create an NFT of your work. At the top right side of the screen, click the blue ‘Create button ’ on the Rarible site. On the other hand, you will be given multiple options to sell multiple items. Rarible currently accepts PNG, GIF, WEBP, MP4, and MP3 files, up to 30MB in size. 

Set up an Auction 

There are mainly three options on how to sell NFT artwork – Fixed price, unlimited auction, and timed auction. The Fixed auction means that you have allowed a fixed price and immediately sell your NFT. The Unlimited Auction allows people to carry on making bids until they accept one. And Finally, a Timed auction means that lasts for a set period of time. 

Also, there is an option called Unlock Once Purchased. This feature gives you the chance to provide the eventual buyer with a full high-resolution version of your art. 

Add a description 

Now, you have the option to add a title and description. The title should be catchy and a good description to explain the importance of the NFT and the value they will get after the purchase is essential. 

Pay the listing fee and sell NFT

Finally, when you click ‘create Item’. You will be invited to pay the listing fee and connect with your wallet. And if you don’t have sufficient funds, you will give the option to add funds directly within Rarible. 

In the future, if any sale happens and he actually buys your NFT, you will need to pay a commission fee on the NFT sale, plus a transaction fee for the transfer of the money. 

We had love to explain how to make money with NFT by calculating the potential cost of creating and selling an NFT. However, there are wild fluctuations in cryptocurrency values and a lack of transparency. 

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