» How To Convert Your Digital Art into An NFT Token and Sell It?

How To Convert Your Digital Art into An NFT Token and Sell It?

By Shrey Jain
— July 10, 2022
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If you’ve recently heard about a piece of art selling for millions of dollars, it’s an NFT! Non-fungible Tokens, or NFTs, are a booming trend rapidly gaining traction. You might be surprised to learn that people are willing to pay exorbitant prices for these digital assets.

One of the creators (Mike Winkelmann), better known as ‘Beeple’ sold his digital art for $69 million in early 2021. Interestingly, it’s only a start as these numbers are a common sight for any rare NFT sold in the market.

Given the success of these tokens, investors have left no stone unturned in venturing into the NFT business. However, it’s not that simple! Plus, since the concept is majorly new, not everyone has the know-how of converting their digital art into an NFT token for sale.

Therefore, if you’ve found yourself in a similar situation, you might want to read this blog. To understand the primary procedure, the steps, and the specifics, read this quick guide below.

Steps To Convert Your Digital Art into NFTs

Step 1: Pick Your Item

Deciding which digital asset to convert into an NFT is probably the first basic that gets you started (because you can’t start if you haven’t decided what to convert).

You can start with any artwork that has a unique appeal to you! It might be anything ranging from some impressive artwork, music pieces, photographs, GIFs, collectibles from a video game, a trending meme, or even a tweet (Yes, tweets too!). As per its definition, an NFT is a one-of-a-kind digital asset, the value of which is determined by the rarity of the art.

Besides, given the type of art category we’re dealing with, it’s always wise to first spend some time deciding its rarity. In addition, you might also want to check if it has some additional significance.

Tip: If it isn’t your artwork, ensure that you have legal permission to use the object you wish to convert to an NFT. If not, your art piece might be subjected to legal issues and be banned for not having the required authorization.

Step 2: Select the Blockchain You Want to List Your NFT At!

Once you’ve selected the art type, the only step is to start minting your NFT. To get started, you need to choose the Blockchain where you want to list your digital art.

When delving into the different Blockchains, you’ll have multiple options. You can select any from an exhaustive list of possibilities like Polygon, Cosmos, Tezos, Ethereum, and Binance Smart Chain.

However, it’s not as simple as choosing any Blockchain for sale. Your chosen Blockchain will play a significant role in completing the sale, seamless transfer of funds, and the fees attached to the transaction. 

Tip: Ethereum is among the most well-liked Blockchain among NFT artists and producers (CRYPTO: ETH).

Digital copy of the Mona Lisa as an NFT

Step 3: Set Up Your Digital Wallet

If you’re new to the NFT industry, you need to understand that your digital coins play a significant role in creating these art pieces. You cannot proceed with creating your NFT art pieces if you haven’t already signed up with a digital crypto wallet.

Why?

Because you’ll need access to some crypto tokens to fund your initial investment. Once you have signed up with any of the best NFT wallets like Ledger, Trezor, Metamask, Trust Wallet, or Math Wallet, purchase some cryptos to initiate the transactions. The crypto coin needed, and the amount required will depend on the platform or marketplace you choose to mint and sell your NFT.

Or, if you already have cryptocurrency in your possession from another source, try linking it to your digital wallet to pay for the associated fees concerning the steps involved in minting and trading NFTs.

Tip: Since most users sign up for the Ethereum network, you might want to buy ETH (Ether) for your transactions.

Step 4: Register with The Dedicated NFT Marketplace

Once you’ve followed the steps mentioned above, it’s time to start creating (and, ideally, selling) your NFT tokens. But here’s a small catch… You can’t sell your NFT if you aren’t registered with the ideal market type.

Before you’re all set to sell, you must decide on an NFT market for it. For instance, if your NFT is related to sports, you might want an audience that loves it. Or, if you’re setting up an NFT based on a game, you might want a similar marketplace.

In addition, it’s also a wise move to have a first-hand idea of the different currencies demanded by the marketplaces. For instance, Rarible requires its users to access Rarible tokens (CRYPTO: RARI) to continue transactions.

Tip: OpenSea, Rarible, SuperRare, NBA Top Shot Marketplace, Axie Marketplace, Larva Labs/CryptoPunks, Foundation, ThetaDrop, Nifty Gateway, and Mintable are among the leading NFT marketplaces you might consider.

Step 5: Upload Your File & Proceed with The Sale Process

Congratulations! Now that you’ve followed all the steps, you’re ready to mint your first-ever NFT. While on the registered marketplace you have selected, follow their step-by-step approach to turn your digital file into an NFT.

Once minted and listed under your profile, it’s time to set up the sale process by following the steps mentioned below:

  1. Sell it at a fixed price: By establishing a fixed price, you’ll give your NFT to the first individual willing to meet it.
  2. Make your auction timed: A timed auction will give potential buyers of your NFT a deadline to submit their highest offer.
  3. Open a limitless auction: There is no time restriction in an unrestricted auction. Instead, it is entirely up to you when to stop the auction.

Once you’ve decided to host an auction for your digital art, you must choose the royalties on the resale of your NFT art on the secondary market, a minimum bid price, and the duration of the auction (if timed).

Tip: When determining the minimum price of your NFT, keep in mind the fees associated with the sale because you might lose money if your selling price is too low.

 

Delve Into NFT Investments Today!

These beautiful digital arts are a common sight across multiple platforms. The potential for these digital assets is increasing with the rising prominence of crypto tokens (the highest-selling NFT was for $91 Million).

However, you needn’t be an art critic to invest in these NFTs. Given the current boom and the rising prices, it’s a wise move to multiply your investments amidst the market tension. All the best!

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