How to sell NFTs
Read to find out how to list and sell NFTs without paying any gas fees.
You must have heard about people buying and selling NFTs for astronomical amounts of money. Today, I will show you how to list your NFT for free. Scroll down to the heading Step by Step Guide begins here to Skip Intro.
What is an NFT?
Before we start selling NFTs, let’s try to understand them. What is an NFT? NFT stands for Non-fungible token. What’s that you ask?
A ‘Non-fungible’ token mostly means that it is unique and cannot be replaced by another. Think of a Pikachu Pokemon Card but there exists only one such card in the world.
Technically, an NFT is a non-interchangeable unit of data stored on a digital blockchain like Ethereum, a form of digital ledger. Most NFTs are photos, videos or audio. Each NFT is uniquely distinguishable unlike cryptocurrencies like Bitcoin.
What’s the value of NFTs?
There is a belief growing that NFTs are part of the future. This picture of an ape known as #4156 was sold for over $10 million on Larvalabs, one of the most famous NFT Projects.
Yes, you can go ahead and right-click to save this image. But NFTs are designed to give you something that can not be copied: ownership of the image. Since the owner of each NFT can be publicly seen by anyone, you cannot steal an NFT. On the blockchain, the owner’s wallet address and the history of previous owners is listed.
To put things in perspective, nobody can stop you from downloading the image of the Mona Lisa, printing it out and hanging it in your living room if you want. This won’t make you its owner.
While some NFTs are minted to offer some inherent value for the creator or buyer, there are others like Ether rocks. These rocks serve no purpose other than giving the owners bragging rights of owning 1 of the 100 rocks ever made.
Twitter has just started a feature for limited users that will allow people to show off their NFTs as a hex-shaped profile picture.
In the metaverse, one day in the future, you could showcase an NFT that you purchased by putting it up as a painting in your virtual living room. In the Sandbox Metaverse game, there is a marketplace where gaming assets are created and sold. The entire Metaverse is on virtual blocks of land that can be owned by players. Sandbox has over 500,000 wallets linked with over 30,000 monthly active users.
Where do I sell my NFTs?
Now that we are familiar with NFTs, the question is how do you sell them. NFTs can be sold on a marketplace like Opensea. Here, people can link wallets to buy or sell NFTs. There are many NFT marketplaces, I will be talking about Opensea today.
Step by Step Guide begins here
- Go to the Opensea and click on Wallet in the top right-hand corner.
2. You can go ahead and select Metamask as your wallet. Click on Install MetaMask for Chrome
3. Click Add to Chrome to install the MetaMask Chrome Extension
4. Click on the confirmation screens to complete the MetaMask Installation. Once it is installed, click Get Started.
5. Click on Create a Wallet to set up a new Wallet. If you already have done this before, click on Import Wallet to log in.
6. Enter a password and hit Create.
7. Super Important! Save your secret recovery phrase somewhere safe.
8. And you have just created a MetaMask Wallet
9. Let’s go back to Opensea. Click on Wallet and select MetaMask. The Chrome Plugin will activate and show a pop-up window.
10. Click Next and then Connect.
11. Congratulations. You are all set on OpenSea with a connected wallet.
12. Take some time to personalize your profile if that’s your thing. You will be prompted to sign. Go ahead and click on the Sign button.
13. Keep the NFT that you have created handy and click on Create. Browse and select your image file and fill in the details.
14. Important — Select the Polygon blockchain to avoid paying Gas fees. You can select Ethereum but you will have to pay Gas fees to list your NFT. Click Create.
15. And, there you have it! Your NFT is created.
16. You can create a collection to add more NFTs. Under collection, you can add royalties so that you receive royalties on every re-sale of your NFT. Click on the Sell Button to set a selling price on the NFT that you just uploaded.
17. Set a price for your NFT in ETH and click on Complete Listing
18. Click Unlock Currency and Sign with your wallet.
19. You are an expert NFT seller now.
Disclaimer
The steps mentioned above are for educational and fun purposes. If you lose money on NFTs, I am in no way responsible for your loss.
Conclusion
NFTs are here to stay. I do not think that they are a passing fad. Learn and arm yourself up, web3 is taking over the world.
