After you mint your NFT, what do you do next?

Having finished minting your NFT, you can decide to put it up for sale. In most cases, this only requires a few easy clicks.

If a potential buyer sees your NFT for sale and likes it, they can place a bid on it. If you accept the offer, the Ethereum blockchain will be updated to reflect the new owner’s details, along with the identity of the previous owner and the transaction’s history.

The process of selling an NFT is straightforward, and all it takes to make a successful sale is some forethought and knowledge of how and when to make comparisons between sales channels. In this article, we’ve laid out the fundamentals to simplify the procedure and arm you with the knowledge you need to list an NFT with confidence.

Research NFT marketplaces

Marketplaces for NFTs (or “NFT Marketplaces”) are online venues where users can trade, make, and sell NFTs.

Securing the best price and buyer when selling NFTs requires careful consideration of which marketplace to use. Also, different markets may focus on different types of NFTs.

List your NFT for sale

After creating your NFT, you will have the option to put it up for sale on the marketplace. You can buy and sell NFTs on other platforms, but you should know that doing so may cost you more money.

Just tap the “Sell” button and stick to the on-screen instructions. In this step, you can specify the terms of the transaction, such as the starting price, closing time limit, and accepted cryptocurrencies for payment of the NFT. This is also the stage at which the market will determine how much must be paid in “gas fees” to the Ethereum blockchain network. These gas fees fluctuate depending on the current traffic on the blockchain network. The transaction fees for the marketplace will also be listed. These fees are usually given as a percentage of the NFT’s final selling price.

Make a listing

After deciding on a selling price for your NFT, you will need to publish it for sale.

If you’re on a marketplace, log in, then select Create from the menu on the upper right. Then you can proceed to select one or more collectibles from the available pool. To finish preparing your NFT sale, you’ll want to give it a name and some context.

Create a clever title that relates to your digital asset without being overly promotional. Explain in detail what your token is meant to represent and what the overall theme is in the description. You could also say how rare the NFT is and whether or not buying it will give the buyer any extra benefits (even a small hint in this direction is often enough to get people interested).

After that, decide what kind of listing you want to make. You can choose between two listing formats on marketplaces such as OpenSea:

On Sale

Choose this if you’d like to sell your NFT for a predetermined amount. It’s easy to put your NFT up for sale; all you need to do is input the price and select how long you want the sale to last.

Auction

In this listing format, the NFT is offered at a minimum price, which is also called a reserve price. Afterwards, an auction begins, and the bidder with the highest price buys your digital asset.

Keep track of your listing

Other users will be able to buy your NFT from the marketplace after you finish posting it. In order to attract customers, you must now promote the sale on your website and other social media platforms. You can also manage your NFT listing, but be aware that doing so may result in additional charges, and that any gas fees already paid are non-refundable.

Accept a proposal

You should wait for offers from interested purchasers after listing your NFT. Even though most marketplaces will send you an email or other notification whenever someone makes an offer on your listing, it’s still a good idea to check in on it periodically to make sure no one has made a request.

Assuming you have set a price for your NFT and someone is willing to buy it from you at that price, the transaction will be treated as a public sale. You will get a message telling you that your digital asset has been sold and that money or cryptocurrency has been added to your wallet.

If, however, the NFT is part of an auction, you will be kept updated on the status of the various bids. Potential purchasers may also approach you privately with offers to purchase your non-fungible token at a particular price. Some caution is advised, though, as you can receive offers that are lower than your set price (often from bots or adversaries hoping to take advantage of the owner’s omission).

Rounding off

Selling NFTs requires patience, a solid knowledge of how they operate, and a real understanding of what influences their value.

It’s not as difficult as you might think to sell an NFT. The process of selling an NFT may appear daunting at first glance. There are a lot of details to remember, but the task is achievable if you put in the time and effort.

Just be sure to research your choices in terms of platforms, NFT auction settings, and payment-related issues like gateways and fees. Once you’ve made sure you have everything covered, you’ll be ready to start selling those wonderful NFTs.

FAQ on Selling NFTs

What are NFTs currently selling for?

Depending on factors such as rarity, usefulness, and popularity, the typical cost of an NFT can range from around $100 to over $1,400.

The price of a non-fungible token may also be affected by changes in the value of the cryptocurrency it embodies. For instance, if the price of ethereum goes up, the value of NFTs built on it could also increase.

Does selling an NFT cost me anything?

This will be determined based on the platform you use. While NFT markets do not charge any fees to publish digital assets for sale, they do take a fee of between 2% and 2.5% of the sale price of the asset on each transaction. Using Shopify Payments, Shopify’s own payment gateway, you can sell NFTs without having to pay any transaction fees.