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Overview: Best Approaches – where to sell NFT art?
If you are looking to venture into the world of Non-Fungible Token or NFTs and explore the endless opportunities it has to offer, it is important to choose the right NFT marketplace. There are various important aspects to look out for in an NFT market, including its suitability for your NFT type, the gas fee, fee per sale and blockchain used by the marketplace. While most NFT marketplaces use Ethereum as the preferred blockchain, new marketplaces are using other cryptocurrencies for a cheaper gas fee (Gas Fee refers to the costs charged by marketplaces to create NFT). Also, many users are considering the carbon footprint of blockchain systems.
Well, if you are just starting with NFT and know little to nothing about NFT, we got you covered. Here in this blog, we will be exploring some of the most popular NFT marketplaces, where you can create and sell NFTs. We will also be covering some FAQs to help you get a head start in the NFT industry.
Top NFT Marketplaces For Artists And Creators To Buy And Sell NFTs:
OpenSea is one of the most widely used NFT marketplaces in the world. It’s also one of the biggest and oldest marketplaces that host all sorts of NFTs, ranging from music to sports and photography to artwork. It won’t be wrong to compare OpenSea as the Amazon of the NFT marketplace, a place that has everything – a truly do-all NFT platform.
As the absolute market leader in NFT marketplaces, OpenSea is supported by over 150 cryptocurrencies. It’s an interactive and intuitive platform. Users can easily set up accounts, mint and start selling NFTs in minutes. Another great feature of OpenSea is that it’s a gas-free NFT marketplace. The platform also supports the Polygon cryptocurrency, which allows users to trade NFTs without paying fees.
2. Nifty Gateway
Nifty Gateway is yet another great platform for NFT sales. On its credit, Nifty Gateway boasts two of the biggest NFT sales in history, including CROSSROAD sold by Beeple in December 2021. The platform also boasts the sale of The Merge by artist Pak for USD 91.8 million, which is the biggest ever NFT sell at the time of writing.
Nifty Gateway is also one of the favorite marketplaces for celebrities and Twitterverse. The platform uses “open editions”, which basically allows the creation of a virtually unlimited number of editions of artwork for the specific time period, after which no more NFTs can ever be issued. This creates a market scarcity for the artwork and improves secondary sales in the market. Another powerful feature of Nifty Gateway is that it allows the use of Fiat Currency by collectors to purchase NFTs. This means that you no longer are bound to use cryptocurrencies for NFT sale and purchase; instead, you can simply use credit cards for the purpose.
Rarible is another trendy and widely used NFT marketplace that allows the selling of single art pieces and collections. The platform is specifically popular amongst media brands, sports, gaming creators and collectors. The Rarible is a community-owned platform that strongly supports the decentralization approach. Users on Rarible get to vote for any update or upgrade of the platform. It uses its own toke “RARI”.
Ethereum, Flow, and Tezos blockchain systems are used by Rarible, and users can choose their preferred token for minting NFTs. While Ethereum is the most preferred blockchain system by users, it does come with a higher Gas Fee and a large carbon footprint. Tezos blockchain system comes with a lower Gas Fee; however, it is more directed towards collections; rather than a single art piece. The Flow blockchain offer the free minting option “Lazy Minting” while also having a considerably lower carbon footprint than Ethereum; however, it offers a slower minting process.
SuperRare is credited to introduce the gallery environment to the NFT marketplace. It’s a marketplace that is strongly directed towards art and place artistic intent and credibility above meme art. This is also one of the reasons why the platform is highly popular with celebrity NFTs. SuperRare accepts minimal artists to display their NFT. While it may sound limiting, it also means that it offers users with highly curated artwork catalogue.
This is also something that gives SuperRare a high-end gallery feel. To make it even more premium, SuperRare only allows artists to display the original artwork (no editions allowed). This creates a great scarcity of artwork (super rare) and manifolds the secondary selling price of the artwork.
MakersPlace is another celebrity preferred NFT marketplace, where you can find many established artists and galleries displaying their artwork as NFT. You can join the platform as users and bid on exclusive NFT art from some of the legendary artists like Robert Liefeld, Damien Hirst and others.
To make NFTs even better, artists get to sign their art, which is subsequently recorded on the blockchain. The platform only allows minimal original artwork to be minted, creating a high scarcity of the artwork. The platform also gives full ownership of the NFT to the buyers.
Mintable is the relative newcomer in the NFT marketplaces. It can be compared to Etsy in the ecommerce market, which offers excellent features to the users. The platform is backed by billionaire Mark Cuban and is strongly directed to simply the process of buying and selling NFTs.
Mintable allows minting NFTs from any digital file (JPGs, GIFs, text documents, video files, and more). The platform simplifies the entire process of NFTs creation, minting and selling to enable more users to get started with the process. Ethereum is the standard blockchain standard used by the platform; however, users can also mint using Immutable X (no gas fee).
How is it easy to sell NFT art?
NFT marketplaces have made it pretty easy for artists to create and sell NFTs. If you, too, are interested in selling NFT start, you can simply follow these steps to get started;
– Setup your crypto wallet
– Buy some Ethereum
– Connect the crypto wallet to an NFT marketplace of your choice
– Create and list your NFT for selling
Can any artist sell NFT?
Yes and No. While some marketplaces operate like traditional galleries (SuperRare, MakersPlace), allowing only celebrity and well-established artists to create, mint and sell NFTs. Other marketplaces (Mintable, Rarible, and others) allow any artists to create, mint and sell NFTs.
Is it expensive to sell an NFT?
Yes and No. Most of the time, you will have to pay the Gas Fee (depends on the blockchain system) and service charge of the platform. The Gas Fee may range from almost free (Flow, Tezos, Immutable X) to up to USD 70 to USD 900 (in extreme situations) for Ethereum blockchain.
Would you like to explore more about where to sell nft art, please consult with us at Frequenc Media
How can you sell NFT you bought?
Many NFT marketplaces allow buyers to resell the NFTs purchase as a secondary sale. Depending on the blockchain contract, the secondary sale may solely be kept by the reseller, or part of the sale may go to original artists.
Is NFT a good investment?
Yes. NFT has emerged as one of the best investment options, especially for the Metaverse. The digitized tokens have been pegged to virtual land pieces, which allow users to own virtual lands and profit from renting or selling these lands.