NFT was the buzzword during Covid, and it’s still trending. While many people are investing in NFTs, many are still unable to understand the term. Simply put, NFTs are digital entities that can be sold, bought, and traded on the internet, especially blockchain. NFT is particularly popular among artists and photographers as a digital marketplace to showcase their art. The uploaded photography is available for purchase to all investors and buyers on the blockchain.
It is said that many sellers, as well as buyers, get high profits in the NFT market. However, it has also become easier to pirate and duplicate photographs as it is readily available on the internet. To prevent this, it is important to understand how to sell photographs on NFT marketplaces safely.
Along with that, we will also discuss some of the best NFT marketplaces for photographers.
Steps to Sell NFT Photographs
1. Select a Blockchain Platform
Different NFT marketplaces are compatible with different blockchain technologies. So, it is crucial to select a blockchain whose rules and regulations suit your requirements. Currently, Ethereum is the most widely used blockchain platform that is capable of providing more visibility to your artwork.
2. Set Up a Cryptocurrency Wallet
If you want to dive into the NFT business, you need to have an appropriate crypto wallet to carry out transactions. There are numerous crypto wallets; however, for Ethereum platforms, you will have to get a wallet that is compatible with the ERC-721 standard. This includes options like TrustWallet, Coinbase Wallet, and MetaMask.
3. Fund Your Wallet
Fill your wallets with your chosen cryptocurrency. For the Ethereum ecosystem, it will be Ether. Though there are many cryptocurrencies, most of the NFT marketplaces are carrying out transactions using Ether. It is advisable to keep a check on the fluctuating price of Ether and buy it only when it is relatively low. Around $100 to $150 is enough to start.
4. Choose an NFT Marketplace
There are a lot of NFT marketplaces exclusively for photography. Some of them might be selective in terms of the creators that they list on the website, while others are open to all. The best NFT marketplace for photographers is OpenSea. We will discuss more marketplaces in the next section of the article.
5. Link Your Wallet to The Selected Marketplace
Create your profile and fill in the necessary details on your chosen marketplace. Follow the instructions specific to your chosen platform to link your wallet.
6. Create the NFT
NFT can be created in 1/1 or semi-fungible format. For beginners, it is advised to go for a unique 1/1 NFT as it is easier than semi-fungible, which has a longer and more complicated process. All you need to do is upload a photograph on the marketplace with a maximum size of 100 MB. Give a name and allocate a category to your NFT. Your digital asset will be created after you choose the blockchain you want to use.
7. List the NFT for Sale on The Marketplace
Now that your NFT is created, you can either fix a particular price on it, or you can opt for Timed Auction. In the latter option, the buyers can bid on your artwork. You can also decide the duration for which your artwork will be up for sale.
Remember that you will be charged for listing and minting your NFTs on most of the marketplaces. Along with the listing charges, new sellers will also be asked to play a few for initialing an account on the platform.
Best NFT Marketplaces for Photographers
It is the biggest NFT market that exists to this date. It has over 80 million art pieces uploaded and over 1 million users, making it the best marketplace for photographers. It also has the highest trading volume, with millions worth of transactions happening daily on the platform. Besides, it accepts around 150 cryptocurrencies, making it extremely accessible. However, it is not compulsory to have cryptocurrency to do transactions on this platform.
If you are uncomfortable with technical things like blockchain, Opensea can be very easy to use. It welcomes both beginners and experts by allowing them to make NFTs for free and even mint their collections. While listing, it gives you two options: Fixed Price and Timed Auction. With the Fixed price, you can buy the NFT without competing with fellow buyers or bidders. Whereas in Timed Auction, the highest bidder wins.
As the name suggests, this platform takes pride in hosting artists with unique and authentic artwork. It is one of the most aesthetic NFT marketplaces that every photographer should check out. It is known for its user-friendly website that gives visitors an online experience.
Unsurprisingly, this is also an exclusive platform that features only approved artists. There’s a long queue for artists to get approved on this platform. SuperRare runs on the Ethereum blockchain. So, all the transactions on this platform are carried out using Ether cryptocurrency.
Foundation is a highly expansive and one of the best NFT marketplaces for photographers. Though this platform is open, it used to work on an invitation basis. This means that the creators could be a part of the platform only if they received an invitation from existing community members. Besides, only the member creators who had sold a minimum of one NFT on the platform were allowed to send invites to others.
However, this is not the unique aspect of this platform. Its differentiating factor lies in its sole ownership scheme. This means that if a buyer purchases an artwork from this platform, they will be granted the entire ownership of the NFT. This changes only if the buyer decides to resell the NFT. Though it charges high commissions, it is still worth checking out for sellers as its 24-hour auction process may help get more profits.
Along with the platforms listed above there are a few more notable NFT marketplaces. Other platforms, like Ephimera, Atomic Hub, Portion.io, Mintable, Obscura, etc., are also some of the best NFT marketplaces for photographers. All these platforms are unique and have their specialties. Hence, we would highly recommend you check out all these platforms. This will help you choose the best platform that fits your requirements.
So, with the help of these platforms, you can get started immediately. All you need to do is curate all your high-quality photos and fill your crypto account with some cryptocurrencies.
Upload the photos on your favorite NFT marketplace and start selling.