10 Best Ways To Sell Nft In India
NFT stands for Non-Fungible Tokens, it is a digital asset or financial security which consists of digital data stored in a blockchain, a form of a distributed ledger. NFTs can be sold and traded by anybody.
The NFTs were introduced to the real world in 2017, the NFT contains digital files like photos, videos, and audio, NFT marketplace is a virtual platform where artists from all over the world use this platform to catalog their art pieces in digital token form and the investors uses this platform to buy these digital token as an asset.
This article carries some important information about NFT, its marketplace, and how these digital assets are sold and traded in different NFTs markets.
What is NFT?
NFT means non-fungible tokens (NFTs), which are generally created using the same type of programming used for cryptocurrencies. In simple terms, these cryptographic assets are based on blockchain technology. They cannot be exchanged or traded equivalently like other cryptographic assets.
Like Bitcoin or Ethereum. The term NFT clearly represents it can neither be replaced nor interchanged because it has unique properties. Physical currency and cryptocurrency are fungible, which means that they can be traded or exchanged for one another.
What is an NFT Marketplace?
NFT marketplace is a virtual marketplace and economy platform. This platform permits artists to display and list their art in the form of digital assets, and buyers and investors from all over the world purchase these art pieces in the form of digital assets.
This process and system are very much similar to online shopping done through digital and E-wallet payments.
To access and use these types of marketplace you need to have the following;
A crypto wallet
A number of coins in the wallet
A user account
Why Are NFTs Becoming Popular?
NFTs have actually been around since 2015, but they are now experiencing a boost in popularity thanks to several factors. First, and perhaps most obviously, is the normalization and excitement of cryptocurrencies and the underlying blockchain frameworks. Beyond the technology itself is the combination of fandom, the economics of royalties, and the laws of scarcity. Consumers all want to get in on the opportunity to own unique digital content and potentially hold them as a type of investment.
When someone buys a non-fungible token, they gain ownership of the content, but it can still make its way over the Internet. In this way, an NFT can gain popularity — the more it’s seen online, the more value it develops. When the asset is sold, the original creator gets a 10 percent cut, with the platform getting a small percentage and the current owner getting the rest of that revenue. Thus, there is potential for ongoing revenue from popular digital assets as they are bought and sold over time.
How to Buy NFTs?
Having understood what NFTs are used for and their specific advantages over other cryptocurrencies, you might want to venture into buying NFTs. If so, you will need to acquire some essential items before you do it:
- You’ll need a digital wallet that allows you to store your NFTs and cryptocurrencies.
- Then you need to purchase some cryptocurrency depending on what currencies your NFT provider accepts, most likely Ether. You can use platforms like OpenSea, Coinbase, Kraken, PayPal, etc., to buy cryptocurrencies.
- Once you’ve made your cryptocurrency purchase, you can move it from the exchange to your wallet.
10 Best Ways To Sell Nft In India
The top 10 NFTs marketplaces are as followed:
WazirX was launched in the year 2018, as an Indian Cryptocurrency exchange, currently, this company has about 7.3 million users.
The company is specialized in cryptocurrency, cryptocurrency exchange, digital assets, exchange Tron, Ripple Bitcoin wallet, P2P, Buy Ripple in India, Buy Tron in India, crypto trading India Investing and Buy Mtic India. It is a private company.
It is the world’s largest marketplace for buying and selling NFTs. One can get game items, crypto art, exclusive digital collectibles, and more. OpenSea supports the ERC-721 and ERC-1155 tokens. It would help to choose between Ethereum and Polygon while listing your NFT in this marketplace.
One thing to remember is that the OpenSea trading fee is 2.5%. So price your NFT accordingly while selling here.
Rarible is another well-known marketplace for NFT items. We’ll tell you through every step of learning how to sell free NFT art on Rarible. We’ll use the same MetaMask wallet that we did for OpenSea because you’ll need a crypto wallet to connect to Rarible. The most appealing feature of this platform is the ability to earn royalties on the NFTs you resale, allowing you to generate passive income while still receiving a cut every time the NFT is sold. Rarible can also be used to earn prizes, which are paid out in RARI tokens. So, Rarible is the second largest NFT Marketplace which can help you create an NFT for free and earn money selling your artwork.
The BollyCoin is a way of connecting Bollywood and Blockchain, this company showcases collections done by Bollywood projects. This marketplace offers movie clips, posters, and stills of movies to its user.
This marketplace was founded by Mr. Atul Agnihotri, in the year 2021. It is a private type of company, and the specialties of this company are cryptocurrency, NFTs, Blockchain, web3, Bollywood, and Indian cinema. Till now Bollycoin has sold about 20mm tokens.
5. Binance NFT MarketPlace
Binance is a reputed cryptocurrency exchange with its own NFT marketplace. There are various categories from which you can sell your NFT – gaming, entertainment, collectibles, sports, art, etc. This marketplace supports Ethereum and Binance Smart Chain (BSC).
Binance has the lowest trading fee in the market. NFT creators and sellers have to pay a trading fee of only 1%, and additionally, traders have to pay a 1% royalty if the NFT was created by someone else.
Mr. Arun Panday found Beyondlife in the year 2003, the company become popular after launching NFTs of the legendary Bollywood actor Mr. Amitabh Bachan, around 5,000 loot boxes were sold around only in 53 minutes and
another shot by the company was after launching NFTs of Stan Lee’s co-creation Chakra, around 6,865 loot boxes were sold within just 51 seconds and the jukeboxes were sold in 49 seconds. One of the best marketplaces to buy, sell and create NFTs.
7. Jupiter Meta
Jupiter Meta enables users to buy and sell NFTs across a variety of sectors such as music, art, films, and culture, this platform showcases an information chart of NFTs in cooperation with four artists.
It also provides digital art pieces to its users. This company was founded by Mr. Sathyan Rajan and Mr. Chakradhar Reddy Kommera in the year 2022. It is a private company specializing in the marketplace for arts, music, games, and cinema. Jupiter Meta partners with NGOs for 50% of the proceeds.
Shopify is another great platform to sell your NFTs. Its unique infrastructure allows you to have a Direct-to-consumer (D2C) experience through its branded storefront. Here, you can sell your NFTs directly to your customer instead of relying on a marketplace.
As an NFT seller, you will benefit greatly from this platform. Your patrons can use debit, credit cards, or mobile payments to transfer their money. Moreover, if you transact via Shopify’s payment gateway, Shopify Payments, you as a merchant will not have to pay any transaction fees.
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This NFT marketplace was founded by Abhay Aggarwal in September 2021, known as the largest licensed in the NFT marketplace. This platform enables its users to buy and sell their art.
This company is partnered with sports stars, and musicians in the form of trading cards. The marketplace has launched a digital token of Trump Cards, users can access gaming platforms with gaming personalities.
One of the best and leading crypto exchanges in India is BuyUCoin, this platform enables people to buy and sell cryptos like Ethereum, Bitcoin, Ripple, and Staller.
This marketplace allows its users to control UPI for its financial advantages, other than cryptos this company is also specialized in Financial Exchanges, Virtual Trading, Trading, Decentralisation, E-commerce, and investments as well.
This company was founded by Mr. Shivam Thakral and Mr. Atulya Bhatt in the year 2016. Today this company is serving about 350,000 users.