How To Create an NFT for Free and Sell it in 2023?
NFTs are a new form of digital asset that is surprising the world. It could be worthwhile to learn how to sell NFT art now that their fame has exploded into the mainstream. On some of the most popular NFT marketplaces, this can even be done for free. NFTs can be minted on a variety of blockchains and platforms, each has some benefits and also some drawbacks. We’ll walk you through every stage of creating NFT art for Free, the process of converting your digital assets into NFT art in this article.
What is NFT?
NFTs are virtual tokens that represent real-world assets. The most famous example of NFTs is Bitcoin, which has helped millions around the world become part of the global economy. There are over 200 cryptocurrencies today, and you can trade them in over 40 countries. NFTs (Non-Fungible Tokens) are unique digital assets with a non-fungible attribute that can be used to represent other assets.
As of January 2023, the value of all cryptocurrencies exceeded $800 billion. With so much money being made, it’s important to know what all this fuss is about. For example, you could have a cat in NFT form. In this article, we will take a look at the advantages and disadvantages of using NFTs.
How Does NFT Work?
Now that you’ve taken your initial steps in understanding what an NFT is, you should continue on and learn about how an NFT works.
- The majority of NFTs reside on the Ethereum cryptocurrency’s blockchain, a distributed public ledger that records transactions.
- NFTs are individual tokens with valuable information stored in them.
- Because they hold a value primarily set by the market and demand, they can be bought and sold just like other physical types of art.
- NFTs’ unique data makes it easy to verify and validate their ownership and the transfer of tokens between owners.
What is an NFT Marketplace?
An NFT marketplace is nothing more than a place to list your own or someone else’s property. Here are some of the most common, and many are free to join:
Several other websites offer the platform to get a piece of the NFT pie. The following websites also sell NFTs: SuperRare, Nifty Gateway, VIV3, BakerySwap, Axie Marketplace, and NFT ShowRoom. India, too, has some such platforms.
Examples of NFT
The NFT world is relatively new to people. Here are some examples of NFTs that exist today:
- A Digital Collectible
- Domain Names
- Sneakers in the fashion line
How To Create an NFT for Free and Sell it in 2023?
While some NFT minting platforms charge high gas prices, others have developed more efficient and cost-effective minting processes and, in this guide, we would be exploring three such platforms. Moreover, no code is required to mint your NFTs on these platforms.
Minting is the process of integrating your NFT onto the blockchain. It occurs when the immutable and tamper-resistant digital public ledger, i.e. blockchain, accepts and stores your NFTs.
How to Create an NFT for Free?
- To learn how to sell NFT art, you must first find a free NFT marketplace where you can mint or create an NFT for Free.
- A crypto wallet will also be required to pay fees and collect payments if you sell your NFT.
- Many specialized platforms allow you to create and trade NFTs.
- We’ll go over the two most popular NFT trading platforms, OpenSea and Rarible.
- In terms of the crypto wallet, these platforms support a variety of wallets, but we’ll consider one of the most famous among crypto users, MetaMask.
- However, an important aspect of these popular NFT marketplaces is that they allow free NFT minting, but they still charge a 2.5% service fee (from the selling price) for each NFT listed.
- However, while these popular NFT marketplaces enable free NFT minting, still they charge a 2.5 percent service fee for each NFT listed.
- This charge will be deducted from the selling price.
- The platform receives this fee, not the blockchain network.
How to sell an NFT?
To sell your NFTs, first, select a marketplace. There are many to choose from, and different ones specialize in a certain type of digital asset. They also provide many different options for buying and selling, which you can select according to your investment strategy.
Among the various options available, here are a few:
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.
Mintable is another useful site for traders looking for a more cost-effective way to create or sell their NFTs. Surprisingly, it offers a free registration process and charges no fees for producing or offering NFTs for sale, making it a far more attractive option for new and inexperienced traders.
Mintable has developed a platform that is ideal for artists seeking zero investment and great returns. With no minting fees, it has the potential to quickly become the most frequented marketplace.