Many people can now make money from NFTs. NFTs are trading at extremely high levels and their popularity is steadily increasing. How can you also make money with NFTs? Follow these five steps and it could be here soon!
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Make Money with NFTs – 1. Create a Crypto Wallet
The first thing you should do is create a crypto wallet so that you can also secure returns from NFTs that are paid in cryptocurrencies. Many newcomers forget this step. However, a cryptocurrency wallet is an important step to start making money from NFTs. Without a wallet, it’s like not having a bank account as an offline art trader.
2. Choose the market!
If you want to create your own NFTs and make money selling them, you should choose a market where you want to sell your NFTs. There are many options on the market. The most important markets for NFTs at the moment are probably OpenSea and Rarible, and we’ve created directories for each here and here.
OpenSea is the largest NFT platform where you can trade NFTs.
3. Advertising and Marketing
You might get lucky and sell NFTs at high prices right away. However, this is associated with extreme luck. In most cases, to make money from your NFTs, you must first market your artwork. To do this, you have to do good marketing in the right target group in order to get more attention. You can use social networks for this.
4. Keep the NFTs scarce
Usually, the more rare the artwork, the higher the price. You can create a rarity for your artwork yourself to earn more money from your NFTs. You can first set an upper limit for the width. In the second step, you can deploy NFTs in rare levels. Certain numbers of your NFTs become rarer and therefore more valuable.
Make money with NFTs – 5. “Repeat” NFTs
Once the NFTs are created, you must use those artworks in every possible form. Any NFT author can also reproduce it at any time. This allows you to further market the object displayed in the NFT. A good way to “resale” is to print artwork on various merchandise products. So you can only earn money continuously through one of your NFTs.
You can create and trade NFTs on platforms like OpenSea.
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