A Beginner’s Guide to NFT for Artists

If you are a digital artist looking to monetise your content, you’ve probably tried selling your original work by selling commercial merchandise online. For canvas paintings, you can digitize them and modify them online, too. If this is the case, which one is the original work? Is it the first one you created? Or is it the digital copy that exists online? Now, this is where NFT comes in. 

In essence, an NFT is a smart contract that states your digital piece is the original work and all others are mere copies or digital prints. An NFT includes all your digital artwork with the added contract component on blockchain stating that you created a digital piece and that it is the original copy. NFTs can be registered on the blockchain. The sale of your original work and subsequent sales will be recorded on the blockchain, giving you the accurate record of transactions on the secondary market. 

NFT on Blockchain 

NFTs reside on the blockchain, usually in Ethereum form, making it easy to track. Tracking is important for artists and buyers alike, as it allows them to confirm the authenticity of an original work. NFTs were formerly known as smart contracts, where buyers and sellers receive proof of interactions. 

In the past year, the NFT market has seen significant popularity. Recently, the NFT named The First 5000 Days for a whopping $69 million. Digital sports collectibles are experiencing massive popularity with NFT-based platforms earning $200 million as its recorded highest earnings. Clearly, the NFT market is fast becoming lucrative, making it crucial for artists to leverage their creativity and skills to bank online. 

Sharing Your Work in Public will Earn you Money 

The NFT community is welcoming and open to new digital collectibles. Artists must start digitizing their artwork and uploading them to an online art museum where you can display all your creations. This allows access to the public to your work, thus increasing exposure and profitability as a result. 

If you’re a beginner in NFT, here are practical tips that you can follow to take full advantage of its upward growth. 

Selling Art as NFT

  • Go to Twitter

It can be challenging to insert links if you are promoting your work on Instagram. If you have thousands of followers, it will be difficult to optimise this platform for selling NFTs. Bear in mind that sales will largely depend on the links to your upcoming options. If your followers are unable to share the links, there is less change for exposure for your artwork. 

Ideally, you must migrate to Twitter as this platform allows easy sharing of links. Your followers can easily share your work with other art and NFT enthusiasts. Twitter gives you the ability to share several images at once, while having the ability to place an important text and other information about your work. 

  • Use the Right Hashtags

In the digital world filled with millions of images and conversations working simultaneously, the best way to target your consumers is to use the right hashtags. Using the correct hashtags will increase your chances of becoming a valuable contributor to the NFT marketplace. Your work will be widely exposed to fellow artists and collectors alike. 

Some of the most popular hashtags include #nft #nftart #nftartist #nfts #nftcollector #nftcommunity #cryptoart #cryptoartist #nftphotography #nftanimation #nftvideo #digitalart. These hashtags are useful if you are using Twitter and Instagram to market your digital work. 

How to Get Started with NFTs

Getting started in the world of NFT is easy and straightforward. Estbalish your presence on the most popular NFT marketplaces, including Rarible, Foundation, and OpenSea. 

For artists looking to begin their journey to NFT, you’ll first need a Metamask, a Chrome extension that will serve as your virtual wallet. This will be the platform that allows you to buy and sell artwork on the blockchain. It will serve as your wallet and e-signature. Create a virtual wallet and fund it with some ETH. You can easily buy ETH using your credit card on various crypto exchanges, including Binance, Kraken, and Coinbase. Once your transaction is verified, you may then send this to your virtual wallet. Processing can take up to five days, but the waiting time is only applicable during your very first transfer. 

NFT and the Secondary Market

One distinct element of NFT-based art is that it can profit from a diverse and profitable secondary market. In the real world, once your artwork is sold to a buyer, it’s gone. You may not be able to trace if your artwork was resold. On the other hand, you not only maximise your profitability but also are able to keep track of where your artwork has gone and its current value on the market. 

In the online market, you may even charge a fee each time your artwork gets resold. Getting paid for each resell again maximises your profitability, even years after you originally sold the digital art to your original buyer. You can charge a percentage of its value. This means if your digital print sells for $2 million in 10 years, you can reap up to $200,000 in the future. This feature alone is more than enough reason for artists and content creators to migrate their work to the NFT marketplace. 

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