NFT (Selling Digital Art on Blockchain)
- Difficulty:Medium to Hard
- Skills:Design, cryptocurrency, marketing
- Free Tools:
Updated 2023
I originally wrote this one in 2020 before the NFT market went bananas. In 2023, the landscape for selling NFTs is very different. AI art and other factors have made it very difficult to make much money in this area of cryptocurrency. Scams, hacks and copyright infringement have also dramatically increased the level of risk.
If you are interested in getting into the NFT community to make money, I'd suggest to look at newer blockchains or blockchains and communities that still have relatively low levels of creators. For example, DeSo still enables relatively good ratio of success. Expect that other newer decentralized sodial media platforms to also make the creation and selling of NFTs easier, safer, and generally more profitable.
Some popular NFT marketplaces are below
The original content from 2020 below...This is a relatively new one. I haven't actually tried it yet, but earlier I looked at one of the rare digital art sites and saw the top seller sold about $500,000 worth of Ethereum in the last 30 days alone.
Artists can make "rare" digital art and sell it on a number of websites for cryptocurrency. Additionally, the art is tracked in the digital ledger of Ethereum and therefore can be as rare as the artist intends. It can be a one of a kind digital art or 1 of 500 copies made available. Each copy is tracked in the digital ledger and buyers can resell to someone else for a profit. This results in an entire market of art traders, creating, buying and selling rare digit art.
There are really two opportunities for someone to capitalize here. First, you can create a rare digital art piece and sell it. You get what you're asking for, plus a percentage of every sale of your artwork afterwards (wow! It's like royalties). Second - you can buy rare art, hold it and then sell it later at a hugely incresed price.