Guide to sell your NFT Photos
Are you a passionate photographer striving to earn a living by doing what you love? You have come to the right place. And the best part? By reading this article, you will learn multiple ways to sell your NFT photo and make money out of it. While It’s possible to do it in a variety of ways, let’s focus on the 3 most famous and easy ones for now.
In any case, this guide is exclusively for those searching for a way to make money that supports their passions and improves their quality of life. Let’s get started.
Blockchain technology has revolutionized everything including the way people do day-to-day business, particularly in the NFT sphere, where earning money from it has become a common practice.
NFTs are all the rage these days, which is not surprising considering the success records of NFT artists around the globe. Then there’s a JPG file auctioned for $69 million, igniting interest in NFTs.
Cryptocurrency speculation is nothing new, some say. Much like the Internet, some believe this technology is here to stay and will make a meaningful impact on the world.
What really puzzles many is the possibility of such an event. Fortunately, you do not have to worry since we will guide you through this NFT photo buying and selling process from start to finish. Let’s see what NFT photography entails.
What NFT Photography Is All About?
In NFTs, photos can be sold as non-fungible tokens as well as investors collecting NFTs have the opportunity to buy unique pieces that may sell for thousands, or even millions, of dollars in the future.
An NFT is essentially a digital version of a traditional photo, which can range from landscapes to portraits to 2D images to GIFs. It is only possible to purchase NFT photography and invest in it with cryptocurrencies, primarily Ethereum.
A digital wallet is required to sell NFT photography. As the metaverse is slowly but surely adopted by the world, it is becoming an integral part of daily life for many professionals.
The basics of selling photos as NFTs
It is possible for anyone to sell photos as NFTs, but there are some requirements to get started.
As your first step, you will have to find an original piece of art and – in this scenario – a photograph that is unique. Whatever form of art you choose, from portraits to landscapes to drones and sports photography, every piece of art is capable of becoming an NFT.
Once you have decided what photos are worth selling as NFTs, you need to figure out how to go about it. You can start by selecting a blockchain platform.
Best Blockchain Platform To Use
Multiple blockchain platforms exist out there, each with its own set of rules and regulations.
Choosing the right platform is therefore crucial since it will be the place where you will create and possibly sell your NFT Photo. Selecting marketplaces and tools that are compatible is also crucial.
Blockchains such as Ethereum, Binance smart chain, and Tezos are currently the most popular.
Decide which one you are going to go with.
Ethereum, however, dominates the market for minting NFTs, making it an excellent choice if you want your work to get more exposure.
Set up a cryptocurrency wallet
Choosing a blockchain is only the first step. You must then choose a cryptocurrency wallet to make all your transactions. ERC-721-compatible wallets are necessary for the Ethereum ecosystem. Coinbase Wallet, TrustWallet, and MetaMask are among the best options.
For digital crypto wallets, Metamask is the top choice by many.
Now, choose a currency and fill your wallet with it
The next step is to purchase cryptocurrencies. Ethereum is most likely the one you will purchase after opening your crypto wallet. As a result, you will be able to sell your NFTs on the blockchain and process the transactions. The two options are now available to you. If you wish to buy Ethereum via MetaMask, you can do so directly or by registering on an exchange such as Binance.
With this option, cryptocurrencies (Ethereum) can be purchased directly from MetaMask and sent straight to your wallet. The recommended amount of Ethereum (ETH) to buy is between $100 and $200. After purchasing Ethereum, you will need to pay the listing fees on the marketplace to sell the photo you have minted.
How to Sell NFT Photos?
Selling NFT photos has become an increasingly popular way for photographers and digital artists to monetize their work. Here’s a step-by-step guide to help you successfully sell your NFT photos.
- Create high-quality digital photos: Capture or design eye-catching, unique images that showcase your artistic skills and vision. Ensure that the resolution and file size are appropriate for NFT platforms.
- Choose a blockchain network: Research and select a suitable blockchain network like Ethereum, Binance Smart Chain, or Solana to mint and sell your NFTs.
- Set up a digital wallet: Create a digital wallet compatible with your chosen blockchain network. This wallet will store your NFTs and facilitate transactions.
- Familiarize yourself with gas fees: Understand the gas fees associated with minting and selling NFTs on your chosen network, as these costs may affect your profitability.
- Mint your NFT: Convert your digital photo into an NFT by uploading it to a platform like Rarible, OpenSea, or Foundation, and follow their minting process.
- Determine pricing and auction strategy: Set a fixed price or use an auction format to sell your NFT. Consider the rarity, uniqueness, and demand for your work when determining the price.
- Promote your NFT: Share your NFT listing on social media, art forums, and online communities to generate interest from potential buyers.
- Monitor and engage with interested buyers: Respond to inquiries, provide additional information, and interact with potential buyers to foster trust and increase the likelihood of a successful sale.
- Complete the sale: Once a buyer agrees to the terms, transfer the NFT using your digital wallet, and receive payment in the form of cryptocurrency.
- Keep track of your sales: Maintain records of your NFT transactions for tax and legal purposes, as well as to track your progress as an NFT artist.
7 ways to earn money by selling your NFT photo
- Collaborations with brands: Partner with well-known brands to create exclusive NFT photo collections, leveraging their audience and reputation to increase the value of your work and generate sales.
- Limited edition series: Release a series of limited edition NFT photos to create scarcity and drive demand, potentially leading to higher prices and increased profits.
- NFT photo bundles: Combine multiple NFT photos into thematic bundles, offering collectors a more comprehensive package at a discounted rate, thus incentivizing sales.
- Royalty agreements: Negotiate royalty terms when selling your NFT photos, allowing you to earn a percentage of future sales or secondary market transactions, creating a passive income stream.
- Cross-promotion with other artists: Collaborate with other NFT artists to create unique, joint works that combine different artistic styles and reach wider audiences, increasing exposure and potential sales.
- Offer additional incentives: Provide exclusive perks, such as access to behind-the-scenes content, physical prints, or personalized consultations, to attract more buyers and increase the perceived value of your NFT photos.
- Host NFT photo contests: Organize contests where participants must purchase your NFT photos to enter, generating excitement, driving sales, and increasing the overall visibility of your work within the NFT community.
Pros and Cons of NFT
Pros:
Ownership and provenance: NFTs utilize blockchain technology to provide indisputable proof of ownership and provenance, ensuring that creators and collectors can easily verify the authenticity of digital assets.
Royalty income for creators: NFTs enable artists to receive royalties from secondary market sales, providing a sustainable income stream and allowing them to benefit from the appreciation of their work over time.
Digital asset scarcity: NFTs create digital scarcity by assigning a unique token to each digital asset, which helps maintain the value of the artwork and can result in increased demand and higher prices.
Cons:
Environmental impact: The energy consumption associated with some blockchain networks, particularly proof-of-work-based networks like Ethereum, contributes to the growing concern about the environmental impact of NFTs.
Market volatility: The NFT market is still relatively young and can be prone to fluctuations and speculative bubbles, which may lead to uncertainty for both creators and collectors regarding the long-term value of NFTs.
Copyright and plagiarism concerns: The ease with which digital content can be copied or reproduced raises concerns about plagiarism and copyright infringement, as unscrupulous individuals may attempt to create and sell unauthorized NFTs using other artists’ work.
Method of Selling your 1st NFT photo
It’s pretty straightforward to put your photos up for sale as NFTs. If the platform you choose to sell on has a digital wallet connection, you can begin selling.
It is common for NFTs to be minted and listed with associated fees. You can expect a percentage of the sale price from your chosen auction platform.
Foundation can charge a flat fee of 2.5%, while OpenSea can charge a flat fee of 15%.
A minting and listing fee is also charged.
In Ethereum, costs are determined by the gas fee (also known as gwei), which is compensation for the computational effort involved in the processing and validating transactions.
Over certain periods, the gwei can get quite high depending on how much stress is on the blockchain, so you should keep your NFT ready to go and mint and list when the gwei is at its lowest.
You can find gas fees at their lowest in the UK early in the morning whilst the US is asleep. However, you can keep an eye on gas fees on the Internet at any time.
Using OpenSea to sell an NFT photo
NFT photography is widely available on OpenSea, where many artists sell their works. The first step is to create an account and retrieve your digital wallet.
Using MetaMask is recommended as it is the most universal.
You can then head over to OpenSea’s homepage after you’ve chosen what photo you want to sell as an NFT. In this section, you must click on “Create” in the upper right corner.
Almost any file format is accepted by OpenSea, as well as files up to 100 MB in size.
Choosing an auction type is the next step after uploading your file. If you want to sell your NFT photo, you can either offer a fixed price, or you can bid on it. Ensure that all details are filled in without leaving any empty spaces.
A great way to display your complete portfolio outside OpenSea is to create an external link.
After that, you will have to pay the posting fee (gas fee), and then you can begin selling. There can be a lot of variation in the “gas fee” according to the hour and the number of network users at the time.
A one-time gas fee applies to the first NFT photography listing you make. When you have completed this process, you can proceed to list all your subsequent images for free by using the “lazy minting” feature.
How much do Opensea fees cost?
Lazy mining is one of the features OpenSea offers, but that does not mean OpenSea doesn’t charge any fees. Whenever you want to sell an NFT photo, you must know that OpenSea charges a fee for each sale made on their platform, such as:
- Selling NFTs
- Getting NFTs from other users and transferring them
- Cancelling previous bids
- Cancelling previously listed NFTs
- Cryptocurrency conversion
- Buying NFTs
- When accepting offers
A platform fee of 2.5% will be charged when an offer is received on your listing. The royalty you will receive on secondary sales can also be set at up to 10%.
Using Foundation to sell an NFT photo
Even though both Foundation and OpenSea serve the same purpose, they are pretty different from each other.
It should be noted that Foundation is an invitation-only platform. In order to start selling photos as NFT, you must be invited by another creator (that has sold at least one NFT).
Additionally, each artist and collector will admire the ease of use of the Foundation’s user interface.
The 24-hour bid, however, may not be appreciated by everyone once the first bid has been placed. Whenever you make another bid, you must raise it by at least 10% over your previous bid.
Due to its limitations and higher fees, Foundation is different from its competitor, OpenSea.
Unlike other platforms, NFT photography cannot be posted for sale on Foundation because it is an exclusive platform. The “lazy minting” feature is not available in Foundation. Each image you mint and list in your collection will cost you double in gas fees.
How To Promote Your NFT Photo
Once you’ve set up your marketplace, you’ll need to promote your NFT photos to potential buyers. Here are some tips for promoting your NFT photos:
Leverage Social Media: You can use social media platforms such as Twitter, Instagram, and YouTube to promote your NFT photos. Create accounts on these platforms and post regularly to engage with potential buyers.
Leverage Influencers: You can also use influencers to promote your NFT photos. Reach out to influencers in your niche and ask them to promote your photos to their followers.
Post on Forums and Subreddits: Posting on forums and subreddits related to your niche can be a great way to promote your NFT photos. Make sure to follow the rules of the forums and subreddits and be respectful when interacting with other users.
Use Online Marketing Strategies: Online marketing strategies such as SEO and PPC can also be used to promote your NFT photos. Make sure to research the best keywords to target and create content that is optimized for search engines.
How to price your work
When it comes to NFTs, pricing your work is no different than for any other photographer.
It is likely that some pieces of your NFT photography will sell for enormous sums of money and some for relatively low prices.
You must avoid overpricing your work so that no collectors are attracted to it.
Rather than traditional image licensing, this is an investment and collectible business. There is nothing investors dislike more than an investor jumping from one pricing structure to another for no reason. Taking on this kind of risk is a sign that a creative isn’t fully aware of how their work should be valued or what it’s worth.
Copyright and ownership of NFT
Currently, the purchaser of an NFT owns the digital asset, but the photographer retains the copyright. It is As if you were purchasing an Ansel Adams print that is one of a kind or is a limited edition. In other words, the buyer owns only the piece they purchase, which is theirs to sell at any time.
Marketing NFT photo
It’s not just about minting your photos and listing them on NFT marketplaces when you learn how to sell a photo as NFT. To make money with NFT photography, you’ll also have to market your NFT photographs on social media after minting and listing. You can market your NFT photography using these popular methods to make sales:
Until a couple of years ago, Twitter was a common social media tool, but it has become increasingly popular in the crypto and NFT communities. No matter whether you’re interested in checking out the latest projects or new platforms, Twitter is simply the place for you.
You can get started on Twitter by following celebrities in the NFT space, liking, commenting, and retweeting their work. Engage with fellow collectors and become friends with collectors who may buy from you by supporting and engaging with them.
The ‘Twitter Spaces’ feature on Twitter is also handy. This is primarily an audio-based chat room. In this room, you can discuss your work, ask questions, and introduce yourself. You’ll reap the benefits over time if you spend some time on Twitter each day.
Discord
Marketing your photography NFTs on Discord is one of the best ways to reach a wider audience. It was originally designed primarily for gamers when it was launched in 2015. Now, it hosts crypto and NFT spheres that are becoming increasingly popular.
Marketing your NFT involves starting a discussion and creating a community where users can exchange ideas and learn from each other. With Discord, you will be able to discuss your project with other artists and collectors, participate in online streaming events, and share your work with others. Furthermore, sign up for Discord, join a few servers, interact with other artists, and create a Facebook page. For NFT photographers, Discord is an excellent platform for gaining more traction.
Using Instagram as a marketing outlet for your NFT photography is similar to using Twitter. You can create a portfolio profile, participate in the discussion section, post your latest works, and engage with the community. Your Instagram strategy should include sharing stories about your photography NFTs, reels, and posts. In this way, more traffic will be directed at your artwork on OpenSea or any other site where you decide to publish it.
How do people use NFTs?
A person who buys NFTs is either a speculator or a collector. A speculator purchases in hopes of reselling at a higher price later. Conversely, collectors buy artwork to show their appreciation for the artist and his work.
How are NFTs useful to photographers?
Traditional art markets have historically ignored photography and other digital art forms, ignoring the ‘uniqueness’ of digital art. There is an opportunity for photographers and collectors in the growth of this new market that adds value to digital assets.
Conclusion
Since NFT is still very early in its development, it’s hard to tell where it will go. It is predicted that it will become one of the mainstays of art and photography collections shortly.
As most photography and even art are now produced digitally, it is expected this market segment is only going to continue to increase in the near future. The licensing of images is also possible through these platforms. It means picture buyers have access to the complete image history with NFTs due to the blockchain ledger providing them with a more specific option for purchasing pictures.
NFTs can help you turn your career around if you have had trouble monetizing your fine art photography until now.
Frequently Asked Questions
Hi, my name is Brandan Henry, and I’m an NFT, Blockchain, and Research enthusiast, as well as a content writer for NFT-onomics. I’m deeply passionate about exploring the potential of NFTs and blockchain technology. My mission is to educate people on the capabilities of non-fungible tokens and their applications. I stay up-to-date with the latest NFT news and trends, and as a full-time writer, I excel at generating creative, out-of-the-box ideas surrounding NFTs.