It’s quite simple. First, you need to find a digital marketplace that you can list your NFT in, then you need to have a crypto wallet, and lastly, you need to ‘mint’ your NFT, before registering it at the marketplace.
1. Finding an NFT Marketplace
An NFT marketplace is somewhat similar to e-commerce sites such as Amazon. It basically lists out NFTs with either a fixed price or with a base price that’s open for bidding. Some marketplace sells a specific type of NFT, like how NBA Top Shot sells only their original video clips of NBA’s live basketball games.
Some are more famous than others, some use different crypto than Ethereum. So, in making your choice, you have to be sure of your preference, art category, and target market. In other words, you have to do your research very carefully. Good thing we have the internet to help you with that!
2. Creating a Crypto Wallet
After you decide on your preferred NFT Marketplace, you need to own some amount of cryptocurrency that is used by the marketplace. If you don’t have it yet, you can create a cryptocurrency wallet and convert your money into the targeted cryptocurrency. For example, if the marketplace uses XEM, you can convert your USD to XEM, or it is also common to say you have to buy XEM using USD.
Typically, Ethereum will be the top choice because it is the pioneer cryptocurrency that supports NFT. Plus, it is currently the most popular one worldwide after Bitcoin. Wait, what if you already have Bitcoins? sorry to inform you that Bitcoin does not support NFT. However, you can use bitcoin to convert it to Ethereum, or any other cryptocurrencies that support NFT.
3. Minting the NFT
Lastly, you need to hook your non-fungible item to the cryptocurrency. This process is called ‘minting’ whereby you digitally register on blockchain the non-fungible file together with related details, such as suggested price, or the story behind the art. Some marketplace offers the service to mint NFT. So yeah, make your choice wisely.
Then once the minting process is done, register the NFT to your preferred marketplace and your NFT is up for sale!
The buying process is quite similar, it’s just that instead of minting your original art, you register your name as the latest owner of the NFT after a successful purchase.