4 Simple Steps to Start Trading NFTs
Are you thinking about getting into the NFT market but don’t know where to start? Do you want to use your free time to make some extra money? Or are you considering trading NFTs as a full-time job? Regardless of your intent to get into the world of digital art, NFTs can prove to be very rewarding and profitable.
The NFT market is quite big. NFTs worth about 10 billion US dollars have been sold as of Nov 12, 2021.
The concept of NFTs is still pretty young. It’s alright to be confused and lost in this space. To make your We have explained the simplest and easy ways to make some money trading NFTs
Look for Upcoming Projects
The best method to profit from NFTs is to invest in upcoming projects. Look for different project advertisements on social media sites. Twitter is home to most of the new and upcoming NFT advertisements.
The decision on whether to invest your time and money into a project depends entirely on you. We recommend investing in a project only if you have a genuine liking for the digital art piece.
Time to Grind
Once you have chosen a project, it’s time to start working. Join their discord server. The link is usually given in the Twitter profile bio of the company.
You would have to grind a lot in their discord server. Talk to other members regularly. Help answer newbie questions. Share NFT relevant material with the group fellows. The point is to make the moderators of the server notice you as an active and contributing member.
If you succeed in getting handpicked by the mods, congrats! You are now a privileged group member. This is called being whitelisted.
You and a few other members will be given early access to purchase the NFT at a special lower price before it launches in the market.
Think of it as a ringside seat ticket to a celebrity boxing match or as an early watch of an unreleased movie. Buy the NFT at a discounted price and then wait for the official launch day.
Minting and Listing the NFT
Okay, the launch day is here. Now comes the time to finally mint your NFT. There are several websites to mint and sell your NFTs. We recommend starting with Opensea as it is one of the biggest NFT trading platforms.
Connect your Metamask or some other wallet (make one if you don’t own it currently) to the Opensea website. Create your first NFT collection by clicking on Profile–My Collections–Create. Enter the necessary details, including your wallet address.
Choose a royalty fee you would receive whenever someone trades your minted NFTs. Finally, choose your payment token and click the Create button.
Here you go, you have now successfully listed your very first NFT for sale. Expect some big profits if the NFT becomes popular.
Hopefully, we made the hefty process a bit simpler to comprehend for you. This is only one of the many ways to make money using the fulfilling NFT community.
You can even sell your own NFTs, including art pieces, music, self-clicked pictures, etc. The opportunities are endless.
Good luck with your venture into the cyber world of ones and zeros.