Non-fungible tokens (NFTs) are uniquely deposited Cryptocurrency assets back to early 2012 when the concept of Bitcoin first appeared.
How to Sell Non-Fungible Tokens (NFTs) At XANALIA Marketplace?
To start selling NFT at XANALIA, you must first “mint” one of your digital assets as an NFT or non-fungible token. It is a digital certificate created on a Blockchain and guarantees ownership of your work.
You can mint any digital creation as NFT, from art to writing and music to video games. It is also easy to convert a file to NFT by following simple steps. Keep in mind that the final sale price of your work will depend on thematic factors such as its quality, creativity, and reputation among potential sponsors.
Here are the steps involved in selling:
Choose XANALIA Marketplace And Create An NFT
In the first step, you have to choose the right XANALIA marketplace. It is an online repository of digital work that can be bought or sold.
There are dozens of markets, and many specialize in one particular type of digital asset. XANALIA currently boasts the largest and most diverse market for Non-fungible-tokens.
After selecting, link to your funded Cryptocurrency wallet, select the “Mint an NFT” option. After that, you have to upload your digital file. Each market process will be slightly different, but with a few clicks, most allow you to create NFT.
Also, remember that if you want to monetize your work through royalties (one percent of each subsequent sale of your NFT on the secondary market, which is payable to you), you will usually set the amount of this royalty during the monetization process.
List Your NFT For Sale
Once you have your NFT in mind, you will offer the option to list it for sale in the market. Although you can sell and transfer your NFTs to other markets, there may be additional charges.
You have to click the “Sell” button and follow the prompts. Here, you will provide some details about the transaction, such as price, and NFT buyers can use Cryptocurrencies to pay you.
At this point, Marketplace will calculate any “gas fees”, which are the Ethereum Blockchain network’s fees for recording transactions. This gas fee depends on how busy the Blockchain network is at the moment. The market will also charge a fee to handle the sale, usually one percent of the final NFT sale price.
Manage Your List
After completing the listing, your NFT is available for purchase in the market. You need to promote sales to potential sponsors through your website or social media. You can also manage your NFT listing, but keep in mind that there may be another charge for making or removing listings, and the gas fees you have already paid are non-refundable.
Sell the NFT You Bought
Selling your NFTs in the secondary market is the same process as described above, except that digital assets do not need to be minted. Just move the NFT to the market where you want to sell it (if it doesn’t already exist, or if you are storing your NFTs in your Crypto wallet and they are not available for viewing in the market).
Then click the “Sell” button on the NFT page. Marketplace listing and Gas fees will apply and reduce the final amount you take home, just like any royalty set by the original NFT creator.
How to Trade NFTs?
Selling your NFTs in the secondary market is the same process as described above, except that digital assets do not need to be minted. Just move the NFT to the market where you want to sell it (if it doesn’t already exist, or if you are storing your NFTs in your Crypto wallet and they are not available for viewing in the market) Are).
Then click the “Sell” button on the NFT page. Marketplace listing and Gas fees will apply and reduce the final amount you take home, just like any royalty set by the original NFT creator.
How to Trade NFTs
Selling NFTs is not just for digital creators. Some collectors trade with their NFTs. If you have previously purchased NFT from a creator or another collector in the market, you can also list them for sale.
When to Sell NFT
The exact timing of selling NFT will largely depend on the purpose of the NFT itself and why you made it or bought it first.
If you are an artist or digital creator, buying and selling NFTs can be a new way to pay for your work. So sales will largely depend on what you do and what buyers are willing to pay.
Keep an eye out for interest among your sponsors to maximize your selling price, but also keep in mind that gas fees can seriously reduce your profits – or even if the purchase price is sufficient.
If not more, you may have to sell at a loss. For example, for some NFT creators, high Ethereum network gas fees have been a problem, so don’t automatically expect your sales to mean a profit.
Conclusion
Selling NFTs is not easy. Monetizing and reselling your digital work will cost the Ethereum network and the Marketplace, and trade in NFTs can be uncertain given the fluctuations in this youth movement. But if you want a new outlet to build your business, then this circle of the world of Crypto is worth exploring as it can open new doors to earn your talents.
