How to start NFT business? NFT marketplace explained

Nowhere can be found not talking about NFTs and the profit behind. This intriguing money-pool market has fascinated a lot of people to invest and trade these unique assets.

So by the news we hear every single day on different platforms from news sites to social media, everybody is aiming to participate and at least experiencing this digital world of art (mostly) once. So Bonti has decided to introduce a step by step guide to NFT monetization.

How to start NFT business

To start NFT business first of all you must:

Create NFT: To start money making at this market, The first step is creating one piece of digital art that is worth buying. Nothing special is needed less than creativity and innovation. Just think about the Bored Ape collection that at the first sight seems gloomy to buy such a thing but deeply analyzing, you will realize the market is in its hands.

Or the CryptoPunks collection which is pixelated characters with no such real customs on but are trading for million dollars. Why exactly? That is where innovation comes in.

Find a relative platform: There are hundreds of NFT platforms outside which one can mint NFT for good, but the most important factor about a platform is being relative to the title of the NFT. For example there are NFT marketplaces for introducing 3D digital assets that can not be a good platform for paintings.

So the first step after creating an NFT, Is finding the platform for representing it. We are going to introduce some the most famous ones below:

Opensea

Opensea is the first NFT marketplace with the most market cap in this industry. It was first launched in 2017 when NFT was not as famous as it is now. It has more than 200 categories with more than 4 million NFTs minted. Opensea supports all types of digital art such as paintings, music, 3D art and so on.

For using this platform you don’t need to sign in with a username and a password, only a wallet connection is enough. Opensea can support different blockchains like Solana, Ethereum and Polygon. One of the reasons that has made Opensea one of the best platforms for NFT lovers, is the features it has for minting.

For instance there is a lazy minting feature that helps you mint your NFT without paying the transaction fee, So you may wonder how the fee must be paid. Don’t worry! The fee would be paid by the time it is sold.

Rarible; Easy to use

Rarible is run by the users itself and is the best platform for NFT collectors. This platform was launched in 2020 and the purpose was to support artists.

One of the great features about this NFT marketplace is that you can NFT an image multiple times and better than that is selling it multiple times! And the royalty the first owner can consider for the future sellers even makes it more amazing. Rarible is easy to use but the transaction fee for each minting has made artists doubt about minting their NFTs in Rarible.

Foundation App

This platform is somehow different from the other platforms mentioned above. Entering the Foundation App is not as easy as Opensea or Rarible; You must have an invitation from the users of this platform in order to become a member of this platform. This platform is on Ethereum Blockchain. It has unique famous users which have NFTs worth more than 1 Ethereum.

One of the major differences between Foundation App and the other ones is having limited categories in order to uniquefy the platform and the NFTs.

Axie Infinity

What can be better than a game that gives you the room to sell and buy NFTs? Axie Infinity is a pokemon character based game which provides you a space to play games and earn trophies which is its native token called Axie. By the use of Axies, You can customize your own character and battle the others and earn tokens. Then you can easily sell your NFT character on this platform.

The only con that is mostly discussed among the players, is the first need to buy three Axies when you enter the platform; because for a beginner that’s a big price to pay!

CryptoPunks; The NFT Monster

CryptoPunks is one of the oldest NFTs released by Larva Labs. This collection is made of 10,000 pixelated characters with different costumes.

CryptoPunks is on the Ethereum blockchain and buying them is not hard at all. The only obstacle is the price they have!. The most expensive one is the CryptoPunk #3100 that has been sold 7.58 million dollars!

Connect your wallet:

After finding a platform that suits your NFT, It’s time to connect your wallet to the platform. That’s your entry ticket.

But the most important reason for connecting your wallet, is the price must be paid for minting the digital art. Be careful about choosing the right wallet because each platform requires its own wallet. After connecting your wallet, it’s time to mint your NFT and done!

LastWords

In this article we tried to introduce the best NFT platforms and the way to enter this big financial market to earn money. NFTs nowadays are becoming much more popular than cryptos themselves but still have got a long way to go.