Beginners guide to earn from NFTs

This Beginners Guide to earn from NFTs will help you overcome obstacles and solve problems when buying and selling NFTs.

10/18/20223 min read

Learning how to earn from NFTs can be very difficult. There is a lot of information to absorb and a lot of detail. All of this can make you feel a little unsure. This Beginners Guide to earn from NFTs will help you overcome obstacles and solve problems when buying and selling NFTs.

Where can NFTs be bought and sold?

Several different blockchains support NFTs. And each of them has its advantages and disadvantages. Ethereum is the blockchain where the vast majority of all NFT transactions take place, but it can be expensive to use. Solana may have very low transaction fees, but it has far fewer users. Tezos has a great collection of art, but ultimately it may not be as popular as some of the larger works. The type of blockchain you choose depends on your goals. For this article, we will cover the most used blockchain NFT in the most used market.

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Buying an NFT

Buying an NFT is a simple transaction of exchanging an NFT for a coin on an open market. Once an NFT has already been added to the blockchain. And you're buying from a secondary source, that's called buying. You can make trades outside the market and earn from NFTs, but we never recommend doing these risky trades, because many scammers are trying to steal your NFTs

How to buy an NFT on Opensea?

NFT markets will vary from one to another, but often have the same characteristics for buying and selling NFTs. As mentioned, this article uses Opensea as an example because it does the largest volume of sales in the NFT space. When you're ready to buy NFTs, Do all your research to make an informed decision. Once you have connected your wallet to OpenSea and have enough Ethereum to pay the NFT price plus, you can send a transaction. When buying or selling an NFT, a transaction is made through the marketplace that gives ETH to the seller, the purchased NFT(s) to the buyer, royalties to the creator, and a fee to the marketplace. As you can see in this example, the current price of the NFT we want to buy is 0.03 ETH ($127.39). And the "Buy Now" button is ready to click.

We see the NFT we are buying, we see the set we are buying from, and I agree to buy. Popular collections with high sales volume have a blue check mark next to their collection name. When buying a set that has a blue check mark, always check the blue check mark during the sale to avoid fraud. After pressing the 'Buy Now button you will be asked to see a confirmation window. The tracking window is the last confirmation we need to make before confirming the payment to our wallet. In this case, it will ask for our Metamask wallet. If it was an Opensea-approved project, a blue checkmark would appear next to the collection name. This is when you can approve or reject the transaction in the final step of the buying process. Your transaction will appear as "expending" on your activity page until it is executed. Once the transaction is done via blockchain protocols, the NFT will immediately appear in your wallet and your ETH will go to the seller and other appropriate channels

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How to sell NFT on OpenSea

In this scenario, you decide to sell NFT on OpenSea. It can be for any reason. Maybe you want to profit from a growing project, you want to reinvest in the project for a different style of NFT, or you don't want it anymore. There is no shame in selling NFTs and everyone is free in one's action to make their own decisions. Go to your profile and find your collection. Select the NFT you want to sell. When you're ready to sell your NFT for the price you think it's worth and earn from NFTs, you'll want to list it on OpenSea for another potential buyer to see and buy it. First, you need to press the big blue "Sell" button in the upper right corner of the screen, which will take you to the "List Item for sale" page, where you will be presented with several options. How you want to sell your NFT is up to you. And OpenSea provides you with different options based on your goals.