To sell NFT stocks has been not only another source of income but for many, it’s been a brand new form of relationship between owners and customers.
And even though blockchain technology allows you to be completely free of middlemen in your transaction, we will not lie to you: you have to be sharp regarding network fees and the whole process of turning your product into digital property – aka the process of minting.
It is awesome that you consider your product to be an NFT, but you have to research a little bit about the platforms that will allow your property to be safely minted while providing a good space for its promotion and not charge you immensely in a way that you don’t even see the benefits of using NFTs anymore.
So, in this article, we’re going to review what NFT stocks are, how they usually work, which are the perks of getting into the NFT stocks universe, and the points of attention once you’re in it.
How do NFTs come to life?
It is important to remember the process of creating and letting an NFT into the world before starting any explanation beyond that.
As an example, let’s say you wish to transform a photograph you took into an NFT.
First of all, you’ll need to research a platform in order to do so. It’s pretty hard to make all this process by yourself – you’d have to create your own blockchain.
It is not impossible, but it’s definitely not for everyone.
In the crypto universe nowadays there are a lot of options for that. OpenSea, Rarible, and now the one and only Klever NFT Marketplace, just to name a few.
The platform must offer a system in which you’ll be able to mint your product – transform it into the NFT per se by creating a unique code and hosting it into the blockchain they work with.
And that’s the first thing you have to pay attention to: where will my NFT be minted?
Most of the NFTs these days are hosted in the Ethereum blockchain. The reasons are many, but especially it is because Ethereum provides a very good and solid network, enabling minting through their smart contracts.
Not only that, but Ethereum was the pioneer in this possibility of building upon their own blockchain through smart contracts, and for that, they had time to work on this technology and provide more resources and feedback to the community.
Consequently, most of the biggest platforms work with Ethereum’s blockchain, which is great. However, here comes the source of complaints for whoever mints in this network: the high gas fees.
In order to mint, you have to pay an initial gas fee. And, boy, they are not so cheap.
Either way, a lot of people continue to work with Ethereum’s blockchain for its safety, trustability, and, of course, its popularity as well. The more popular Ethereum is, the more users are looking for it and consequently, the coin continues to stay relevant and valuable in the market.
However, with time, a lot of other blockchains are providing just as strong and solid systems and making their fees way more accessible than Ethereum’s.
That’s the case of the Klever NFT Marketplace in case you’re wondering. But we’ll get into that later.
Back into NFT stocks.
What are NFT stocks?
NFTs (or non-fungible tokens) exist once you ‘transform’ an asset into a digital code in the blockchain – it can be an art piece, photo, text, video, gif, a ticket to an event, and everything else you wish to monetize and get some return for selling it.
This is called minting, as we previously mentioned.
NFT stocks are nothing but the result of that transformation. Once NFTs are created and their code hosted in the blockchain, you have a digital product that now can be traded and negotiated in the crypto universe.
How do NFT stocks work?
They work pretty much the same as regular stocks – that digital asset starts to be displayed in the open market and can be purchased by whoever wishes to buy it (and has the money to do so, of course).
However, while the regular stocks’ prices are guided by market trends, what defines the value of an NFT will be buyers and sellers and their own demand in the market. As an NFT becomes more popular, the value of its exclusivity becomes higher and the price more expensive.
In addition, an important point is that just like regular stocks, NFTs prices can also fluctuate because of the volatility of the market itself.
Since you’ll receive – and the customer will pay – in cryptocurrency, every NFT transaction will be subject to the crypto’s price volatility.
In other words, let’s say you’re selling that photograph for 1 ETH.
If that’s the case, if ETH drops heavily in the market after you fixed your price, consequently, your asset will also be less valuable – because it is linked with that price. Therefore, NFT stocks’ prices are directly influenced by the crypto market in general.
How do I begin selling NFT stocks?
First of all, you’ll need a wallet.
You’ll use the wallet’s address in order to receive the payment for the digital asset that you’re selling and also to mint your NFT.
After selecting the platform you’ll use for your NFT, you will be able to choose between the wallet options they provide for you.
Once it has been done, you can connect your wallet to the platform and start your process of minting and selling your asset as a non-fungible token.
Promote your NFTs
After your NFT is ready to go, don’t just wait on buyers to pop up out of nowhere.
You have to promote your NFT just like any other product you’d be selling on the internet, right? For instance: even though you put your regular product for sale on eBay, it’s very prudent to promote that link everywhere you can, don’t you agree?
The same can be said about NFT selling.
Since there will be a lot of assets being published and promoted daily by the NFT platforms, you have to learn how to stand out and make your own promotion.
Social media is a very good resource for that. They can help you by not only promoting but creating a whole community around your products. If you choose to create profiles for your collections, for example, you’ll be able to draw in people that feel interested in your product and help you promote it as well.
And remember: almost anything can be an NFT, however, stay tuned for what the market is looking for and what people are really purchasing for their necessities.
The Klever Marketplace
The birth of KleverChain – Klever’s very own blockchain – is enabling an arsenal of possibilities for Klever users.
One of them is the Klever NFT Marketplace which has already been working with the Devikins collection and soon will be available for everyone who wishes to mint their NFTs in Klever’s blockchain.
Through the kApp technology – apps built with Klever’s engine – the NFT Marketplace is set to be the fourth one on the brand new KleverChain’s list.
The Klever NFT Marketplace will allow you to sell your NFT stocks for a fixed price or in the auction mode.
According to the KleverChain whitepaper, KLV will be used for every transaction fee, and all fixed royalties for NFTs are also paid and received in KLV while the transaction fees go to the KleverChain protocol, all fees applied on the NFT Marketplace itself go to the creator of that marketplace.
Additionally, the whitepaper adds that if an NFT creator has settled a percentage royalty upon NFT creation, any Marketplace executed order will also share the percentage specified with the creator.