Will NFT photos not sell? Since there are many people who are interested, I will explain how to sell it in this article. Speaking of NFT, it is said that games and art are the main ones. However, there are also NFT photos. It is actually listed on the marketplace. Therefore, if you are a photographer, it would be a good idea to try the NFT market.
Selling photos on the NFT market
The reality is that art and games are currently the main items in the NFT market. Is it possible to sell photos? In conclusion, it is possible to sell photos. In the conventional society, it was common sense that it was difficult to add value to digital content such as photographs and illustrations. Things with value are tangible things such as houses and cars. The reason why it has no value is that it can be copied or duplicated, and there was a lot of risk that the original work could be stolen.
However, in recent years, non-fungible tokens called NFTs have appeared, and it is now possible to know who owns them no matter what they do. The latest technology has made it difficult to reproduce digital content such as photographs and illustrations, and we have entered an era in which value is created in digital works. This has also encouraged photographers to enter the NFT market.
Changes in the NFT market
The NFT market is expanding rapidly in the 2020s. NFT boom is taking place in developed countries that are content powerhouses, especially in Europe and the United States. The NFT market suddenly expanded explosively around 2020. The global NFT transaction value has tripled in one year, from $24.5 million in 2019 to $82.5 million in 2020. and $17.6 billion in 2021.
| 2019 | $24.5 million |
| 2020 | $82.5 million |
| 2021 | $17.69 billion |
Source : 調査結果 (caa.go.jp)
NFT photos are hard to sell
The much-talked-about NFT photo is a photographed image, and the reality is that it is difficult to sell compared to games or art. Therefore, you should sell works that do not fit into the following categories. For your reference, we will explain the major characteristics of photographic works that do not sell well. When making it for the first time, be careful as you will need some tricks to make money. Please use this as a reference when preparing for activities.
high set amount
As for how it works, if you’re not a celebrity or the set price is high, you won’t be able to sell in the first place. If the set price is high, even if it is an auction, it will clearly reduce the desire to purchase, so no one will buy it. I get the impression that most NFT photos are around 0.05ETH to 0.1ETH. In addition, the NFT market is not yet stable, so prices are subject to fluctuations. As a seller, you should always check the market situation. High settings are dangerous until you get noticed.
Exhibit only similar works
In the case of NFT photos, even if you sell a large number of similar photos, they will not sell. The biggest selling point of NFT works is their rarity and originality. Buyers want high-quality pieces that are one-of-a-kind. No one will be interested if there are only similar works. Even if it does not cost anything, such as self-portrait data from smartphones, etc., it will not be easily recognized and will not sell to buyers. In that case, it’s better to make your own pictures and music.
not advertised
Even if you simply put your NFT photos on the marketplace, no one will buy them. The reason is simple, no one knows it’s for sale. Especially when you are not well known yet, you have to advertise on SNS and blogs. In order to exhibit, you must first attract customers.
no sense of unity
It will be difficult if there is no sense of unity on the photo NFT collection page. If you have some sort of policy in place when listing your work, it will be more likely that your work will be evaluated, downloaded, and have more fans. If you list anything at random, you won’t make any money and it won’t be very effective. A certain direction, experience, and quality are important for prices to rise and become expensive.
NFT is coming
It is thought that the era of NFT will continue in the future. However, it is still relatively unknown, so be sure to check the important information on the official website before entering. If you research the marketing market on your own every day, accumulate knowledge, and collect information, you will be able to understand demand and become more successful. If this is your first time, gather as much information as possible from the community, social media, blogs, tweets, and other platforms.
New entry by companies
Companies and celebrities are entering NFT one after another. Therefore, it is believed that the NFT boom will not end while there are still new entrants. As a result, the awareness of NFT is increasing even among people who have never known about NFT. Famous companies include Facebook and Adidas.
NFT introduction by SNS
Instagram and Twitter have introduced NFTs. You can now set your Twitter icon to a one-of-a-kind NFT. As a result, NFT is advertised to the general public, so it is expected that awareness will increase.
resale
Resellers are also appearing on the NFT boom. Resellers are generally disliked, but they are helping to revitalize the NFT market. The advantage of NFT resale is that it will be a digital asset, so there will be no fixed costs. Since the market is still developing, it is said that profits can be increased in the future.
Bybit’s NFT Marketplace
In today’s bybit, there is a popular NFT marketplace, so we will introduce information below. If you open an account, it is possible to actually enter and start trading, so you can buy and sell. OpenSea has also begun to handle and is recommended. Use it for buying and selling by utilizing the crypto asset Ethereum (ETH).
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