When starting NFT art, we will explain the selling price setting and market price in the market in this article. The market has been expanding rapidly since the 2020s, and a large number of users have begun to take on the challenge. When listing NFTs, one thing everyone is concerned about is the market price. Are you worried about how much you should sell your work for?
Market price of NFT art
Since there are many NFT art pieces created with pictures, the market price varies considerably. The reason for this is that the NFT market itself is not stable to begin with, and it is still an emerging industry, so the price has not been determined at all. If you look at opensea etc. as a reference, the overall trend is that the recommended selling price is around 0.05 to 0.1 ETH. If you raise it higher than this, it is likely that it will be difficult to earn money.
profitability
The creator must be aware of the profitability, unless they are reselling or doing it as a hobby. Gas fees will be charged when listing NFTs. Gas costs approximately 0.05 ETH. If you do not take this gas cost into account when setting prices, it will be difficult to make a profit. If it becomes even more famous, there is a possibility of secondary distribution from collectors. Artists should initially set a low selling price.
market price research
First of all, it is better to check the market price before putting out the work. This is because the market price varies depending on the type of art work and the genre. Even if you say art, there should be various things such as animal design and game character design. It is safe to decide the price while looking at the NFT marketplace. As explained above, the NFT market is still unstable and pricing varies considerably.
NFT market bubble
The NFT market from 2021 to 2022 is at an important stage as it is popular and is experiencing a bubble on the web. When creating something, the key is to take your time and create a good piece that is easy to sell. When buying and selling, it is important to be aware of how you can motivate the buyer. Let’s take a look at the market price and understand the major trends in illustrations.
For beginners
If you are new to NFT art, you can start with a low price in order to build a track record. This is because knowing how many works will sell for how much will make it easier to set accurate prices in the future. If you make a sales record of NFT, the value as a creator will gradually increase, and from the next time, there will be people who will buy it even if the price is higher. Therefore, I think that you should focus on making achievements rather than profits at first.
Points for selling NFT art
In order to sell NFT art, it is necessary to let people know that you have your own work in the first place. First of all, it is important to advertise on SNS and blogs. Individuals must submit their own information. If you don’t attract customers, no one will buy it, so please try to promote your work on Twitter. If you can attract customers, the number of viewers will increase, and the number of people who buy will gradually increase.
add value
The side selling NFT art is only thinking about making money, but it is necessary to think about the buyer side. By giving the buyer what kind of merits there are by purchasing NFT art, the number of people who will buy it will increase. For example, it is important to give some kind of advantage, such as receiving priority purchase rights or being invited to an exclusive community. Let’s take advantage of owning NFT.
Bybit’s NFT Marketplace
The latest version of Bybit has an NFT marketplace. Once you open an account, you can actually enter and trade, so let’s give it a try. If you are a first-time user, it is best to completely ignore product prices and profits even if you register, and decide on your own concept and publish your work. Once you have a general understanding of the marketing situation and have gotten the hang of it, it would be a good idea to promote specific works that will earn you money and gradually release each one.
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