How to Sell a Photo as NFT: The Process and Promotion Explained
In the modern world, we all are witnessing the gradual growth of the popularity of NFTs. NFTs are shaking the world of digital art. It has become quick for photographers way to earn money and become famous. Some artists sell their NFTs for hundreds or even thousands of dollars every hour. So what exactly is NFT photography, and how can it be used?
Table of Contents
What Is NFT Photography?
NFT means “non-fungible token,” meaning it can not be replaced or altered. Unlike Bitcoin, which can be traded or exchanged for different Bitcoins, NFT is unique and unchangeable. Then what is NFT Photography? These are digital token-formed photos and different artworks; even animations can become a source of NFT. These digital token-formed artworks are uploaded to the blockchain by a photographer for selling purposes. Each image a photographer mints has its unique number and becomes a one-of-a-kind NFT.
Where to Start Selling the NFT Photos?
NFT art is sold on an NFT marketplace. These are platforms where art creators, investors, and enthusiasts create, sell and buy NFTs. Best marketplaces include:
Opensea is the first and largest NFT marketplace for photography selling. It supports a variety of crypto wallets, such as MetaMask, TrustWallet, and Torus. However, the photographers may need to put in a lot of effort and do a great job to stand out in the Opensea as there is an overwhelming number of sellers. To use the site, the photographer must pay a one-time listing fee of around $100. Afterward, the buyer covers all transactional costs. Though OpenSea takes a commission fee of 2.5%
Quantum art is another trendy NFT photography market. However, Quantum art differs from other NFT sites as it is difficult to access. The applicant must provide the following information to be selected and sold on the site.
- Twitter Username
- NFT portfolio
- A project statement
- 10 to 15 JPEGs that the applicant would like to sell
- An artist statement and resume (optional)
Foundation is a premier marketplace for NFT photography, but it is challenging to join it only if someone else invites you. Another artist sends the invitation on the platform, which has already sold an NFT. With this, the collectors are assured that the presented artists are verified. However, the seller’s fee is 15%, and artists will receive 10% royalty fees at every secondary sale of their NFTs.
Superrare mainly focuses on digital art and is determined to have only high-quality photos. That is the reason that rare collections are found here. Due to these characteristics, the buyer community in Superrare consists of those who look for unique and limited-edition photos. To join the platform, the applicant photographer needs to submit a profile for approval. Once they are in, they can start auctioning photos at a fixed price and earn 10% royalty fees.
Obscura is another NFT photography marketplace. However, the site has only a few hundred NFT photos available every year. They operate every four mounts, and like Quantum Art, they select the photographers and photos that will be sold on their platform. Among the artworks can be found artistic and dramatic pictures of war-destroyed cities.
Rarible is a great NFT marketplace. It emphasizes adolescent art rather than professional photography. The site gives freedom to sell different art forms, from animations to GIFs. To sign up, the photographer needs to connect the online wallet to Rarible.
Makersplace is a popular platform for selling NFT photos. However. Unlike other platforms, it charges more: 15% service fees and 12.5% depending on the sales type. These charges go to the platform, the Ethereum network, and its transaction processing fee. Though on Makersplace, some very popular NFT pieces of art can be sold at a very high price. Another unique feature of the platform is the possibility to pay by credit card and PayPal instead of crypto wallets.
Nifty gateway has an impressive list of collections and famous photographers. To be able to sell on Nifty Gateway, the applicants need to upload an introductory video about themselves and their work. As the platform supports buying and selling NFTs directly from an Ethereum wallet, users can save up to 70% on gas fees. However, when using other wallets, the seller must pay a 5% seller fee upfront and receive 10% royalties on every secondary sale of each NFT.
Portion is another site where photographers can publish and sell their photos. It is an auction house for buying and selling rare, high-quality NFT art. New applicants need to complete an application to gain access to the platform. The process usually includes assessing the portfolio. Portion does not keep any commission fee and allows the photographer 100% of the profit.
Mintable is the most affordable NFT platform for selling photos. It provides cheaper opportunities for selling NFT photos without paying any gas fees. Another excellent quality is that the platform has an impressive amount of photography collections compared to other platforms. The platform offers a cheaper option for photographers to mint many photos. Once the artist is ready to sell, they can set up auctions with a “buy now” option between 12 hours and seven days.
How to Sell Photographs as NFT: Steps Explanation
For selling photos as NFTs, follow the below steps:
- Do the research and choose a blockchain
Before selling the NFTs, the photographer must learn how the system works and choose a blockchain. There are many blockchains, each of which has its rules and regulations, advantages, and disadvantages. Thus, selecting the one that is more suitable for you is essential. The most popular blockchains are:
- Binance Smart Chain
- Create a cryptocurrency wallet
After choosing a blockchain comes the time to select an e-wallet that will be used to do all the necessary transactions. Some options to choose from include:
- Trust Wallet
- Coinbase Wallet
- Add cryptocurrency to the wallet
Once the cryptocurrency wallet is ready, the applicant must put some cryptocurrency in it. Cryptocurrency is necessary to do transactions and pay all the required fees, as only some actions can be paid with cash. Once the applicant does the steps mentioned above comes the time to connect the cryptocurrency wallet to the marketplace. Wallets secure the selling and buying process and make it possible to transfer cryptocurrency into dollars.
- Chose an NFT marketplace
There are several marketplace options, each with its own rules and regulations. The photographers need to research to find the ideal fit for them.
- Create Token
Once the wallet is connected, the applicant can do any transactions, such as making or listing NFT through the profile. The user can choose between creating 1/1 or semi-fungible tokens. The beginners should create a 1/1 token and check that everything works.
- Promote NFTs
The photographer must tell others about selling photographs when everything is set up. The ways of informing the collectors may vary. Usually, collectors collect pieces based on the artist rather than the image. That is why each photographer, especially new ones, needs to find their voice and put themselves in front of collectors. So let us look into the ways of marketing NFTs.
Even if someone buys NFT and obtains the copyright, the photographer still has the copyright. That is to say that the photographer still has the right to license and use the photos on social media. However, the artists can not create another NFT with the same image. An NFT buyer possesses the certificate that demonstrates they are the buyer.
The price of NFT depends on its buyer, as it is worth whatever someone is willing to pay for it. However, some factors can influence the value and price of any NFT:
Rarity means how rare an NFT is. Good examples of rare NFTs are the first artwork of popular digital art creators or an NFT created by a celebrity.
Utility means that a certain NFT can be used in different spheres, e.g., in the IT industry for video games. The higher the utility degree, the cheaper the NFT will be.
Tangibility means the connection to real-world objects and adds value to an NFT. Their practicality and scarcity determine the value of these NFTs and the personal satisfaction it gives users. Due to this factor, this kind of NFT may have a short life and are mostly suitable for short-term trading.
On marketplace platforms, the artists may see some art selling at a very high cost. But it is essential not to overprice the work as it may not attract any investors and customers (collectors). Investors want to avoid dealing with a photographer who jumps from one price to another without having any real reason. This kind of behavior is interpreted as a risky investment.
Auction and Fixed Price
Two ways of selling NFTs are regular listing and auctions. In case of an auction, the photographer sets a base price and the auction date. For the next step, the photo creator needs to do promotions to let the collectors know about the auction. Usually, the auction process lasts 24 hours, during which the collectors bid their prices. Whoever bids the highest price before the end of the auction gets the NFT. If no one bids for the NFT, it appears in the unsold list. In the case of the regular listing, there is no specific time or limitation for NFT sales. Here the NFT will be sold for any price the artist has decided. Unfortunately, the photographer will not get the price mentioned above.
How to Market Your NFT?
Build a Community
Social media can play a massive role in building a community and spreading brand awareness. For selling an NFT, the author only needs a small audience. Instead, all that is necessary is a dedicated audience ready to invest in work. For this, social media is of great use as the photographer can use followers of social media pages. The idea owner may create posts and update the process and the ready product.
You can also build a community by participating in different events. Promoting or marketing an NFT is not only carried out by posting on social media pages. Participating in gatherings with other artists of the same field or in the local art competition will be helpful. This action helps reach out to many people with the same passion for NFT.
Yes, hashtags are not only used for Instagram. They are used almost on all major social media sites and are a great way to follow the trends. For NFT photographers, rightly chosen hashtags can become a way of promotion. One way to choose the right hashtag is to keep an eye on the biggest and most famous NFT creators and influencers on certain social media and analyze the used hashtags so that later you can use them to reach more people.
Surprisingly enough, Telegram has been used by crypto-enthusiasts since its launch. The photographers can create TG channels and advertise them on social media pages. The vital aspect of TG is that ordinary content will not work here, so the artist needs to act creatively and build valuable content to gain and hold followers who can become potential investors and, why not, collectors.
The idea of teasers is that it shows what the NFT or NFT collection is about, but it keeps the intrigue and only opens some of the cards. This kind of advertisement interests the collectors, making them curious about the project, seeking more details, and bearing in mind the date of release. You can post a teaser on social media platforms or the marketplace’s webpage.
Use Paid Advertising
Ideally, you can do a lot with organic promotional methods. You can run Ads on popular social media channels (Instagram, Twitter, Facebook, etc.) to promote NFTs. But note that paid promotions require payments; thus, it is a good idea to set aside a budget. Be aware that even paid ads may only sometimes be a good idea as, in many cases, a backstory is necessary to attract customers, and that story is not seen in paid promotions.
Make Use of Influencer Marketing
NFT influencers have what photographers do not have but need a lot, and that is social proof. That is to say that a lot of people trust influencers. To start with, the photographer may contact an influencer in the same niche with an existing audience interested in NFT art. But it is costly to carry out an influencer marketing campaign. The charging amount will differ from one influencer to another depending on their reach, followers, and type of promotion. For example, a full-length video will cost more than a mention on an Instagram Reels or post.
Giveaways can widen the fanbase by asking them to complete a particular form, giving them an NFT or a few of the NFTs from the new collection as a teaser. It is possible to organize an exchange process by sending the NFTs to the e-mail address or airdrop. Another option for a giveaway can be following the artist on a particular social media, tagging a friend in the comments, sharing the post on Instagram Stories, or retweeting. In return, the follower gets the gift.
Write Articles and Give Interviews
To promote oneself, the artist may also write an article for blogs and websites or record an interview about the value and uniqueness of upcoming NFT or NFT collections to reach a more extensive range of people.
To get the right idea of what and how to pitch, the artist may look through popular NFT news channels.
Can Mobile Photographs be Sold as an NFT?
The answer is yes, and it is up to you. In the NFT world, it does not matter what a product is, as it can be a painting, video, animation, and a photo shoot via a camera or phone as long as it is in digital form.
Can You Sell Your Photo as an NFT?
The reality is that portrait, landscape, or sports event photography can become an NFT, and there are no rules or regulations.
What are the Best Types of Photos to Sell as an NFT?
Any kind of photo can be used for NFT, but unfortunately, not all of them will be sold for the same price. Thus, if you want to generate income, choose a suitable theme. Many collectors seek NFTs that express genuine notions (city, landscape, portraits, daily life, etc.) and pay a massive amount of money. To start with, you should consider animating the existing photo. However, in this case, it would be better to think about collections you can create on a particular theme, not just several random photos. Here can be helpful to consider the types of NFTs and NFT collections the collectors would like to have and display on their desktops or screens.
How do You know if Your Photo is a Good NFT or not?
Usually, the characteristics of a good NFT are a lot(strong community, unlockable content, etc.), but the two main characteristics are uniqueness and utility. For a photo to become a great NFT, it should be unique in its form, something that will grab potential clients’ attention. Besides being unique, an NFT should also create utility for owners.
Cryptocurrency and NFTs are storming the world. NFTs have become an easy way of earning money for artists, but you should also be careful because it is more challenging. The world of NFTs has its own rules and risks. However, this is not a point to give up; it is also a point for tests, experiments, and professional growth.
We hope this article gave you more information about NFTs and how to start marketing your ones.