- Selling NFTs involves funding your wallet, choosing a marketplace, selecting an auction type, and managing your listing.
- The process varies slightly depending on the blockchain (Ethereum, Solana, Polygon), with gas fees and platform choices influencing your experience.
- Scams are common in NFT sales, including fake wallet approval messages, impersonated buyers, and fraudulent marketplaces.
- NFT rarity can significantly impact the value and visibility of an NFT, and tools like Rarity Sniper and OpenSea Rankings help sellers highlight and promote rare traits.
You’ve been diligently building your NFT collection, but maybe you feel it’s time to make a pivot into something new. Or perhaps you’ve been experimenting with digital art and want to try your hand at creating your own NFTs. If this sounds familiar, you’re likely wondering how to sell NFTs.
With millions in daily volume, selling NFTs might sound straightforward, but numerous marketplaces and various auction formats can make the process confusing. In this guide, we’ll go through every step to ensure your NFT sale is smooth and successful.
How To Sell NFTs Step by Step
If you don’t have one already, you’ll begin by setting up a crypto wallet. It should be compatible with the blockchain that hosts your NFTs. For example, if you intend to sell Ethereum NFTs, your wallet must be Ethereum compatible, while you might use a different wallet to sell NFTs on the Solana blockchain.
1. Fund Your Wallet
To begin selling NFTs, you’ll need to ensure your crypto wallet contains enough of the native token of the blockchain your NFT lives on. For example, if you’re selling on Ethereum, you’ll need ETH to cover gas fees. On the other hand, if you use Solana or Polygon, make sure you hold SOL or MATIC, respectively. If you plan on using Ethereum, always verify the current transaction fees, as they can fluctuate significantly depending on the overall activity on the network.
2. Choose an NFT Marketplace and Connect Your Wallet
Next, select a platform that supports the type of NFTs you wish to sell. Popular marketplaces include OpenSea, Rarible, Magic Eden (for Solana), LooksRare, and others. Choosing the best one for your needs will largely depend on the chain you’re using and the fee structure of the marketplace.
Once you’ve chosen your marketplace, connect your crypto wallet to it. Typically, you’ll need to approve the connection through your crypto wallet. Before you sign and authorize, double-check that you’re on a genuine NFT marketplace website by double checking the URL – spoofing a marketplace is a common way for bad actors to trick you into sending your NFTs to their wallet.
If You’re Creating your Own NFT
Alternatively, you may want to create your own NFT to sell. To do this, start by choosing a file that you want to turn into an NFT. Many of the popular formats, such as JPEG, PNG, MP4, and GIF, are supported. Some marketplaces also support 3D models or interactive media.
Navigate to the correct section of the marketplace and upload your file to create an NFT out of it. This step is known as “minting” your NFT, which permanently records your digital asset on the blockchain. You’ll have the option to create a singular NFT or an entire collection.
Once your NFT is minted, you can follow this same process to sell it.
4. Choose Your Auction Type
As your next step, you’ll have to choose the type of auction you want to use for this sale. Many of the marketplaces above let you choose between different listing styles. These include:
- Fixed Price Auction: You can set a specific price and wait for someone to buy the NFT directly.
- Timed Auction: In this type, bidders can place offers during a set window of time. Once the timed auction comes to an end, the bidder with the highest offer purchases the NFT.
- Dutch Auction: In a Dutch auction, the seller sets a high starting price that gradually decreases over time until a buyer makes a purchase or the reserve price is reached. This format creates urgency, encouraging early bidding while still allowing the market to determine fair value. Dutch auctions are commonly used for NFT drops where sellers want to balance demand with price discovery transparently.
Make your choice based on how quickly you want to sell and how much you believe your NFT is worth.
5. Add a Description for Your NFT
Next, write a compelling title and description. Mention what makes your NFT unique, what inspired it, and any additional utility or benefits it offers. For example, if it provides any specific benefits to the holder, if it can be used in certain projects, and so on. By using keywords such as “rare” or “limited edition”, you can help your listing stand out.
6. Pay the Listing Fee To Sell Your NFT
Before your NFT goes live, you may need to pay a listing or gas fee. This will depend on the blockchain and the marketplace you’re using. Furthermore, the cost can vary depending on how congested the blockchain is.
Ethereum often comes with steeper fees, while networks like Polygon and Solana offer more cost-effective alternatives. Alternatively, some platforms offer lazy minting, letting buyers cover the costs of gas.
7. Manage Your Listing
Once your NFT is live, keep an eye on it. Respond to different bids, promote your NFT on social media, and consider joining NFT communities to gain visibility. In addition, you can adjust the price or cancel the listing if you change your mind. After a successful sale, the NFT will transfer to the buyer, and the funds (minus platform fees) will go directly to your wallet.
Scams and Risks When Selling NFTs
Selling NFTs can be a rewarding experience, but the space is also filled with malicious attackers and scams. Remaining cautious and informed will help you avoid common pitfalls.
Wallet Approval Message Scam
One of the most dangerous scams involves phishing fake approval messages. Scammers send malicious links that can direct you to a website that’s an exact copy of the original marketplace. Next, you’ll receive a prompt to approve a transaction in your wallet.
If you make the mistake of approving the transaction, the hacker will gain full access to your NFTs and transfer them out. With OpenSea emails getting leaked in early 2025, users should be especially careful.
Fake Buyers Offering More Than Your Listing
Another tactic that scammers utilize is to pretend to be interested buyers and offer more than your asking price. They may then send fake payment confirmations or links asking you to “verify” the transaction. The attacker can also change the type of currency they’re offering. Always make sure you’re accepting the expected cryptocurrency.
Fake Support Staff
Lastly, there’s the support impersonation scam. Always ensure you’re using the official website of an NFT marketplace. Scammers can pretend to be part of the support team and ask for your wallet details or any other personal information. Many of these attempts happen on Discord or Telegram.
Why Does NFT Rarity Matter?
An NFT’s rarity is a key factor in influencing its market value. Rarer NFTs are more sought after because they often include unique traits or have limited availability. For example, a one-of-a-kind NFT from a popular collection can fetch significantly higher prices than common items. Rarity can be algorithmically defined (like in generative art collections) or manually curated.
Buyers often search for rare traits or limited editions when shopping, so understanding and marketing your NFT’s rarity can increase your chances of a sale. In addition, some platforms rank items based on rarity, pushing more unique NFTs to the top of listings.
How To Use NFT Rarity Tools for Selling NFTs
To accurately assess and showcase your NFT’s rarity, consider using NFT rarity tools like:
- NFTSniff: Delivers instant alerts and an intuitive interface to help users analyze the rarity of newly released NFT collections.
- PolyRare: A popular rarity tracker for Polygon NFTs, enabling users to filter collections by metrics like volume, floor price, market cap, and total supply.
- MoonRank: Designed for Solana NFTs, this tool applies statistical analysis to rank assets based on traits and market trends.
- DappRadar: Tracks thousands of decentralized apps across various blockchains, ranking NFTs by trading volume, sales, and user engagement.
These tools can help you position your NFT competitively. Including rarity stats in your listing description can add legitimacy and attract collectors hunting for undervalued assets.
Closing Thoughts
Selling an NFT isn’t just about uploading a file and waiting for buyers. It requires preparation, strategic choices, and ongoing attention to detail. From picking the right blockchain and NFT marketplace to navigating the different auction options, each step plays a role in your success.
Equally important is understanding the risks, and arming yourself with tools like rarity trackers can help you avoid pitfalls and increase your chances of making a successful sale.
