What is an NFT? How to Make Money With NFT

NFT or Non-Fungible Tokens are digital assets (also called digital collectibles). NFT is not a cryptocurrency, crypto token, or digital currency. However, you can earn cryptocurrencies, crypto tokens, or even fiat money for your NFT.

Any digital file can be converted into an NFT, for example, you can convert a digital photograph, digital art/illustration, video, music, or video game into an NFT. The process of converting a digital file into an NFT is called minting. The process of minting is done on a blockchain platform like Ethereum, Solana, Polygon, etc. and you are required to pay the minting cost, which is called gas fees.

You can make money with NFT in multiple ways,

Play NFT games and create and collect NFTs

Create and sell NFTs through NFT marketplaces

Invest in NFTs and sell for a higher price

You can play games like Axie Infinity, The Sandbox, etc. to create and collect NFTs. You can upload your digital file and mint NFT on Opensea or Solsea.

NFT: An Interesting Way to Make Money For Digital Artists

NFT provides an interesting opportunity for artists and collectors.

If you are an artist...

You can sell your art piece which might not be fit for the traditional art market

You can establish yourself as a creator of the art

You can enable an option that will pay you in the future

If you are a collector...

You will have the basic usage rights on the art

You can buy an NFT as an investment (just like you buy a painting as an investment) and sell it in the future

If you have checked NFT marketplaces like Opensea, Solsea, Binance NTF you can see most of the NFTs are digital art or digital photographs. If you check the recent sale you can see NFTs are being sold for 1-2 ETH per piece ($2000-$4000, approx.). NFT collections are even being sold for 97 ETH (the current price of 1 ETH is approximately $2000).

NFT is a great opportunity for digital artists to make money, but it needs a little bit of investment for minting costs.

Best Apps to Create NFTs For Free

Do you know what the best way to benefit from the crypto market is? Well, it is not investing in crypto, trading crypto, or staking crypto, it is creating and selling NFTs. You don’t need to invest a lot of money or have to take a financial risk to benefit from NFT. If you want to get into the NFT business, here are the best apps to create NFT for free.

MediBang Paint: This program is available on PC, Mac, Android as well as on iOS. It is an easy drag and drop tool to create comic art.

Blender: Blender is a 3D modeling open-source software. You can download the program on your computer and create your own NFT.

Krita: Similar to MediBang Paint, Krita also allows you to create 2D animations. It is available on multiple platforms, computers, and mobile devices. If you are good at drawing, you can create amazing animated NFTs.

Pixilart: Pixilart.com is another great app to create comic art.

Ambition: A Free Platform to Create NFTs

If you want to get into NFTs but do not know coding, there is no need to feel left out because there are a lot of no-code platforms that allow you to create NFT. However, the main problem with these platforms is you need to pay fees. There are some exceptions, though. If you want to create NFT free without coding, try Ambition. 

Ambition is a website that allows you to create your NFT collections (ambition.so). This website is no code NFT generator. You can generate NFT by entering little information. The website also allows you to create a smart contract without any coding and deploy your NFT in any blockchain (but this is a paid feature that cost $20 per month). The platform also allows you to create your own website (by using your own domain) so that you can allow other people to mint NFT within your website. You can also connect your website to open sea so that the NFT will show on the open marketplace.

Selling NFT: My Experience

Since a lot of people are earning a lot of money from Non Fungible Tokens, I am very much interested in earning money through NFT. I joined Opensea and solsea for this purpose. I have not started on solsea yet, but I have listed on NFT on opensea, however, I have not sold my NFT. If you want to start selling NFT, you can join opensea. Crete opensea account by integrating Metamask wallet or coinbase wallet. Once you have connected your wallet, you are ready to go. You can upload your image, photograph, and digital art, pay gas fees for mining your NFT and it will go live in a few minutes. Before you can pay for the gs fees, you need some ETH on your connected wallet so that you can pay for gas fees. How much gas fees you need to pay depends on various factors. Opensea also has a no-gas fees option, for this you need to use polygon blockchain instead of Ethereum. Now, you might want to know, is it actually easy to make money from NFT. Well, I do not have an answer because I listed my NFT three months ago but it is unsold.