NFT, non-fungible tokens are the new sensation in the cryptocurrency world. If you are keen on the latest technologies, you might have heard about NFT. However, if you didn’t know already, in March 2021, the NFT sale hit its pinnacle with a $65 million NFT sale. And this is the reason why people showed interest in it and grabbed the opportunity to learn more about it.
NFT marketplace website offers an opportunity to auctioneers, art lovers, painters, artists, and more to sell their hard work in the form of NFT. This option is becoming increasingly popular for these professionals since the gallery doors and museums are mostly closed.
Before you learn how to set up an NFT marketplace WordPress website, it’s essential to understand what it is. As said earlier, it is non-fungible tokens and gets stored in a digital ledger. NFT is data, and it represents something, for example, artwork or different types of digital files. So, when you buy an NFT, you are essentially purchasing a digital recording of the ownership of a token. Once the transaction is completed, the token can be transferred to a digital wallet. The technology that NFT uses is similar to Litecoin, Bitcoin, and Ethereum.
As said earlier, an NFT will represent something. So, if you buy digital artwork in the form of NFT, you will be purchasing a token for the original artwork. You will get the ownership of the token, but the copyright of the work will remain with the original artist. You need to understand that NFT and cryptocurrencies run on the same technology, but they are different. With NFTs, you will purchase a token, and the value for every token will vary. Moreover, you can’t exchange NFT tokens. However, with Bitcoin, you can exchange it.
Properties of NFT Token
- NFTs can’t be divided. So, if you have one NFT, you can’t sell them individually or partially. Each NFT token will have the artist and digital artwork’s encoded information. NFTs can never be exchanged because each of them is unique.
- NFT tokens can be traded, and owners of these NFTs have multiple opportunities to monetize their assets by sharing, auctioning, and bundling them. NFTs have greater liquidity mainly because they can be traded immediately.
- NFTs often come with smart contracts, which make them hard-capped. Developers often enforce codes on NFTs so that once they get launched, they can’t be changed.
Best Ways to Sell NFTs Through Your WordPress Website
The good thing about the WordPress website is that it allows different people to sell various items. In addition, you need to understand that each NFT will be coded with a unique ID, which makes them unique forever. This means that once you create an NFT, it can’t be replicated or exchanged. One can only sell it. If you are an NFT seller and want to get started with your WordPress website, two plugins can help you with your journey. This section will talk about the plugins and how to use them to sell your NFT tokens.
Kredeum NFT is a leading plugin for your WordPress website through which you can start selling your NFT tokens. It stores every digital media in IPFS, which stands for decentralized storage technology. Therefore, it keeps your digital media secure even if there is any hosting server problem. Kredeum NFT makes it easy for everyone to sell their digital artwork and media files in the form of tokens on the NFT marketplace. This WordPress plugin lets you mint NFT from any WordPress website. Here’s how it works:
Step 1: You will first have to install the WordPress Kredeum plugin on your website.
Step 2: You will upload your digital files to WordPress. If you already have them, you can choose one of them.
Step 3: After that, you will connect Kredeum WordPress plugin. Then, you need to archive files on IPFS.
Step 4: Now, begin the minting process on Polygon. Once done, they will be deployed Kredeum Smart Contract to protect your original work.
Step 5: Finally, you can sell them on Opensea and Arkane, which are NFT marketplaces.
Tatum WordPress Plugin
Another way to sell your NFTs is by using the Tatum WordPress Plugin. With this plugin, you can create wallets, deploy, mint your digital artwork, and even sell them on their NFT marketplace. Knowing that artists and creative professionals are looking for a way to sell their work seamlessly, the Tatum WordPress plugin is here to make everything easy. Using Tatum is convenient. Here’s what you need to do:
Step 1: Visit the Tatum WordPress plugin page. Then, install it.
Step 2: Once installed, go to the dashboard of Tatum and create an account. Then get an API key. The plugin offers a free plan too. You can choose whatever suits you.
Step 3: Enter your Tatum API key on the Add New Key.
Step 4: Fund your wallet and fill in the Contract Name and Symbol.
Step 5: Once done, you need to mint your NFT token. Tatum will mint the token for you by using cutting-edge technology.
Step 6: If a customer likes the NFT token, they will add it to the cart, checkout, and pay for the same. Once done, the NFT token will get transferred to their account.
The good thing about using the NFT plugins is that they help you connect with NFT marketplaces so that you don’t have to spend time searching for them on your own. They are your ready-made solutions and make selling NFT tokens easy. Moreover, they won’t cost you much, and the Tatum WordPress plugin is also available for free.
Some Popular NFT Token Examples
Since you are interested in selling NFT tokens, lets; find what you can sell as NFT on your website. Please note that you can’t sell everything as NFT. Take a look at the options below that can be sold as NFT:
It may come as a surprise, but do you know that Jack Dorsey sold his first tweet as NFT for a whopping $2.9 million? So, if you think your tweets are as valuable as his, they can give you a reasonable price in return.
The NBA has started selling some of their special sports moments as NFT and earned 400 million dollars. The NBA is selling small video footage of extraordinary NBA moments that people would like to own.
Have you heard about CrypotoKitties? They are the early example of collectable and cute digital art creatures. They sell their characters as NFT tokens. If you are a game developer or you often create gaming characters for others, you can think of selling them as digital media.
Here’s one of the most popular NFTs. For people who are creators of original artwork, NFT platforms have become a boon. Beeple is a good example which sold their digital artwork called “Every day- the first 5000 days. Moreover, a lot of buyers are showing interest these days in buying digital artwork.
The good thing about NFT is that they give ownership to legitimate owners over their digital assets. If you are a digital art creator, leveraging on NFTs can be a massive benefit for you because it will not only let you sell your art but even earn some profit from the second purchase. Moreover, the plugins let you keep track of your NFT. You can see when someone purchased it and how quickly you sold it.