For a hot minute now, NFT photography, and NFTs in general, have been receiving a lot of buzz.
It’s safe to assume that you’ve at least heard someone talk about it.
Photography and other forms of art have been selling for millions of dollars, making this an appealing option for artists and collectors alike.
But what exactly are NFTs, and why should photographers care?
More significantly, how can you get started and make money from your stunning photographs?
This is what we’ll look at in more detail in this post.
Please read on to learn everything you need to know about starting off with NFT Photography.
Those of you who have already dabbled in this area may wish to read on for some pointers on how to increase sales.
Let’s get to it!
What Exactly Is NFT Photography?
Non-fungible tokens, or NFTs, are digital assets.
Photos, GIFs, graphics, audio files, videos, and other media can be used to create them.
Every NFT is one-of-a-kind and regarded as a collector’s item.
NFTs are also stored in a blockchain digital ledger, which ensures their legitimacy and exclusivity.
You won’t have to worry about fake assets this way.
In addition, the method maintains ownership transparency and keeps account of the transactions that an NFT engages in.
Online markets are used to sell NFTs.
Sellers tokenize their artwork and transmit ownership of the tokens to buyers on this platform.
Because all transactions are made with cryptocurrencies, the blockchain registers the purchase once a buyer sends the price of an NFT in crypto.
Buyers can either place a bid on these digital assets or work out a deal with the seller.
Related Reading: How Crypto Staking Works – Click Here To Find Out.
The Issue of Copyright
When it comes to NFT Photography, one of the most frequently asked questions is about copyright.
What are the collector’s rights?
What about your rights?
In general, after selling an NFT, the artist retains the copyright and the right to use the image for commercial purposes, printing, or licensing.
It is not permissible, however, to generate a new NFT with the same image.
The collector has no economic rights to the NFT and can sell or trade it as they wish.
They can’t, for example, make copies of the file and license them or sell prints made from it.
Other arrangements with collectors and the grant of individual rights are, of course, available.
This might be done via a tailored, smart contract for the tech-savvy.
Royalties on Future Sales
The fact that you collect royalties on future sales is a unique feature of NFTs.
This is in stark contrast to the physical world, where once an image has been sold, you are unlikely to encounter it again.
It’s a different story in the realm of NFTs.
Let’s imagine you create and sell an NFT for 0.2 Ethereum (ETH).
After a few months, you’ve established a solid reputation, and the NFT resells for 10 ETH.
A portion of the sale is subsequently deposited to your bank account (typically 10%, though this depends on the platform).
That indicates you made 1ETH from customer A selling to buyer B in this case.
This is a massive benefit for artists because they can continue to profit from the same NFT when it resells in the future.
Why Is NFT Photography Booming Right Now?
While numerous things can and will be represented as NFTs in the future, there are clearly several existing mediums that make the shift to NFTs relatively easy right now.
Photography is undoubtedly one of them.
For one thing, today’s photography is almost entirely digital.
Photographs taken on film are frequently scanned and converted to digital files.
As a result, images are ideal assets for use as NFTs.
Another fantastic feature of NFT Photography is that it can help creators earn royalties.
From landscape photography to stock photography NFTs, there will always be buyers for visual content.
For those who aren’t aware, one of the main reasons why NFTs have become so popular among musicians is the ability to write eternal royalties into smart contracts.
This is fantastic for photographers who are normally only compensated for the first sale of a print, stock photo, or commission if they are compensated at all.
Similarly, the proliferation of NFTs has eliminated the need for go-betweens in the sale of photography.
Photographers and other artists have traditionally relied on intermediaries, whether in the form of galleries, channels, or even social networking sites like Instagram.
Photographers now have considerably more possibilities for selling their work, thanks to NFTs.
How To Sell NFT Photography: A Step-by-step Guide
Let’s take a closer look at how you can set up and prepare for your first sales now that you know what NFTs are.
You probably also know by now the function of photography in the NFT space.
However, there are a few stages and considerations that must be made before some sales may take place.
I understand that this can be a little confusing at times, but I’ll do my best to simplify the following steps on how to sell NFT photography.
Step 1: Get A Hold On Some Ethereum On A Crypto Exchange
Square one on this journey is to buy Ethereum on a cryptocurrency exchange.
This is because when you first sign up for a marketplace, you’ll have to pay a service/transaction fee.
We’ll look at the various platforms available later on in this guide.
There are numerous reputable exchanges to choose from, and I suggest conducting some research to see which fits you best.
Generally, the most dependable are:
I can’t stress enough that before moving money to an exchange, make sure you do your own research.
The exact amount of money you’ll need depends on where you want to sell your images.
I’d say $150 to $250 should be plenty to get you started on most platforms.
Step 2: Get Yourself A Digital Wallet
You’ll also need to set up a digital wallet before you can start trading or purchasing NFTs.
This is where you can keep both the cryptocurrency you’ve earned through sales and the NFTs you’ve bought.
Any transaction that you make in it must be approved.
Most of the markets where NFTs are offered require a crypto wallet even to log in.
There is a plethora of valuable materials available that explain what digital wallets are and how they are utilized.
A brief Google search will present you with a wealth of important information.
For the time being, I’ll keep it simple and advise using the MetaMask wallet.
On the Ethereum blockchain, this is likely the most popular digital wallet (which currently is the biggest for NFTs).
It’s also crucial to remember that your wallet address is linked to all of your transactions.
When you mint (make) an NFT, for example, it is linked to your wallet address until it is sold.
The money will be transferred to the collector’s wallet after that.
This transaction is recorded on the blockchain, which serves as a public ledger that allows anybody to see who produced the NFT and who owns it now.
Never tell anyone your seed phrase.
Giving your seed phrase to someone allows them complete access to your crypto wallet.
Instead of saving the seed phrase on your computer or phone, write it down on a piece of paper or save it somewhere safe.
Related Reading: Best Places To Buy And Sell Cryptocurrency – Get The Full List Here.
Step 3: Select The Most Appropriate Marketplace To Sell Your NFTs.
Soon, you’ll discover that there’s no one-stop shop for listing and selling your NFTs.
There are several platforms and NFT marketplaces, and new ones emerge regularly.
Each platform is distinct and values various sorts of digital art.
They also have diverse functionalities and smart contracts that are shared.
Let’s take a deep dive into the most prominent NFT photography marketplaces:
As of January 2022, Opensea’s monthly transaction volume had surpassed $3.5 billion, making it the most popular marketplace for NFTs.
It’s challenging to gain visibility on such a large platform, and, to be honest, Opensea isn’t well-designed for browsing.
It’s kind of like the eBay of NFTs.
Opensea’s key benefit is that it has a low entry barrier.
To begin selling your NFTs, you will not need to make a big financial commitment.
When you first list an NFT on their platform, you’ll have to pay a service fee.
The actual cost is determined by the current gas price (more on that later), but it could range from $50 to several hundred dollars.
The fact that Opensea uses lazy-minting makes them more inexpensive.
In a nutshell, this means you don’t have to mint or pay a transaction fee when you create your NFT.
Before it is sold, it is technically not minted on the blockchain, and the buyer pays the transaction fee.
This is a valuable feature because it eliminates the need to spend hundreds of dollars listing your NFTs.
One of the most exclusive NFT marketplaces available is SuperRare.
This is an invite-only platform, and the invitation must come directly from the platform.
You must submit an application as well as make a video presenting yourself and your work.
It’s a high bar to meet to get admitted, but they’re progressively allowing more artists in.
Collectors take notice of collectors who are admitted onto the site.
It’s not uncommon to see higher expensive sales here because it’s an exclusive NFT marketplace.
Foundations is a bit more stringent marketplace since you must first receive an invitation before minting and selling your work.
Creators who have already signed up for the site will be sent invitations to distribute once they have sold some of their work.
Although invitations can be difficult to come by at times, many artists are more than glad to provide you with one if they have any available.
Don’t be hesitant to ask to be let in!
On Foundation, minting is a little different than on Opensea.
The primary distinction is that Foundation does not allow for lazy-minting.
This implies you’ll have to pay a gas fee to mint and list your NFT (which is usually around $100).
It also means that you won’t be able to go back and correct a mistake.
You’d have to remove the NFT (which is a gas-consuming transaction) and re-upload it.
The platform costs are also substantially higher, at 15% for primary sales against 2.5% for Opensea.
Although this may be enough to put most people off, it is still the most popular site for artists selling solitary NFTs.
The key reason is that Foundation offers a robust user interface that makes browsing and viewing work easier.
A large number of collectors use this as their principal source of art.
About Ethereum Gas Fees
The minimum charge for the computing energy necessary to record a transaction on the Ethereum blockchain is known as Ethereum gas fees.
Gas fees fluctuate based on the amount of stress the servers are under and the workload.
Every transaction on Ethereum is visible to the broader public for verification, as it is a digital ledger.
Gas fees are relatively high when there are a large number of transactions.
On the contrary, if the blockchain’s load is low, the gas fees will be low as well.
The value of Ether in real-time has a direct impact on gas prices.
So, if you want to mint a photograph as an NFT, check the gas fees and figure out how much it will cost you before deciding on a price.
Step 4: Determine What Your NFT Will Be
The last stage before you start making your NFT is to decide what kind of NFT you want to make.
I’m not only talking about aesthetics but also whether it will be a limited-edition NFT, a stand-alone work, or part of a collection.
Your decision will have an impact on both the price and the platform.
There is no such thing as a right or wrong decision in this respect.
Different artists employ various tactics, and what works for one may not work for another.
What matters is that you make a calculated decision and have a strategy for moving forward.
NFTs can be sold as editions in the same way that prints are sold in the real world.
This might be a one-of-a-kind, a 10-of-a-kind, a 100-of-a-kind, or as many as you like.
The most frequent edition size is one, but a more affordable edition can help you reach out to more collectors.
Editions are generally more successful for photographers who have a large following or have achieved a certain level of success in the NFT realm.
The second thing to think about is whether you’ll be selling your NFT as a single image or as part of a collection.
This will have an impact on the NFT marketplace you choose as well as the image prices.
Marketing Your NFT Photography
A “How To Sell NFT Photography” article won’t be complete without tackling marketing.
Selling NFT photography entails more than merely minting your images and putting them up for sale on NFT markets.
In order to gain popularity and subsequently make money with NFT photography, you’ll need to sell your collection on social media.
Here are the most popular methods for marketing and selling your NFT images:
Twitter was a standard social media platform until a few years ago, but it has become a popular choice for crypto and NFT community gatherings.
It’s THE place to be if you’re looking for the most popular projects, new NFT marketplaces, or even new sales prospects as a collector.
To get started on Twitter, follow NFT celebrities, like, comment on, and retweet other artists’ work.
Participate in the community by supporting and talking with others, and make friends with collectors who could buy from you.
Twitter also has a nice feature called ‘Twitter Spaces,’ which are audio-based chat rooms where you may request to talk in one, introduce yourself, ask questions, and show off your work.
Investing a couple of minutes each day on Twitter will pay off in the long run.
Marketing your NFT photos on Instagram, similar to Twitter, is a solid strategy to draw collectors to your work.
Create a profile for your portfolio (or utilize your existing profile if you already have an audience), participate in the comment section, and share your most recent work.
Of course, you’ll want to share stories, reels, and posts related to your NFT photography as part of any Instagram campaign.
This will increase the number of visitors to your artwork on OpenSea or any other sites you choose to use.
Discord is, without a doubt, one of the most effective ways to promote your photography NFTs.
It was first launched in 2015 as a gaming platform, but it has since transitioned to hosting some of the most crowded crypto and NFT venues.
Starting a conversation and creating a community where users can connect with one another is the best way to sell your NFT.
You can talk to other artists and collectors on Discord, participate in online streaming events, and advertise your project.
Also, build a Discord profile, join several servers, interact with the community, and make friends with other artists.
Discord is a fantastic place for promoting your NFT photography portfolio!
Related Reading: Best Crypto Savings Account – Find More Here.
How To Price Your NFT Images
What should you charge for your NFT photography?
“How much you think your art is worth,” is a quick response, but let’s delve deeper into this matter.
On the other hand, the average cost on Valuable is a mere $150.
You should also be aware that because there are more users on the blockchain during the week, NFT rates are slightly higher.
In summary, most producers sell their photographic NFTs for 0.15 to 0.25ETH – or $487 to $812 at the current conversion rate of January 2022.
I also want to point out that there are no restrictions on how much you can sell your photos for!
At the end of the day, it’s your work, so you may charge whatever price you want for it.
More Tips On How To Sell NFT Photography
Come Up WIth Good Names and Descriptions For Your Art
Having a solid description and name for your NFTs will be advantageous, even if it isn’t the determining factor for most collectors.
In certain circumstances, a decent description is what seals the deal.
Just as a bad name can cost you a job, so can a poor reputation.
Oftentimes, the title of your work is more significant than the description.
The main reason for this is that while viewing photographs in an online gallery, it is the only thing that appears.
Getting help with the names and descriptions is a fantastic idea for folks who aren’t confident with their English skills.
You can hire an expert on Fiverr or ask your native English-speaking pals for assistance.
Befriend Your Fellow Photographers
Making friends with other photographers is more manageable than cold messaging collectors to promote your work.
Collectors frequently ask folks from whom they have obtained information for more tips on who they might investigate.
This is why it is significantly more vital to build friendships with other artists.
Carve Your Own NFT Space
It is far better for artists to create art that they believe in and to be themselves.
Collectors can quickly spot when someone is not being genuine to themselves.
It’s evident in their work.
Finally, you have no control over who collects your work.
Concentrate on honing your style and interacting with those who appreciate your work.
Carefully Curate Your NFT Photography Collections
A well-curated collection stands out and draws in potential purchasers.
It’s preferable to have a limited collection than one that has all of your work.
A unified theme should also be present in the collection.
So take your time and choose which photographs you’d like to include.
Later on, you can always divide your work into several collections.
You can take your time doing this.
Establish Your Authority
Collectors want to know you’re not just looking for a quick buck.
They want to know you’re in it for the long haul.
The greatest way to demonstrate this is to stay involved in the NFT world.
This is especially critical if you’re selling more expensive NFTs.
Because collectors can spend a lot of money on someone’s art, it’s easy to think of them as something other than human.
They are, however, just like you and me at the end of the day.
Respect them and don’t try to sell them your work all the time.
Collectors, according to jamison_dove, do not deserve special treatment.
There are simply some folks out there who find it fulfilling to support artists’ work.
They do it not only because they enjoy it but also because it is an investment for them.
They are going to be your patrons, so take it easy on the hard sells.
Stave Off Desperation
It’s painful to watch others sell their work while yours “collect dust,” but that doesn’t mean you should beg or guilt collectors into buying yours.
This isn’t something that should be written, but multiple collectors have pointed out that it is an easy way to get blacklisted.
This is not financial advice, but it’s still worth implementing.
Collectors may take their time examining your works and even pondering how your NFTs might fit into their collection.
It’s not because people aren’t buying your art right now that they won’t in the future.
Be patient and cordial when selling photos.
You’re here to form long-term connections with buyers and other artists.
You’ll have to establish your presence in the NFT market.
Related Reading: Polkadot VS Ethereum – Read The Full Comparison Here.
As I type this, I’m not going to pretend that NFTs will transform your life overnight or that you’ll go from having no money from photography to making a living from it.
Only a tiny minority of artists are successful in selling their work for tens of thousands of dollars.
The bulk of them has yet to make their first sale.
Quitting your day job may not be the best move here.
However, focusing some of your attention on the NFT world is worth considering if you want to make a living from your photography.
If you follow the guide above and get lucky, you could be on your way to being a full-time photographer sooner than you think.
Hopefully, this guide taught you everything you need to know about converting your images into NFTs and selling them.
Because there are so many unfamiliar aspects in this new digital asset sector, feel free to experiment with different pricing points, edition sizes, and styles of artwork.
See what happens if you create a few tokens on the blockchain.
I wish you all the best on your NFT adventure!