This article explains why NFT art is said to be unprofitable, tips on reselling it, and how to make money from it. There are currently countless works on the market, but most are unsold. In fact, the reality is that more than 90% of works are unsold at all. So why are there so few people buying art?
The reason why NFT art is not profitable
The reasons why some people are not making money from NFT art are as follows. There are tips for making money, but it’s not easy at first, so start as a side job. In conclusion, you need to understand the market trends, demand, and NFT management mechanisms before you can make a profit. It may take some time to start making money now. We have compiled examples and information, so if you want to make money from NFTs as they develop in 2022, 2023, and 2024, please refer to the list.
Entry of major companies
The NFT market is a field where individuals have been active so far. Even in such a state, there are few works that sell, but from now on, it will be even less profitable. The reason is that major companies are entering the NFT market more and more. Due to the entry of major companies, creators who are working individually will face a difficult development. Companies are better at manpower and marketing, so the winter era for individual creators may come.
It’s starting to die down
It seems to be dying down. The steps are to prepare an NFT, put money into your wallet, and buy it by simply clicking on the NFT art or game. Anyone can do it quickly, but fewer people are making profits from holding it. This is because there are more and more voices saying that the number of users is decreasing. Needless to say, compared to other things, there is no legal framework. People are avoiding it, so it is difficult to make visible profits until this is completed. Even if you want to sell it as a priority after it has risen in price, the price often does not change in the first place. Even if you want to continue, it will be tough if you do not have the funds.
not recognized
The reason why NFT art is not selling well is that NFT itself is still relatively unknown. In the first place, many people don’t know about it, so even if you list it on the market and sell it, there are very few buyers. There is no way NFTs will sell if there are no people in the market. There are cases where the planning is bad, but since there are few competitors, it is possible to make money by disseminating information to collectors and buyers. At first, you may want to focus on gathering information and sell it at a low price.
not advertising
One reason why NFT art is not selling is that it is not advertised on multiple platforms such as social media. This is natural if you are not a celebrity. If no one knows the work itself in the first place, no one will buy it. Individual creators who are not selling are probably not advertising in the first place. Also, when considering posting, the current situation needs to be sufficient, and the work needs to be one that can generate revenue for a year. Is there a demand for your own token? Growth may be slower than expected and the amount may decrease. When using one technology, you should also consider how to disseminate it next.
Poor quality of work
Nowadays, if the quality of your NFT art is low, naturally no one will buy it. If you are an influencer or someone who already has a lot of followers, you may be able to sell even low-quality works. However, if you are unknown, no one will even take you seriously if the quality of your work is low. In the beginning, even if it costs a lot to create it, sell a lot of it until it becomes popular. In the beginning, it is a good idea to sell it at a low sale price as a measure to avoid failure. Items that are used as smartphone icons, etc. are still valuable. Data that you are interested in is also used in apps, etc. You also need to constantly think about how to make money and become famous. Try making a long-term roadmap, etc.
not original work
One of the reasons why NFT art doesn’t sell is that it lacks originality. There is nothing rare about works that are simply imitations of popular works of art. It’s a creator’s world after all, and if it’s not unique, it’s not rare, so no one will buy it. A new piece of work that you feel is good may end up looking very similar to someone else’s work. Of course general supply, let’s review it a little before releasing it.
Characteristics of people who make money with NFT art
On the other hand, there are people who are producing about 10% of NFT art that sells well. What are the characteristics of these people? In Japan, the number of promotional tweets on X (twitter) to launch investment projects and sell collections is increasing. Even for beginners, it is difficult to start buying and selling online just by doing it honestly in the domestic market. Although the number of transactions on Opensea is increasing, scams are also increasing, and caution is increasing, making it difficult to sell even good images.
Added value
Added value is important. By adding value such as being able to join a community or receiving coupons by purchasing an NFT, the number of buyers will increase. It is also true that there are works that will sell just by doing this. If you want to sell your latest images, pics, at a high price and efficiently, it will be tough if you don’t add some value. Users will also have to pay Ethereum (ETH) for gas fees. The point is that it is charged anywhere, even on Coincheck. In other words, it needs to be an important work that you are willing to pay the fee to get.
are advertising
People who are making money from NFT art promote their work using blogs and social media. If no one knows about your work in the first place, no one will buy it. Social media is a tool to let people know about you, so make use of it. Advertising is free. In order to be successful, it is essential to advertise in a way that does not give buyers any disadvantages. We are in an era where you can buy your work under good conditions, so you need to advertise actively when releasing it. It depends on the timing, but if you take advantage of the opportunity, you may be able to sell a lot.
celebrities, influencers
Works by celebrities and influencers tend to sell even if they are low quality. They have a large number of followers, so even doing something small attracts attention, so in many cases, whatever they do goes well. Therefore, if it is your first business venture, you will need to get bloggers to write for you or be creative. As your reputation improves, you will get more access and will gradually start selling on your own. It is probably quicker to get your work featured in the news and spread the word. When you have just published or are just starting out, it is impossible to sell at a high price, so sell it cheaply.
Resell NFTs
There is a method called reselling, where you don’t create NFTs yourself, but buy them and sell them on the black market. If you can buy promising works at low prices, you can make a lot of money. This doesn’t make you a creator, but it’s true that some people can make money from them. Fortunately, images are not a genre that will cause losses in the digital market. Generally, the more well-received the work, the higher the demand. Therefore, when assessing works, we recommend those with a long track record of developing and selling items, as they have a high chance of succeeding in reselling. If they attract attention at events in the industry, they will become more popular and their profits will increase.
NFT Marketplace
Gate.io allows you to enter the NFT marketplace and actually do business. To do this, you will need to open an account. If you want to sell your own work, open an account. This is also introduced in the following article. You can choose from options such as Metamask, and you can transfer funds securely. There are no initial costs, and if you know how to create them, you can sell NFTs quickly and make a profit. In some cases, they can be sold by reselling.
コメント