NFT or non-fungible tokens are a great way to generate income online by tokenizing and selling your rare assets.
If you are wondering how to sell NFT on Rarible, you’re at the right place, SAG IPL as an NFT marketing agency takes you through the step-by-step process of selling NFTs on Rarible, which is one of the most popular NFT marketplaces in the world.
What is an NFT?
An NFT is a type of crypto token that is created in the same way as any other cryptocurrency. An NFT is, however, different from regular cryptocurrencies in that it is usually created to represent a rare kind of digital asset like a piece of art.
NFTs, unlike cryptocurrencies, cannot be exchanged with each other because each NFT is unique and has a distinct value. The value of an NFT is determined by the value, demand & rarity of its underlying asset. For example, a rare football card can have immense value for a collector and its NFT might fetch grand value for its holder/owner.
As a cryptographic asset, NFT is very secure and can be easily verified in case of a dispute about the ownership of a particular asset, since all NFTs are stored on a public blockchain.
Why should you sell or trade NFTs?
In order to understand the benefits of NFTs, you must know how NFTs work.
Many people all over the world like to buy and trade rare items and collectibles such as art, copyrights, images, videos, rare baseball cards, text, and similar things. However, there is no legit way to determine the authenticity of a rare asset.
For example, the original painting of the Mona Lisa is the only one in the world. However, there are many fake copies of it, which are equally good and indistinguishable from the original work.
Tokenization of the original painting can help secure ownership record & data and verify it as and when needed. This will also enable quick & convenient digital trading of the underlying asset.
In order to tokenize a physical asset, it must be first converted into a digital asset, which can be added to the blockchain for secure storage and seamless trading.
Benefits of NFT include:
1. Security – The main purpose of an NFT is to act as proof of ownership of the underlying digital asset. Each NFT can only be owned by a single person (a single account on the blockchain) at a time, so there is practically zero chance of fraud.
2. Transfer of ownership – tokenization of digital assets into NFTs make them easy to trade. Though NFTs cannot be exchanged, they can be traded for items of equivalent value or cash.
This is particularly useful in an industry like gaming, where players can buy NFTs of in-game items like player characters and even use them beyond the game or sell them to other players.
3. Rarity – NFTs only represent rare items, ideally things that are unique. For example, a particular baseball card or coin is unique and will be different from other cards or coins. This ensures that NFTs have great value due to their rarity and high demand.
4. Fair payments – one of the best benefits of NFT is for content creators like artists, painters, music creators, etc., who are not only assured full control of the ownership of their work but can also monetize their work for the right value with fair & on-time payments.
Did you know you can create and sell your NFTs on Rarible for free?
What is Rarible?
Rarible is a popular marketplace or trading platform for non-fungible tokens where anyone can create, sell and purchase (trade) ownership rights to digital assets like art or collectibles via NFTs.
Rarible is a decentralized NFT trading platform based on Ethereum that uses software to connect digital artists and creators with potential buyers to facilitate seamless & secure trading of digital assets through non-fungible tokens. As a decentralized exchange, it enables NFT trading without a middleman.
Rarible works like any other crypto exchange, where you can buy crypto tokens (NFTs) that you believe are available at a discount price, wait for the price to increase, and then sell to make a profit.
In addition, you can create your own NFTs on Rarible if you have any rare or unique digital/physical assets that you want to securely store or trade (monetize) on the blockchain.
Top Features of the Rarible NFT Marketplace:
- Non-custodial: your NFTs always remain in your wallet until they are sold.
- It is decentralized and extremely secure.
- Easy-to-use platform with a user-friendly interface.
- Multi-wallet profiles
- Credit card payments are accepted. Can buy NFT with credit cards.
- No gas fee on minting NFTs (create NFTs for free)
How to Sell Your NFT on Rarible
When searching for how to sell NFT on Rarible, you have the following two options:
- Sell with a fixed price
- Sell with a timed auction
1. Selling NFTs with a fixed price on Rarible
In this option, you can set a price for your digital item, i.e. decide a fixed price for which you want to sell your NFT. Here’s how to sell your NFT for a fixed price on Rarible.
a) Use the Sell button
Visit rarible.com and click on the “Sell” button in the header.
Connect your wallet. The available options are WalletConnect, MetaMask, Coinbase Wallet, Torus, Portis, and MyEtherWallet.
Use the wallet where you have NFTs stored.
After you connect your wallet to Rarible, choose the NFT that you want to sell. Add your selected NFT/s to the drawer.
Set the price for your NFT and the expiry date, i.e. when the deal should expire.
Sign the message to confirm. Your NFT sale goes live after approval.
b) Sell NFT through your Rarible profile
Alternatively, you can sell NFTs through your Rarible profile.
Your profile will be automatically created after you link your wallet to Rarible.
To sell an NFT, go to your profile and click on the NFT that you wish to sell.
Click on ‘Put on sale’ and choose from Fixed Price or Timber Auction.
Enter the price at which you want to sell your NFT and confirm by signing a message.
c) Sell from the NFT page
Each NFT listed on Rarible has a dedicated page.
Go to the page of the NFT that you want to sell.
Click on ‘Put on sale’.
Enter the price and other information and sign the message with your wallet.
2. Selling NFTs with a timed auction
As you may have guessed, this type of NFT sale allows you to sell your NFT through an auction method by allowing bids from potential buyers. The auction runs for a fixed time, during which people can bid their price, and at the end of the auction, the one with the highest bid gets the NFT for their bid price. Here’s how to sell NFTs on Rarible with a timed auction.
a) From your profile
Go to your profile and click on the NFT that you want to sell.
Under ‘Put on sale”, choose Timed auction.
Enter the details for your auction, including the minimum bid (the minimum price at which you want to sell the NFT), starting date, and expiration date (end date/time).
Click on ‘Start auction’.
Your NFT auction goes live instantly. Once the auction is completed, the person with the highest bid gets the NFT.
b) Auction through the NFT page
Alternatively, you can start an auction for the sale of your NFT from the NFT page directly.
Go to the NFT page. Click on “Put on sale” and choose the option for a Timed auction.
Enter the details for your NFT auction sale, and confirm.
Need help selling your NFTs on Rarible? Contact SAG IPL
Non-fungible tokens are still a new concept for many. Building your own NFT or selling it for a decent profit can be difficult if you haven’t done this before. This is where a professional NFT marketing company like SAG IPL can help you.
SAG IPL is a leading NFT marketplace development & marketing company with over a decade of industry experience. You can hire us for NFT development, NFT listing, NFT trading, and/or NFT marketing strategies. We work with many NFT creators and traders, providing our professional help with things like developing a high-quality non-fungible token, listing your NFT on the right platform, optimizing your NFT listing for the maximum reach & exposure, and ensuring the best return on your NFT investment.
Whether you’re an NFT creator, artist, or trader looking to make huge profits by creating, buying, and selling non-fungible tokens, hire the best NFT marketing agency SAG IPL to guide you to success.