The digital world has been expanding with limitless possibilities. This includes expanding the way we sell art and literature online. NFTs, non-fungible tokens, are becoming a more popular route when selling digital art. This includes the art of poetry.
The digital world can be confusing, especially now that NFTs and cryptocurrencies have become a significant part of it. Here is everything you need to know to sell your poetry as an NFT and what you need to do.
How To Sell A Poem As A NFT
Selling your poem as an NFT doesn’t take too long. If you already have been a part of the crypto-verse, you may not have to do the beginning steps and skip them. But if you are new to the digital world of cryptocurrencies, NFTs, and more, you will want to start from the beginning.
Obtain A Virtual Wallet
Before you even begin selling your work, you will need to find a way to partake in cryptocurrencies. There are many virtual wallets that you can create an account with. It is best to get one that can be used on different systems and is easy to use.
There are many out there, but since cryptocurrency is still a fresh concept, some may not be as pleasant to deal with as others. Here are the top cryptocurrency wallets you can get an account with (according to 101Blockchains):
- Coinbase Wallet
- Trust Wallet
Personally, I use the Metamask and Coinbase Wallet when minting and buying NFTS.
You will have to attach these wallets to an existing bank account with money in it, or you can choose between attaching your credit card directly or an account like Paypal. My Coinbase wallet is attached to my bank account, and I can send and exchange crypto to my MetaMask wallet.
There are fees that come with NFTs, like minting and seller fees, so there needs to be a way to pay for these.
Find A NFT Platform You Like
Think of an NFT platform like the websites on which you can sell products. They are similar to Amazon, eBay, and other third-party companies but in the digital world for NFTs. You can post your content/NFTs on these websites, and buyers can find your work.
More and more crypto traders, investors, and art lovers are popping up on the internet, but you want one that has an extensive database of products with many buyers. Here are some of the most popular NFT platforms to choose from:
These three marketplaces provide the best and easiest ways for you to sell your NFTs. Other platforms may be more challenging to work with and require a tedious application process or even extra fees.
For example, I created/minted/listed NFTs on both Rarible and Foundation. Rarible was easy, and all I had to do was create an account and mint my artwork. Foundation was a different story as I had to be invited by another NFT artist.
Make An Account With A Crypto Trader
Once you have found the crypto trader you like, it is time to make an account with that marketplace. You can register at more than one place, but it is best to start with just one.
You will need to have your virtual wallet ready as well. You will connect your wallet with your account. This will allow you to use crypto, most likely ETH, the currency name for Ethereum, to mint and list your NFT poem. Plus, you will need the wallet to hold your profit from the potential sale.
Remember, this will be in cryptocurrency that can be converted into fiat money (dollars, euros) later on if you wish.
Create The Poetry As A NFT
An NFT can be many artistic pieces, including poetry. There are many ways you can sell your poetry as an NFT. Some people add the poem to an image or piece of art that the artist created. Some poets just put it on a blank backdrop and use beautiful writing. Others invest in seed poems.
Seed poems are a little different than the other two options. You take an image and then add a poem to the image or art piece. The buyer cannot see the poem until they purchase the product. Once it is bought, the poem is “unlocked” for the buyer to see it.
Play around with different styles and images. You will find something that fits your poem. Take flight with your creativity. It is your work, no one else’s.
Mint your Poem NFT
Now that you have your poem digitized, it can be minted. However, we do need to talk about file size. Every platform has its own file size requirements; for example, at Mintable, the maximum upload file size is 300 MegaBytes. The file type that is usually recommended for poems is PNG or JPG.
If I were to create a poem with an artistic background, I would create it in Photoshop, which is my design program of choice.
As soon as you upload your file to the NFT platform, you will be ready to mint the digital file. In simple terms, this converts the poem into an NFT, which is then secured to the blockchain and will abide by the smart contract. Minting NFTs is not cheap and will cost crypto.
Also, I forgot to mention you can add royalty to the smart contract, which means every time the poem is sold to a different buy, you will receive a percentage of the sale price. I’ve seen royalties set between 8-20%. Get caught up to speed with royalties by checking out this article: Do NFT Creators Get Royalties? 8 Things to Know.
To learn more about the specifics of minting NFTs and how to save money, go here: The 3 Cheapest Ways to Mint an NFT: Full Breakdown.
Sell Your Work
Once you have created your work, you can begin selling your work through these marketplaces. Ensure that you click on the “Sell” button on your account and not just create. You can create/mint the NFT without ever posting it to the marketplace to be sold.
When thinking about how much you should sell your NFT, you may do a little research on products similar to yours. Many things can affect the sale of your product as this trade market is constantly fluctuating and can be a little unpredictable.
People will purchase the NFT for various reasons, but these often affect the price you should choose:
- The demand of the artwork and poetry.
- Famous attachments
Getting your work out into the world is so crucial, but the cool thing is that with NFTs, there are social media platforms and Discords that you can start participating in and get people intrigued. We wrote a must-read article specific to NFTs and how to market yourself.
Also, it isn’t easy to price your work but don’t ever sell yourself short. Start with selling one NFT and see how quickly it sells. Then you can discover if you need to adjust the pricing of your poetry. You may realize that people like your work and will be able to sell your work for an increased rate.
Remember that there will be gas fees involved. These vary based on user demand, and you may find yourself with some high fees. Some high-frequency times will cost hundreds of dollars. So be sure to do your research and what best fits your budget.
Try not to get ripped off either by reading this: NFT Gas Fees & How Not to Get Ripped Off.
Poetry is another form of art. It is only reasonable that it can be sold as an NFT. You can choose to be straightforward with just your poem or add some art to it.
It is always fun to find creative ways to represent your artwork without taking away from the poem itself. You never know. Perhaps selling your poetry as an NFT will open up a whole new world for you. The world of NFTs is wide open, and they will have an even more significant impact in the future. Curious how? Then read this: 10 Reasons Why NFTs Will Change the World