Amazon has been a fan favorite for sellers. The marketplace’s global reach and trustworthy brand have made it a go-to choice for millions of shoppers across the world.
Amazon is one of the top marketplaces today, but it does not allow sellers to sell non-fungible tokens (NFTs). Many sellers agree that selling NFTs on Amazon would have many advantages, including the ability to tap into an enormous consumer base.
Amazon has built a reputation for itself as one of the top online marketplaces because of its broad reach and well-known brand name. However, a few things currently don’t allow you to sell NFTs on Amazon that you need to hear about.
Why Can’t I Sell an NFT on Amazon?
Amazon is a giant online marketplace. It allows anyone from individuals to big companies to sell almost anything, as long as you meet their requirements and pay the fees associated with selling on Amazon.
While there is no official policy on how to classify NFTs, they are often classified as a type of digital asset. The problem is that Amazon does not currently allow the sale or resale of digital assets because it could lead to fraud and market issues.
Since the blockchain technology behind NFTs has been known for creating problems for companies like Facebook and Google, many feared that selling them on Amazon would be dangerous for consumers who might end up losing their money when buying a faulty product from an untrustworthy source.
What This Means for You as an NFT Seller
In the future, however, there may be a way for NFTs to be sold on Amazon in a legitimate fashion. Until then, you’ll need to take advantage of other platforms to sell NFTs like Open Sea.
To sell your NFT, you will need to find a third-party marketplace for it. These marketplaces allow you to upload your NFT and set a price. Since the buying process is not handled by Amazon, you will need to find buyers from crypto forums online, either promoted on social media (Twitter and Facebook) or through word-of-mouth referrals.
If you are really serious about selling your NFTs, you have to read this How To Get Your NFT Art Noticed: Complete Guide.
Still, you should expect that the digital marketplace will include NFTs in the future as blockchain technology becomes more mainstream. It’ll be interesting to see how these tokens are included on sites like Amazon because there are still concerns about fraud and the safety of transactions between users.
It’s difficult to say when or if NFTs will become a legitimate means for selling items on platforms like Amazon, but it could happen in the next few years as companies continue their research into blockchain technology.
Where Can I Sell NFTs?
Sellers should note that Amazon isn’t currently accepting any form of digital or virtual currency as a payment method. This means you’ll have to wait until Amazon starts to offer digital currency as a payment option, and if that happens then, perhaps NFTs will be allowed to be bought and sold.
Currently, the best place to sell NFTs is on your website or an NFT marketplace. You’ll also need to participate in other forums where people are discussing blockchain technology and cryptocurrencies, including Reddit, social media groups, and meetups.
Selling NFTs involves more work than selling other goods, so your best bet might be to use a couple of different methods. There are several good options for selling NFTs online. The first step is deciding which marketplace to use. Some of the best ways to sell NFTs include:
- EtherDelta – A decentralized cryptocurrency exchange
- Reddit – It’s a good idea to include links to your website in the comments of relevant posts
- NFT-focused groups on social media (e.g., Discord and Telegram)
If you want to go deeper, you can check out our list of top platforms to show off your NFTs and get potential buyers interested.
Selling your own NFTs can be a little more complex than selling other items on your website. You’ll need to include information about Ethereum and digital wallets with the item.
How Do I Sell My NFT?
Selling your NFT is no different from selling any other item using an online marketplace. For example, the website OpenSea works with ERC-721 tokens and allows users to buy or sell unique digital assets.
Selling an NFT requires setting up a digital wallet to receive Ether and a digital wallet to receive tokens. You can use a third-party service like Coinbase or the MetaMask browser extension to set up your digital wallets on the Ethereum blockchain.
When you list anything for sale on a site like OpenSea, make sure its value is clear by including details about why it’s valuable. Assuming you have created and minted an original NFT (don’t copy other people’s work as you face copyright issues), you will be able to add a royalty into the smart contract meaning you will get a royalty commission for every future resale of your NFT. Pretty cool, right?
However, if you are reselling an NFT you already bought, you will not be able to add a royalty for yourself. The royalty is baked into the contract and for the original creator.
If you’re looking for an NFT to buy, then look at the seller’s reputation score on the platform first—otherwise, you risk buying something that isn’t as advertised. Scams are abundant in the NFT and crypto world.
Also, be sure you understand the different types of ways to sell NFTs. There are auctions and fixed price listings. Each type has its own set of advantages and disadvantages, which is discussed here.
Tips for Creating Your Own NFTs
Before creating an NFT of your own, consider what makes your asset special or unique. What makes it stand out from others on the market? Since NFTs can be purchased and put up for sale on a wide variety of platforms, the better your asset stands out, the more likely it is to sell quickly.
If you want to keep your token unique, there are a few things you can do for it that will make it stand out more than others on the market.
If you can code and are an advanced crypto connoisseur, you may be able to code and mint your own NFT. If that’s you, ensure that its code is easily readable by humans and computers alike. While this may not seem like much at first, when someone actually purchases your token, they’ll be able to see your work up close. This might be the deciding factor in whether or not they purchase it!
If you’re a total beginner, just head over to a platform like OpenSea or Rarible. On these platforms, you can easily mint your NFT with a few clicks of your mouse. Make sure you have the description of what you are selling proofread, as you will not be able to change it after the NFT has been minted.
Next, make sure to use high-quality images to create an attractive front end for potential collectors; since these tokens are digital items, in most cases, pixelated or low-quality images aren’t acceptable…unless you are making a Crypto Punks style NFT.
When you are finished minting, you have the option of listing your NFT for sale. Now the tricky part is coming up with a sales price, but this little guide should help with that:
Though you won’t be able to sell your NFT on Amazon, there are plenty of marketplaces for buying and selling NFTs. There are several different ways to sell NFTs online and numerous different websites where you can create them, like OpenSea and Rarible.
The best way to ensure that people are really interested in your NFT is by offering it on an open market where they can see what others are selling similar items for.
Still not sure about the future of NFTs? Well, they are not going anywhere, and this article shows why: 10 Reasons Why NFTs Will Change the World.