He runs the popular YouTube channel ‘Bentoboi’ that releases informative videos around the NFT sphere.
NFTs are the latest cryptocurrency sensation that has taken over the world big time. Any entrepreneur or small business entity that has the ability to create any form of digital content needs to know about NFTs, as these are the most emerging things the digital world has ever seen.
The most recent news that made headlines about this 24-year-old artist who made over $300,000 selling her art as NFTs has swept the world off their feet. With news like these, it’s comes as no surprise that NFTs have quickly risen to fame and are going to impact the future of the financial world in a big way. However, to make money through NFTs, one has to first understand how they work and what all goes into its workings.
Brandon Chin, an NFT expert who runs his NFT specific channel on YouTube named Bentoboi explains about the nitty-gritty’s of this space which can help one gain a strong hold over it, and help them take giant strides in winning profits.
How does one sell NFT profitably? NFTs are generally sold on distinct marketplaces and one has to upload their content to the specific marketplace of their choice and turn it into an NFT to sell. The process is similar to selling goods on Amazon or any other online platform. Selecting the right marketplace is also important, as there are dozens of marketplaces for you to choose from. These include OpenSea, Axie Marketplace, Rarible, SuperRare, and Mintable. You need to choose the one that suits you best. The next step is to mint the NFT, which means turning the digital file into a crypto collectible or a digital asset on the Ethereum blockchain. Though this looks confusing, each marketplace provides a step-by-step guide on minting, which makes it easy for newbies to work through the process. Each platform have different processes and allows you to either sell the item as a one-off purchase or earn royalties from its sales.
The last step is listing your NFT for sale. After listing it for sale, you’ll notice the marketplace will calculate “gas fees.” This is an Ethereum blockchain network fee to record the transactions and vary amongst different ecosystems. “The best way to make money with NFT differs on an individual case basis as a small business owner or investor can choose to buy an asset that will multiply in cost with time or if you’re a content creator, you can use NFT as an alternative way to monetize your talent and earn extra bucks,” says Brandon who explains all about this subject on his YouTube channel Bentoboi.
