How to Sell NFT Tokens – Where to Sell NFT Tokens in 2022
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
Over the past couple of years, NFTs have grown to become an asset class in and of themselves. Despite some calling the sector a fad, many investors have been earning huge amounts of cash by buying, holding, and selling NFT tokens from specific collections.
As such, you might be wondering how you can get a piece of the pie. Well, Economy Watch has you covered! We’ll be providing a detailed explanation of exactly how to sell NFT tokens, along with some reviews of the best NFT marketplaces.
Table of Contents
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How to Sell NFT Tokens – A Quick-Step Guide for 2022
Despite being a relatively simple process, the jargon involved can make learning how to sell NFTs more complicated than needs be. So, to make things as easy as possible for our readers, we’ve included this quick guide detailing precisely how to sell your NFTs in just a few minutes.
- Step 1: Open an Account with eToro & Verify Account: Before you can learn how to sell an NFT, you’ll first need to create and verify an account with eToro. This process is quick and easy. All you’ve got to do is head over to eToro.com, click on “Join Now” and fill in the form. Afterwards, you’ll need to verify your account. For this, you’ll need a photo ID and proof of address.
- Step 2: Create MetaMask Wallet & Connect to OpenSea: Once your eToro account has been verified, download MetaMask. Once you’ve completed the setup process, you’ll need to connect it to OpenSea. There’s a wallet icon in the top right of OpenSea, click on that, then the MetaMask logo, confirm the transaction & you’re good to go.
- Step 3: Sell NFT on OpenSea: Once you’re connected to OpenSea, you can sell your NFT. Simply select the NFT you want to sell, select the sale type, and enter your desired price. Afterwards, interested buyers can purchase your NFT or send you an offer.
- Step 4: Send Ethereum from MetaMask to eToro & Sell your Ethereum: Once your NFT has sold, you’ll need to send your Etherum from MetaMask to eToro, through the eToro Money Wallet. Once your ETH has landed on eToro, you can select your position and close it. After this, cash will appear on your eToro account.
- Step 5: Withdraw Cash: Once you’ve got the cash on eToro, you can withdraw it. eToro supports withdrawals to bank accounts or if you’ve already completed a purchase, PayPal. However, if you’re interested in another project, you can use eToro to swap your ETH for a different crypto and use it to invest in new NFTs.
What is an NFT?
An NFT or non-fungible token is a non-interchangeable asset that is verifiable on the blockchain. This comes with several benefits including proof of ownership, guaranteed transfers, and easy storage.
NFTs come in many forms, ranging from pixel art to parcels of digital land. Because there is such diversity in the NFT space, regardless of your preferences, you can rest assured that there will be something for you out there.
NFT technology is evolving rapidly, meaning that it could be the perfect time to get more involved in the space before the masses flood in driving up fees and prices. If you’re interested in learning more about NFTs, we’ve got an entire article explaining NFTs.
Where to Sell NFT Tokens – Mini Marketplace Reviews
While the process of selling an NFT is relatively simple, things can quickly get much more confusing once you begin to think about different networks and marketplaces.
So, to make things as simple as possible for our readers, we’ve included mini-reviews on the best platforms to sell NFT tokens on a range of networks.
1. OpenSea – Overall Best Platform for Selling NFT Tokens
The largest NFT platform in the world, OpenSea was launched in 2017 and has become home to more than 80 million NFTs. You’ll be able to find most of your favorite NFTs on OpenSea, including pioneering collections like CryptoPunks. OpenSea supports NFT collections built on both Ethereum and Polygon.
The OpenSea interface is intuitive and easy to use. Searching for a specific collection is made simple by the range of filters available, allowing you to focus on the important things. If you’re looking at creating your own NFT collection to sell, OpenSea has functionality that will allow this. If you have all your artwork ready and a MetaMask wallet loaded with either ETH or MATIC, you can mint your own collection in just a few minutes.
All in all, OpenSea is an excellent platform for buying and selling NFT tokens and NFT art. It makes selling NFT tokens an easy process and due to it supporting multiple networks, there’s something for everyone.
OpenSea has a good level of security and does millions of dollars in transactions – some NFTs on the platform even go for six figures plus on their own. If you want to sell either an Ethereum or Polygon-based NFT, there’s no better marketplace than OpenSea.
Pros
Cons
67% of retail investor accounts lose money when trading CFDs with this provider.
2. Super Rare – Best Platform for Selling Exclusive NFT Tokens
Launched in 2018, Super Rare has been in the NFT space for comparatively quite a while. Throughout this time, they’ve nurtured a reputation of being a premium NFT platform. If you want to purchase an NFT from Super Rare, you’ll need to stock up on Ethereum as that’s the only network they support. While the Ethereum network does have the issue of fees, it tends to attract more whales (and higher prices) than other networks.
Super Rare is slightly different from the other platforms we’ve discussed. Rather than focusing on quantity, they focus on quality. This is because Super Rare is marketed as being an “exclusive” NFT platform. While that might be somewhat of a reach, you’ll need a following of some sort if you want to create your own collection on this marketplace. While this certainly limits who can mint, it does also create much more hype for any projects that make it through moderation.
Super Rare promotes their NFT artists far more than some other platforms, creating various newsletters on topics like “this week’s NFT steals”, helping to get the word out about some of the platform’s top collections.
If you’re trying to find a more premium NFT platform, then you’ll love Super Rare. It’s far more art-focused than other marketplaces, helping to bring the NFT space and the world of digital art closer. Because Super Rare focuses on bringing legitimate artists with following to the platform, some of the pieces can get quite expensive and have a great resale value. This can be a big bonus for anyone wanting to sell NFT tokens as these exclusive collections can have a higher profit margin and greater longevity than projects built from social media hype.
Pros
Cons
67% of retail investor accounts lose money when trading CFDs with this provider.
3. Binance NFT Marketplace – Best Platform for Selling BSC NFTs
Considering the Binance NFT Marketplace is perhaps the hottest thing in the Binance ecosystem right now, it should come as no surprise that it’s the largest BSC (Binance Smart Chain) NFT marketplace currently available. It’s a proprietary Binance platform, which allows users to connect to the marketplace using their Binance account. Unfortunately, however, you are limited to BSC NFTs and although this sub-sector is growing, it still pales in commission to better-established networks like Ethereum.
If you’re wanting to mint and sell your own NFT collection, then you might be interested to hear that you can do so on Binance Marketplace and with far lower fees than any Ethereum-based platform. This can result in larger profit margins and less friction when trying to get people to purchase your collection.
However, there’s no need to mint an entire collection to make some money, every few days there’s a new drop on Binance NFT, which could present a great investment opportunity if you make sure to do your research.
Overall, the Binance NFT Marketplace is an excellent platform to buy and sell BSC-based NFTs. There’s a wide variety of NFTs available, including songs, collectables, and in-game items. The platform is easy to use and the ability to use your Binance account to log in is a big bonus as it’s one less account for you to remember. Additionally, it provides an easy way to fund your account.
Pros
Cons
67% of retail investor accounts lose money when trading CFDs with this provider.
4. Axie Infinity Marketplace – Best Platforms for Selling Axie Infinity NFT Tokens
Originally created back in 2018. Axie Infinity has stood the test of time and grown to become the largest blockchain game in the world, an impressive feat considering how fierce competition has gotten in recent years. The game centers around collecting, training, and trading virtual ‘pets’ called Axis. You can think of Axie Infinity as an amalgamation of Pokemon and blockchain technology.
Unlike the other platforms we’ve taken a look at, the Axie Infinity Marketplace can only be used to sell creatures and land (in the form of NFTs) from the game. While this is likely to be off-putting to some, the sheer size of the games user base, particularly with NFT enthusiasts, is what secured it a place on this list.
Both Axie Infinity and its marketplace is based on the Ethereum network, so if you’re interested in getting involved (which can be very lucrative) it’s important that you use eToro to stock up on Ethereum ahead of time.
If you’re already involved in the world of Axie Infinity and would like to cash out your in-game items for real money, you’re in luck! You can sell your Axis or land on the marketplace and receive ETH in return. You can then send this Etheruem from your MetaMask to eToro, where you can trade it for cash.
The Axie Infinity Marketplace is for a specific type of user, however, for these people, it’s near perfect. Finding undervalued Axis can be done fairly easily using the wide range of filters, greatly improving your chance of profiting. Additionally, using eToro for an easy off-ramp can make it easy to earn real-world money from playing a game – something I’m sure many of you already do for free. If you’re interested in Axie Infinity there’s no better marketplace for you.
Pros
Cons
67% of retail investor accounts lose money when trading CFDs with this provider.
5. EnjinX – Best Platform for Selling Enjin NFT Tokens
EnjinX is the go-to marketplace for all things Enjin. While this may not sound as alluring as OpenSea, the Enjin ecosystem is growing incredibly quickly and with many game houses beginning to implement blockchain technology, it’s likely both Enjin & EnjinX will continue growing rapidly. Therefore, it could be an excellent time to get involved in the space, especially considering how much lower the fees are compared to most other platforms.
Despite Enjin itself being aimed primarily toward the gaming sector, EnjinX has NFTs in a large variety of categories including, art, in-game items, and promotional items. In contrast to most other networks, there are already quite a few big-name partnerships with companies like CoinMarketCap and Microsoft releasing collections on the network.
Along with its functionality as an NFT marketplace, EnjinX can also be used as a blockchain explorer allowing users to view transactions. This can be a big help for anyone wanting to safely sell their assets, as it allows you to verify a transaction has occurred and also see if an address is associated with nefarious activity.
If you’re a fan of the Enjin ecosystem then there’s no better marketplace than EnjinX. Its user experience is excellent, the platform is easy to navigate, and it makes learning how to sell NFT tokens a breeze. With the number of large companies involved it’s clear that there’s still a massive amount of growth left for both ENJ and its marketplace.
As blockchain gaming becomes more prevalent, both Enjin and EnjinX are set to become the center of this gaming revolution. There’s no better time to get involved and start buying and selling NFT tokens on EnjinX.
Pros
Cons
67% of retail investor accounts lose money when trading CFDs with this provider.
Benefits of NFTs
Although you may hear people referring to NFTs as useless or calling them jpegs, this couldn’t be further from the truth. While it’s true that NFTs of the past had less utility than the current generation, this can be attributed to the technology not having a chance to improve. Recently, NFTs have been used in a wide range of sectors including, gaming, collectables, and art.
Investments
Despite what you might have heard, NFTs make excellent investments. If you’re lucky enough to get in early on a project that gains a lot of traction you can make a pile of cash. Take the Board Ape Yacht Club as an example, a year ago, the average BAYC was worth around $20,000 today however, this has increased to $250,000. This NFT collection massively outperformed Ethereum (the network it’s based on), highlighting the validity of NFTs as an investment vehicle.
Passive Income
On top of an NFT’s use as an investment, they can also be used to generate passive income. Some collections will award holders with rewards like a portion of marketplace fees. This can be quite lucrative if a collection has a good amount of trading volume. Additionally, these rewards can be funneled into other investments, further growing your portfolio.
How to Sell NFT Tokens – Full Guide for 2022
The NFT space has been exploding in recent years. It’s fairly common to hear about an investor buying a piece of digital art they liked the look of only to profit thousands later down the line almost by accident.
But if you want to get in on the action, you’ll need to learn how to sell NFT tokens. Luckily for you, we’ve created this in-depth guide detailing how you can do exactly that!
Step 1: Open an Account with eToro & Verify Account
Before you can sell your NFT, you’ll first have to create and verify an account with eToro. This is because eToro will be your off-ramp, allowing you to exchange your crypto for cash quickly and easily. Simply go to eToro.com, click “Join Now” and fill in your details. To verify your account, you’ll need a photo ID (passport, driving license) as well as proof of address (bank statement, utility bill).
Step 2: Create MetaMask Wallet
After you’ve created an account with eToro, you’ll need to create a MetaMask wallet. If you’ve already got a MetaMask wallet, you can skip this step. Just head over to MetaMask.io, download either the browser extension or mobile app, and follow the instructions to create your wallet.
Step 3: Connect Wallet to OpenSea
Once you’ve got your MetaMask setup, it’s time to connect it to OpenSea. To do this just click on the wallet icon in the top right-hand corner of the screen, select MetaMask, and confirm the transaction. Your wallet should now be connected!
Step 4: Sell NFT on OpenSea
Following linking your wallet to OpenSea, you can list your NFT for sale! OpenSea supports two types of sales; auctions and “buy it now” sales. Pick whichever one sounds good to you, set a price, and confirm the transaction.
Once somebody purchases the NFT, you’ll need to confirm the sale and send them the NFT. After this, your Ethereum should be automatically released and credited to your MetaMask wallet.
Step 5: Send Ethereum from MetaMask to eToro
After the sale has been confirmed and you’ve received your funds, you’re ready to send it over to eToro. You’ll need to send the Ethereum over to the eToro money wallet, from there you can then transfer the Ethereum to the eToro exchange. There can be a slight delay when sending so don’t worry if it takes a few minutes.
If you’re looking at trading up to a more expensive NFT collection, now is the perfect time to buy the additional Ethereum you might require. If you type “Ethereum” into the eToro search bar, press “Trade”, enter the amount you wish to buy, and press “Open Trade”, the Etherum will be credited to your account.
Step 6: Sell your Ethereum
As soon as your ETH has arrived in the eToro exchange, you’re ready to cash out! Simply click on “Portfolio”, select the red ‘X’ next to your Ethereum position, enter how much you want to sell, and press “Close Trade”. Following this, your eToro account should be credited with fiat, which you can then withdraw or use to invest in another NFT crypto or perhaps NFT stocks.
67% of retail investor accounts lose money when trading CFDs with this provider.
Step 7: Withdraw Cash
To withdraw your cash from eToro just hit the button marked “Withdraw”, enter the amount you wish to withdraw, press “continue”, ensure all your details are correct, and press “Withdraw”. The funds should arrive in your bank account shortly.
How to Sell NFT Tokens – Conclusion
We can no longer claim that NFTs are simply a fad or will become irrelevant over the coming months. As technology improves, space will only grow. As such, there’s no reason to wait when it comes to learning how to sell NFT tokens. The chances are that this will become an increasingly valuable skill set in the near future.
Whether you’re trying to cash out your profits on an NFT flip or are looking to stock up on crypto ahead of a new drop, eToro is by far the best exchange out there, thanks to its commission-free trading and excellent security.
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