People want to support creators they love.
Now that you've finally generated your NFT, the stressful part is deciding whether you should charge for it or not.
The answer? Yes. You should set a price for your art.
For a new artist, pricing art can seem daunting, but you don’t have to give away your work. You can start by selling your digital collectibles for as little as 0.0001 ETH and build your way up.
Attract the right group of collectors
First, to attract a specific quality audience, you want to ensure that they understand the value of your work.
When it comes to collectors buying your art, it's important to remember that your work is not just the initial dollar sign. True collectors will see their purchases as a direct reflection of their character, which makes the art an invaluable long-term investment.
You'll also build exclusivity by putting a price tag on your pieces and finding these genuine collectors. Plus, as we continue to see with IRL art and digital art, exclusivity is almost always a good thing for driving up your art's market value.
This logic is just the tip of the iceberg for why you should start charging for your art and avoid being another free token in the market.
Selling your art as an NFT is a legitimate choice
Setting a value for your art is good for your mental health and ability to make art. In other words, you'll be more motivated to make more art! Plus, you feel more accountable when you're making something for an audience that expects to pay for it. Even if, as an artist, you still want to create art just for creating, having a financial incentive will motivate you to do better work. You want people to enjoy what you've made so much that they're willing to pay for it. So you do the best thing you can.
This process benefits everyone involved:
- You'll be getting paid for your hard work and talent.
- Your buyers will have the satisfaction of supporting you and your art.
- We'll all get to see more creative projects!
The NFT space opens new doors for artists
A new market brings new challenges but is full of new opportunities. As an NFT creator, you can forget about intermediaries (For example, galleries or institutions) between you and your clients. You sell directly. YOU get and own the credit for your artwork. But there's something even better: Blockchain technology allows you, the artist, to get paid for secondary sales with what is known as royalties.
Even if you have not sold your art before; you can create your collection, calculate your minting revenue in advance (even if you're selling for 0.001 ETH), and put it out there in a marketplace for NFT creators.
BONUS: Learn how to turn your art into non-fungible tokens with our no-code tools.
It's possible to find a balance
It's normal for artists to feel a bit conflicted about receiving money for their work. After all, art is personal, and artists almost always have at least some measure of pride in what they produce. It can be hard to put a price on something that feels so intrinsically valuable. But it's important to remember there are two sides to the art-money relationship.
This way, you're helping the whole crypto ecosystem grow by providing an example of how NFTs can be used. Plus, you contribute to helping creators, collectors, investors, and more people interact with each other economically.
Charging a small fee in exchange for access to your work is still a viable way to get paid for your efforts without sacrificing the feeling of appreciation you get from being able to share your work with the world without asking for anything in return.