How to create and sell your own NFT as a freelancer in the UAE

How to create and sell your own NFT as a freelancer in the UAE

As a freelancer, you may feel daunted by the concept of creating and selling your own NFT. Surely that is only accessible to large organisations and not SMEs? We’re here to set the record straight and tell you that anyone can create their own NFT – you just need to know a few of the basics. Here is your step-by-step guide to creating and selling your own NFT as a freelancer in the UAE.

Did you know? The process of creating an NFT is called “minting”!

Getting started

To get into creating and selling NFT, you first need to pick a marketplace where you can mint your NFT. There is an abundance of online platforms you can pick from, with some of the most popular including OpenSea, Rarible, SuperRare, and NFT ShowRoom.

Secondly, all NFT platforms require payment to be made in digital currency, so you need to set up an e-wallet where you can pay fees and receive payments for your NFT.

There are many options for wallets you can choose from, some of our favourites include MetaMask, Ethereum, and Polygon. Some things to consider when choosing a wallet include whether they offer a mobile app version or are mobile-friendly, and also what NFT marketplace can they connect to? There’s no point in choosing a wallet that isn’t compatible with your chosen NFT platform.

Once you’ve selected which wallet to go with, setting it up is super easy and user friendly, just follow the steps on your chosen wallet’s website. You’ll need to add some digital currency to your digital wallet, which you can generally do using Apple Pay or a debit card. It might seem daunting to set this all up and buy the digital currency, which is hassle-free.

Creating your NFT

Once your wallet is set up and connected to your chosen marketplace platform, you’re ready to make and sell your first NFT. Most of these websites are extremely user friendly and will display a “create” button. Once you’ve clicked this, you’ll need to upload the digital file that you want to turn into an NFT.

Most platforms will accept files in the following formats:

1. PNG
2. GIF
3. MP4
4. WEBP
5. MP3

Take note that you will be required to choose between creating a single or an NFT collection. We recommend opting for a collection, as these are generally more successful than single NFTs.

When you’re turning your files into NFTs, you’ll have to enter additional details for each item, such as:

1. The artwork
2. Name
3. External link
4. Description
5. Supply
6. Blockchain.   

Listing your NFT

Congratulations, you have created your first NFT! Next up, you will need to list it for sale. You will usually be given one of three options on how to sell your artwork:

Fixed price – enables you to pick a set price and sell your NFT instantly

Unlimited auction – allows customers to continue placing bids until you accept one

Timed auction – only lasts for a set time

If you opt for a timed auction, you’ll have to choose a minimum price for your NFT. This can be a tricky balance, especially when first starting out and getting to know the market – One should pick a price that’s too low and the fees will assimilate your profit but select a price that’s too high and you risk not selling at all.

Fees

It’s only fair that we warn you about some additional fees to consider. You’ll have to pay a listing fee, a fee to generate your NFT, and a commission fee for the sale, plus a transaction fee for the transfer of the money from the buyer’s wallet to yours. This isn’t always clear on NFT marketplace platforms, so make sure to bear these in mind when setting the price for your NFT!

Promoting your NFTs

Now that you’ve created and listed your NFTs for sale, you need to let people know about them! Simply listing them does not guarantee that people will buy them – they can’t buy something they don’t know about. Promote your NFTs to your followers on social media, include them in an email newsletter if you send one, and make sure to feature them on your website too.

Final thoughts

NFTs can be hard to keep up with, but with this simple guide to creating and selling your own, we have set you up on the road to success in growing your business as a freelancer in the UAE and breaking into the booming NFT market!

Shams Free Zone is one of the most cost-effective and business-friendly hubs in the UAE that gives freelancers an opportunity to set up a business and supports their journey with a freelance package that is easy on the pocket.

Shams offers media licenses to freelancers undertaking various activities such as creative, arts and entertainment. It comes with everything one needs: a Freelancer License, access to the modern business centre, a range of support services, and a UAE Residence Visa. Visit www.shams.ae or call Shams authorities at 800 (Shams) 74267 to learn more about setting up your business.