Getting into the blockchain space might seem like an intimidating procedure in the eyes and minds of many creators. Artists tend to focus on creating masterful artworks to show to the world. Putting time and effort towards learning a programming language to create smart contracts and non-fungible tokens (NFTs) can leave them with less time to focus on doing what they love.
Furthermore, setting things up throughout various NFT marketplaces can be intimidating and time-consuming. This is where Pastel’s SmartMint solution aims to lessen the workload of creators so that they can focus on doing what they love while also getting all of the benefits available throughout NFT marketplaces.
What Are Non-fungible Token (NFT) Marketplaces and How Do They Work?
Marketplaces that enable each user to list, sell, trade, or buy non-fungible tokens (NFTs) are categorized as NFT marketplaces.
These online platforms allow creators and collectors to control the process of buying or selling NFT art pieces and also earn cryptocurrency as compensation.
Most of the marketplaces will also charge a transaction fee or require an account for users to be able to list the NFTs.
Initially, users could purchase or trade NFTs directly on the blockchain. With the high level of popularity, accessibility was enhanced.
NFTs are appealing to investors for multiple reasons. For one, collectors find pleasure and appeal in collecting artworks from the creators they follow. The appeal of owning a one-of-a-kind NFT is appealing to them. Another reason is their value appreciation. Investors might also buy an NFT so they can sell it at a later point in time for financial gain, potentially doubling their investment.
Based on these aspects, it is clear what NFT marketplaces are and what they actually represent. These two aspects have encouraged many creators to make their entry into the NFT space, but not all of them know where to start.
Some of the most notable marketplaces include OpenSea, Rarible, SuperRare, Foundation, ATomic market, and Enjin Marketplace, but others are also available.
How Do Users Sell Non-fungible Tokens (NFTs) on Marketplaces?
There are two primary ways in which users can begin making profits through the artwork.
The first is through actually creating a piece of art to mint as an NFT. Artists can essentially create a virtual artwork, which can be in the form of an image, audio file, gif, or video.
Then, they must mint this piece on a blockchain network as an NFT via a smart contract.
Using the SmartMint solution developed by the the Pastel network, users can easily create and deploy NFT Smart contracts across various standards, such as Ethereum (ETH) or Solana (SOL), without needing to learn how to code the smart contracts manually. From there, SmartMint allows users to easily create and mint NFTs with only a few clicks!
Once users create an NFT, they can list it in a marketplace with one extra step. Through SmartMint, users can list the NFTs on OpenSea, Rarible, and others, or airdrop them to fans directly.
“NFT platforms have come a long way since 2018 thanks to innovation in user-friendly marketplaces like OpenSea, but launching your own NFT can be particularly daunting if you don’t come from a strong technical background,” said Pastel co-founder Anthony Georgiades.
Users of SmartMint can list or sell the NFT on any supporting marketplace with ease. After the NFT has been minted, they need to go to the marketplace that supports the native smart contract deployed, and then they can connect their cryptocurrency wallet.
Some marketplaces will require users to create a separate, dedicated account. Once users create an account, connect their cryptocurrency wallet, and migrate the NFTs they desire, they can list them for sale.
Each user that creates an NFT can also set up royalties and get paid for each subsequent sale of the NFT.
The Advantages of Listing Non-fungible Tokens (NFTs) on Multiple Marketplaces
SmartMint by Pastel Network supports multiple chains, such as Ethereum (ETH), Polygon (MATIC), and Solana (SOL). Additional support for blockchains and Layer-2 solutions will be added at some point in the future.
There are multiple reasons and advantages why creators might want to list their NFTs or release them on certain networks.
Each blockchain will have its own community and set of collectors. Some prefer collecting on Solana. Others prefer collecting on Ethereum. By giving collectors the option to buy different NFT from an artist on different blockchains, these creators will be far more appealing than creators that do not list their different collections on other blockchains and remain exclusive to a single blockchain.
Some blockchains will charge lower transaction fees and gas fees, so this can incentivize collectors to pick one blockchain over the other, especially if they are collecting hundreds of NFTs instead of sticking to a single piece.
By listing on multiple blockchains, the artist or creator can get much more exposure, making it a solid idea to do so.
Moving Forward With Listing NFTs Through SmartMint
It is clear that the process of listing NFTs on marketplaces has never been simpler, and through tools such as SmartMint, the procedure is more secure than ever before while also enabling creators to have full control over their smart contracts.
SmartMint also features a rareness scoring system created by Pastel Network called Sense, which is a near-duplicate NFT detection protocol, and Pastel’s Cascade, a distributed, permanent storage system for NFT data, where users can pay once and store their NFTs forever.
