Making a Living with NFTs: Practical Tips and Strategies
Written by  Daisie Team
Published on 9 min read


  1. What are NFTs?
  2. How to buy and sell NFTs
  3. How to create NFTs
  4. Where to market your NFTs
  5. Tips to boost NFT sales
  6. How to protect your NFT investment
  7. Strategies for long-term NFT investment
  8. Case studies of successful NFT traders

Have you ever wondered "Is it possible to make a living by trading NFTs?" You're not alone. NFTs, or Non-Fungible Tokens, have become the talk of the town recently, with artists, creators, and investors alike getting involved in this dynamic digital market. In this blog, we'll walk you through the basics of NFTs, strategies for buying, creating, and selling them, and even share some success stories from those who've made a living with NFTs. Ready to dive into the world of NFTs? Let's get started.

What are NFTs?

You might have heard the term 'NFT' thrown around a lot recently. But what exactly are NFTs? In simple terms, NFTs, or Non-Fungible Tokens, are unique digital assets that you can own and trade on the blockchain. They're different from things like cryptocurrencies because each NFT has a unique value, like a one-of-a-kind painting or a signed baseball card.

Here are a few key points to note about NFTs:

  • Uniqueness: Each NFT is unique and can't be replaced with something else. If you own an NFT, you're the only person who owns that exact digital asset.
  • Ownership: When you buy an NFT, you're buying a digital certificate of ownership for a specific digital asset. This could be anything from digital artwork to virtual real estate.
  • Blockchain technology: NFTs use blockchain technology, which is a kind of digital ledger that records transactions. This ensures that the ownership of each NFT is transparent and secure.
  • Value: The value of an NFT can fluctuate quite a bit, based on its demand in the market. Some NFTs have sold for millions of dollars, while others might not be worth much at all.

So, is it possible to make a living by trading NFTs? Given the unique nature and potential value of these digital assets, the answer is a resounding yes. But like any investment, it requires a good understanding of the market, some savvy strategies, and a little bit of luck. Read on to find out more about how you can start your journey into the world of NFT trading.

How to buy and sell NFTs

Now that we've covered what NFTs are, let's get into how you can start buying and selling them. It's a multi-step process, but don't worry—we're here to guide you through it.

First off, you'll need to set up a digital wallet. This is where you'll store your NFTs and any cryptocurrency you'll use to buy them. Some popular wallet options include Metamask, Trust Wallet, and Coinbase Wallet. Once you've set up your wallet, you'll need to buy some cryptocurrency—most commonly Ethereum, which is widely used in the NFT market.

Next, head over to an NFT marketplace. These are online platforms where you can browse, purchase, and sell NFTs. Some well-known NFT marketplaces include OpenSea, Rarible, and NBA Top Shot.

When you see an NFT you like, you can purchase it directly from the marketplace using your digital wallet. The NFT will then be transferred to your wallet, and you'll officially be the owner of that digital asset.

Now, what about selling NFTs? If you're an artist or creator, you can sell your own unique creations as NFTs. Or, if you've purchased an NFT with the aim of making a profit, you can resell it on the marketplace. It's a bit like trading baseball cards or other collectibles—you buy low, sell high, and pocket the difference.

So, is it possible to make a living by trading NFTs? Absolutely. But remember, it's not just about buying and selling. You need to understand the market, track trends, and make strategic decisions. And that's something we'll discuss in more detail in the next sections.

How to create NFTs

Creating your own NFTs is an exciting and creative way to enter the NFT world. So, how do you do it?

First, you need to create a digital asset. This could be a piece of digital art, a song, a tweet, or even a meme. Remember the key thing about NFTs is that they are unique, so your creation needs to be original and stand out from the crowd.

Once you've created your digital masterpiece, you need to "mint" it. Minting is the process of turning your digital asset into an NFT. You do this on an NFT marketplace like OpenSea or Rarible. There will be a "create" or "mint" button on the website—simply follow the steps, which usually involve uploading your digital asset and filling in some information about it.

Once you've minted your NFT, it's ready to sell. You can set a price for it, or put it up for auction and see who bids the highest. The money you make from selling your NFTs can be a nice side income, or—if you play your cards right—it could even become your full-time job. So yes, it is indeed possible to make a living by trading NFTs. But remember, just like any marketplace, it's unpredictable and requires a good amount of research and understanding.

Creating NFTs is not just about making money, though. It's a way for artists and creators to express themselves, reach a global audience, and truly own their work. It's a new frontier in the digital world, and we're all still learning what's possible.

Where to market your NFTs

The next step in your journey to make a living by trading NFTs is marketing them. The good news is that there are numerous platforms available for this purpose. The choice of the platform can significantly impact the visibility and thus, the sales of your NFTs.

There are several marketplaces where you can list and showcase your NFTs. Some of the most popular ones include OpenSea, Rarible, and Mintable. These platforms not only allow you to list your NFTs but also provide tools for promoting them.

But marketing your NFTs isn't just about listing them on a platform. It's also about standing out from the crowd. For that, you need a compelling story behind your creation. You need to share this story with your potential buyers — it could be through social media, your personal website, or even the description of the NFT. The more engaging and unique your story, the higher the chances of your NFT getting noticed.

Another effective marketing strategy is leveraging the power of social networks. Platforms like Twitter, Instagram, and Discord have large communities of NFT enthusiasts. Engaging with these communities can help you reach potential buyers and raise awareness about your NFTs.

So, to answer the question "Is it possible to make a living by trading NFTs?" — yes, it is. But it requires not just creating unique NFTs but also effectively marketing them. It's a challenging yet rewarding journey.

Tips to Boost NFT Sales

Now that you've created your NFTs and identified where to market them, let's explore some tips to boost your NFT sales and make a living by trading NFTs.

Price your NFTs correctly: This can be tricky, but it's important. Too low, and you might not make much profit; too high, and buyers might overlook your NFTs. Research similar NFTs in your chosen marketplace and find a balance between what you believe your work is worth and what buyers might be willing to pay.

Use high-quality visuals: Whether it's art, collectibles, or virtual real estate, the visuals of your NFTs can be a make-or-break factor. Great visuals can attract attention and create a strong first impression.

Engage with your audience: Building relationships with potential buyers is key. You can do this by responding to comments, sharing updates, and providing exclusive content to your followers. The more you engage, the more your audience feels connected to your work, which can lead to more sales.

Collaborate with others: Consider partnering with other creators or influencers in the NFT space. This could help you reach a wider audience and increase your sales.

Remember, consistency is key. You can't just list your NFTs and hope for the best. It's a continuous process of creating, marketing, engaging, and learning. But with the right approach, it's quite possible to make a living by trading NFTs.

How to Protect Your NFT Investment

So, you're ready to jump into the NFT market and possibly make a living by trading NFTs? That's great! But it's important to protect your investment. Here are a few tips on how to do just that.

Secure your digital wallet: It's the first line of defense for your NFTs. Use strong passwords, enable two-factor authentication, and be cautious of phishing attempts. It's always a good idea to keep your private keys offline and secure.

Research before buying: Sure, an NFT might look cool or seem like it's the next big thing, but do your homework. Check the creator's history, the rarity of the NFT, and its value on different platforms before deciding to buy.

Consider the long-term value: The NFT market can be volatile. Prices can skyrocket one day and plummet the next. Before buying an NFT, consider its potential long-term value. Will it still be desirable in a year or two? The answer could help protect your investment.

Diversify your portfolio: As with any investment, it's a good idea not to put all your eggs in one basket. Consider diversifying your NFT portfolio by investing in different types of NFTs from various creators.

Remember, NFT trading isn't a get-rich-quick scheme. It requires diligence, patience, and smart strategies. But with these tips, you're one step closer to protecting your investment and possibly making a living by trading NFTs.

Strategies for Long-Term NFT Investment

So, you've secured your digital wallet, done your research, and you're now ready to dive into the world of NFTs. But here's the big question—how do you make a living by trading NFTs in the long run? Let's talk strategy.

Look for NFTs with Utility: NFTs that offer more than just visual appeal tend to hold their value better. These could be NFTs tied to real-world assets, virtual reality items, or those that grant access to special events or content. The more utility an NFT has, the more likely it is to retain its value over time.

Invest in Established Artists: While it's always exciting to discover new artists, if you're thinking long-term, it might be wise to consider NFTs from established artists or creators. They have a proven track record and a dedicated following, which can add to the NFT's value.

Stay Informed: The world of NFTs is always evolving. New platforms, trends, and technologies regularly emerge. By staying informed, you can adapt your strategy and make the most of new opportunities.

Think Long-Term: While the temptation to sell an NFT after a sudden price increase can be strong, remember that NFT trading is not just about quick wins. If you believe in the value of your NFT, holding onto it can lead to even greater returns in the future.

These strategies won't guarantee success, as with any investment there's always risk involved. But they can certainly put you on the right path towards making a living by trading NFTs. So, ready to give it a shot?

Case Studies of Successful NFT Traders

Is it possible to make a living by trading NFTs? Well, the answer is a resounding yes. Let's look at some real-life examples of individuals who have managed to do just that.

Trader A: Let's start with a trader who started dabbling in NFTs back in 2017. She invested in CryptoKitties, a blockchain-based virtual game that allows players to adopt, raise, and trade virtual cats. With a keen eye for rare traits and an understanding of the game's mechanics, she was able to turn her initial investment into a significant profit.

Trader B: Then there's a trader who saw the potential in virtual real estate. He bought parcels of land on Decentraland, a virtual reality platform powered by the Ethereum blockchain. As the platform grew in popularity, so did the value of his virtual land. Today, he leases his properties to virtual businesses, earning a steady income.

Trader C: And let's not forget the trader who invested in a piece of digital art by Beeple, a well-known digital artist. When the artist's work started gaining recognition, the value of the NFT skyrocketed, leading to a substantial return on investment for the trader.

These are just a few examples of individuals who've found success in the NFT market. While their paths and strategies differ, they all share one common trait—they recognized the potential of NFTs early on and took the plunge.

Who knows? With the right strategy and a bit of luck, you could be the next success story in the world of NFTs.

If you're looking to capitalize on the NFT craze and turn your creations into a sustainable income, we highly recommend checking out the workshop 'Sell Your Creations As NFTs' by Tom Glendinning. This workshop will provide you with practical tips and strategies to successfully enter the world of NFTs and make a living from your art.