How to price your NFT art collection
If you thought pricing your physical art is tough, wait till you begin to sell NFTs and have to figure out how to price your NFT art collections. You probably wouldn’t find many genuine resources that advise you on how to price your NFT 3D printings and arts for sale on Opensea or other marketplaces.
The reason for this lack of information is that people are still quite new to NFTs. No matter what you think we have achieved so far when it comes to NFTs, we are still scratching the surface. There is no formula to determine what price to sell NFT art.
On the one hand, you don’t want to set your NFT price too high, because you don’t want to scare potential buyers away. On the other hand, pricing your NFT too low would make it difficult for you to increase the floor later on.
However, there are several factors that determine how to set the price for your NFT. This post will answer your questions of what price to sell NFT and give you a clear understanding of how NFT pricing works.
How do I price my art NFT?
The factors that determine how much you should price your NFT art include the following:
1. NFT rarity.
2. Artist experience.
3. Perks of owning your NFT.
4. Fluctuations in ETH price and crypto market.
Factors that determine how you price your NFT arts
1. NFT rarity
The first thing to consider when setting a price for your NFT is how rare your NFTs are. In NFT Marketplaces,, you will find all types of NFTs. Some artists follow trends while other artists create unique arts.
The rule of thumb is that the more unique artworks usually have higher price tags. How many pieces are in your collection? Are your NFT artworks distinguishable from the crowd? Do your artworks have hundreds of NFT editions or only a few tens? By now, you already know where I’m going with this.
Generally, rare NFT artworks sell faster and are therefore priced higher. I advise you to experiment with various rarities and prices until you hit a sweet spot in your NFT collections pricing that works for you.
2. Artist experience
There are two types of sellers on NFT marketplaces – new artists looking to cash out from selling NFTs and artists who are established outside of the CryptoArt space and are looking to sell their artworks as NFTs.
Established artists are doing well already and use NFT as another outlet to sell their artworks. Some artists are well-known in the CryptoArt space. Obviously, these established artists have sales history and connections, so, they can sell their artworks at much higher prices than an artist who is new to selling NFTs.
My advice on this is that if you know that you will sell NFTs, you have to immerse yourself in the space. Contribute to communities, Twitter Spaces, etc., and grow your popularity. Comment on crypto stuff, retweet NFT updates, and air your opinions.
When you begin to gain credibility and some trust within the community, you’ll find it easier to sell your NFTs for more decent prices.
3. Perks of owning your NFT
You can attest to the fact that the most valuable NFTs are not particularly incredible works of art. Most are not particularly beautiful, and this has raised a lot of confusion among newbies. People wonder why someone would purchase an ugly drawing of a monkey for thousands of dollars.
To clear this, you have to understand that people don’t purchase NFTs because of how beautiful the artworks look. People will buy your NFT when they want the perks that come with owning the collection. Also, avoid exaggerated promises like that of the Pixelmon NFT.
When deciding how to set the price for NFTs, you have to attach a purpose to your NFT, as this skyrockets the price you can sell. The extra perk of holding your NFT could be an exclusive invite to special events, discounts, a physical collectible, owning a character in a game, etc.
4. Fluctuations in ETH price and crypto market
You buy and sell NFTs using cryptocurrencies, such as Ethereum (ETH), and cryptos are notoriously volatile. Therefore, before deciding what price to sell NFTs, you must bear this fact in mind. Do not make the mistake of thinking of Eth in terms of US Dollars or other fiat currencies.
When you set a price for your NFT, stick to it and ignore the fluctuations in crypto prices. Remember that your buyers are going to spend Ethereum and are thinking in terms of Ethereum.
5. The marketplace in which you sell
You can sell your NFT art collections on any marketplace you wish. Some marketplaces are open to everyone, whereas others are exclusive. The marketplace is a huge factor that determines how to price your NFT art.
Most artists begin their journeys on open marketplaces, such as OpenSea and Rarible, and this is what I advise you to do. You don’t have to wait on the exclusive marketplaces to approve your application from the hundreds they receive.
Now, how does the marketplace determine what price to sell your NFT? If you are looking to sell lower-priced collectibles, you can do that on alternative platforms that may not be Ethereum-based. Alternatively, sell your rare and higher-priced NFTs in the more exclusive marketplaces.
A word of advice: Do not sell the same NFT artworks on different platforms at different prices or your art loses all credibility.
How is NFT price calculated?
To calculate the price of an NFT, go to Etherscan.io and search for the NFT. You can search by the address, block, token, transaction hack, and ens. To check the price history of an NFT, use CryptoSlam.io. Here, you will see the rankings of the collection, market data, sales history, etc.
How much does it cost to sell NFT?
The cost of selling NFT varies by platform. Expect to first pay around $70 to $300. Then, to get access to the marketplace, you pay between $10 to $30. It’s cheaper to set up your account when petrol prices are low.
Is it profitable to sell NFTs?
Selling NFTs is profitable if you do it right. NFTs have sold for x200 the floor price within weeks. If you have unique pieces of art or other collectibles and are wondering if it’s profitable to sell NFTs, the answer is yes.