During the month of October, I created and sold 500 non-fungible tokens (NFT’s). I went from knowing almost nothing about NFT’s to selling out an entire Cardano NFT project making $25,000 in just 30 days.
I’ll be the first one to tell you that I have no idea how to code, I’m not a developer, software engineer, or stereotypical crypto enthusiast. Prior to this creative NFT project, I barely owned any crypto.
Before we get to the “how,” we need to handle the “why” and the “what.”
Why I Created an NFT Project
I spend the majority of my day immersed in one of the most stressful career fields. Commissioned sales. I’ve always held a creative outlet as a way to balance the transactional give and take that is the sales profession. Whenever I hear of new emerging technology, I tend to want to learn as much as I can about it and sometimes get involved. That’s exactly how this website came to be.
In the case of NFT’s, I figured it was a risk-free way to earn some capital to invest in crypto without risking what’s set aside for retirement or taking out of our monthly budget. Also, I figured that it would allow me to better understand this new industry that seems to be growing exponentially.
Both turned out to be true.
What’s an NFT?
An NFT is a unique, non-interchangeable asset stored on a digital ledger (blockchain). NFTs can be found on Ethereum, Cardano, Solana, and several other blockchains. Different from Bitcoin, these 2nd and 3rd generation blockchains have far more utility.
An NFT can be used to represent photos, videos, audio, video, and other types of digital files as unique items. It relies on blockchain technology to establish a verified and public proof of ownership. In short, it keeps digital assets from being pirated, duplicated, and proves ownership and potential royalties to the owner.
How do NFT’s Work?
NFT’s are currently specific to the blockchain to which they are minted. Minting is the act of establishing that digital asset onto the blockchain. This is all done on a computer connected to the general internet. When you’re buying and selling NFTs, cryptocurrency, etc. You’re interacting with the blockchain, but likely don’t realize it.
Once the digital asset is minted to the blockchain of your choice you can sell, trade, gift, etc. by either hosting it on an NFT marketplace like Opensea (Ethereum), CNFT.io (Cardano), Solanart (Solana). Another option is to use a mint-on-demand service where the NFT isn’t minted until someone pays for it. Some marketplaces offer this option as well.
For all assuming purposes, creating and selling NFTs is not a lot different than historically selling digital art, but it provides proof of ownership. That is what makes NFTs so valuable.
How I Sold 500 NFTs in 30 Days
I’m not a coder, software engineer, nor have I been trained in any of that, but I still managed to mint and 500 NFT’s on the Cardano blockchain. I sold 500 NFT’s at between 20-30 ADA. At the time, 1 ADA = ~$2.00 USD (you can do the math).
I’m not sure how long this opportunity will exist, but while it does, I’m capitalizing on it and I suggest you familiarize yourself with it as blockchain technology will quickly saturate everything we do on the internet.
Step 1: Create Something
My project was a 2D PNG image of a 3D object that I called, “Stones of Creation.” As you can see in the image below, these are all unique, different pieces of digital art. You may not understand why someone would exchange money for an image, but that doesn’t change the fact that it is real and billions of dollars are flowing into this new market.
In order to sell a digital asset, you must be able to create a digital asset. This is the only thing that separates me from you. I had a creative idea that I had shelved years ago and turned it into a cohesive themed project.
In addition to the 1 of 1, unique nature of my creations, I included an additional layer of rarity based on the number of orbs/lights held within some of the stones, the backgrounds, and the color of the orbs. This enhances the chances that someone will receive a more rare NFT out of the already rare collection.
Step 2: Create a Launch Plan
You can’t simply build it and hope buyers will come. You must have some sort of plan to draw attention to your NFT project. This is what I did:
Created a Twitter account (free)
Created a Discord Server dedicated to my project (free)
Posted my launch date on CNFT calendar websites (free)
Shared my project on other projects Discord servers (free)
Determined what service I would use to mint-on-demand (free)
Created a Cardano Wallet to receive the funds from the sale (free)
Set up a simple website to post the buying link ($150/yr subscription)
Once I had all the pieces to the puzzle, all that was left was to build momentum and gain as much attention as I could before the launch date.
Step 3: Go Live
I spread my launch dates out over 4 different “drops.” This was because I hadn’t completely finished making all 500 NFT’s before I was ready to start selling them. When I first began, I was hoping to just sell 10 of these things. The interest was so much that I decided to go much bigger with 500 NFTs.
I sold 100 in each of the first 3 drops within the first day. The final drop consisted of 200 NFTs and sold out the same day. Could I have sold more? Yes, but I honestly got sick of making them. The fact that there were only ever going to be 500 created was a big reason why they sold out as they did. In the NFT game, it’s all about scarcity, rarity, and attention.
Need More Detail?
I’m about to release my next project on November 13th to members of my Discord server. If you have any questions at all, please feel free to join and ask. If nothing else, you can join, hang out, and learn more about this CRAZY world.
What Did I Do With The Profits?
Once some of my friends and family found out about the success, the first thing most of them said was, “well good luck on taxes.” They’re not wrong, this is going to be a bit of a tax headache, but what’s funny is if I told them I got a raise at work, they wouldn’t have said that. Either way, it’s more money than I had 30 days ago so I’m not complaining.
I donated 1,000 ADA (~$2,000) to the Cardano Forest where they will plant 1,000 trees with my donation. They also sent me some cool NFTs for donating. I invested $8,000 of it into other cryptocurrency projects for risk-free growth and I moved some of it into USD and am holding the rest in ADA through tax season.
My next project is called “The Stars of Creation” and consists of 1,000+ unique deep-space images I created (below). Additionally, you can see all of my NFT projects at NickCNFT.com