Avoid wasting money on the sale of your first NFT

My first NFT sold for 0.05 ETH

What an exciting time to be alive! Creators from all around the world can put their artwork online and get paid by crypto art collectors. I have been painting and sketching in my iPad since 2018 and I could have never found a better way of monetising them until the times of NFTs.

Here, I am sharing with you four of my learnings on selling my first NFT.

1. Do not run an auction with your first minted NFT — While the most common way to set your NFT sale price is through a fixed price I decided to start a bid for a week. When you are new out there it makes no sense to make an auction because your artwork has no value before you have created a demand for it or have built a community around.
2. Avoid the costs of converting your ETH to WETH — When you run an auction the people making the offer have to exchange their ETH to WETH, which costs gas fee. The same way you need to transfer later your WETH to ETH once you accept the bid. In other words, putting a fix price from the beginning avoids twice the need of exchanging currency thus paying gas fees twice. Alternatively, you can mint NFTs on the Polygon blockchain (with no gas fees!). However, buyers have to have a Polygon wallet and there are gas fees for converting ETH to MATIC.
3. Do not price too low your NFT or you won’t be able to accept the…