The extent to which an NFT is easy or hard to sell depends on a few factors:
- Does the NFT have an audience? If you are selling an NFT from a popular NFT collection, it is much more likely to sell as there is an existing community willing to buy. If you are selling an NFT you have created yourself, it will be difficult to sell unless you promote yourself and your work.
- Are you selling the NFT at a reasonable price? Most NFT marketplaces will display the floor price for an NFT collection – the lowest price listed for an NFT from that collection. Unless your NFT has specific traits that make it more valuable, listing it at substantially higher than this price will make it difficult to sell.
- Does the NFT have any utility? The utility of an NFT – the perks, advantages and benefits it gives you – often give NFTs a large amount of its value. NFTs with strong utility are often seen as more valuable by prospective buyers.
In short, unless an NFT already has an audience, yes, it is hard to sell an NFT.
Due to sky-high reported prices for NFTs in everyday media, many are under the impression that it is easy to sell an NFT for huge amounts – but the reality is that it is very difficult to sell an NFT, and even harder to sell an NFT for a large price.
If you are an artist thinking of creating your own NFTs, we suggest embedding yourself into the wider community and learning from your fellow peers. Acquainting yourself with sites such as NFT Insider, communities on apps such as X and Discord, and even in-person events will all help to develop your understanding of the industry.