About my journey so far: I created my OpenSea account about two weeks ago. It cost me about $100 to get started: $20 in transaction fees to get Etherium into my MetaMask wallet and then about $80 in Etherium gas fees to create my first collection. I used this website to watch gas prices for a couple of days to see when gas prices tended to be lowest: https://ethgasstation.info/
Since then I have been uploading a few panda NFTs every day. I have been working on my 1000 pandas project, so I have almost 100 panda images as a backlog ready to upload as NFTs. Once I've caught up with my backlog I will create the NFTs as I create the pandas.
When I create an NFT, I have been creating a supply of 1000 for each item (add "?enable_supply=true" to the end of the create URL to be able to change the supply of your OpenSea NFTs). When I finally finish making all 1000 pandas and making 1000 NFTs of each, that will end up being 1 million panda NFTs!
I did this so I could experiment, and what I'm experimenting with right now is pricing. I started out with high prices, like 0.1 ETH (around $170 USD), but I have been dropping the price lower and lower. I'm setting all of my NFTs at fixed prices.
My first sale was of this panda, Orange Glow Panda #74, for 0.0011 ETH (around $2 USD).
Because it had a fixed price, the sale went through without me doing anything. I just got an email saying I had made a sale. Obviously, I haven't even broken even yet, but it was still exciting to get the email! The next thing to do is figure out what I want to do with all 0.0011 ETH I got from the sale.
Since then I have been uploading a few panda NFTs every day. I have been working on my 1000 pandas project, so I have almost 100 panda images as a backlog ready to upload as NFTs. Once I've caught up with my backlog I will create the NFTs as I create the pandas.
When I create an NFT, I have been creating a supply of 1000 for each item (add "?enable_supply=true" to the end of the create URL to be able to change the supply of your OpenSea NFTs). When I finally finish making all 1000 pandas and making 1000 NFTs of each, that will end up being 1 million panda NFTs!
I did this so I could experiment, and what I'm experimenting with right now is pricing. I started out with high prices, like 0.1 ETH (around $170 USD), but I have been dropping the price lower and lower. I'm setting all of my NFTs at fixed prices.
My first sale was of this panda, Orange Glow Panda #74, for 0.0011 ETH (around $2 USD).
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