NFT Europe: How to create, sell and trade NFTs from Europe

NFTs in Europe are becoming more and more popular!

You are a Digital Artist in Europe and want to dive into NFTs?

Or you are an art collector and want to trade with digital art online?

You’re in the right place. 

In this article, you’ll learn how to create, sell and trade NFTs in Europe, as well as where to find the best NFT marketplace for your needs. 

Let’s dive in.

What Are NFTs?

If you’re new to the world of NFTs and want NFTs explained – I’m here to help.

I’ll explain everything you need to know about NFTs, from how to create one to where you can buy them.

I’ll also introduce some of the most famous NFT projects out there.

So sit back, relax, and get ready to learn all about NFTs! 

NFTs Or Non-Fungible Tokens Are A Type Of Cryptocurrency

NFTs, or non-fungible tokens are a type of cryptocurrency that you can’t exchange for other cryptocurrencies.

This means that each NFT is unique and you can’t replace it with another NFT.

In contrast, you can exchange one dollar for another dollar, because they’re both fungible (interchangeable) currencies. They hold the same value and there is no difference to the holder between, say, one dollar bill and another.

NFTs Are Created On The Blockchain In A Process Called MINT

Minting is the process of placing your NFT on the blockchain so that it can’t be changed or deleted.

So how do you create NFTs? Well, anyone can create one.

There are even some platforms that allow you to create your own NFT without any coding knowledge!

Once you’ve created it, you’ll need to mint it onto the blockchain.

After that, when your NFT is minted, it’s ready to be bought, sold, or traded!

Anything That Can Be Represented Digitally Can Be Turned Into An NFT! 

Basically, anything that can be represented digitally can be turned into an NFT! 

NFTs are stored on the blockchain, just like other cryptocurrencies.

However, unlike other cryptocurrencies, they can represent digital or physical assets.

For example, an NFT could represent a digital image, video, or piece of music. Or it could represent a physical object like a piece of art or a ticket to an event.

NFTs Can Be Traded On Many Marketplaces, Most Wide Known Is OpenSea

There are lots of different places where you can buy, sell, or trade NFTs. Some of the most popular are OpenSea, Rarible, SoRare, Makersplace, Niftygateway, Magiceden, etc.

OpenSea is the first and the largest NFT marketplace in the world.

On OpenSea you can buy, sell, or create NFTs. With over 200 categories of items available and competitive prices, it’s the go-to marketplace for anyone looking to trade in sports NFTs, virtual worlds, trading cards, decentralized domain names, utility NFTs, digital art, or digital collectibles. In 2022, OpenSea had over 1 million users.

Another popular platform is Rarible. Rarible connects NFT creators with buyers who want access to a variety of NFT categories, including art, photography, games, metaverses, music domains, decentralized finance, memes, and more. The platform supports three blockchains: ethereum, tezos, and flow.

However, the minting process on Rarible isn’t as favorable to NFT creators as OpenSea’s is. With Rarible, you have to mint your NFT before it even sells on the marketplace. Therefore, you’ll be responsible for upfront minting fees whether or not your NFT sells. With OpenSea, you don’t have to pay gas fees until your NFT sells.

How They Became So Popular?

Beeple sold his “Everydays” NFT for $69 million!

The popularity of NFTs can be attributed to a few key factors. Firstly, the rise of blockchain-based games and collectibles has helped introduce people to the concept of NFTs.

Secondly, the development of new platforms and protocols like ERC-721 and ERC-1155 has made it easier for developers to create and mint NFTs.

Finally, with the increasing value of Bitcoin and other cryptocurrencies, more people are looking for ways to invest their money, and NFTs have emerged as a popular option.

They started to gain mainstream attention in 2020. This was thanks to several high-profile sales, including the sale of “Everydays” NFT by the artist Beeple for $69 million! Since then, more and more people have become interested in NFTs.

Some Of The Most Popular NFTs

BAYC has crossed $1 billion in total sales.

Bored Ape Yacht Club is an exclusive club for people who own at least one NFT from the collection. In the time of writing, the cheapest Bored Ape NFT to buy, costs 94Eth ($143K), and comes with a number of benefits including discounts on Yachts and private jets!

Some of the most famous NFTs out there include Crypto Punks and Bored Ape Yacht Club. Crypto Punks are 8-bit characters that were minted in 2017 on the Ethereum blockhain. They are the first PFP (profile picture) NFT collection ever! There are only 10,000 Crypto Punks in existence and each one is completely unique!

Fidenza by Tyler Hobbs is a part of generative NFT art collection ArtBlocks, is a series of 999 colorful pastiches based on an artistic algorithm that have sold for more than 37,000 ETH, over $150 million. 

You Can Create, Sell, And Trade NFTs From Europe

Exactly! Crypto is a global phenomenon, and therefore NFTs too!

But, what does that mean for you as an Artist?

Trough crypto you can create, sell and trade NFTs from and to any place of the world!

You can easily create your NFT in Europe and sell it worldwide!

And the best thing is that you don’t need an expensive auction houses that take most of the profits!

Create an NFT by yourself, put it on the blockchain and materialize your art. It’s simple as that. You can do that now as NFT Artist from Europe.

But before you dive in, let’s get a quick grasp on crypto regulations.

NFTs In Europe: Crypto Regulations

By now, you probably know that NFTs are a part of the crypto world.

In short, is crypto allowed in Europe? YES!

In fact, Europe is quite crypto-friendly. Most countries have favorable laws and regulations when it comes to cryptocurrency – so you shouldn’t have any problems setting up a wallet or buying/selling crypto on an exchange.

Are NFTs allowed in Europe? YES!

More precisely, NFTs are still not regulated. As they are an innovation for multiple industries they are not regulated in most countries. Although, several regulatory initiatives at international and European levels may lead to the adoption of a more harmonized regime for NFTs.

On this matter, most countries’ regulators try to prevent money laundering through NFTs. Hence, if you are a law-abiding citizen who only tries to sell digital art and pay taxes, there is no reason to worry.   

Furthermore, if you issue or exchange (in each case for money, other crypto assets, or another form of value) NFTs by way of business from within the UK, you will need to register with the Financial Conduct Authority under the Money Laundering Regulations before doing so. If you operate in the EU, individual jurisdictions will have similar requirements.

So if you’re based in Europe and thinking about creating or selling an NFT, make sure you’re familiar with the laws in your country before doing so. 

Guide: Create And Sell An NFT From Europe

Now that you know the legal landscape for NFTs in Europe, let’s take a look at how you can create and sell your own NFTs.

Creating an NFT is actually quite simple!

All you need is an image or video file that you want to turn into an NFT.

But before you start creating, you have to set up a crypto wallet.

Find out how with this easy and secure way to buy NFT’s guide.

I’ll guide you how to set up your crypto wallet in 2 easy steps.

Step 1: Set Up A Crypto Exchange Account And Buy Crypto

If you’re looking to get into the world of crypto, one of the first things you’ll need to do is set up an account on a crypto exchange. There are many different exchanges out there, so it’s important to do your research and find one that’s right for you.

You can choose between Binance, Kraken, Coinbase etc.

Once you’ve found an exchange, setting up an account is usually pretty straightforward.

Next, you have to decide which crypto to buy. If you want to buy an NFT on a particular blockchain, you’ll need to purchase the corresponding cryptocurrency. Most NFT marketplaces are built on the Ethereum blockchain, so if you want to buy an NFT on Ethereum, you’ll need to buy some ETH.

The next step is to transfer the ETH to your browser wallet extension.

Step 2: Transfer Crypto Into Browser Wallet Extension

The first thing you need to do is install a browser extension wallet. There are different crypto wallets available, depending on which blockchain you want to use. The most popular wallet for the Ethereum blockchain is MetaMask. You can find it in Chrome Web Store if you’re using Google Chrome, or you can download it from MetaMask.

Storing your “keyphrase” in a safe place is very important! Make sure you keep it secure, as if you lose it, there is no way to access your wallet again.

After you’ve set up your MetaMask wallet, you’ll have generated a new ETH address. That is the address where you need to send the ETH that you bought on the crypto exchange previously. Transfer the ETH from the crypto exchange to your new address, and wait a few minutes for the ETH to arrive in your wallet. Once you’ve done this, you’re ready for the next step!

Great! Now that you have set up and funded your crypto wallet, it is time to create your first NFT!

There are a few different ways to do this, but the most popular method is to use some of the platforms like Opensea, SuperRare, or Rarible.

Let me give you a step-by-step guide on how to create an NFT on Opensea!

Create an NFT from Europe on Opensea in 7 easy steps

OpenSea is one of the largest and most well-known NFT marketplaces. It’s also one of the easiest platforms to use, so it’s ideal for beginners.  

Step 1: Connect the crypto wallet and click Create.

First thing to do when you land on opensea.io is to connect your crypto wallet in the right corner.

Once you’ve connected your wallet with Opensea, click Create in the right corner.

Step 2: Upload your NFT

Choose your NFT type: Image, Video, Audio, or 3D Model (up to 100MB)

Step 3: Set up the name and all the other details

You can even add a link to your website or socials in the “External link” section.

Presuming that you want your NFT to be part of a collection, you should create one here. If you don’t, Opensea will do it for you, and your new NFT will automatically show in that collection.

If you’ve created one, select your collection where your NFT will appear. You can add up to 50 NFTs to a collection, and 5 collections from your account.  

If your NFT is a collectible, you can set the parameters for the: Properties, Levels, and Stats.

Choose the options most suit you for “Unlockable Content and “Explicit & Sensitive Content”.

Step 4: Set the supply and select blockchain

That’s the number of the exact NFTs someone can mint. If you want your NFT to be 1/1 art piece, than set the supply to 1. If you want to sell 5 NFTs from the same artwork then select 5.

Choose the blockchain onto which you want to mint your NFT. NFT Artists mostly use Ethereum. It is the most popular blockchain for NFTs and you’ll find most of the NFT traders there.

Step 5: Click Create

There you go! You’ve created your first NFT!

Step 6: Freeze metadata

Click on Edit in the background to freeze metadata.

Select Freeze metadata to permanently lock and store the NFT’s content in decentralized file storage. That means that once you mint your NFT, its content can’t be changed – forever.

After you click “Freeze Metadata” click on “Submit transaction”. A popup transaction will appear in your wallet, and you have to accept it. You’ll need to pay a gas fee to freeze the metadata.

Congrats! You’ve created your first NFT and you’ve locked its content forever. Your NFT should appear in your wallet under the category Created.

Now it’s time to sell it.

Step 7: List your NFT for Sale

To list an NFT for sale on OpenSea, click on your NFT and select the “Sell” button at the top of the page. Choose between fixed price and Timed Auct,ion, set the price and click “Complete listing”. Be aware that when you sell your NFT, the Creator and Services’ fees will be deducted from the price that you’ve set. That’s 2.5% fees for Opensea and usually from 2.5% to 10% fees for the Creator of the NFT (in this case you). If you set your creator fees to 10%, that means that you’ll get 10% of the price each time your NFT is resold on the market.

Once you’ve completed the listing, your NFT is ready to be sold. Make sure you tell your fans about it and post it on your socials. That way you’ll have bigger chances to sell it. Good luck!

Want to see how some of the best artist did it?

Check their amazing stories and get some inspiration!

Famous European NFT Artists

Although it is believed that Europe is not much into NFTs, some of the most famous NFT artists are actually from Europe.

Murat Pak

Pak is one of the first and most famous NFT artist. His identity is anonymous. However, it is believed that he is from Istanbul, Turkey. He set the record for selling his NFT collection “The Merge” for over $90 million. It is the largest ever art sale by a living creator. The most important is that the sale didn’t happen at a traditional auction house, but on a web3 platform – Nifty Gateway. Pak introduced Beeple into NFTs in early 2020. His artwork is worth over $330 million.

Hackatao

Hackatao is a digital artist duo that originates from Milan, Italy. Their work explores sculpture, canvas, and different techniques, but they’re best known for storing their work on the blockchain. They began doing this in April 2018 and quickly flourished in the crypto art scene. Today, they’re one of the top artists pioneering this exciting new space. But their involvement in the crypto art scene isn’t just about making great art – it’s also about contributing to its community. And that’s what makes Hackatao so special. Their total artwork value is over $29 million!

XCOPY

XCOPY is a London-based artist, with a distinctive style that explores death, dystopia, and apathy through distorted visual loops. One of his most popular pieces is “All Time High In The City” which sold for $6 million. His total artwork values over $61 million!

Guide: How To Trade NFTs From Europe In 6 Easy Steps

Did you like the numbers up there?

Well, you can be one of the many successful NFT traders in Europe. You can do that in 6 easy steps.

Step 1: Setup a crypto wallet

By now, you already know that to buy and sell NFTs, you need a crypto wallet. I explained before how to set up one. Metamask is one of the best browser wallet that you’ll need for trading on the Ethereum network.

Step 2: Fund Your Wallet

Send some ETH to your wallet address in Metamask and you’re ready to go to the next step.

Step 3: Choose a marketplace

There are several great marketplaces where you can buy NFTs. OpenSea, Rarible, SoRare, Makersplace, NiftyGateway, MagicEden – they all have something special to offer.

For the Ethereum network, OpenSea is probably your best bet! With a sleek design and access to multiple blockchains, it’s easy to find the NFTs you’re looking for – whether it’s memes, collectibles, virtual land, or in-game assets. Plus, the learning curve is pretty shallow, so you’ll be up and running in no time!

Step 4: Create an account on Opensea

After you choose the marketplace, you’ll need to create an account with an NFT marketplace. Unlike cryptocurrency, you can buy NFTs without sharing personal details like your name, address, or government-issued ID with the marketplace. Signing up for an account is usually free, but if you want to purchase or bid for an NFT, you’ll need to connect your crypto wallet to the marketplace. There is usually a “CONNECT WALLET” in the upper right corner of the marketplace.

Step 5: Buy the first NFT

It’s time to get your first NFT! With OpenSea, you can choose the one you want and click “Buy Now.” A transaction will appear in your MetaMask wallet, and you have to confirm it. Make sure the price in the transaction matches the NFT’s. The transaction includes gas fees for the transaction itself. After confirming the transaction, your new NFT will appear in your account on OpenSea!

There you have it! You’ve just made your first NFT purchase. Now you can either keep it as a cherished collector’s item, or put it up for sale! Just click on the NFT in your collection, set the price you want to sell it for, and confirm the transaction in MetaMask.

Step 6: Mint an NFT

Another way to get an NFT is to mint one. As I said before, mint is the process when an NFT is being created and emerges on the blockchain. When an NFT project announces the mint date of the project, it’s a perfect opportunity to get an NFT directly from the creator and then sell it on the secondary market. To do this, you have to go to the website of the project, connect your wallet and click Mint.  

With a little bit of luck, you might make a profit!

But to be a truly successful trader, you’ll need to devise a good NFT trading strategy.

Bringing It All Together

There are many active NFT artists from Europe.

Yet, there are lots of hidden gems waiting to be discovered.

And the sole desire of this text is to show you how easy is to get into the world of NFTs.

You are a digital artist in Europe and you want to try something new?

Or you are a collector and you want to trade NFTs from Europe?

Well, don’t wait.

Set up a wallet, choose a marketplace that fits you best, and start creating or trading!

It can be hard to break through in the NFT market, as the competition is high.

But, if you are confident in what you do then you should give it a try. With a bit of luck, you can be the next famous artist from Europe.

NFTs can be a live-changing journey that you don’t want to miss!