Brokers 8ear it all! Secondary Sales on the Blockchain!
NFTs Moving to Second Base!
Secondary Markets 8ear !
Retail marketing, flipping and the wholesale of products are part of the logistics of everyday business. The Blockchain affords the same opportunities for a secondary market to make profits between the purchase price of a NFT and the sale price leaving you your spread minus fees. Entrepreneurs and industry workers utilize these strategies, and they can be commonly found from online stores to commercial/residential real estate transactions. It is truly amazing that we are at an area where artist can add an additional layer of protection for their creative assets and opportunities to generate revenue via their craft.
The secondary market strategy is one that can be employed and added to the repertoire. What the Blockchain offers for investors and artist, an embedded royalty percentage in the agreement of the smart contract when minting. As the NFT becomes registered on the Blockchain ledger, the royalties set will allow an artist and creators to receive payments from current and future sales. This is monumental, as this allows artist and investors to be compensated for their registered works. Some platforms offer a copyright when minting NFT’s. That being said the profits generated from the sale spread of the purchase and new sale price, causes a winning situation for all parties. Minting NFT art and projects with or without utility has trading value. As art alone, the sales history created and volume of sales on the Blockchain allows the artist and NFT project creators to benefit continuously. Increasing value on the company or artist that is in it for the long haul or a one and done profitable project.
A two-pronged attack would be to utilize gifts and brokers!
Activities on social media such as “Giveaways” are a great tool for marketing and getting your art moving into wallets! Engagement with the community is vital, and so is the exchange of ideas and NFTs. Whether the new owner keeps it or sells it the difference is, the agreement in the smart contract with royalty fee’s when you minted. When a sale happens, the owner receives cryptocurrency payments, along with a percentage (royalty fee) to the creators.
Good Art brokers are important in the efficiency and ease of business when it comes to secondary sales. A simple concept, having salespeople with passion for art and the gift of gab may not be a bad idea. A good broker is a consultant that attempts to solve all problems on the table in order to complete a sale of the product. Simply a salesman on the Blockchain who loves NFTs!
When a sale happens on a NFT platform like OpenSea, the largest NFT marketplace, objkt.com | The largest NFT marketplace on Tezos or Foundation for instance. The NFT transferred to the new owner and the creator/artist is paid. When that owner sells, you will get a notification of your royalty payment every time! Make sure you set that percentage 8ear!
Happy Hunting! 🧭 Blockchain Explorers 🧭
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