3 good reasons to sell your NFT collection
Throughout time, art has proven to be one of the best investments. Of course, passionate collectors are motivated by their appreciation for art, rather than its monetary value. Considering this, selling artworks you own is probably not a priority. Holding on to valuable art pieces is at the essence of being an art collector.
While we know it’s never easy to let go of a beloved piece of art, sometimes it is the right thing to do. In this article we examine the rare occasions when selling artwork is what you might be looking to do.
When you want to buy a new artwork
Collecting artwork is a never-ending journey. Often, this means that you need to let go of one piece of art to acquire the next one. This is one of the best reasons to sell NFT artworks. While it’s never easy to let go of a valued piece of art, the endless opportunities for new additions to your collection sometimes require such bold moves.
NFTs are unique, immutable, and unchangeable, which means that selling your NFT artwork will transfer all ownership to the next collector. However, you always have the option of bidding to buy this same NFT later on if it goes up for sale again.
In this sense, NFTs make it even easier to have an ever-evolving artwork collection, as transferring ownership rights via blockchain happens in a matter of seconds. Parting with a favorite piece of art can be overwhelming, but sometimes, this is just the right thing to do.
When the artwork is too controversial
It’s no secret that artwork is always a controversial subject. Whether it be the artist's intent or not, art often stirs up arguments over what constitutes offensive and inappropriate content. However, this doesn't seem to apply to crypto-artists all that much.
Sometimes, artwork can cause unnecessary or unwanted attention towards your collection, which is why a good solution would be to sell this piece. Interestingly, more often than not, controversial pieces that might be a burden for one are actually a treasure for someone else. In this sense, don’t despair if you find a piece in your collection does not align with your moral compass. You always have the option to sell it, and if the piece has caused a big controversy, there are bound to be collectors ready to pay exorbitant amounts just to have that piece.
Imagine you are Ja Rule, one of the main figures behind the organization of Fyre - the most controversial festival ever announced. After the spectacular flop Fyre festival turned out to be, Ja Rule wanted to get rid of all remnants of this failure. He decided to mint the Fyre logo as an NFT and sell it.
This brings us to the next scenario in which collectors would be more than inclined to sell an NFT from their collection.
When you want to be present on a marketplace
Minty.Art is an online platform offering a decentralized marketplace to both artists and collectors. What this means is, sales of artwork happen without the intervention of an intermediary. Artists can price their work according to their own understanding of its worth, without the influence of auction house managers and art dealers.
This bid mechanism allows for bidding competitions to happen, thus some pieces might see their price skyrocket in a matter of seconds. Wouldn’t you be tempted to sell an NFT in this case? If someone is determined to purchase that NFT from you, it’s your responsibility to price it fairly. If someone is willing to pay several times more for it, this is a great reason to sell.
If you are looking for a place to buy or sell NFT artwork, check out Minty.Art’s marketplace.