How do NFT artists receive payment for sold NFTs?

NFT artists receive payment for sold NFTs through a variety of methods. The most common way is through cryptocurrency, typically using Ethereum, which is the blockchain network on which most NFTs are created and traded. When an NFT is sold, the buyer transfers the agreed-upon amount of cryptocurrency directly to the artist's digital wallet. This transaction is recorded on the blockchain and is transparent for all to see. Additionally, some platforms or marketplaces may facilitate the payment process by automatically handling the transfer of funds between buyer and artist. It's important for NFT artists to have a digital wallet compatible with the blockchain network they are using so they can securely receive and store their earnings.

This mind map was published on 7 August 2023 and has been viewed 117 times.