What is NFT Meme?
The invention of the internet and social media platforms has made memes very popular. Whereas most people think of memes as funny videos, images, or GIFs, they can also be behaviors, spoken phrases, ideas, or fashion styles in the real world.
So, can a meme be an NFT?
Creators of viral internet memes have experienced one great challenge: How to monetize their image rights after the image has circulated the internet as a meme for free.
To overcome the above challenge, people with ownership rights to internet memes are selling their memes as NFTs. Popular memes have been sold for huge prices.
NFTs (Non-Fungible Tokens) don’t grant copyright ownership over an asset, but they provide artists with a way to make money from their work. Thus, NFT memes can be a good way to make money.
NFT memes are a good way for professional photographers to make money from their work. For example, Jeff McCurry, a professional photographer, took the viral photos of Harambe the gorilla which was later minted into an NFT meme.
Next, we will discuss how to sell a meme NFT.
How to Sell a Meme NFT
Before selling an NFT meme, you should first create it. Below are the steps on how to create an NFT meme:
Step 1: Choose the digital file to list as an NFT meme
You can create your meme and list it for sale as an NFT meme on any marketplace. The file can be a JPEG, MP3, GIF, or any other format.
Step 2: Set up an Ethereum Wallet
You will need cryptocurrency to create an NFT meme on any NFT marketplace. The cryptocurrency will help you to pay the fees charged by the marketplace. Most marketplaces accept Ethereum payments, so create an Ethereum wallet. Proceeds from your NFT meme sales will also be stored in the same wallet. Examples of popular Ethereum wallets include Meta Mask, Rainbow, and Coinbase.
Step 3: Fund your Ethereum Wallet
You should have some Ethereum in your wallet. You can buy it from cryptocurrency exchanges like Coinbase, Binance, and CoinMarketCap and transfer it to the wallet. The tokens will help you to pay the marketplace fees for listing your NFT meme.
Step 4: Choose an NFT Marketplace
NFT memes are minted on NFT marketplaces. There are many NFT marketplaces that you can choose from, for example, OpenSea, Rarible, SuperRare, and Foundation. Select an NFT marketplace of choice and signup for an account. You can then connect your Ethereum wallet to the marketplace.
Step 5: List your Digital File as an NFT Meme
Now that everything is ready, it’s time to turn your digital file into an NFT meme. Most NFT marketplaces have the “Create” button that you can click to start creating an NFT. The NFT marketplace will require you to upload the digital file to be turned into an NFT meme. You will also be prompted to give the NFT meme a title and a description. Make sure that these communicate the purpose of the NFT meme.
The NFT marketplace will also require you to set the price of the NFT meme. You can set a fixed price or choose the auction style. For a fixed price, the NFT meme will be sold for the price that you specify. For the auction-style, you will receive bids from different potential buyers. The highest bidder will become the new owner of the NFT meme.
Best NFT Memes
Below are some of the NFT memes that have sold very well:
#1: Nyan Cat NFT
This NFT meme was created by Chris Torres in 2011. Initially, it was a YouTube video that was later turned into images and GIFs. The NFT meme featured an animated cat and Japanese pop music.
The meme NFT sold for 300 ETH on Foundation, which was equivalent to $590,000 then.
#2: Success Kid NFT
This is a feel-good NFT meme. It shows an 11-month-old baby staring at the camera and fist-pumping.
The Obama administration used it to promote immigration reform. The meme NFT sold for 15 ETH on Foundation, which was equivalent to $51,841 at that time.
Also called Shiba Inu, the NFT screenshot meme featured a picture of a dog with a comic sans text written at its top.
The NFT meme was created to demonstrate the process of creating an NFT on the EOS blockchain.
#4: Charlie Bit My Finger NFT
This has been one of the greatest clips on the internet. It features two British siblings named, Harry and Charlie, aged 3 and 1 seated and watching TV. Harry then puts his finger in Charlie’s mouth, who clamps down, causing a yelp from Harry.
The NFT meme was sold through an online auction for $760,999 in May last year. The original video had almost a billion views on YouTube before its removal.