The Best Ways to Generate Passive Income with Digital Art
furt.money
furt.money

The Best Ways to Generate Passive Income with Digital Art

Digital art has opened up a new world of possibilities for artists looking to monetize their creative output. Unlike traditional art forms, digital art allows for the creation of multiple copies of the same work, which can be sold over and over again. This makes it an ideal medium for generating passive income. In this blog, we will explore some of the best ways to generate passive income with digital art.

Sell digital downloads on online marketplaces

Image of two cards, one saying “BUY” and the other says “SELL”
Image of two cards, one saying “BUY” and the other says “SELL”
Online marketplaces such as Etsy, Redbubble, Society6, and Creative Market allow artists to sell their digital art as downloadable files. This means that once the artwork is uploaded to the platform, it can be sold an unlimited number of times without any additional work from the artist. The artist can set their own prices and receive a percentage of the sale price.
These would be the steps in most of the platforms:

Choose a platform

There are several online marketplaces where digital artists can sell their artwork as downloadable files, including Etsy, Redbubble, Society6, and Creative Market. Choose a platform that best fits your needs and target audience.

Create and upload your digital artwork

Create high-quality digital artwork in a file format that's compatible with the platform you've chosen. This could be a JPG, PNG, or PDF file, depending on the platform. Make sure your artwork meets the platform's quality standards and that you have the necessary rights and permissions to sell it.

Set your prices and terms

Decide on a price for your artwork and any other terms and conditions you want to set, such as the number of downloads allowed or the use restrictions. You may want to offer different pricing options for different sizes or resolutions of your artwork.

Promote your artwork

Once your artwork is uploaded and available for sale, promote it through your social media channels, your website, or other marketing channels to attract potential buyers. Consider using keywords and tags to help your artwork appear in search results.

Receive payments and deliver downloads

When a buyer purchases your digital artwork, the platform will handle the payment processing and deliver the download link to the buyer. You'll receive a percentage of the sale price, which varies depending on the platform and the terms you've set.
Selling digital downloads on online marketplaces is a relatively low-effort way to generate passive income, as once your artwork is uploaded and available for sale, the platform handles the payment processing and download delivery. However, it's important to keep in mind that there may be competition from other artists on the platform, and you'll need to actively promote your artwork to attract buyers.

Sell prints on demand

Digital Prints of arts
Digital Prints of arts
Another way to generate passive income with digital art is by selling prints on demand. This involves uploading your digital art to a print-on-demand service like Printful or Printify, which will then produce and ship the prints directly to customers who place orders. The artist can set their own prices and receive a percentage of the sale price, with the print-on-demand service taking care of all the printing, packaging, and shipping.

Choose a print-on-demand service

There are several print-on-demand services that allow digital artists to sell their artwork as prints, including Printful, Printify, and Fine Art America. Choose a service that best fits your needs and target audience.

Create and upload your digital artwork

Create high-quality digital artwork in a file format that's compatible with the print-on-demand service you've chosen. This could be a JPG, PNG, or PSD file, depending on the service. Make sure your artwork meets the service's quality standards and that you have the necessary rights and permissions to sell it.

Choose your products

Decide on the types of products you want to offer, such as canvas prints, framed prints, or posters. Some print-on-demand services may also offer other products, such as mugs, t-shirts, or phone cases.

Set your prices and terms

Set your prices for each product and any other terms and conditions you want to set, such as the shipping costs or delivery times. You may want to offer different pricing options for different sizes or types of products.

Promote your artwork

Once your artwork is available for sale as prints, promote it through your social media channels, your website, or other marketing channels to attract potential buyers. Consider using keywords and tags to help your artwork appear in search results.

Receive payments and fulfill orders

When a buyer purchases a print of your artwork, the print-on-demand service will handle the payment processing and printing and shipping of the product to the buyer. You'll receive a percentage of the sale price, which varies depending on the service and the terms you've set.
Selling prints on demand is a low-effort way to generate passive income, as once your artwork is uploaded and available for sale, the print-on-demand service handles the printing, shipping, and payment processing. However, it's important to keep in mind that there may be competition from other artists on the service, and you'll need to actively promote your artwork to attract buyers. Additionally, you'll need to ensure that your artwork is of high quality and that it's formatted correctly for each product type.

Create and sell NFTs

Image of a collection of dice saying NFT
Image of a collection of dice saying NFT
Non-fungible tokens (NFTs) are a relatively new form of digital asset that allows artists to sell unique, one-of-a-kind digital art pieces. NFTs are essentially digital certificates of ownership that are stored on a blockchain, providing a secure and transparent way for artists to sell their work. NFTs can be sold through online marketplaces like OpenSea or through dedicated NFT marketplaces like SuperRare and Nifty Gateway.

Choose a blockchain platform

NFTs are created and sold on blockchain platforms, such as Ethereum or Binance Smart Chain. Choose a platform that best fits your needs and target audience.

Create and mint your NFT

Minting an NFT involves creating a digital file that represents your artwork and uploading it to the blockchain platform. You can choose to create a single NFT or multiple NFTs of the same artwork. The file can be in various formats, such as JPG, PNG, or GIF.

Set your prices and terms

Decide on a price for your NFT and any other terms and conditions you want to set, such as the number of editions or royalties for future sales. You can also choose to auction your NFTs, allowing buyers to bid on them.

Promote your NFTs

Once your NFTs are available for sale, promote them through your social media channels, your website, or other marketing channels to attract potential buyers. Consider using keywords and tags to help your NFTs appear in search results.

Receive payments and transfer ownership

When a buyer purchases your NFT, the blockchain platform will handle the payment processing and transfer ownership of the NFT to the buyer. You'll receive a percentage of the sale price, which varies depending on the platform and the terms you've set.
Creating and selling NFTs can be a high-risk, high-reward way to generate passive income. NFTs are a relatively new and volatile market, and the value of NFTs can fluctuate greatly. However, NFTs offer unique benefits, such as the ability to prove ownership and authenticity of digital artwork and the potential for future royalties. Additionally, creating and selling NFTs can help you build a community of collectors and fans of your artwork. It's important to research and understand the risks and benefits of creating and selling NFTs before diving in.

License your artwork for commercial use

Image of a copyright symbol of a company
Image of a copyright symbol of a company
Many businesses and brands are looking for high-quality digital artwork to use in their marketing materials, websites, and products. As a digital artist, you can license your artwork for commercial use and earn passive income from royalties. You can list your artwork on platforms like Shutterstock, Adobe Stock, or iStock and receive a percentage of the sale every time your artwork is licensed.
Here's how it works:

Create high-quality digital artwork

Create high-quality digital artwork in a file format that's compatible with the commercial use license you're offering. Make sure your artwork meets the quality standards of the industry you're targeting.

Choose a licensing platform

There are several online platforms that allow digital artists to license their artwork for commercial use, such as Shutterstock, Getty Images, and Adobe Stock. Choose a platform that best fits your needs and target audience.

Upload your artwork and set your terms

Upload your artwork to the licensing platform and set the terms and conditions of the license. You can choose to offer different types of licenses, such as exclusive or non-exclusive, and set the price for each type.

Promote your artwork

Once your artwork is available for licensing, promote it through your social media channels, your website, or other marketing channels to attract potential buyers. Consider using keywords and tags to help your artwork appear in search results.

Receive payments and track usage

When a buyer licenses your artwork for commercial use, the licensing platform will handle the payment processing and provide you with usage reports so you can track where and how your artwork is being used. You'll receive a percentage of the licensing fee, which varies depending on the platform and the terms you've set.
Licensing your artwork for commercial use can be a great way to generate passive income, especially if you have a large and high-quality portfolio of digital artwork. It's important to ensure that you have the necessary rights and permissions to license your artwork and that you're offering licenses that meet the needs of your target audience. Additionally, you'll need to actively promote your artwork to attract buyers and monitor usage to ensure that your artwork is being used appropriately.

Create and sell digital products

An example of a digital art
An example of a digital art
Digital products such as brushes, textures, and presets are in high demand among digital artists and designers. If you have expertise in a particular area of digital art, you can create and sell digital products that other artists can use in their own work. Platforms like Gumroad and Sellfy allow artists to sell digital products directly to their audience and earn passive income from every sale.
Here's how it works:

Choose a digital product to create

There are many different types of digital products that digital artists can create and sell, such as ebooks, online courses, stock graphics, and design templates. Choose a product that you have expertise in and that meets the needs of your target audience.

Create your digital product

Create your digital product in a file format that's compatible with the platform or marketplace you're planning to sell it on. Make sure your product meets the quality standards of the industry you're targeting.

Choose a platform or marketplace to sell your product

There are many different platforms and marketplaces that allow digital artists to sell their products, such as Etsy, Gumroad, and Teachable. Choose a platform that best fits your needs and target audience.

Set your prices and terms

Decide on a price for your digital product and any other terms and conditions you want to set, such as the number of licenses or access to updates. You can also choose to offer discounts or promotions to attract buyers.

Promote your digital product

Once your digital product is available for sale, promote it through your social media channels, your website, or other marketing channels to attract potential buyers. Consider using keywords and tags to help your product appear in search results.

Receive payments and deliver your product

When a buyer purchases your digital product, the platform or marketplace will handle the payment processing and deliver your product to the buyer. You'll receive a percentage of the sale price, which varies depending on the platform and the terms you've set.
Creating and selling digital products can be a great way to generate passive income, especially if you have expertise in a particular area and can create high-quality products that meet the needs of your target audience. It's important to ensure that you're offering products that are unique and valuable, and that you're pricing them appropriately. Additionally, you'll need to actively promote your products to attract buyers and deliver them in a timely and professional manner.

Conclusion

In conclusion, digital art offers a wide range of opportunities for generating passive income. By leveraging online marketplaces, print-on-demand services, NFTs, commercial licensing, and digital products, digital artists can turn their creative output into a steady stream of passive income. It's worth noting that these methods require time and effort to set up initially, but once they're up and running, they can provide a reliable source of income for years to come.

Related Posts

← View all posts
furt.money

About furt.money

Trying to simplify personal finance management and spread it out among others
Copyright © 2023 DecafDevs. All rights reserved.
Made by DecafDevs