How to convert NFT to money?

Could you elaborate on the process of converting Non-Fungible Tokens (NFTs) into monetary value? I'm particularly interested in understanding the steps required to achieve this conversion, whether it's through direct sales on marketplaces, auctions, or other means. Additionally, I'd like to know about the factors that determine the value of an NFT and how they contribute to its conversion potential. Are there any tips or strategies that one should consider while attempting to monetize their NFTs?