How to use NFTs to raise money?

Could you elaborate on the process of utilizing NFTs, or non-fungible tokens, as a means of fundraising? How do creators and artists typically go about minting and selling these unique digital assets to attract investors and generate revenue? Are there any specific platforms or marketplaces that are popular for this purpose? Additionally, what are some of the potential risks and challenges that individuals or organizations may face when attempting to raise funds through NFTs?