Nft Marketing

opensea-review

OpenSea has grown to become one of the top markets for NFTs. It was the first to release such a platform throughout the years. It’s seen rapid growth since blockchain and NFT become more popular investments.

It’s also more well-known since celebrities and other famous people have expressed their enthusiasm. As art becomes more digitized, NFT becomes more lucrative.

If you’re planning to invest using NFTs, then starting from an appropriate marketplace can give you the leverage you need. This is why we wrote this review. OpenSea has always been the most popular NFT marketplace. But is it suitable for you?

Before you start our review, we’d like warn you. This review is an extensive read. If you prefer to watch a video instead, check out this channel’s review. They’ll guide users through OpenSea and its features to ensure that you understand everything before you jump in with NFT trading.

For those who prefer the written word, go through what it is prior to we look into its fees and what it has to offer.

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Before you continue, you may want to check out this video by The Social Guide on YouTube that gives a quick overview. After, you’ll want to read the rest of the article for a more comprehensive review of OpenSea.

What is OpenSea? Nft Marketing

OpenSea offers a market for non-fungible currency, also known as NFTs. Through their decentralized marketplace, users can purchase, sell, and trade NFTs with other users.

The available NFTs are not only limited to art, music games, or game products, as well as domain names.

It was founded in 2018 by Devin Finzer and Alex Atallah two programmers who began by helping facilitate the first generation of digital collectibles. It was also one of the first NFT marketplaces, a concept that is not as old as cryptocurrency.

It is now one of the largest NFT marketplaces. They have a vast collection of NFTs which is constantly growing. One of the best things about these is that they permit users to post NFTs bought or created elsewhere.

How does OpenSea function?

If you’ve previously been buying or selling with cryptocurrencies You’ll see NFT trading very similar to that.

For OpenSea The majority of the assets listed in this platform belong to users, not by the platform. Since they are a decentralized marketplace, they are equipped with intelligent contracts so that users can interact with potential buyers without putting at risk their NFT ownership.

This means that unless the transaction is completed, your digital assets won’t leave your wallet. In addition, you don’t have to open an account. All you have to do is possess a wallet that is compatible with web3.

If you’re a buyer you can use their search engine to search for NFTs that you’d like to buy. There are filters that can make your search easier.

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> > Click Here to Explore OpenSea’s Marketplace < <

What types of NFTs are available from OpenSea?

There are more than 200 varieties of NFTs you can purchase through OpenSea. Here are eight categories in which they typically fall into. Let’s examine each.

Music

Music may be one of the most well-known NFTs all time. It’s not restricted to songs only; you can also buy mixtapes, remixes, beats, vocals, or whatever an artist has to offer. Some even buy background noises like rain, indistinct chatters or various other sound effects.

Collectibles

Before NFTs were popular, a few individuals were interested in collecting items such as baseball cards, film props, and even the older technologies.

In the case of NFTs, you can collect avatars and digital pet and other characters that can be sold or acquired. The rarer they are the more value they will have. There are also variants such as Nyan Cat and CryptoPunks.

Art

Art has always been one of the most popular NFT, even before NFT came to be. In the present you can create digital artworks. This isn’t just limited to illustrations and digital paintings. Gifs can be collected as well images, photos, or short video clips.

Trading Cards

You can also collect digital trading cards, such as those from Sorare as well as BCCG.

Sports

Digital items related to sports are also available, like animated logos of teams.

Virtual Worlds

VR environments and components are now available for purchase. You can purchase these metaverses and other things such as game items and the VR environment characters, virtual objects and even virtual land. A well-known illustration is Axie Infinity.

Utility

As absurd as it may sound, you can also buy NFTs that are specifically designed to perform certain functions. Examples are from Emblem Finance and Urbit ID.

Domain Names

Websites are now considered to be NFT. You can buy blockchain-based names which aren’t subjected to shutting down by anyone. These types are also censorship-resistant.

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> > Click Here to Explore OpenSea’s Marketplace < <

What are the selling options?

Selling your products on OpenSea is simple. All you have to do is to list them in the marketplace. All you need to do is to ensure your wallet is connected. Once you’ve added the price and type of auction then you’re all set.

If you are a first-time seller, you will be subjected to a one-time gas fee.

At present, you can select from 5 selling options. They are:

Fixed Price

The seller is the one to pay the cost for the NFT. As the name implies it is not subject to change.

Dutch Auction

For an auction like the Dutch Auction, the seller determines a price that will fluctuate in the course of. Sellers typically set up very high prices. As time passes, it will lower until it becomes comparable to the price the buyer is willing to pay. Furthermore, the buyer may submit an offer. The NFT can be sold once they agree on a price.

English Auction

The seller will put up an NFT for sale and will list a minimum price. This is different from that of the Dutch Auction, where the price drops with time. In the English Auction, buyers will make bids until the seller is able to sell it to the highest bidder.

OpenSea will automatically accept the transaction in the event that the auction is over 1 Etherium.

NFT Creation

You can also mint your own NFTs through the platform. They can be sold in the marketplace.

Bundles

If you’re looking to sell several NFTs within one transaction, it is possible to utilize the bundle features of OpenSea. 30 items are available within the package.

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> > Click Here to Explore OpenSea’s Marketplace < <

Are there any additional fees?

It’s normal for crypto or NFT exchanges to charge charges to use the platform. While the fee charged varies according to the platform, it’s generally a percentage of the sale cost paid by the buyer. Similar to how regular art galleries generate income by getting a share of the artworks sold.

With OpenSea, you will only need to pay 2.5 percent when you buy an NFT. There are no listing fees or other types of surcharges involved. Other marketplaces charge you a 5% per sale, making OpenSea’s 2.5 percent fee reasonable.

However, you must be aware that certain NFTs have higher transaction charges as compared to other. This can vary between each seller. Some artists can also have an additional commission in addition to or of the required 2.5 percentage.

Furthermore, transactions to Etheruem is costly. Your NFT collection will be created as a valid non-fungible token following the time your NFT bid has been accepted. The price for this process will be based on the market, but you can expect it to be about $100 per NFT.

It is also important to be aware that some NFTs have extra commissions. For instance, game designers get 15 percent or more commissions for items they’ve sold.

What are the payment options?

OpenSea cannot accept conventional currencies like US Dollar or Euros. You’ll need to set up your crypto wallet. This is where you’ll convert the cryptocurrencies to cash. This means that you can’t make use of PayPal credit, debit, or debit cards to pay for or make a deposit. Nft Marketing

The NFTs can only be bought or sold only if the cryptocurrency you’re using is supported by OpenSea. Here’s a list of the blockchains and wallets that they support.

Blockchains Supported by OpenSea

Wallets Supported by OpenSea

  • Portis
  • Fortmatic/Magic
  • MetaMask
  • Arkane
  • Coinbase
  • WalletLink
  • TrustWallet
  • Dapper
  • Torus
  • Authereum
  • OperaTouch
  • Bitski
  • WalletConnect
  • Kaikas

What are the pros and cons?

Let’s take a look at the advantages and disadvantages when using OpenSea.

Pros

OpenSea can be decentralized making transactions secure and virtually impossible to be swindled. Additionally, it is possible to invest with NFTs even if there is no any experience or expertise in blockchain technology or programming. Nft Marketing

They also offer several types of digital asset, which makes them one of the largest NFT marketplaces. The platform’s low costs are also a great way for you to earn more income.

Cons

Although it is open source and has one of the most diverse NFT collection, the service still has its limitations. OpenSea only accepts crypto as a form of payment. Since there is no support for fiat currencies, it cannot support transactions using currencies such as USD or Euros.

It is also necessary to set up your own crypto wallet to either sell or buy from the platform.

Bottom Line

Like cryptocurrencies, NFTs have been growing over the years. It’s very creative and sounds strange, which is what makes it captivating for people. OpenSea provides an NFT marketplace that can be a service to a wide range of NFTs. There are more categories that can be included as the market becomes more integrated with the decentralized finance.

The OpenSea ecosystem allows users to make transactions without having to worry about privacy or security. Additionally, it doesn’t charge you high fees. A 2.5 percentage charge on your sales seems acceptable, given that some online stores can charge as high as 5 percent.

All in all, OpenSea is an excellent marketplace, both for NFT traders and professionals.

crypto-coins

> > Click Here to Explore OpenSea’s Marketplace < <

FAQ Nft Marketing

What do I need so I can utilize OpenSea?

OpenSea offers a mobile and desktop browser you can use. When you’re using the browser through your phone on the go, your browsers must be compatible with Etherium. Additionally, you should have an account with a wallet or extension. Also, it needs to be fully charged to begin.

Does OpenSea has a support team?

Yes, they have a support staff that you can contact through the contact page. Go to the official site and look at “Submit a request.”

Can you earn money at OpenSea?

You can also mint at OpenSea. All you have be able to do is make an NFT and add an item in your inventory. Once you’re ready to sell the items, post them for auction. This is a simple and low-cost method, but you can also look over their instructional videos.

What are gas fees?

These are transactions charges that are charged by Etherium. Gas fees are charged for transferring crypt to another wallet. Etherium is a one-time fee and periodic fees. Prices are determined in accordance with the current market conditions, which means they change every now and then.

What are the requirements I must meet before I can make use of OpenSea?

OpenSea offers a mobile and desktop browser you can utilize. When you’re using the browser with your mobile phone, your browsers should work with Etherium. Also, you’ll need a wallet or a wallet extension. Additionally, it should be topped up for you to get started.

Does OpenSea have a support staff?

Yes they have a customer support team that you can reach via their contact form. Visit the official site and search at “Submit a request.”

Are you able to mint at OpenSea?

You can make a mint using OpenSea. All you need be able to do is make an NFT and then add it to the collection. If you’re ready for selling them, list them for auction. This is gas-free and easy but you could also look over their instructional videos.

What are the gas prices?

The gas fees refer to transaction fees from Etherium. The gas fee is charged when you transfer crypt funds to another wallet. Etherium offers one-time fees as well as recurring fees. Prices are determined through the marketplace, which means they constantly change from time to time.

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> > Click Here to Explore OpenSea’s Marketplace < <

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