OpenSea Beeple

opensea-review

OpenSea has grown to become one of the top markets for NFTs. It’s also the first one to launch a platform like this 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 an curiosity. As art becomes more digitalized, NFT becomes more lucrative.

If you’re looking to invest through NFTs, then starting from an established marketplace will help you get the leverage you need. This is why we wrote this review – OpenSea is always the top NFT marketplace. But is it suitable for you?

Before you go on our review, we’d like warn you. This review is quite an extensive read. If you prefer to take a look at a video instead, you can check out this channel’s review. They’ll guide you through OpenSea and its functions so you’re aware of everything before you dive into NFT trading.

If you like the written word, look over the basics before we look into its fees and what it has to offer.

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Before you go on, you may want to check out this video by The Social Guide on YouTube that gives a quick overview. Afterward, you will want to read the rest of the article for a more comprehensive review.

What is OpenSea? OpenSea Beeple

OpenSea provides a platform that deals in non-fungible tokens, also referred to as NFTs. Through their decentralized marketplace, users can purchase, sell NFTs, and trade them with other users.

The available NFTs are not limited to music, art, game items, and domain names.

It was created in the year 2018 in 2018 by Devin Finzer and Alex Atallah two programmers who began by facilitating the 1st generation of digital collectibles. It was also one of the first NFT marketplaces and a concept as new as cryptocurrencies.

Nowadays, it Is one of the biggest NFT marketplaces. They offer a wide selection of NFTs that only keeps expanding. The best part about these is that they permit users to sell NFTs bought or created elsewhere.

What is the process behind OpenSea work?

If you’ve been selling or buying with cryptocurrency You’ll see NFT trading very similar.

For OpenSea, all of the assets on this platform belong to users, not the platform. Since they’re an uncentralized marketplace, they have intelligent contracts so that users are able to interact with buyers without having to risk the security of their NFT ownership.

This means that unless the transaction is complete, your digital assets will never leave your wallet. In addition, you don’t have to create your account. All you need is to have a web3-enabled wallet.

If you’re a buyer, you can utilize their website to look for NFTs you’d like to purchase. They also have filters available to simplify your search.

OpenSea Beeple

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

What kinds of NFTs are available to purchase from OpenSea?

There are around 200 kinds of NFTs available to purchase from OpenSea. Here are 8 categories where they are typically placed. Let’s have a examine each.

Music

Music could be among the most popular NFTs of all time. It’s not restricted to songs only; you can also purchase mixtapes, remixes, beatsand vocals or whatever the artist offers. You can also purchase background noises such as rain, chatter that isn’t clear and other sound effects.

Collectibles

Even before NFTs became popular, there were individuals were interested in collecting items such as baseball cards film props, or older technology.

As for NFTs, you can gather avatars, digital pets and other characters that can be traded or acquired. The rarer they are the more value they will have. Some also have variants like Nyan Cat and CryptoPunks.

Art

Art is always one of the most sought-after NFT since before NFT came to be. As of today it is possible to do the same with digital artworks. This isn’t just limited to illustrations and digital paintings. It is also possible to collect gifs or images, as well as short video clips.

Trading Cards

You can also collect digital trading cards such as the ones from Sorare or BCCG.

Sports

The digital objects associated with sports are also available, for example, animated logos of teams.

Virtual Worlds

VR spaces and elements can be purchased. You can buy these metaverses or other things like game elements, the VR environment, virtual objects, characters and even virtual land. A well-known example could be Axie Infinity.

Utility

As far-fetched as it sounds it is possible to purchase NFTs that have specific functions. Examples are from Emblem Finance and Urbit ID.

Domain Names

Websites are now considered to be NFT. You can buy blockchain-based names that aren’t subject to shut down by any person. These types are also censorship-resistant.

bitcoin-coin

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

What are the selling options?

Selling on OpenSea is easy. All you have to do is post your products on the marketplace. All you need to do is to ensure that your account is linked. Once you’ve added the price and auction type, you’re good to go.

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

You can currently select among five selling options. They are:

Fixed Price

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

Dutch Auction

For Dutch Auctions, also known as Dutch Auction, the seller decides on a price which will fall over time. Sellers typically set up very expensive prices. As time passes, it will lower until it becomes comparable to the price the buyer is willing to pay. Additionally, the buyer can present an offer. The NFT can be sold when they have agreed on a price.

English Auction

The seller will put up an NFT for sale and lists the minimum price. This is in contrast to that of the Dutch Auction, where the price decreases as time passes. In the English Auction, buyers will make bids until the seller is able to sell the auction for the most expensive bidder.

OpenSea can automatically take over the payment if the auction ends above 1 Etherium.

NFT Creation

You can also create your own NFTs via the platform. Then you can sell them in the marketplace.

Bundles

If you want to sell multiple NFTs within one transaction, it is possible to make use of the bundle feature offered by OpenSea. 30 items can be included within the package.

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

Are there any charges?

It’s normal for crypto or NFT marketplaces to impose charges to use the platform. The fee is charged can vary according to the platform, it’s generally a percentage of the sale cost paid by the buyer. Similar to how regular galleries earn money by gaining a percentage of the paintings sold.

With OpenSea You will only have to pay 2.5% when you purchase an NFT. There are no listing costs and other types of surcharges involved. Other marketplaces charge you a 5percent commission per sale, making OpenSea’s 2.5% fee competitive.

But, it is important to understand that some NFTs charge higher transaction costs compared to others. This can vary between each seller. Certain artists also get an additional commission in addition to or from the standard 2.5%.

In addition, trading on Etheruem could be expensive. Your NFT collection will only be created as a valid token that is non-fungible following the time your NFT bid is accepted. The price for this process will be based on the market, but you can anticipate that it will be around $100 per NFT.

It is also important to be aware that some NFTs have additional commissions. For example, game developers receive 15 percent or more commissions for items they’ve sold.

What are the methods of payment?

OpenSea does not accept traditional currencies like US Dollar or Euros. You will need to create your crypto wallet. This is where you’ll be able to convert the cryptocurrency into cash. That also means you cannot use PayPal credit and debit card to make payments or deposit. OpenSea Beeple

The NFTs are only able to be purchased or traded only if the cryptocurrency you’re using is supported by OpenSea. Here’s a list of blockchains and wallets that they are able to 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 benefits and disadvantages of using OpenSea.

Pros

OpenSea is decentralized, making transactions secure and almost impossible to get scammed. Moreover, you can easily invest with NFTs even if there is no prior experience or know-how in blockchain technology or programming. OpenSea Beeple

They also provide a variety of digital assets, which makes it one of the most popular NFT marketplaces. Low platform costs are also a great way for you to make more money.

Cons

Although it’s open source and has one of the most diverse NFT collections, it has limitations. OpenSea only accepts cryptocurrency as a payment. With no support for fiat, it cannot support payments with currencies like USD or Euros.

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

Bottom Line

Similar to cryptocurrency NFTs are also growing over the years. It’s very creative and sounds unusual, but that’s the reason it is so appealing to people. OpenSea is an NFT marketplace that caters to a broad range of NFTs. There are more categories that can be included as the industry becomes integrated with financial decentralization.

The OpenSea ecosystem enables its customers to conduct transactions without concern about security and privacy. In addition, it doesn’t cost users high fees. A 2.5 percent charge on your sales seems acceptable, given that some online stores may charge as much as five percent.

All in all, OpenSea is an excellent marketplace both for NFT trading beginners or professionals.

crypto-coins

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

FAQ OpenSea Beeple

What are the requirements I must meet before I can utilize OpenSea?

OpenSea has a mobile and desktop browser users can utilize. If you’re using it through your phone on the go, your browsers should be compatible with Etherium. You also need to have a wallet or a wallet extension. Additionally, it should be topped up for you to start.

Does OpenSea has a support team?

Yes, they have a support team that you can reach via the contact page. Go to their official website and look for “Submit a request.”

Are you able to make money at OpenSea?

You can make a mint using OpenSea. All you need be able to do is make an NFT and add it to the collection. If you’re ready for selling the items, post them for auction. This is a simple and low-cost method, but you can also check out their tutorials.

What are gas fees?

Gas fees are transaction costs from Etherium. You pay a gas fee when you transfer crypt to another wallet. Etherium is a one-time fee and regular fees. Prices are determined by the market, so they change from time to time.

What are the requirements I must meet before I can utilize OpenSea?

OpenSea has a mobile and desktop browser that you can use. If you’re using it with your mobile phone, your browsers must be compatible with Etherium. Also, you’ll need an account with a wallet or extension. In addition, it must be topped up for you to begin.

Does OpenSea has a support team?

Yes, they have a support staff that you can contact through its contact forms. Just go to their official website and search for “Submit a request.”

Are you able to make money at OpenSea?

You can mint at OpenSea. All you need be able to do is make an NFT and add an item in your inventory. When you’re ready to sell the items, post them for sale. It’s easy and gas-free to do, however you should check out their tutorials.

What are gas fees?

These are transactions costs from Etherium. You pay a gas fee for transferring crypt to another wallet. Etherium has one-time fees and regular fees. Prices are determined in accordance with the current market conditions, so they fluctuate from time to time.

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

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