OpenSea is now one of the top platforms for NFTs. It’s also the first to launch a platform like this throughout the years. It’s seen rapid growth as blockchain and NFT are becoming more sought-after investments.
It’s even more popular since celebrities and celebrities have expressed an curiosity. As art is increasingly digitalized, NFT becomes more lucrative.
If you’re planning to invest with NFTs and want to start from a good marketplace can help you get the leverage you need. This is why we wrote this review – OpenSea has been for a long time the most popular NFT marketplace. But is it the right choice for you?
Before you start, we’d like to warn you. This review is an extensive read. If you prefer to take a look at videos instead, you can check out this channel’s review. They’ll walk the user through OpenSea and its features to ensure that you understand everything before you dive into NFT trading.
If you prefer reading, we’ll go over what it is before we go over the costs and the benefits it offers.
Before you go on, you may want to watch this video by The Social Guide on YouTube that gives a quick overview. Afterward, you will want to read the rest of our article for a more comprehensive review.
What is OpenSea? OpenSea Nft Come Funziona
OpenSea is a marketplace that deals in non-fungible tokens, also referred to as NFTs. Through their decentralized marketplace, users can purchase, sell, and trade NFTs with other users.
The NFTs available are not restricted to art, music game items, domain names.
It was founded in 2018 with the help of Devin Finzer and Alex Atallah two programmers who began with the introduction of the first generation of digital collectible items. It was also among the first NFT marketplaces which is not as old as cryptocurrency.
It is now one of the biggest 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 list NFTs purchased or made elsewhere.
What is the process behind OpenSea work?
If you’ve ever been trading or buying cryptocurrencies and NFT, you’ll notice NFT trading very similar to that.
For OpenSea, all of the assets on the platform are owned by users, not the platform. Since they’re a decentralized marketplace, they are equipped with intelligent contracts so that users can interact with potential buyers without having to risk losing their NFT ownership.
If the transaction is completed your digital assets will never leave your account. Furthermore, you’re not required to open an account. All you need is to have a web3 supported wallet.
In the event that you’re buying you can use their browser to look for NFTs you’d prefer to purchase. They also have filters available to simplify your search.
> > Click Here to Explore OpenSea’s Marketplace < <
What types of NFTs are available to purchase from OpenSea?
There are around 200 kinds of NFTs you can buy from OpenSea. Here are eight categories in which they typically fall into. Let’s review of each.
Music
Music is among the most popular NFTs of all time. It’s not restricted to just songs; you can also buy mixtapes, remixes, beats, vocals or whatever the artist is offering. Many people even purchase background sounds like rain, indistinct chatters, or other types of sound effects.
Collectibles
Even before NFTs became popular, there were people were investing in collectibles like baseball cards, movie props, or even the older technologies.
In the case of NFTs, it is possible to collect avatars and digital pet and other characters that can be sold or acquired. The rarer they are, the more value they possess. There are also variants such as Nyan Cat and CryptoPunks.
Art
Art has always been one of the most sought-after NFT since before NFT became a reality. In the present you can do the same with digital artworks. It’s not just limited to illustrations and digital paintings. You can also collect gifs images, photos, or small video clip clips.
Trading Cards
There is also the possibility of collecting digital trading cards such as those from Sorare as well as BCCG.
Sports
Digital items related to sports can also be collected, for example, animated team logos.
Virtual Worlds
VR spaces and elements are now available for purchase. It is possible to purchase these metaverses or other things such as game items and the VR environment characters, virtual objects or even virtual worlds. A well-known instance is Axie Infinity.
Utility
As bizarre as it may sound, you can also buy NFTs with specific features. Examples come from Emblem Finance and Urbit ID.
Domain Names
Websites are now classified as NFT. It is possible to purchase blockchain-based domains that aren’t subject to being shut down by any person. These types are also censorship-resistant.
> > 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 on the marketplace. It’s all you have to do is ensure that your wallet is connected. Once you’ve added your price and type of auction, you’re good to go.
If you are a first-time seller you will be subject to a one-time fee for gas.
You can currently select among five selling options. These are:
Fixed Price
The seller is the one to charge the price that is the NFT. Like the name suggests, it never changes.
Dutch Auction
For Dutch Auctions, also known as Dutch Auction, the seller determines a price that will fall over time. Sellers generally set high prices. With time, the value will lower until it becomes equivalent to the bid of the buyer. Furthermore, the buyer may present an offer. The NFT can be sold once they reach an agreement on the price.
English Auction
The seller will put up an NFT to sell and list an amount that is a minimum. It’s opposite to that of the Dutch Auction, where the price will decrease over time. In the English Auction, buyers will bid until the seller sells the auction for the most expensive bidder.
OpenSea is able to automatically approve the payment when the auction closes above 1 Etherium.
NFT Creation
You can also create your own NFTs using the platform. Then you can sell them on the marketplace.
Bundles
If you’re looking to sell multiple NFTs under one transaction, you can make use of the bundle feature offered by OpenSea. 30 items can be listed within the package.
> > Click Here to Explore OpenSea’s Marketplace < <
Are there any fees?
It’s normal for crypto or NFT marketplaces to charge fees to access the platform. The fee is charged can vary according to the platform, it’s generally proportional to the cost paid by the buyer. It’s similar to how regular art galleries generate income by gaining a percentage of the paintings sold.
With OpenSea, you will only have to pay 2.5 percent when you buy an NFT. There are no listing costs and other types of surcharges involved. Other marketplaces charge percentage of 5% for each sale, which makes OpenSea’s 2.5 percent fee competitive.
However, you have to be aware that certain NFTs charge higher transaction costs compared to others. It is possible for this to differ between seller. Some artists can also have an additional sales commission apart from the imposed 2.5 percentage.
Furthermore, transactions to Etheruem is costly. The 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 anticipate that it will be about $100 per NFT.
Also, you should know that certain NFTs earn additional commissions. For example, game developers receive 15 percent or more as commissions for items they’ve sold.
What are the payment options?
OpenSea is not able to accept conventional currencies such as US Dollar or Euros. You will need to create your crypto wallet, where you’ll convert the cryptocurrencies to cash. That also means you cannot use PayPal, credit, or debit cards for payment for or make a deposit. OpenSea Nft Come Funziona
The NFTs can be purchased or sold when your cryptocurrency is accepted by OpenSea. Here’s a list of the cryptocurrency wallets and blockchains that they support.
Blockchains Supported by OpenSea
- Klatyn
- Ethereum
- Polygon
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 examine the advantages and disadvantages when using OpenSea.
Pros
OpenSea has no centralization, which makes transactions safe and nearly impossible to be swindled. Furthermore, it is easy to invest in NFTs, even if there is no any experience or expertise in blockchain or coding. OpenSea Nft Come Funziona
They also provide a variety of digital currency, making it one of the biggest NFT marketplaces. The low platform costs are also a great method to earn more income.
Cons
While it is decentralized and offers one of the most diverse NFT collection, the service has some limitations. OpenSea only accepts cryptocurrency as a payment. Since there is no support for fiat currencies and no support for payments using currency like USD or Euros.
Additionally, you will need to establish a crypto wallet to sell or buy from the platform.
Bottom Line
Just like cryptocurrencies NFTs have also been growing over the years. It’s extremely creative and unusual, but that’s the reason it is so appealing to people. OpenSea is an NFT marketplace that can cater to a broad range of NFTs. More categories can be involved as the market becomes more integrated with decentralized finance.
The OpenSea ecosystem allows customers to conduct transactions without concern about security and privacy. Additionally, it doesn’t charge users high fees. A 2.5 percentage cost on your sales appears reasonableconsidering that some marketplaces may charge as much as five percent.
In the end, OpenSea is an excellent marketplace, both for NFT traders who are just beginning their trading or for professionals.
> > Click Here to Explore OpenSea’s Marketplace < <
FAQ OpenSea Nft Come Funziona
What do I need so I can use OpenSea?
OpenSea offers a mobile and desktop browser you can utilize. In the event that you’re trying it with your mobile phone, the browsers should be compatible with Etherium. Also, you’ll need an account with a wallet or extension. In addition, it must be fully charged to get started.
Does OpenSea has a support team?
Yes they do have a support team that can be reached via its contact forms. Go to the official site and look on the page for “Submit a request.”
Are you able to mint at OpenSea?
You can mint at OpenSea. All you have make is to create an NFT and add it to the collection. Once you’re ready to sell them, list them for auction. This is a simple and low-cost method, but you can also check out their tutorials.
What are gas fees?
The gas fees refer to transaction costs that are charged by Etherium. You pay a gas fee when you transfer crypt to another wallet. Etherium is a one-time fee and recurring fees. The prices are driven by the market, therefore they fluctuate every now and then.
What do I need to know so I can use OpenSea?
OpenSea offers a mobile and desktop browser that users can use. In the event that you’re using it with your mobile phone, the browsers should be compatible with Etherium. Additionally, you should have either a wallet, or an extension. In addition, it must be fully charged to get started.
Does OpenSea has a support team?
Yes, they have a support team that you can contact through its contact forms. Just go to their website, and look at “Submit a request.”
Can you earn money at OpenSea?
You can mint at OpenSea. All you need make is to create an NFT and then add it to the collection. Once you’re ready to sell them, list them for auction. This is gas-free and easy, but you can also go through their tutorials.
What are the gas prices?
These are transactions charges from Etherium. Gas fees are charged when you transfer crypt to another wallet. Etherium is a one-time fee and recurring fees. Prices are determined by the market, so they fluctuate at regular intervals.
