OpenSea White-Label

opensea-review

OpenSea has grown to become one of the top marketplaces for NFTs. It’s also the first one to introduce a platform of this kind over the years. It has experienced rapid growth since blockchain and NFT become more popular investments.

It’s becoming more popular because celebrities and celebrities have expressed enthusiasm. As art becomes more digitalized, NFT becomes more lucrative.

If you’re looking to invest with NFTs, then starting from a good marketplace can give you the leverage you need. This is why we wrote this review – OpenSea has been for a long time the top NFT marketplace. But is it the right choice for you?

Before you begin our review, we’d like warn you. This review is lengthy. If you prefer to take a look at a video instead, check out the channel’s review. They’ll walk the user through OpenSea and its features to ensure you’re aware of everything before you jump in with NFT trading.

For those who prefer to read, let’s go through what it is prior to we examine its costs and the benefits it offers.

opensea-logo

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 the article for a more comprehensive review of OpenSea.

What is OpenSea? OpenSea White-Label

OpenSea offers a market that deals in non-fungible currency, also known as NFTs. Through their decentralized marketplace, you can buy, sell NFTs, and trade them with other users.

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

It was established in the year 2018 in 2018 by Devin Finzer and Alex Atallah Two programmers who got started by helping facilitate the first generation of digital collectibles. It was also among the first NFT marketplaces, a concept that is similar to cryptocurrency.

It is now one of the largest NFT marketplaces. They offer a wide selection of NFTs which is constantly expanding. The most appealing aspect of these is that they permit users to sell NFTs that were purchased or developed elsewhere.

How does OpenSea operate?

If you’ve previously been trading or buying cryptocurrencies, you’ll find NFT trading very similar to that.

For OpenSea All of the assets on this platform belong to the users, not the platform. Since they are an uncentralized marketplace, they are equipped with smart contracts that allow users can interact with potential buyers without risking the security of their NFT ownership.

This means that unless the transaction is completed your digital assets won’t leave your account. 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 browser to find NFTs you’d like to buy. They also offer filters to aid in your search.

OpenSea White-Label

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

What types of NFTs can you purchase from OpenSea?

There are about 200 types of NFTs available to purchase through OpenSea. Here are 8 categories where they are typically placed. Let’s have a look at each.

Music

Music may be one of the most popular NFTs of all time. It’s not just limited to just songs; you can also purchase mixtapes, remixes, beats, vocals, or whatever an artist is offering. Some even buy background noises such as rain, chatter that isn’t clear or various other sound effects.

Collectibles

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

As for NFTs, it is possible to collect avatars and digital pet, or any other characters that could be traded or collected. The more rare they are, the more value they will be. They also have variations like Nyan Cat and CryptoPunks.

Art

Art has always been one of the most popular NFT prior to when NFT became a reality. Today, you can also create digital art. It’s not just limited to illustrations and digital paintings. You can also collect gifs or images, as well as small video clip clips.

Trading Cards

There is also the possibility of collecting digital trading cards, such as those of Sorare as well as BCCG.

Sports

The digital objects associated with sports can also be collected, such as animated logos of teams.

Virtual Worlds

VR environments and components are now available for purchase. It is possible to purchase these metaverses or other things like game objects, the VR environment, virtual objects, characters, and even virtual land. A popular instance could be Axie Infinity.

Utility

As bizarre as it may sound, you can also buy NFTs that have specific capabilities. Examples include Emblem Finance and Urbit ID.

Domain Names

Websites are now classified as NFT. Names that are based on blockchain can be purchased that aren’t subject to being shut down from 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 simple. All you need to do is list your products on the marketplace. All you need to do is to make sure your account is linked. Once you’ve added your price and the type of auction then you’re all set.

For first-time sellers, you will be subjected to a single-use gas charge.

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

Fixed Price

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

Dutch Auction

For Dutch Auctions, also known as Dutch Auction, the seller determines a price that will decrease in the course of. Sellers generally set high prices. As time passes, it decreases until it’s comparable to the price the buyer is willing to pay. Furthermore, the buyer may present an offer. The NFT can be sold once they agree on a price.

English Auction

The seller is required to put up an NFT for sale and will list an amount that is a minimum. It’s opposite to auctions like the Dutch Auction, where the price drops with time. When it comes to the English Auction, buyers will bidding until the seller sells the auction at the price of highest bidding.

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

NFT Creation

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

Bundles

If you are looking to sell multiple NFTs under one transaction, you can use OpenSea’s bundle features. 30 items can be listed in the bundle.

crypto-trading

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

Are there any fees?

It is common for crypto or NFT exchanges to charge charges for using the platform. While the fee charged varies according to the platform, it’s generally an amount of the sales cost paid by the buyer. It’s similar to how regular art galleries generate income by getting a share of the artworks sold.

With OpenSea, you will only be charged 2.5 percent when purchasing an NFT. There are no listing costs and other types of surcharges involved. Other marketplaces charge 5percent commission per sale, which makes OpenSea’s 2.5% fee affordable.

However, you have to know that certain NFTs charge higher transaction costs as compared to other. The fees can differ for each seller. Certain artists also get an additional commission on sales, apart from the standard 2.5 percentage.

Additionally, transacting to Etheruem can be costly. Your NFT collection will be minted as a valid token that is non-fungible following the time your NFT bid has been accepted. The costs for the process will vary based on the market conditions, however you can anticipate that it will be in the range of $100 for each NFT.

Also, you should know that some NFTs charge extra commissions. For instance, game developers receive 15 percent or more as commissions for the items they’ve sold.

What are the payment options?

OpenSea is not able to accept conventional currencies such as US Dollar or Euros. It is necessary to set up 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 White-Label

The NFTs are only able to be purchased or sold only if the cryptocurrency you’re using is supported by OpenSea. Here’s a list of cryptocurrency wallets and blockchains 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 look at the advantages and drawbacks when using OpenSea.

Pros

OpenSea can be decentralized making transactions secure and almost impossible to be swindled. Furthermore, it is easy to invest in NFTs, even if you do not have any experience or expertise in blockchain or coding. OpenSea White-Label

They also offer a range of digital asset, which makes them one of the largest NFT marketplaces. Low platform fees are also an excellent opportunity to make more money.

Cons

While it is open source and has one of the largest NFT collection, the service has its limitations. OpenSea only accepts cryptocurrency as payment. Since there is no support for fiat currencies, it cannot support transactions using currencies such as USD or Euros.

You will also need to establish a crypto wallet to sell or buy from the platform.

Bottom Line

Similar to cryptocurrency, NFTs have been growing over the years. It’s extremely creative and strange, which is the reason it is so appealing to people. OpenSea provides an NFT marketplace that can cater to a broad range of NFTs. The number of categories available will increase as the industry becomes integrated with decentralized finance.

The OpenSea ecosystem allows customers to conduct transactions without concern about privacy or security. In addition, it doesn’t cost you high fees. A 2.5 percent cost on your sales appears acceptable, given that some online stores could charge as high as five percent.

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

crypto-coins

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

FAQ OpenSea White-Label

What do I need to know so I can make use of OpenSea?

OpenSea has a mobile and desktop browser that you can use. If you’re using it on your mobile phone, your browsers should be compatible with Etherium. Also, you’ll need either a wallet, or an extension. Additionally, it should be fully charged to get started.

Does OpenSea have a support staff?

Yes they have a customer support staff that can be reached via their contact form. Just go to their official website and look on the page for “Submit a request.”

Do you have the ability to make money at OpenSea?

You can mint at OpenSea. All you need be able to do is make an NFT and add it to the collection. If you’re ready for selling them, list them for sale. This is gas-free and easy to do, however you should look over their instructional videos.

What are the costs for gas?

The gas fees refer to transaction charges that are charged by Etherium. Gas fees are charged when you transfer crypt funds to another wallet. Etherium is a one-time fee and recurring fees. Prices are determined through the marketplace, therefore they constantly change from time to time.

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

OpenSea has a mobile and desktop browser that users can use. When you’re using the browser on your phone on the go, your browsers should be compatible with Etherium. You also need to have an account with a wallet or extension. In addition, it must be fully charged to begin.

Does OpenSea has a support team?

Yes, they have a support staff that you can reach through its contact forms. Visit their website, and look for “Submit a request.”

Can you mint at OpenSea?

You can mint at OpenSea. All you need to do is create an NFT and then add an item in your inventory. When you’re ready to sell them, put them up for sale. This is gas-free and easy but you could also look over their instructional videos.

What are gas fees?

Gas fees are transaction charges from Etherium. You pay a gas fee for transferring crypt to another wallet. Etherium offers one-time fees as well as regular fees. The price is determined through the marketplace, therefore they constantly change from time to time.

bitcoin-coins

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

OpenSea White Label

opensea-review

OpenSea is now one of the top markets for NFTs. It’s also the first to introduce a platform of this kind in the past. It’s seen rapid growth as blockchain and NFT have become increasingly sought-after investments.

It’s becoming more popular because celebrities and celebrities have expressed an interest. As art is increasingly digitalized, NFT becomes more lucrative.

If you’re looking to invest using NFTs and want to start from a good marketplace can provide the leverage you need. This is the reason we created this review – OpenSea is always the leading NFT marketplace. But is it the right choice for you?

Before you start this journey, we’d like to caution you. This review is quite an extensive read. If you prefer to take a look at a video instead, you can check out the channel’s review. They will guide you through OpenSea and its features to ensure you’re aware of everything before you dive into NFT trading.

For those who prefer reading, we’ll look through what it is prior to we go over the costs and what it can offer.

opensea-logo

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.

What is OpenSea? OpenSea White Label

OpenSea is a marketplace for non-fungible currency, also known as NFTs. Through their decentralized marketplace, you can buy, sell NFTs, and trade them 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 in 2018 by Devin Finzer and Alex Atallah two programmers who began by facilitating the 1st generation of digital collectible items. It was also one of the very first NFT marketplaces which is similar to cryptocurrency.

Today, it is 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 purchased or made elsewhere.

What is the process behind OpenSea work?

If you’ve previously been trading or buying cryptocurrencies, you’ll find NFT trading very similar.

For OpenSea All of the assets that are listed on the platform are owned by users, not the platform. Because they’re an uncentralized marketplace, they are equipped with smart contracts that allow users can interact with potential buyers without risking losing their NFT ownership.

This means that unless the transaction is complete, your digital assets will never be removed from your wallet. In addition, you don’t have to create your account. All you require is to have a web3 supported wallet.

In the event that you’re buying you can utilize their website to find NFTs you’d like to purchase. They also offer filters to make your search easier.

OpenSea White Label

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

What kinds of NFTs can you purchase from OpenSea?

There are around 200 kinds of NFTs you can purchase from OpenSea. There are eight categories to which they usually belong. Let’s examine each.

Music

Music is among the most well-known NFTs of all time. It’s not limited to just songs; you can also purchase mixtapes remixes, beats, vocals or anything else an artist offers. Many people even purchase background sounds such as rain, chatter that isn’t clear or various other sound effects.

Collectibles

Before NFTs became popular, there were people invested in collectibles like baseball cards, film props, and even old technology.

For NFTs, it is possible to collect avatars, virtual pets, or any other characters that could be sold or collected. The rarer they are the more value they have. Some also have variants like Nyan Cat and CryptoPunks.

Art

Art has always been one of the most popular NFT, even before NFT came to be. Today you can do the same with digital artworks. It’s not just limited to illustrations and digital paintings. It is also possible to collect gifs or images, as well as videos of short length.

Trading Cards

It is also possible to collect digital trading cards such as those from Sorare or BCCG.

Sports

Digital items related to sports can also be collected, for example, animated logos of teams.

Virtual Worlds

VR environments and components can be purchased. You can purchase these metaverses and other things like game objects, the VR environment, virtual objects, characters or even virtual lands. A well-known illustration is Axie Infinity.

Utility

As far-fetched as it sounds it is possible to purchase NFTs with specific features. Examples come from Emblem Finance and Urbit ID.

Domain Names

Websites can be 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 need to do is post them in the marketplace. All you need to do is to ensure your account is linked. Once you’ve added your price and auction type and you’re ready to go.

For the first time sellers who are first-time sellers, you will be subject to a one-time fee for gas.

Currently, you can choose from five options for selling. These are:

Fixed Price

The seller will be the one to pay the cost for the NFT. As the name implies, it never changes.

Dutch Auction

In Dutch Auctions, also known as Dutch Auction, the seller decides on a price which will decrease in time. Sellers usually set very high prices. As time passes, it will decrease until it is equivalent to the bid of the buyer. Additionally, the buyer can also make an offer to the seller. The NFT is sold after they reach an agreement on the price.

English Auction

The seller will put up an NFT for sale and will list a minimum price. This is in contrast to auctions like the Dutch Auction, where the price will decrease with time. When it comes to the English Auction, buyers will bidding until the seller sells it at the price of highest bidding.

OpenSea is able to automatically approve the transaction when the auction closes above 1 Etherium.

NFT Creation

You can also mint your own NFTs through the platform. You can then sell them in the marketplace.

Bundles

If you are looking to sell multiple NFTs in one transaction, it is possible to use OpenSea’s bundle features. 30 items are available in the bundle.

crypto-trading

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

Are there any additional fees?

It’s normal for crypto or NFT marketplaces to impose charges to use the platform. While the fee charged varies per platform, it’s usually proportional to the 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 fees or other kinds of charges. Other marketplaces charge 5% per sale, which makes OpenSea’s 2.5 per cent cost affordable.

However, you have to understand that some NFTs charge higher transaction costs as compared to other. It is possible for this to differ between seller. Certain artists may also receive an additional commission in addition to or of the required 2.5 percentage.

Additionally, transacting to Etheruem could be expensive. The NFT collection will be created as a valid token that is non-fungible following the time your NFT bid is accepted. The costs for the process will be based on the market conditions, however you can anticipate it to be in the range of $100 for each NFT.

Also, you should know that some NFTs charge extra commissions. For example, game developers are paid as much as 15% as commissions on the products they’ve sold.

What are the methods of payment?

OpenSea does not accept traditional currencies like US Dollar or Euros. It is necessary to set up your crypto wallet. This is where you’ll be able to convert the cryptocurrency into cash. Also, you are not able to make use of PayPal, credit, or debit cards to pay or make a deposit. OpenSea White Label

The NFTs are only able to be purchased or sold only if the cryptocurrency you’re using is accepted by OpenSea. Here’s a list of blockchains and wallets that they can 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 examine the advantages and drawbacks of using OpenSea.

Pros

OpenSea has no centralization, which makes transactions safe and nearly impossible to get scammed. Furthermore, it is easy to invest in NFTs even if you do not have experience or knowledge about blockchain or coding. OpenSea White Label

They also provide a variety of digital currency, making it one of the biggest NFT marketplaces. The platform’s low fees are also an excellent opportunity to earn more income.

Cons

Although it is decentralized and has one of the most diverse NFT selections, it still has its 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 set up your own crypto wallet to either sell or buy from the platform.

Bottom Line

Just like cryptocurrencies, NFTs have been growing over the years. It’s very creative and sounds unusual, but that’s why it’s so attractive to people. OpenSea provides an NFT marketplace that can cater to a variety of NFTs. More categories can be involved as the market becomes more integrated with the decentralized finance.

OpenSea’s ecosystem allows its users to transact without concern about security and privacy. Additionally, it doesn’t charge users high fees. A 2.5 percentage charge on your sales seems acceptable, given that some online stores could charge as high as 5 %.

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

crypto-coins

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

FAQ OpenSea White Label

What do I need so I can make use of OpenSea?

OpenSea offers a mobile and desktop browser that you can utilize. When you’re using the browser with your mobile phone, your browsers must work with Etherium. Also, you’ll need either a wallet, or an extension. In addition, it must be topped up for you to begin.

Does OpenSea have a support team?

Yes they have a customer support team you can reach via its contact forms. Visit their website, and look on the page for “Submit a request.”

Are you able to mint at OpenSea?

You can mint at OpenSea. All you need to do is create an NFT and then add an item in your inventory. If you’re ready for selling the items, post them for auction. It’s easy and gas-free to accomplish, but it is also possible to go through their tutorials.

What are gas fees?

The gas fees refer to transaction costs that are charged by Etherium. The gas fee is charged when you transfer crypt funds to another wallet. Etherium has one-time fees and regular fees. The price is determined through the marketplace, therefore they fluctuate from time to time.

What do I need so I can utilize OpenSea?

OpenSea has a mobile and desktop browser that you can use. If you’re using it through your mobile phone, your browsers should work with Etherium. Also, you’ll need either a wallet, or an extension. Additionally, it should be fully charged to get started.

Does OpenSea has a support team?

Yes, they have a support team that you can contact through their contact form. Just go to the official site and search on the page for “Submit a request.”

Can you mint at OpenSea?

You can mint at OpenSea. All you need make is to create an NFT and then add the item to your collection. When you’re ready to sell them, list them for sale. This is gas-free and easy, but you can also go through their tutorials.

What are the costs for gas?

These are transactions charges from Etherium. You pay a gas fee when you transfer crypt funds to another wallet. Etherium is a one-time fee and recurring fees. The prices are driven in accordance with the current market conditions, therefore they fluctuate every now and then.

bitcoin-coins

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

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