Top Nft Sites

opensea-review

OpenSea has become one of the top marketplaces for NFTs. It was the first to release such a platform in the past. It has seen rapid growth as blockchain and NFT become more popular investments.

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

If you’re set on investing through NFTs and want to start from an appropriate marketplace can give you the leverage you require. This is why we wrote this review. OpenSea is always the leading NFT marketplace. But is it right for you?

Before you start, we’d like to warn you. This review is quite a long read. If you’d rather take a look at videos instead, check out the review of this channel. They’ll walk you through OpenSea and its functions so you’re aware of everything before you begin 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 review. After, you will want to read the rest of our article for a more comprehensive review of OpenSea.

What is OpenSea? Top Nft Sites

OpenSea offers a market for non-fungible tokens, also referred to as NFTs. Through their decentralized marketplace, users can sell, buy, and trade NFTs with other users.

The NFTs that are available aren’t restricted to art, music games, or game products, as well as domain names.

It was established in the year the year 2018 by Devin Finzer and Alex Atallah two programmers who began with the introduction of the first generation of digital collectible items. It was also one of the first NFT marketplaces, a concept that is similar to cryptocurrency.

Today, it is one of the largest NFT marketplaces. They have a vast collection of NFTs that are constantly growing. The most appealing aspect of these is that they permit users to list NFTs that were purchased or developed elsewhere.

How does OpenSea operate?

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

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

That means unless the transaction is complete, your digital assets won’t leave your wallet. Moreover, you aren’t required to create your account. All you have to do is have a web3 supported wallet.

For those who are buyers, you can utilize their website to find NFTs you’d like to purchase. There are filters that can aid in your search.

Top Nft Sites

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

What types of NFTs are available to purchase from OpenSea?

There are more than 200 varieties of NFTs you can purchase from OpenSea. Here are 8 categories where they typically fall into. Let’s have a examine each.

Music

Music is among the most well-known NFTs of all time. It’s not restricted to just songs; you can also purchase mixtapes, remixes, beatsand vocals, or whatever an artist is offering. You can also purchase background noises like rain, indistinct chatters, or other types of sound effects.

Collectibles

Before NFTs became popular, some people invested in collectibles such as baseball cards film props, and even old technology.

In the case of NFTs, you can gather avatars and digital pet and other characters that can be sold or acquired. The more rare they are, the greater value they have. Some also have variants like Nyan Cat and CryptoPunks.

Art

Art has always been one of the most popular NFT since before NFT was invented. In the present it is possible to make the same thing with digital art. It’s not just limited to digital illustrations or paintings. Gifs can be collected as well or images, as well as videos of short length.

Trading Cards

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

Sports

Digital items related to sports are also available, such as animated team logos.

Virtual Worlds

VR spaces and elements can now also be bought. It is possible to purchase these metaverses, or other items like game elements, the VR environment, virtual objects, characters, or even virtual worlds. A popular illustration can be Axie Infinity.

Utility

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

Domain Names

Websites can now also be considered as NFT. You can buy blockchain-based names that aren’t subject to shut 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 need to do is to list them on the marketplace. All you need to do is to ensure that your wallet is connected. Once you’ve added your price and type of auction then you’re all set.

For the first time sellers who are first-time sellers, you will be subject to a single-use gas charge.

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

Fixed Price

The seller is the one who will be charged the price for the NFT. Like the name suggests, it never changes.

Dutch Auction

In an auction like the Dutch Auction, the seller decides on a price which will fall over time. Sellers typically set up very expensive prices. As time passes, the price will decrease until it is equal to the buyer’s bidding. Furthermore, the buyer may submit an offer. The NFT can be sold when they have agreed on a price.

English Auction

The seller is required to put up an NFT to sell and list the minimum price. This is different from auctions like the Dutch Auction, where the price drops as time passes. The English Auction, buyers will bidding until the seller sells it for the most expensive bidder.

OpenSea will automatically accept the bid when the auction closes above 1 Etherium.

NFT Creation

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

Bundles

If you are looking to sell several NFTs in one transaction, it is possible to utilize the bundle features of OpenSea. 30 items can be listed as part of the bundle.

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

Are there any charges?

It’s normal for crypto or NFT exchanges to charge charges to use the platform. Although the charged fee varies depending on the platform, it’s typically proportional to the price paid by the buyer. Similar to how regular art galleries generate income through a portion of the artworks sold.

With OpenSea you only be charged 2.5 percent when you buy an NFT. No listing fees or other surcharges that are associated with. Other marketplaces charge you a 5% per sale, making OpenSea’s 2.5 per cent cost reasonable.

But, it is important to understand that some NFTs charge higher transaction costs as compared to other. The fees can differ for each seller. Certain artists may also receive an additional commission on sales, apart of the required 2.5%.

In addition, trading on Etheruem can be costly. The NFT collection will be issued as a valid token that is non-fungible once your NFT bid is accepted. The cost of the process will vary based on the market conditions, however you can anticipate that it will be about $100 per NFT.

It is also important to be aware that some NFTs charge extra commissions. For instance, game designers are paid up to 15% as commissions for items they’ve sold.

What are the payment options?

OpenSea does not accept traditional currencies such as 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. This means that you can’t make use of PayPal credit, debit, or debit cards for payment or make a deposit. Top Nft Sites

The NFTs can be bought or sold when your cryptocurrency is accepted by OpenSea. Here’s a list of the wallets and blockchains 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 that come with using OpenSea.

Pros

OpenSea is decentralized, making transactions safe and nearly impossible to be swindled. Furthermore, it is easy to invest with NFTs even if you do not have any experience or expertise in blockchain technology or programming. Top Nft Sites

They also offer several types of digital assets, making them one of the largest NFT marketplaces. The platform’s low charges are also a good way for you to earn more income.

Cons

Although it’s decentralized and offers one of the most diverse NFT selections, it has limitations. OpenSea only accepts cryptocurrency as payment. Since there is no support for fiat currencies and no support for transactions using currencies such as USD or Euros.

It is also necessary to set up your own cryptocurrency wallet in order to sell or purchase on the platform.

Bottom Line

Just like cryptocurrencies, NFTs have been growing over the years. It’s very creative and sounds odd, but that’s the reason it is so appealing to people. OpenSea provides an NFT marketplace that can cater to a broad range of NFTs. There are more categories that can be included when the market is integrated with the decentralized finance.

OpenSea’s ecosystem allows its users to make transactions without worrying about privacy and security. Additionally, it doesn’t charge you high fees. A 2.5% charge on your sales seems reasonableconsidering that some marketplaces may charge as much as 5 %.

Overall, OpenSea is an excellent marketplace for NFT traders and professionals.

crypto-coins

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

FAQ Top Nft Sites

What do I need so I can use OpenSea?

OpenSea has a mobile and desktop browser that users 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. Also, it needs to be topped up for you to begin.

Does OpenSea have a support team?

Yes they have a customer support staff that can be reached via the contact page. Go to their website, and search for “Submit a request.”

Are you able to make money at OpenSea?

You can also mint at OpenSea. All you have to do is create an NFT and then add it to the collection. When you’re ready to sell them, put them up for auction. This is a simple and low-cost method to accomplish, but it is also possible to look over their instructional videos.

What are the gas prices?

These are transactions fees that are charged by Etherium. You pay a gas fee when you transfer crypt to another wallet. Etherium is a one-time fee and regular fees. The price is determined through the marketplace, therefore they constantly change from time to time.

What do I need so I can utilize OpenSea?

OpenSea offers a mobile and desktop browser that you can use. When you’re using the browser with your mobile phone, the browsers must be compatible with Etherium. Also, you’ll need a wallet or a wallet extension. Also, it needs to be filled with money to begin.

Does OpenSea have a support team?

Yes, they have a support team you can reach via their contact form. Just go to their website, and look on the page for “Submit a request.”

Are you able to mint at OpenSea?

You can also mint at OpenSea. All you need make is to create an NFT and then add it to the collection. If you’re ready for selling them, put them up for auction. It’s easy and gas-free, but you can also look over their instructional videos.

What are the costs for gas?

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

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

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