Top Selling Nft Art

opensea-review

OpenSea has grown to become one of the most popular platforms for NFTs. It’s also the first to release such a platform in the past. It’s seen rapid growth, as blockchain and NFT are becoming more sought-after investments.

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

If you’re planning to invest using NFTs and want to start from an established marketplace will give you the leverage you need. That’s why we made this review. OpenSea has been for a long time the top NFT marketplace. But is it right for you?

Before you start, we’d like to warn you. This review is quite an extensive read. If you’d prefer to watch a video instead, take a look at the review of this channel. They will guide the user through OpenSea and its features to ensure that you understand everything before you jump in with NFT trading.

If you prefer reading, we’ll go over what it is before we examine its costs and the benefits it offers.

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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’ll want to read the rest of the article for a more comprehensive review of OpenSea.

What is OpenSea? Top Selling Nft Art

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

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

It was founded in the year 2018 in 2018 by Devin Finzer and Alex Atallah two programmers who began with the introduction of the first generation of digital collectibles. It was also among the first NFT marketplaces and a concept similar to cryptocurrency.

Nowadays, it Is one of the biggest NFT marketplaces. They have a vast collection of NFTs which is constantly expanding. The most appealing aspect of them is that they allow users to post NFTs purchased or made elsewhere.

What is the process behind OpenSea work?

If you’ve been trading or buying cryptocurrencies You’ll see NFT trading quite similar.

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

This means that unless the transaction is completed your digital assets will never leave your wallet. Moreover, you aren’t required to open an account. All you require 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.

Top Selling Nft Art

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

What types of NFTs are available to purchase from OpenSea?

There are about 200 types of NFTs that you can buy from OpenSea. There are eight categories to which they usually belong. Let’s take a closer look at each.

Music

Music could be among the most well-known NFTs of all time. It’s not restricted to songs only; you can also purchase mixtapes remixes, beats, vocals or whatever the artist has to offer. Many people even purchase background sounds like rain, indistinct chatters, or other types of sound effects.

Collectibles

Before NFTs became popular, some people invested in collectibles like baseball cards, film props, and even the older technologies.

For NFTs, you can gather avatars and digital pet or other characters that can be sold or taken home. 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 was invented. In the present, you can also do the same with digital artworks. It’s not just limited to illustrations and digital paintings. Gifs can be collected as well or images, as well as small video clip clips.

Trading Cards

There is also the possibility of collecting digital trading cards like those of Sorare or BCCG.

Sports

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

Virtual Worlds

VR environments and components can now also be bought. It is possible to purchase these metaverses, or other items like game elements and the VR environment virtual objects, characters, and even virtual land. A well-known example could be Axie Infinity.

Utility

As absurd as it may sound, you can also buy NFTs with specific functions. Examples are from Emblem Finance and Urbit ID.

Domain Names

Websites are now considered as NFT. It is possible to purchase blockchain-based domains that aren’t subject to being 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 on OpenSea is easy. All you need to do is list them on the marketplace. You only have to ensure that your account is linked. After you’ve entered your bid and the type of auction, you’re good to go.

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

You can currently select among five selling options. The choices are:

Fixed Price

The seller will be the one to pay the cost of the NFT. Like the name suggests it is not subject to change.

Dutch Auction

For the Dutch Auction, the seller determines a price that will fluctuate in the course of. Sellers typically set up very expensive prices. As time passes, the price decreases until it’s equal to the buyer’s bidding. Furthermore, the buyer may also make an offer to the seller. The NFT can be sold when they agree on a price.

English Auction

The seller puts up an NFT for sale and lists an amount that is a minimum. This is different from the Dutch Auction, where the price will decrease as time passes. The English Auction, buyers will bidding until the seller sells it at the price of highest bidding.

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

NFT Creation

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

Bundles

If you want to sell multiple NFTs under one transaction, you could make use of the bundle feature offered by 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 fees?

It’s common for cryptocurrency or NFT marketplaces to charge charges for using the platform. Although the charged fee varies per platform, it’s usually a percentage of the sale cost that the buyer pays. It’s similar to how regular art galleries generate income by getting a share of the paintings sold.

With OpenSea, you will only need to pay 2.5% when you purchase an NFT. No listing fees or other types of surcharges involved. Other marketplaces charge 5percent commission per sale, making OpenSea’s 2.5 per cent cost competitive.

But, it is important to be aware that certain NFTs charge higher transaction costs compared to others. The fees can differ for each seller. Certain artists may also receive an additional commission on sales, apart from the standard 2.5 percent.

Additionally, transacting to Etheruem can be costly. The NFT collection will only be minted as a valid, non-fungible token after your NFT bid has been accepted. The costs for the process will vary based on the market, but you can anticipate that it will be about $100 per NFT.

Also, you should know that some NFTs charge extra commissions. For example, game developers receive up to 15% commissions on the products they’ve sold.

What are the payment methods?

OpenSea does not accept traditional currencies such as US Dollar or Euros. You will need to create your own crypto wallet, from which you’ll convert the cryptocurrencies to cash. This means that you can’t use PayPal credit or debit cards for payment for or transfer funds. Top Selling Nft Art

The NFTs can be purchased or traded only if the cryptocurrency you’re using is supported by OpenSea. Here’s a list with 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 disadvantages of using OpenSea.

Pros

OpenSea has no centralization, making transactions secure and virtually impossible to be swindled. Moreover, you can easily invest with NFTs even if you do not have prior experience or know-how in coding or blockchain. Top Selling Nft Art

They also provide a variety of digital assets, which makes their platform one of the largest NFT marketplaces. The platform’s low fees are also an excellent opportunity to make more money.

Cons

Although it’s decentralized and offers one of the largest NFT collections, it has some limitations. OpenSea only accepts cryptocurrency as a payment. Since there is no support for fiat currencies, it cannot support payments with currencies like USD or Euros.

You will also need to set up your own crypto wallet to sell or purchase on the platform.

Bottom Line

Similar to cryptocurrency, 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 is an NFT marketplace that can be a service to a variety of NFTs. The number of categories available will increase as the industry becomes integrated with financial decentralization.

The OpenSea ecosystem allows users to make transactions without worrying about privacy and security. In addition, it doesn’t cost users high fees. A 2.5 percentage fee on sales is acceptable, given that some online stores could charge as high as 5 %.

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

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

FAQ Top Selling Nft Art

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

OpenSea offers a mobile and desktop browser you can utilize. In the event that you’re trying it on your mobile phone, your browsers should be compatible with Etherium. You also need to have either a wallet, or an extension. Also, it needs to be filled up to begin.

Does OpenSea have a support staff?

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

Are you able to earn 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. When you’re ready to sell the items, post them for auction. It’s easy and gas-free to accomplish, but it is also possible to check out their tutorials.

What are the costs for gas?

The gas fees refer to transaction fees that are charged by Etherium. You pay a gas fee for transferring crypt to another wallet. Etherium offers one-time fees as well as regular fees. Prices are determined through the marketplace, so they constantly change every now and then.

What do I need to know so I can utilize OpenSea?

OpenSea has a mobile and desktop browser you can use. In the event that you’re using it on your phone on the go, your browsers must be compatible with Etherium. Additionally, you should have a wallet or a wallet extension. Also, it needs to be topped up for you to begin.

Does OpenSea have a support team?

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

Do you have the ability to mint at OpenSea?

You can also mint at OpenSea. All you have 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. It’s easy and gas-free but you could also check out their tutorials.

What are the gas prices?

The gas fees refer to transaction fees 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. The prices are driven through the marketplace, so they constantly change at regular intervals.

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

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