When Does The Regular Season Nft End

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OpenSea has become one of the most popular platforms for NFTs. It’s also the first one to launch a platform like this throughout the years. It’s seen rapid growth, as blockchain and NFT have become increasingly sought-after investments.

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

If you’re looking to invest through NFTs beginning with an appropriate marketplace can give you the leverage you need. This is why we wrote this review. OpenSea has always been the top NFT marketplace. But is it right for you?

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

If you prefer the written word, look through what it is prior to we examine its costs and the benefits it offers.

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Before you continue, you may want to watch this video by The Social Guide on YouTube that gives a quick review. Afterward, you’ll want to read the rest of our article for a more comprehensive review.

What is OpenSea? When Does The Regular Season Nft End

OpenSea provides a platform that deals in non-fungible tokens, 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, domain names.

It was founded in the year 2018 by Devin Finzer and Alex Atallah, two programmers who started by facilitating the 1st generation of digital collectibles. It was also among the first NFT marketplaces, a concept that is similar to cryptocurrency.

Today, it is one of the biggest NFT marketplaces. They have an extensive collection of NFTs which is constantly growing. The best part about them is that they allow users to sell NFTs bought or created elsewhere.

What is the process behind OpenSea operate?

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

For OpenSea The majority of the assets that are listed on the platform are owned by users, not the platform. Since they’re a decentralized marketplace, they have intelligent contracts to ensure that buyers can communicate 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. Furthermore, you’re not required to open an account. All you need is to have a web3-enabled wallet.

In the event that you’re buying you can use their search engine to search for NFTs that you’d like to purchase. They also offer filters to simplify your search.

When Does The Regular Season Nft End

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

What types of NFTs are available to purchase from OpenSea?

There are around 200 kinds of NFTs that you can buy from OpenSea. Here are eight categories in which they are typically placed. Let’s take a closer look at each.

Music

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

Collectibles

Before NFTs were popular, a few people were investing in collectibles such as baseball cards, film props, and even the older technologies.

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

Art

Art has always been among the most popular NFT since before NFT was invented. As of today it is possible to make the same thing with digital art. It’s not limited to digital artworks and illustrations. You can also collect gifs images, photos, or small video clip clips.

Trading Cards

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

Sports

Sports-related digital items can also be collected, like animated team logos.

Virtual Worlds

VR environments and components can now also be bought. You can purchase these metaverses and other things such as game items, the VR environment, virtual objects, characters, or even virtual lands. One popular instance can be Axie Infinity.

Utility

As far-fetched as it sounds there are also NFTs that are specifically designed to perform certain capabilities. Examples are from Emblem Finance and Urbit ID.

Domain Names

Websites can now also be considered to be 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 on OpenSea is easy. All you have to do is to list your products on the marketplace. You only have to make sure your account is linked. After you’ve entered your bid and type of auction then you’re all set.

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

You can currently select from 5 selling options. The choices are:

Fixed Price

The seller is the one to charge the price of the NFT. Like the name suggests it is not subject to change.

Dutch Auction

In the Dutch Auction, the seller sets a price that will fall over time. Sellers usually set very expensive prices. With time, the value will lower until it becomes equal to the buyer’s bidding. Additionally, the buyer can submit an offer. The NFT is sold after they have agreed on a price.

English Auction

The seller puts up an NFT to sell and list a minimum price. This is different from that of the Dutch Auction, where the price decreases over time. In the English Auction, buyers will make bids until the seller is able to sell the auction at the price of highest bidding.

OpenSea is able to automatically approve the transaction if the auction ends 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, you could use OpenSea’s bundle features. 30 items can be listed in the bundle.

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

Are there any charges?

It’s normal for crypto or NFT marketplaces to charge charges to use the platform. While the fee charged varies depending on the platform, it’s typically a percentage of the sale cost that the buyer pays. This is similar to how traditional galleries make money through a portion of the paintings that are sold.

With OpenSea, you will only have to pay 2.5% when you purchase an NFT. The marketplace does not charge listing costs and other surcharges that are associated with. Other marketplaces charge 5% per sale, which makes the OpenSea’s 2.5 percent cost competitive.

However, you have to know that certain NFTs charge higher transaction costs as compared to other. It is possible for this to differ between seller. Some artists can also have an additional commission on sales, apart of the required 2.5 percentage.

In addition, trading on Etheruem could be expensive. The NFT collection will only be minted as a valid non-fungible token once your NFT bid has been accepted. The price for this process will vary based on the market, but you can anticipate that it will be in the range of $100 for each NFT.

Also, you should know that certain NFTs earn additional commissions. For instance, game designers receive up to 15% commissions for items they’ve sold.

What are the payment methods?

OpenSea is not able to accept conventional currency like US Dollar or Euros. You’ll need to set up your crypto wallet, where you’ll convert the cryptocurrencies to cash. Also, you are not able to make use of PayPal, credit, and debit card to make payments for or transfer funds. When Does The Regular Season Nft End

The NFTs can only be purchased or traded if your cryptocurrency is supported by OpenSea. Here’s a list of blockchains and wallets that they 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 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 there is no any experience or expertise in blockchain or coding. When Does The Regular Season Nft End

They also offer several types of digital currency, making them one of the most popular NFT marketplaces. Low platform fees are also an excellent method to make more money.

Cons

Although it is decentralized and offers one of the most diverse NFT collection, the service still has its limitations. OpenSea only accepts crypto as a form of payment. Having no fiat support and no support for payments with currencies like USD or Euros.

You will also need to create your 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 strange, which is why it’s so attractive to people. OpenSea is an NFT marketplace that caters to a broad range of NFTs. The number of categories available will increase when the market is integrated with decentralized finance.

The OpenSea ecosystem allows users to make transactions without worrying about security and privacy. Additionally, it doesn’t charge customers high charges. A 2.5% charge on your sales seems reasonable, considering some marketplaces can charge as high as five percent.

All in all, OpenSea is an excellent marketplace, both for NFT traders who are just beginning their trading or for professionals.

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

FAQ When Does The Regular Season Nft End

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

OpenSea offers a mobile and desktop browser that you can use. In the event that you’re trying it with your phone on the go, your browsers must be compatible with Etherium. Additionally, you should have an account with a wallet or extension. Also, it needs to be fully charged to get started.

Does OpenSea have a support staff?

Yes, they have a support team that can be reached via their contact form. Visit their official website and look for “Submit a request.”

Do you have the ability to earn money at OpenSea?

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

What are the gas prices?

The gas fees refer to transaction charges from Etherium. You pay a gas fee when you transfer crypt funds to another wallet. Etherium has one-time fees and periodic fees. The prices are driven in accordance with the current market conditions, which means they constantly change at regular intervals.

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

OpenSea offers a mobile and desktop browser you can utilize. If you’re using it on your mobile phone, the browsers should be compatible with Etherium. Also, you’ll need a wallet or a wallet extension. In addition, it must be topped up for you to start.

Does OpenSea have a support staff?

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

Can you mint at OpenSea?

You can mint at OpenSea. All you have be able to do is make an NFT and add the item to your collection. When you’re ready to sell the items, post them for auction. This is gas-free and easy, but you can also go through their tutorials.

What are the gas prices?

Gas fees are transaction costs that are charged by Etherium. You pay a gas fee when you transfer crypt funds to another wallet. Etherium has one-time fees and regular fees. The prices are driven through the marketplace, which means they change at regular intervals.

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

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