2021 Nft Draft Tickets

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The cryptocurrency market is on the rise, and you’re probably wondering where to invest your crypto-coins. Markets have popped up across the internet, designed to sell and buy NFTs with cryptocurrency! OpenSea is one of them and is worth checking out.

If you’re well-versed in cryptocurrency, you’ve likely heard of OpenSea prior to this for a valid reason. It’s now one of the biggest and leading marketplaces among cryptocurrency enthusiasts due to its safety and speedy transactions.

Get on board, and let’s see the possibilities of OpenSea, along with checking the NFTs available to view!

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

OpenSea as an NFT Marketplace 2021 Nft Draft Tickets

The goal of OpenSea was to simply provide artists with a marketplace/platform to upload commissions, without having to pay any additional costs. It has more functions that let you sell your artwork without any difficulties.

In terms of registration, you don’t need to worry about giving any personal information about yourself. All you have to connect your crypto wallet and voila! You have an account on OpenSea! It’s as easy as that, without much hassle as you step into NFTs.

OpenSea: Blockchain

The most well-known cryptocurrency to use in the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain technology and is used for the majority of transactions. It also operates with the Polygon blockchain, which allows for lower costs and faster trading.

With these two types of blockchains available you can pick which one you want to publish your NFT as seller. This is to ensure the security of your NFT and those who wish to buy it. Every transaction will be conducted by using the blockchain, which is why you need to think about where to upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s an endless online marketplace where you can exchange your NFTs or cryptocurrency for other NFTs. It is possible to purchase anything the simplest domain name, to a piece of art from an artist you admire. Anyone can become a seller however it takes time for anyone to be an established one.

There is a wide variety in the collection of NFTs available at OpenSea and you can join in with the collection! You can set up your own personal market on this site, as well as find NFTs that you would like to purchase yourself.

2021 Nft Draft Tickets

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What is an NFT?

In a recent advancement for the cryptocurrency industry the term “NFT” has been going around so long on the internet that a lot of millennials are familiar with it , but aren’t sure exactly what it actually means. Let’s break down what an NFT is for any beginners in cryptocurrency.

One of the new things that you can buy with cryptocurrency includes an NFT. The NFT is a non-fungible token which is extremely individual and cannot be changed. It can be a piece of rareness like mint-condition baseball trading cards or a rare vinyl record.

There’s no limit to what an NFT can be since it’s a non-fungible item you’re selling online. In simpler terms, you could just imagine as an NFT as a digital collectible that is paid for using cryptocurrency only.

Minting NFTs

Minting is like calling the shots for your personal NFTs. You’re claiming the ownership of the particular item that you posted to the marketplace, and putting it up for sale. Usually, this is recognized once you fill out all the necessary information about the NFT and then submit it for sale on.

On OpenSea it’s a straightforward procedure to create your own NFTs by going to the store and simply creating a collection to start! Complete the correct and accurate information about your NFT and then select what type of settings you want to use it with (e.g., blockchain, payments tokens). Once that’s all done, you can finally upload it if it fits the limit of 100MB.

It is possible to wait and see how transactions progress from here on out to determine whether OpenSea is the best marketplace for you.

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What NFTs can you get here?

In this moment you’re probably thinking about what kind of NFTs can you shop for here and what you can also sell if you decide to pursue that route. The type of NFT it isn’t limited because there’s a wide range of options for how to do it.

It is possible to sell trade cards, digital goods game assets, domain names, and even physical assets! Consider what you believe will reap the best rewards by trying OpenSea.

OpenSea: Collection Manager Feature

This Collection Manager feature is what sets OpenSea from the other options. There’s no cost for gas for using this feature when you make and then sell the NFTs. This means you’ll get the most profit when you begin selling since you won’t have to spend on additional fees.

There aren’t many NFT marketplaces have this feature, so this can be a fantastic way to earn a high return from your collection.

Referral Program

A Referral Program is another distinctive feature of OpenSea to take note of. Similar to traditional online markets, you can receive rewards by referring your friend to OpenSea! If you encourage a friend join OpenSea and buy an NFT from there you’ll be rewarded with 2.50% of the sale amount, which means you can make more money by this method.

Other NFT marketplaces don’t have this feature This is a further benefit OpenSea has over the other marketplaces.

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Mobile Application

There’s an OpenSea mobile app, but it is mainly used to browse through the marketplace. Unfortunately, you can’t purchase or sell items as you browse through the listing.

The mobile apps of OpenSea are available for both iOS as well as Android. While you’re not able to buy or sell things, you can explore the products you’re looking for on the move.

Crypto Exchange Platforms

Various crypto exchange platforms are to you You can also convert your fiat money into cryptocurrency using these platforms. 2021 Nft Draft Tickets

You can convert your fiat currency using a the credit card, or Paypal through these trusted sites to exchange it for crypto:

  • Binance
  • CoinBase
  • CoinMama
  • Kraken
  • Bittrex, and other things!

Each of them has the option of exchange for ETH that is the standard cryptocurrency payment option in OpenSea.

Crypto Wallets

While OpenSea is an NFT marketplace that is open to all kinds of cryptocurrency, wallets are still more compatible with it than other. Because it is based on an ETH blockchain, wallets which are part of this network are appropriate for this site.

Here’s a list of different crypto wallets you can utilize in OpenSea:

  • WalletConnect
  • Coinbase
  • TrustWallet
  • OperaTouch
  • Bitski
  • Authereum and many more!

*Note: Compatible crypto wallets can be seen on OpenSea’s FAQ page. Each wallet has its own restrictions, such as easy registration, only mobile usage, and the function to purchase cryptocurrency using the credit card. 2021 Nft Draft Tickets

To know more about it, you can check their FAQs to see a rundown of how you can begin and also what other crypto wallets are compatible with OpenSea.

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Pros and Cons of OpenSea

Like all crypto markets each one comes with advantages and disadvantages. OpenSea isn’t an exception to this. You can view its pros and cons here:

Pros

  • Available as mobile apps for iOS or Android.
  • Smart contracts are used for transactions.
  • High-level security , with the backing of blockchain.
  • The best option for beginners to the crypto industry and NFTs.

Cons

  • Allows royalties of only up to 10% for artists (low royalty).
  • You cannot buy or sell products on the mobile app.
  • Only supports cryptocurrency as its method of payment.
  • An Crypto digital wallet must be used to access this marketplace.

Pricing

OpenSea is available to anyone who has any crypto currency in their cryptocurrency wallets. When you are selling, OpenSea takes a 2.5 percentage of commissions for all sellers on the platform. In the end, you’ll quickly recover this amount if you actively sell because there is no additional fee for it.

Frequently Asked Questions 2021 Nft Draft Tickets

What is OpenSea?

OpenSea can be described as an NFT marketplace that is designed to give artists a chance for selling their artwork online to receive cryptocurrency as a method of payment. It’s a great option for artists who want to use it to sell NFTs due to its low gas fees and low commission fee rate which you are required to pay.

You can browse and shop for an array of digital goods in this NFT marketplace, so you should take a look!

Is OpenSea legit & secure?

Answer: Yes! OpenSea has been a reliable marketplace since it was founded in the year 2018. Since its system is built on a blockchain that is secure, you can say that your transactions are secure and safe.

Furthermore, as a seller, you will be verified after you’ve earned a reputation. A blue checkmark is placed next to your account or any collection you’ve uploaded to ensure the safety of any customer. The OpenSea team reviews regularly the content to ensure users are secure.

How do I earn royalties on OpenSea?

Unfortunately, as an artist, you can get only 10 percent of the royalties after you upload the NFT. This is thought to be a reasonable amount compared with the other NFT marketplaces.

What are the cryptocurrency options available in OpenSea?

Ethereum (ETH) is widely utilized on this website and numerous others to cater for more crypto users. These are other cryptos you can use in the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

These are the primary cryptocurrencies you can make use of to use OpenSea.

What are the payment options for OpenSea?

OpenSea is the only platform that allows cryptocurrency exchanges through its website. You can buy and trade cryptocurrency using trusted platforms with fiat money. All you need be able to connect is your credit or Paypal to complete the exchange.

Does OpenSea have a desktop or mobile application?

As we mentioned earlier there’s an official mobile app from OpenSea available for both iOS as well as Android. Install it from their app store and you can start browsing through the collection right now!

A Desktop application that OpenSea can be downloaded via WebCatalog. With the desktop application, you can manage multiple accounts and get alerts on any updates that affect your account from the desktop.

You can also easily access the website from the browser by going to their official website (https://opensea.io/).

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