How Nft Games Earn Money

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The crypto currency market is in a boom right now, and you’re probably wondering where to invest your crypto coins. Marketplaces are popping up across the web that allow users to buy and sell NFTs via cryptocurrency! OpenSea can be one, and it’s worth a look.

If you’re well-versed in cryptocurrency, you’ve probably heard of OpenSea previously for a valid reason. It’s one of the largest and leading marketplaces among users of cryptocurrency due to its safety and speedy transactions.

Now hop aboard, and discover the possibilities of OpenSea, along with checking the NFTs available to view!

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Before you go on, you may want to check out this video by TopHatCat on YouTube that gives a quick review. After, you will want to read the rest of the article for a more comprehensive review.

OpenSea as an NFT Marketplace How Nft Games Earn Money

The goal to create OpenSea was to offer artists with a marketplace/platform to upload their commissions without any extra fees. There are additional features that allow you to sell your work without having to deal with many difficulties.

For registration, you won’t have to give too many details about yourself. All you need to connect your cryptocurrency wallet, and voila! you have an account with OpenSea! It can be as simple as that, without much hassle as you step into NFTs.

OpenSea: Blockchain

The most popular cryptocurrency that is used within the OpenSea market is Ethereum (ETH). This market is built upon the Ethereum blockchain, which is the system that runs it which is utilized for the majority of transactions. It also operates using the Polygon blockchain to ensure the lowest cost and speediest trading.

There are two types of blockchains available you can pick which one you want to upload your NFT on as an seller. This will ensure the security of your NFT as well as those who wish to purchase it. All transactions are made using this blockchain, so you should think about where you should upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s an endless online mall that lets you trade your cryptocurrency or NFTs in exchange for other NFTs. You can purchase anything from the simplest domain name to an official artwork from an artist you admire. Anyone can sell, but it takes time before anyone can become an established one.

There’s a huge selection of NFTs available at OpenSea and you could join in with this! You can set up your own market there, and also find NFTs that you would like to purchase yourself.

How Nft Games Earn Money

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What is an NFT?

In a recent advancement for the crypto industry the term “NFT” has been going around for so long on the internet that the majority of young people have heard of it but aren’t sure exactly what it means. Let’s break down what an NFT is for anyone who is new in the field of cryptocurrency.

One of the newest things you can purchase your cryptocurrency includes an NFT. The NFT is a token that is non-fungible which is extremely unique and can’t be substituted. This can be an item of any rareness, such as rare baseball trading cards in mint condition or a uncommon vinyl record.

There’s no limit to what an NFT could be, since it’s a non-fungible item that you sell on the internet. More straightforwardly, you can just consider as an NFT being a virtual collectible that is paid for using cryptocurrency only.

Minting NFTs

Minting is similar to calling for dibs to your NFTs. You’re claiming the ownership of the particular item you uploaded on the market place, but selling it. Usually, this becomes official once you fill out the correct information about the NFT and finally submit it for sale on.

On OpenSea it’s a straightforward process to mine your NFTs. All you have to do is visit the store and simply making a collection to begin! Input the appropriate and correct information regarding your NFT and select the type of settings you’d like to use for it (e.g. blockchain or payments tokens). Once that’s all done you are able to upload it, if it’s within the 100 MB limit.

You can wait and observe how the transactions go from now on to determine whether OpenSea is the best marketplace for you.

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What NFTs are available here?

So, at this point you’re probably asking yourself the kind of NFTs can you shop for here and what you can also sell if you decide to go that route. The type of NFT it can be is unlimited because there’s a wide range of ways to approach it.

You can be selling digital products, trading cards game assets, domain names, and even physical assets! Explore what you believe can yield the most profit when you try out OpenSea.

OpenSea: Collection Manager Feature

The Collection Manager function is the one that separates OpenSea from the other options. There’s no cost for gas when you utilize this feature when you mint and sell NFTs. This means you’ll get the most profit when you start selling because you won’t need to spend on any additional charges.

Very few NFT marketplaces offer this feature, so this can be a fantastic way to receive high profit from your collection.

Referral Program

A Referral Program is another distinctive feature of OpenSea to be admired. Like traditional online marketplaces that offer rewards by referring your friend to OpenSea! If you refer a friend to join OpenSea and then purchase an NFT from there you’ll be rewarded with 2.50 percent of the sales amount, letting you make more money from this act.

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

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Mobile Application

There is an OpenSea mobile application, however it’s mostly for perusing through the marketplace. You can’t buy or sell anything 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 at least look through the options you’re interested in while on the go.

Crypto Exchange Platforms

Various crypto exchange platforms are for you to use You can also exchange your fiat money for cryptocurrency on these platforms. How Nft Games Earn Money

You can swap your fiat currency using a the credit card, or Paypal on these reliable websites to exchange it for crypto:

  • Binance
  • CoinBase
  • CoinMama
  • Kraken
  • Bittrex and more!

All of them have the option of converting them into ETH which is the most common cryptocurrency payment option in OpenSea.

Crypto Wallets

While OpenSea has been described as being an NFT marketplace open to all kinds of cryptocurrency, the wallets nevertheless more compatible than others. Because it is based using an ETH blockchain, wallets which are part of the same network are suitable for this site.

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

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

*Note: Compatible crypto wallets can be seen on OpenSea’s FAQ page. Each wallet has its own restrictions including simple registration, mobile-only usage, and the function to buy cryptocurrency using a credit card. How Nft Games Earn Money

To learn more about it to learn more, check out their FAQs for the steps you can get started and what other crypto wallets work with OpenSea.

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Pros and Cons of OpenSea

Like many crypto marketplaces every one of them has advantages and disadvantages. OpenSea isn’t an exception to this. It is possible to read about its pros and cons here:

Pros

  • Mobile apps are available that are compatible with iOS as well as Android.
  • Smart contracts are used for transactions.
  • High-level security with the support of blockchain.
  • Best for beginners in the crypto industry and NFTs.

Cons

  • Allows royalties 10% to artists (low royalty rates).
  • It is not possible to buy or sell items on this mobile application.
  • Only accepts cryptocurrency as a form of payment.
  • A Crypto digital wallet must be used to use this marketplace.

Pricing

OpenSea is accessible to everyone who has crypto coins in their cryptocurrency wallets. When you are a seller, OpenSea takes a 2.5 percentage of commissions to all the sellers who are on this platform. In the end, you’ll quickly recover this amount if you actively sell because there’s no additional cost for it.

Frequently Asked Questions How Nft Games Earn Money

What is OpenSea?

OpenSea is an NFT marketplace that is designed to give artists a chance to market their work online to receive cryptocurrency as their form of payment. It’s an ideal platform for artists who use it to sell NFTs due to its low gas fees and the low commission rate you must pay.

You can browse and shop for an array of digital items on the NFT marketplace, so you should take a look!

Is OpenSea real and safe?

Answer: Yes! OpenSea is a reputable marketplace since it was established at the end of 2018. Because its system is based on a blockchain, it is safe to say that your transactions are safe and secure.

In addition as a seller you can become verified once you build up your reputation. A blue checkmark will appear to your account or collection that you have uploaded to assure every customer. The team at OpenSea regularly checks the content to ensure users are safe.

How can I earn royalties from OpenSea?

However, as an artist, you will get only 10 percent of the royalties after you upload the NFT. This is thought to be reasonably low compared with other NFT marketplaces.

What cryptocurrency is available in OpenSea?

Ethereum (ETH) has been frequently utilized on this website and other sites to provide more crypto users. Below are the other cryptocurrency you can use in the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

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

How do I pay for OpenSea? What are my payment options for OpenSea?

OpenSea does not allow cryptocurrency exchanges on the website. You can buy and trade cryptocurrency using reliable platforms using fiat currency. All you need just connect your debit or credit card to Paypal to complete the transaction.

Does OpenSea have a desktop/mobile application?

As we mentioned earlier, there is definitely an official mobile app from OpenSea available for both iOS as well as Android. You can download it through their app store, and then you can begin exploring the collection right now!

There is also a Desktop application that OpenSea that can be downloaded through WebCatalog. With the desktop application you are able to manage multiple accounts and get notifications on updates regarding your account when you’re on 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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