The cryptocurrency market is on the rise, and you’re probably wondering what you can do with your crypto-coins. Markets have popped up all over the digital web designed to purchase and sell NFTs using cryptocurrency! OpenSea is among them and is worth checking out.
If you’re interested in crypto, you’ve probably heard of OpenSea before for a good reason. It’s one of the largest and most popular marketplaces among cryptocurrency users because of its security and rapid transactions.
So, hop on board and let’s explore the possibilities of OpenSea, along with checking what NFTs you can view!
Before you go on, you may want to watch this video by TopHatCat on YouTube that gives a quick review. Afterward, you’ll want to read the rest of the article for a more comprehensive review of OpenSea.
OpenSea as an NFT Marketplace How To Make Nft Art
The goal to create OpenSea was to simply provide an online marketplace for artists to upload their commissions, without having to pay any additional costs. It also has additional functions which allow you to market your art without too many problems.
When it comes to registration, you don’t need to give all of your personal details. All you have to connect your cryptocurrency wallet, and voila! you have an account on OpenSea! It’s as easy as that and without much hassle as you step into NFTs.
The most widely-used cryptocurrency used in the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain, which is the system that runs it, and this is used to carry out the majority of processes. It also operates using the Polygon blockchain to ensure lower costs and faster trading.
With these two types of blockchains you can pick which one you’d like to publish your NFT as an seller. This is to ensure the security of your NFT as well as those who wish to purchase it. Every transaction will be conducted by using the blockchain, and you must consider where to upload it.
OpenSea: NFT Collection Galore
At OpenSea it’s like an endless online marketplace where you can exchange your cryptocurrency or NFTs for other NFTs. You can purchase anything from as simple as a domain name to an official artwork from an artist that you admire. Anyone can sell however, it takes some time for anyone to become an established one.
There is a wide variety of NFTs available at OpenSea and you could become a part of that! You can set up your own personal market on this site, as well as find NFTs that you would like to purchase yourself.
What is an NFT?
In a recent development for the crypto market the term “NFT” has been going around so long on the internet that the majority of young people have heard of it but aren’t sure exactly what it actually means. Let’s look at what an NFT is for anyone who is new in the field of cryptocurrency.
One of the newest things that you can buy with cryptocurrency is an NFT. The NFT is a non-fungible token that is very individual and cannot be replaced. It could be a piece of rareness like 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 object that you sell on the internet. In simpler terms, you could just consider as an NFT being a virtual item paid via cryptocurrency only.
Minting is like calling dibs on your own NFTs. It is a way of claiming the owner of the item or token you uploaded on the market place, but putting it up for sale. Typically, this is official once you fill out the proper information regarding the NFT and then upload it to the marketplace.
On OpenSea it’s a straightforward procedure to create your own NFTs by going to the store and then create a collection! Complete the correct and correct information regarding your NFT and select the type of settings you’d like to use for it (e.g. blockchain, money transfer tokens). Once that’s all done, you can finally upload it to the internet if it’s in the limit of 100MB.
You can wait and observe how transactions progress from here on out to determine if OpenSea is the best marketplace for you.
What NFTs can you get here?
At this point, you’re probably wondering what kind of NFTs you shop for here and what kind of NFTs you can also sell if you choose to pursue that route. The type of NFT it isn’t limited since there’s a broad range of ways to do it.
You can be selling digital products, trading cards, game assets, domain names, and even physical assets! Find out what you think will bring the greatest rewards by trying OpenSea.
OpenSea: Collection Manager Feature
The Collection Manager feature is what differentiates OpenSea from the other options. There’s no cost for gas when you utilize this feature when you make and then sell the NFTs. This means you’ll be able to make the highest profits once you start selling because you don’t need to pay on any additional charges.
There aren’t many NFT marketplaces provide this feature, and it is a great way to make a huge profit from your portfolio.
The Referral Program is a different aspect of OpenSea to be admired. Similar to traditional online markets, you can receive advantages by referring someone else to OpenSea! If you encourage a friend join OpenSea and purchase an NFT from the site, you’ll receive 2.50 percent of the sales amount, which means you can earn more cash by this method.
Other NFT marketplaces do not have this feature, so that’s just another advantage OpenSea is able to offer over other NFT marketplaces.
There’s an OpenSea mobile app, but it’s mostly for perusing through the marketplace. You can’t buy or sell items as you scroll through the list.
OpenSea’s mobile apps are available on both iOS in addition to Android. While you’re not able to buy or sell something, you can at least explore the products you’re interested in on the go.
Crypto Exchange Platforms
Various crypto exchange platforms are to you You can also exchange your fiat money for cryptocurrency through these platforms. How To Make Nft Art
You can exchange your fiat currency using a credit card or Paypal through these trusted sites to exchange it for crypto:
- Bittrex and other things!
All of them have the option to exchange for ETH that is the standard cryptocurrency payment option in OpenSea.
Although OpenSea can be described as an NFT marketplace open to all forms of crypto, wallets are still more compatible with it than other. Since it is built around the ETH blockchain, all wallets that share this network are appropriate for this website.
Here’s a list different crypto wallets you can use in OpenSea:
- Authereum and many more!
*Note: Wallets that are compatible with crypto are available on the OpenSea FAQ page. Each has its own limitations, such as easy registration, mobile-only usage and the ability to purchase cryptocurrency using a credit card. How To Make Nft Art
To know more about it to learn more, check out their FAQs for the steps you can begin and what other crypto wallets work with OpenSea.
Pros and Cons of OpenSea
Like all crypto markets each one comes with advantages and drawbacks. OpenSea isn’t the only one to have this. You can view its pros and pros here:
- Mobile apps available that are compatible with iOS and Android.
- Smart contracts are utilized for transactions.
- High-level security , with the backing of blockchain.
- The best option for beginners to the crypto market and NFTs.
- Allows royalties of only up to 10% for artists (low royalty).
- It is not possible to buy or sell items on our mobile apps.
- Only accepts cryptocurrency as a form of payment.
- The use of a Crypto account is needed to use this marketplace.
OpenSea is open to everyone who owns any crypto coins in their crypto wallets. When you are a seller, OpenSea takes a 2.5% portion of commission fees to all the sellers who are on this platform. In the end, you’ll quickly regain that when you are actively selling since there’s no extra charge for it.
Frequently Asked Questions How To Make Nft Art
What is OpenSea?
OpenSea is an NFT marketplace that aims to offer artists a way for selling their artwork online to receive cryptocurrency as a form of payment. It’s a great platform for artists using for selling NFTs due to its low cost of gas and the low commission rate that you have to pay.
You can shop and browse a vast collection of digital products on this NFT marketplace which is why you should definitely take a look!
Is OpenSea real and is it safe?
Answer: Yes! OpenSea has been a reliable marketplace since its inception in the year of 2018. Since its system is built on blockchain technology, it is safe to declare that transactions are secure and safe.
Furthermore, as a seller, you’ll be verified when you have built up your credibility. A blue checkmark will be assigned on your account or the collection you’ve uploaded to ensure the safety of anyone who buys from you. The OpenSea team reviews regularly the content to ensure that users are secure.
How can I earn royalties from OpenSea?
Unfortunately, as an artist, you can get only 10% of the royalties once you have uploaded the NFT. This is believed to be quite low in comparison against others NFT marketplaces.
What is the most popular cryptocurrency offered in OpenSea?
Ethereum (ETH) is frequently utilized on this website and other sites to provide more crypto users. These are other cryptos that you can buy on the OpenSea marketplace:
These are the cryptocurrencies that you can make use of to access OpenSea.
What are the payment options for OpenSea?
OpenSea does not allow cryptocurrency exchanges on the website. It is easy to buy or trade cryptocurrency using reliable platforms using fiat currency. All you have to do is connect your credit card or Paypal for the transaction.
Does OpenSea has a mobile or desktop app?
As we mentioned earlier, there is definitely an official mobile application from OpenSea that is available for iOS as well as Android. Download it at their respective app store and then you can begin exploring the collection right now!
A version for desktops that OpenSea that can be downloaded through WebCatalog. In the desktop application, you can manage multiple accounts as well as receive 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/).