Should I Make Nft Art

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

If you’re well-versed in cryptocurrency you’ve probably heard of OpenSea before for a good reason. It’s one of the biggest and leading marketplaces among cryptocurrency enthusiasts due to its security and quick transactions.

Now hop aboard, and let’s explore the possibilities of OpenSea, along with checking what NFTs you can view!

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

OpenSea as an NFT Marketplace Should I Make Nft Art

The goal to create OpenSea was to offer an online marketplace for artists to upload commissions without any extra charges. There are additional features which allow you to market your art without too many difficulties.

When it comes to registration, you don’t need to worry about giving all of your personal details. All you need to do is connect your cryptocurrency wallet, and voila! you have an account on OpenSea! It’s as simple as that, without many hassles when you enter into NFTs.

OpenSea: Blockchain

The most popular cryptocurrency to use within the OpenSea market is Ethereum (ETH). This marketplace is built on the Ethereum blockchain, which is the system that runs it which is utilized for the majority of transactions. It is also based on the Polygon blockchain, which allows for lower costs and faster trading.

There are two types of blockchains it is possible to choose which one you’d like to upload your NFT on as seller. This is to ensure the security of your NFT and those who wish to buy it. All transactions are made along with this blockchain, and you must think about where you should upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s like an online shopping mall that is endless that lets you trade your cryptocurrency or NFTs in exchange for other NFTs. It is possible to purchase anything just a domain name to an official artwork from an artist you admire. Anyone can become a seller, but it takes time for anyone to become a reputable one.

There’s a huge selection from the selection on OpenSea and you can become a part of this! You can start your own marketplace here, along with finding NFTs that you would like to purchase for yourself.

Should I Make Nft Art

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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 many millennials are familiar with it , but aren’t sure exactly what it means. Let’s break down what an NFT is for any beginners in cryptocurrency.

One of the latest ways you can purchase your cryptocurrency can be an NFT. The NFT is a non-fungible currency that is exclusive and cannot be substituted. It can be an item of rarity like rare baseball trading cards in mint condition, or a uncommon vinyl record.

There is no limit to what an NFT could be, since it’s a non-fungible thing that you sell online. More straightforwardly, you can just imagine as an NFT as a digital collectible paid via cryptocurrency only.

Minting NFTs

Minting is similar to calling for dibs on your own NFTs. It is a way of claiming the ownership of the particular item that you posted to the marketplace, and selling it. Usually, this becomes official after you fill in the proper information regarding the NFT and upload it to the marketplace.

On OpenSea, it’s a simple process to mine your NFTs by going to the store and simply create a collection! Input the appropriate and complete information about your NFT and select the type of settings you’d like to use to use it with (e.g., blockchain or payment tokens). After that you are able to upload it to the internet if it’s in the 100 MB limit.

It is possible to wait and see how transactions progress from now to determine if OpenSea is the marketplace for you.

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What NFTs are available here?

So, at this point you’re probably thinking about the kind of NFTs can be found here and what kind of NFTs you can also sell if you decide to go down that path. The type of NFT that you can purchase isn’t limited because there’s a wide range of options for how to go about it.

You can be selling digital products, trading cards, game assets domain names, even physical assets! Find out what you think will reap the best rewards by experimenting with OpenSea.

OpenSea: Collection Manager Feature

This Collection Manager function is the one that separates OpenSea from the others. There’s no cost for gas for using this feature to create and market NFTs. This is essentially a way to ensure that you receive the maximum profits when you sell because you won’t need to spend on any additional charges.

There aren’t many NFT marketplaces provide this feature, and it is great for you to earn a high return from your portfolio.

Referral Program

A Referral Program is another unique aspect of OpenSea to take note of. Like traditional online marketplaces that offer rewards by referring a friend to OpenSea! If you invite a friend to join OpenSea and then purchase an NFT from the site, you’ll receive 2.50% of the sale amount, letting you earn more money by this method.

Other NFT marketplaces don’t have this kind of feature either and that’s another advantage OpenSea is able to offer over other NFT marketplaces.

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Mobile Application

There is an OpenSea mobile app, but it is mainly used to browse through the marketplace. It isn’t able to purchase or sell anything while you browse through the listing.

OpenSea’s mobile apps are available for both iOS as well as Android. Although you aren’t able to purchase or sell anything, you can still browse through the selections you’re looking for on the move.

Crypto Exchange Platforms

Numerous cryptocurrency exchange platforms are available for you to use You can also exchange your fiat money for cryptocurrency on these platforms. Should I Make Nft Art

You can exchange your fiat money via the credit card, or Paypal through these trusted sites to exchange it for crypto:

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

All of them have the option to exchange for ETH that is the standard crypto payment in OpenSea.

Crypto Wallets

Although OpenSea is an NFT marketplace open to all forms of crypto, wallets are nevertheless more compatible than other. Since it is built on the ETH blockchain, any wallets which are part of this network are appropriate for this site.

Here’s a list different crypto wallets which you can use with OpenSea:

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

*Note: Compatible crypto wallets can be seen on OpenSea’s FAQ page. Each one has its own set of limitations like easy registration, only mobile usage, and the function to buy cryptocurrency using the credit card. Should I Make Nft Art

To learn more about it, you can check their FAQs to get a rundown of how you can start and what other crypto wallets are compatible with OpenSea.

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Pros and Cons of OpenSea

Like many crypto marketplaces every one of them has advantages and drawbacks. OpenSea isn’t an exception to this. You can read about its pros and cons here:

Pros

  • Mobile apps available for iOS and Android.
  • Smart contracts are utilized for transactions.
  • Security at the highest level with the help of blockchain.
  • The best option for beginners to the crypto world and NFTs.

Cons

  • Allows royalties 10% to artists (low royalties).
  • You cannot buy or sell products via this mobile application.
  • Only supports cryptocurrency as its form of payment.
  • An Crypto digital wallet must be used for this marketplace.

Pricing

OpenSea is available to anyone who has crypto coins in their cryptocurrency wallets. When you are a seller, OpenSea takes a 2.5% portion of commission fees to all the sellers who are on this platform. However, overall, you will quickly regain that when you are actively selling since there’s no extra charge for it.

Frequently Asked Questions Should I Make Nft Art

What is OpenSea?

OpenSea can be described as an NFT marketplace that is designed to offer artists a way for selling their artwork online and receive cryptocurrency as a form of payment. It’s a great platform for artists using the platform to market NFTs because of its zero gas costs and the low commission rate that you have to pay.

You can shop and browse an array of digital goods in this NFT marketplace and you must go through it!

Is OpenSea legitimate and secure?

The short answer is yes! OpenSea has been a trusted marketplace since it was established in 2018. Since its system is built on a blockchain that is secure, you can say that your transactions are safe and secure.

In addition as a seller you’ll be verified when you have built up your credibility. A blue checkmark is placed 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 protected.

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 considered to be a reasonable amount compared with others NFT marketplaces.

What cryptocurrency is accessible in OpenSea?

Ethereum (ETH) can be commonly utilized on this website and many others to accommodate many 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 access OpenSea.

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

OpenSea only allows cryptocurrency exchanges through its website. You can easily purchase or sell cryptocurrency through trusted platforms with fiat money. All you need to do is connect your credit card or Paypal to complete the exchange.

Does OpenSea have a desktop/mobile app?

As previously mentioned, there is definitely an official mobile app by OpenSea available for both iOS or Android. Install it from their app store, and begin exploring the collection now!

A version for desktops that OpenSea can be downloaded via WebCatalog. In the desktop application, you can manage multiple accounts as well as receive alerts on any updates that affect your account while 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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