What Is A Nft

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The crypto currency market is in a boom right now and you’re probably thinking where to invest your crypto coins. Markets have popped up all over the digital web designed to buy and sell NFTs via cryptocurrency! OpenSea is one of them and is worth looking into.

If you’re interested in crypto, you’ve likely heard of OpenSea prior to this for a valid reason. It’s now one of the largest and most popular marketplaces for users of cryptocurrency due to its safety and speedy transactions.

So, hop on board and discover what you can do with OpenSea as well as examining the NFTs available to view!

open-sea-logo

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

OpenSea as an NFT Marketplace What Is A Nft

The aim to create OpenSea was to offer an online marketplace for artists to upload commissions, without having to pay any additional charges. It also has additional functions that let you sell your art without too many problems.

For registration, you won’t have to give any personal information about yourself. All you have to connect your crypto wallet and voila! You have an account with OpenSea! It’s as simple as that without going through many hurdles as you walk into NFTs.

OpenSea: Blockchain

The most well-known cryptocurrency used 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 using the Polygon blockchain, which allows for low-cost and quicker trading.

With these two types of blockchains that are available you can pick which one you want to publish your NFT as a seller. This ensures the safety of your NFT and the people who want to purchase it. All transactions are made by using the blockchain, which is why you need to consider where to upload it.

OpenSea: NFT Collection Galore

At OpenSea it’s an online shopping mall that is endless where you can trade in your cryptocurrency or NFTs for other NFTs. You can buy anything just a domain name, to a piece of art from an artist you admire. Anyone can be a seller, but it takes some time for anyone to become an established seller.

There are a variety of NFTs of NFTs available at OpenSea and you can become a part of that! You can set up your own market here, along with finding NFTs that you would like to purchase yourself.

What Is A Nft

> > Click Here to Explore OpenSea < <

What is an NFT?

A recent change in the cryptocurrency industry, the term “NFT” has been going around so long on the internet that many millennials are familiar with it , but aren’t exactly sure what it actually means. Let’s take a look at what NFT is for those who are just beginning to get started in cryptocurrency.

One of the latest ways you can buy can be an NFT. A NFT is a token that is non-fungible that is very unique and can’t be changed. This can be a piece of rarity like authentic baseball cards or a uncommon vinyl record.

There’s no limit on what an NFT can be since it’s a non-fungible thing that you can sell online. It is simpler to just imagine as an NFT being a virtual collectible which is only paid in cryptocurrency.

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 you’re putting it up for sale. Usually, this becomes official when you have filled in the proper information regarding the NFT and upload it to the marketplace.

On OpenSea It’s a very simple process to mine your NFTs by going to the store and create a collection! Input the appropriate and correct information regarding your NFT and then select what type of settings you want to use it with (e.g. blockchain and payment tokens). After that then you’re able to upload it, if it’s within the limit of 100MB.

It is possible to wait and see how the transactions go from now to determine whether OpenSea is the right marketplace for you.

cryptocurrency-coins

> > Click Here to Explore OpenSea < <

What NFTs can you find here?

In this moment you’re probably asking yourself which kind of NFT can be found here and what kind of NFTs you can sell should you decide to go down that path. The type of NFT it can be is indefinite since there’s a broad range of options for how to do it.

It is possible to sell trade cards, digital goods, game assets, domain names, and some physical items! Consider what you believe will bring the greatest rewards by experimenting with OpenSea.

OpenSea: Collection Manager Feature

This Collection Manager function is the one that differentiates OpenSea from other companies. There are no gas costs when you utilize this feature to mint and sell NFTs. This means you’ll receive the maximum profits when you start selling because you won’t need to spend on additional fees.

Not many NFT marketplaces provide this feature, which is why this is great for you to receive high profit from your NFT collection.

Referral Program

This Referral Program is another unique aspect of OpenSea to admire. Similar to traditional online markets there are benefits when you refer your friend to OpenSea! If you encourage a friend join OpenSea and purchase an NFT from there you’ll be rewarded with 2.50% of the sale amount, letting you make more money from this act.

Other NFT marketplaces do not have this feature, so that’s just another advantage OpenSea has over the other marketplaces.

cryptocurrency-iphone

> > Click Here to Explore OpenSea < <

Mobile Application

There is an OpenSea mobile app, but it is mainly used for perusing through the marketplace. You can’t buy or sell anything as you browse through the listing.

The mobile apps from OpenSea are accessible on both iOS in addition to Android. Even though you can’t buy or sell something, you can look through the options you’re interested in on the go.

Crypto Exchange Platforms

Various crypto exchange platforms are for you to use You can also trade your fiat currency for cryptocurrency on these platforms. What Is A Nft

You can swap your fiat currency using a your credit or debit card as well as Paypal via these reputable websites for cryptocurrency:

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

All of these have the option of exchange for ETH which is the most common cryptocurrency payment option in OpenSea.

Crypto Wallets

Although OpenSea has been described as being an NFT marketplace open to all kinds of cryptocurrency, the wallets nonetheless more compatible than others. Because it is based using an ETH blockchain, all wallets that share that network will be suitable for this site.

Here is a list of different crypto wallets you can use in OpenSea:

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

*Note: Compatible crypto wallets are available on the OpenSea FAQ page. Each wallet has its own restrictions like easy registration, mobile-only usage as well as the capability to buy cryptocurrency using the credit card. What Is A Nft

To know more about it, you can check their FAQs for an overview of how you can start and also what other crypto wallets are compatible with OpenSea.

ethereum-coins

> > Click Here to Explore OpenSea < <

Pros and Cons of OpenSea

As with many other crypto markets each one comes with advantages and disadvantages. OpenSea isn’t an exception to this. It is possible to read about its pros and pros here:

Pros

  • Mobile apps are available for iOS as well as Android.
  • Smart contracts are utilized for transactions.
  • Security at the highest level with the help of blockchain.
  • Ideal for those who are new to the crypto world and NFTs.

Cons

  • Allows royalty rates of up to 10% for artists (low royalty).
  • You cannot buy or sell products on our mobile apps.
  • Only accepts cryptocurrency as a type of payment.
  • An Crypto wallet is required for this marketplace.

Pricing

OpenSea is accessible to everyone who has crypto coins in their crypto wallets. If you’re 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 recover this amount if you actively sell because there is no additional fee for it.

Frequently Asked Questions What Is A Nft

What is OpenSea?

OpenSea is an NFT marketplace that seeks to provide artists a platform to market their work online, and to accept cryptocurrency as a method of payment. It’s a great platform for artists using the platform to market NFTs due to its no gas costs and low commission fee rate you must pay.

You can browse and purchase an array of digital items on the NFT marketplace and you must check it out!

Is OpenSea real and is it safe?

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

Additionally as a seller you will be verified after you build up your reputation. A blue checkmark will be assigned on your account or any collection you’ve uploaded to ensure the safety of every customer. The team at OpenSea regularly checks the contents to ensure users are protected.

How can I earn royalties from OpenSea?

However, as an artist, you’ll be paid only 10 percent of the royalties when you have uploaded the NFT. This is believed to be a reasonable amount compared with others NFT marketplaces.

What are the cryptocurrency options offered in OpenSea?

Ethereum (ETH) is commonly used on this site and other sites to provide more cryptocurrency users. These are other cryptos you can purchase on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

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

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

OpenSea is the only platform that allows cryptocurrency exchanges through its website. You can easily purchase or sell cryptocurrency on secure platforms that accept fiat money. All you need 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’s an official mobile app from OpenSea that is available for iOS as well as Android. Install it from their app store and begin exploring the collection now!

There is also a Desktop application that OpenSea that can be downloaded through WebCatalog. In the desktop application you are able to manage multiple accounts and receive notifications on updates regarding your account from the desktop.

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

block-chain

> > Click Here to Explore OpenSea < <

What Is A Nft?

opensea-review

The cryptocurrency market is on the rise, and you’re probably wondering where to invest your crypto-coins. Marketplaces are popping up all over the internet, designed to purchase and sell NFTs using cryptocurrency! OpenSea can be one, and it’s worth a look.

If you’re familiar with cryptocurrency you’ve probably heard about OpenSea prior to this for a valid reason. It has become one of the largest and most popular marketplaces for users of cryptocurrency due to its security and rapid transactions.

So, hop on board and let’s explore the possibilities of OpenSea and also see what NFTs you can view!

open-sea-logo

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

OpenSea as an NFT Marketplace What Is A Nft?

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

In terms of the registration process, you don’t have to give all of your personal details. All you need to do is connect your crypto wallet and voila! You have an account on OpenSea! It’s as simple as that and without many hassles when you enter into NFTs.

OpenSea: Blockchain

The most popular cryptocurrency to use in the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain technology, and this is used to carry out the majority of processes. It also functions with the Polygon blockchain to ensure low-cost and quicker trading.

With these two types of blockchains you can pick which one you want to upload your NFT on as a seller. This ensures the safety of your NFT and those who wish to purchase 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 like an endless online marketplace that lets you trade your cryptocurrency or NFTs in exchange for other NFTs. You can buy anything the simplest domain name to an official artwork from an artist that you admire. Anyone can become a seller however it takes a while for anyone to be a reputable one.

There’s a huge selection from the selection of NFTs available at OpenSea and you could also be a part of the collection! You can set up your own marketplace there, and also find NFTs you want to purchase for yourself.

What Is A Nft?

> > Click Here to Explore OpenSea < <

What is an NFT?

In a recent development for the cryptocurrency industry”NFT,” a popular term in the crypto industry “NFT” has been going around for so long on the internet that a lot of millennials are familiar with it but aren’t exactly sure what it is. Let’s break down what an NFT is for anyone who is new in cryptocurrency.

One of the newest things you can purchase your cryptocurrency is an NFT. A NFT is a non-fungible currency that is very individual and cannot be replaced. This can be an item of any rareness, such as authentic baseball cards or a unique vinyl album.

There is no limit to what an NFT can be since it’s a non-fungible item you’re selling on the internet. In simpler terms, you could simply consider the NFT as a digital item which is only paid in cryptocurrency.

Minting NFTs

Minting is similar to calling for dibs for your personal NFTs. You’re claiming ownership over that particular token/item that you posted to market, as putting it up for sale. Typically, this is official once you fill out the correct information about the NFT and add it on the market.

On OpenSea It’s a very simple process to mint your NFTs by visiting the store and then making a collection to begin! Fill out the proper and accurate information about your NFT and select the type of settings you want for it (e.g., blockchain, payments tokens). Once that’s all done, you can finally upload it to the internet if it’s in the 100 MB limit.

You can watch and see how transactions progress from now to determine whether OpenSea is the best marketplace for you.

cryptocurrency-coins

> > Click Here to Explore OpenSea < <

What NFTs can you find here?

In this moment you’re probably thinking about which kind of NFT can be purchased here, and what you could also sell if you choose to go that route. The type of NFT it is unlimited as there’s a variety of options for how to approach it.

It is possible to sell digital items, trading cards games domain names, even physical assets! Explore what you believe can bring the greatest rewards by trying OpenSea.

OpenSea: Collection Manager Feature

The collection Manager features is one of the things that separates OpenSea from the other options. There’s no cost for gas for using this feature when you mint and sell NFTs. This is essentially a way to ensure that you get the most profit when you begin selling since you won’t need to spend on any additional charges.

Not many NFT marketplaces offer this feature, which is why this can be a fantastic way to make a huge profit from your portfolio.

Referral Program

This Referral Program is a different aspect of OpenSea to take note of. Like traditional online marketplaces that offer rewards by referring someone else to OpenSea! If you refer a friend to join OpenSea and purchase an NFT from there you’ll be rewarded with 2.50 percent of the purchase amount, letting you make more money through this action.

Other NFT marketplaces don’t offer the same feature and that’s another benefit OpenSea has over the other marketplaces.

cryptocurrency-iphone

> > Click Here to Explore OpenSea < <

Mobile Application

There’s an OpenSea mobile application, however it’s mostly used to browse the marketplace. You can’t buy or sell anything while you scroll through the list.

The mobile apps of OpenSea are available on the two platforms of iOS in addition to Android. Even though you can’t buy 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. What Is A Nft?

You can swap your fiat currency using a 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 of exchange for ETH that is the standard cryptocurrency used in OpenSea.

Crypto Wallets

Although OpenSea has been described as being an NFT marketplace that is open to all types of cryptocurrency, wallets are nevertheless more compatible than others. Because it is based around the ETH blockchain, all wallets that share this network are appropriate for this website.

Here is a list of several crypto wallets you can utilize in OpenSea:

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

Note: The compatible crypto wallets can be seen on OpenSea’s FAQ page. Each one has its own set of limitations, such as easy registration, mobile-only usage, and the function to purchase cryptocurrency with a credit card. What Is A Nft?

To know more about it, you can check their FAQs to get a rundown of how you can get started and also what other crypto wallets work with OpenSea.

ethereum-coins

> > Click Here to Explore OpenSea < <

Pros and Cons of OpenSea

Like all crypto markets, each one has advantages and drawbacks. OpenSea isn’t an exception to this. You can read about its pros and pros 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.
  • Ideal for those who are new to the crypto industry and NFTs.

Cons

  • Allows royalties up to 10% for artists (low royalty).
  • You cannot buy or sell products via our mobile apps.
  • Only supports cryptocurrency as its type of payment.
  • The use of a Crypto digital wallet must be used to access this marketplace.

Pricing

OpenSea is available to anyone who has crypto coins in their crypto wallets. If you’re a seller, OpenSea takes a 2.5 percent commission fee for all sellers on the platform. In the end, you’ll easily recover that amount when you sell regularly since there’s no extra charge for it.

Frequently Asked Questions What Is A Nft?

What is OpenSea?

OpenSea is an NFT marketplace that is designed to give artists a chance for selling their artwork online and receive cryptocurrency as a method of payment. It’s an excellent platform for artists using the platform to market NFTs due to its low gas costs and low commission fees which you are required to pay.

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

Is OpenSea legitimate and secure?

The short answer is yes! OpenSea is a reputable marketplace since it was established on the 1st of December in 2018. Since the system it operates on is based on a blockchain and is secured, it is safe to say that your transactions are secure and safe.

Furthermore, as a seller, you’ll be verified when you’ve earned a reputation. A blue checkmark will be assigned on your account or the collection you’ve uploaded to ensure the safety of every customer. OpenSea’s team regularly reviews the contents to ensure users are protected.

How can I earn royalties from OpenSea?

As an artist, you’ll receive only up to 10 percent of the royalties after you upload the NFT. This is believed to be quite low in comparison with other NFT marketplaces.

What are the cryptocurrency options available in OpenSea?

Ethereum (ETH) is frequently used on this site and other sites to provide many more cryptocurrency users. These are other cryptos that you can buy on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

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

Which are the accepted payment options for OpenSea?

OpenSea does not allow cryptocurrency exchanges on its website. You can easily purchase or trade cryptocurrency using trusted platforms with fiat money. All you have be able to connect is your credit or Paypal to complete the transaction.

Does OpenSea have a desktop or mobile app?

As we mentioned earlier there’s an official mobile app from OpenSea for both iOS and Android. Download it at their respective app store, and you can start exploring the collection right now!

There is also a Desktop application that OpenSea which can be downloaded from WebCatalog. In the desktop application you are able to manage multiple accounts and get notifications about updates to 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/).

block-chain

> > Click Here to Explore OpenSea < <

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