When Did Nft Art Start

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The cryptocurrency market is on the rise, and you’re probably wondering what you can do with your crypto coins. Markets have popped up across the web that allow users to sell and buy NFTs using cryptocurrency! OpenSea is one of them, and it’s worth checking out.

If you’re interested in crypto, you’ve probably heard about OpenSea before for a good reason. It’s now one of the biggest and leading marketplaces among cryptocurrency users because of its security and quick transactions.

So, hop on board and discover the possibilities of OpenSea and also see the NFTs available to view!

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

OpenSea as an NFT Marketplace When Did Nft Art Start

The goal of OpenSea was to provide an online marketplace for artists to easily upload their commissions, without having to pay any additional fees. There are additional features that allow you to sell your work without having to deal with many difficulties.

In terms of registration, you don’t need to give all of your personal details. All you need to connect your crypto wallet–and voila!–you have an account with OpenSea! It’s as easy as that, without much hassle as you step into NFTs.

OpenSea: Blockchain

The most widely-used cryptocurrency to use within the OpenSea market is Ethereum (ETH). The marketplace is built on the Ethereum blockchain system, and this is used to carry out the majority of processes. It also operates with the Polygon blockchain, which ensures lower costs and faster trading.

With these two types of blockchains, you can choose which one you’d like to transfer your NFT to as a seller. This ensures the safety of your NFT as well as those who wish to purchase it. All transactions will be made using this blockchain, and you must consider where to upload it.

OpenSea: NFT Collection Galore

At OpenSea, it is like an endless online mall where you can trade in your NFTs or cryptocurrency for other NFTs. It is possible to purchase anything just a domain name, to a piece of art by an artist you admire. Anyone can be a seller however it takes a while for anyone to become an established seller.

There’s a huge selection from the selection of NFTs available at OpenSea, and you can 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.

When Did Nft Art Start

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What is an NFT?

In a recent advancement for the cryptocurrency industry,”NFT,” a popular term in the crypto industry “NFT” has been going around for so long on internet that many millennials have heard of it but aren’t sure exactly what it is. Let’s take a look at what NFT is for any beginners in the field of cryptocurrency.

One of the latest ways that you can buy with cryptocurrency can be an NFT. An NFT is a non-fungible token which is extremely individual and cannot be changed. It can be a piece of rareness, such as rare baseball trading cards in mint condition or uncommon vinyl record.

There is no limit to what an NFT could be, since it’s a non-fungible object that you can sell on the internet. In simpler terms, you could simply think of the NFT being a virtual collectible that is paid for using cryptocurrency only.

Minting NFTs

Minting is like calling the shots to your NFTs. You’re claiming the ownership of the particular item you uploaded on the market place, but you’re selling it. Usually, this becomes official when you have filled in the correct information about the NFT and finally submit it for sale on.

On OpenSea it’s a straightforward process to mine your NFTs by going to the store and making a collection to begin! Fill out the proper and accurate information about your NFT and choose what kind of settings you want for it (e.g., blockchain, payment tokens). After you’ve completed the process, you can finally upload it to the internet if it’s in the 100 MB limit.

You can wait and observe how the transactions go from here on out to determine if OpenSea is the marketplace for you.

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What NFTs are available here?

In this moment, you’re probably wondering the kind of NFTs can you shop for here and what kind of NFTs you can sell should you decide to pursue that route. The type of NFT it isn’t limited since there’s a broad range of how you can approach it.

You can be selling digital items, trading cards game assets, domain names, and some physical items! Consider what you believe will yield the most profit by trying OpenSea.

OpenSea: Collection Manager Feature

The Collection Manager feature is what sets OpenSea from the others. There are no gas costs for using this feature when you mint and sell NFTs. This means you’ll get the most profit when you start selling because you don’t need to pay on additional fees.

Not many NFT marketplaces have this feature, which is why this is great for you to make a huge profit from your portfolio.

Referral Program

This Referral Program is another unique aspect of OpenSea to admire. Like traditional online marketplaces there are benefits when you refer your friend to OpenSea! If you invite a friend to join OpenSea and purchase an NFT from the site, you’ll receive 2.50% of the sale amount, letting you earn more cash by this method.

Other NFT marketplaces don’t offer the same feature This is a further benefit OpenSea is able to offer over other NFT marketplaces.

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Mobile Application

There’s an OpenSea mobile app, but it’s mostly for perusing through the marketplace. Unfortunately, you can’t purchase or sell anything while you browse through the listing.

The mobile apps of OpenSea are available for the two platforms of iOS in addition to Android. While you’re not able to buy or sell something, you can at least browse through the selections you’re interested in on the go.

Crypto Exchange Platforms

Numerous cryptocurrency exchange platforms are available at your disposal to convert your fiat money into cryptocurrency through these platforms. When Did Nft Art Start

You can swap your fiat money via 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 them have the option of exchange for ETH that is the standard crypto payment in OpenSea.

Crypto Wallets

While OpenSea can be described as an NFT marketplace open to all types of cryptocurrency, the wallets nevertheless more compatible than others. Since it is built mainly around an ETH blockchain, wallets which are part of the same network are suitable for the site.

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

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

*Note: Compatible crypto wallets are available on the OpenSea FAQ page. Each one has its own set of limitations including simple registration, only mobile usage, and the function to purchase cryptocurrency using a credit card. When Did Nft Art Start

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

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Pros and Cons of OpenSea

As with many other crypto markets every one of them has its advantages and disadvantages. OpenSea isn’t the only one to have this. It is possible to read about its pros and cons here:

Pros

  • Available as mobile apps that are compatible with iOS as well as Android.
  • Smart contracts can be used to perform transactions.
  • High-level security , with the backing of blockchain.
  • Best for beginners in the crypto market and NFTs.

Cons

  • Allows royalties of only 10% to artists (low royalty).
  • Cannot buy or sell through this mobile application.
  • Only supports cryptocurrency as its type of payment.
  • An Crypto account is needed to use this marketplace.

Pricing

OpenSea is available to anyone who has any crypto currency in their crypto wallets. If you’re selling, OpenSea takes a 2.5 percent commission fee for all sellers on the platform. In the end, you’ll quickly recover this amount if you sell regularly since there’s no extra charge for it.

Frequently Asked Questions When Did Nft Art Start

What is OpenSea?

OpenSea can be described as an NFT marketplace that aims to provide artists a platform to market their work online and 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 cost of gas and the low commission rate which you are required to pay.

You can shop and browse a vast collection of digital goods in this NFT marketplace and you must take a look!

Is OpenSea legit & is it safe?

The short answer is yes! OpenSea has been a trusted marketplace since it was founded on the 1st of December in the year of 2018. Since its system is based on a blockchain that is secure, you can declare that transactions are protected and secured.

Additionally as a seller you will be verified after you’ve earned a reputation. A blue checkmark will be assigned to your account or the collection you uploaded to reassure every customer. The OpenSea team reviews regularly the content to ensure that users are safe.

How do I earn royalties on OpenSea?

However, as an artist, you can be paid only 10 percent of the royalties when you upload the NFT. This is thought to be quite low in comparison to other NFT marketplaces.

What is the most popular cryptocurrency accessible in OpenSea?

Ethereum (ETH) has been frequently utilized on this website and numerous others to cater for many more crypto users. Here are the other cryptocurrencies you can purchase on the OpenSea marketplace:

  • WETH
  • USDC
  • DAI.

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

Which are the accepted payment options for OpenSea?

OpenSea only allows cryptocurrency exchanges on its website. It is easy to buy or sell cryptocurrency on reliable platforms using fiat currency. All you need just connect your debit or credit card to Paypal to complete the exchange.

Does OpenSea has a mobile or desktop application?

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

The desktop application for OpenSea which can be downloaded from WebCatalog. With the desktop application you are able to manage multiple accounts as well as 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/).

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