Looking for how to sell NFT on Opensea? well stick to this post for you are at the right place. OpenSea is a decentralized digital asset marketplace. It is a website where users may purchase, sell, and trade non-fungible tokens (NFTs).
It is also a digital asset market, with hundreds of game assets, antiques, art, digital land rights, and other items available. We'll show you how to sell your NFT on OpenSea in this guide. Let's get this party started!
What Is An NFT?
A non-fungible token (NFT) is a digital asset that symbolizes ownership of something else. For example, if you own a home, you might purchase an NFT representing ownership of that home. OpenSea is a non-fungible token exchange where users can buy, sell, and trade tokens (NFTs).
This means that when someone purchases the NFT from you, they become the owner of the house.
This differs from other types of digital assets, such as cryptocurrencies, in that cryptocurrencies reflect ownership of money rather than actual property.
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Why Use NFT Tokens Instead of Other Digital Assets?
There are numerous reasons why individuals prefer to use NFT tokens over cryptocurrencies. To begin with, there are several advantages to adopting NFT tokens rather than cryptocurrencies.
NFT tokens, for example, are considerably easier to transfer than cryptocurrencies. As a result, you won't have to deal with transferring them through exchanges or dealing with their volatility.
Furthermore, because NFT tokens use blockchain technology, they are more safe than cryptocurrencies. As a result, they are suitable for holding vast amounts of value.
Finally, unlike cryptocurrencies, NFT tokens are more malleable. They can be used for a variety of purposes, including games, collectibles, virtual products, and even real estate.
So, if you wish to raise money by selling NFT tokens, consider doing so on the OpenSea platform!
How to Sell NFTs On OpenSea?
The first thing you should know is that the OpenSea platform features a very simple and easy-to-use interface, making it ideal for newcomers.
The second thing you should know about this platform is that it supports two different sorts of transactions:
1.Tokenized transactions, which are analogous to Ethereum tokens;
2. Transactions that are not tokenized, such as Bitcoin payments.
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Step 1: Setup the Profile on OpenSea
- Open the website OpenSea.io
- Click Profile after selecting your profile image in the top right corner of OpenSea.io.
Step 2: Choose the NFT
- Choose the NFT that you want to sell from your wallet. Alternatively, upload the NFT you intend to sell on OpenSea.
Step 3: Begin Sale
- First, navigate to the listing page.
- Then, in the upper right corner, click Sell.
Step 4: Setting of the Sale Price
- You will be directed to the listing page, where you can configure the sale price and type.
Step 5: Choose the Type of Sale
- A "Fixed Price" sale is one in which the price remains constant.
- The price is set at 1 ETH
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Step 6: Choose Deal Time
- You can also choose how long the offer will last.
- The default settings are one day, three days, or one week.
Step 7: Create a Collection
- You can also include the item in a bundle (which collects NFTs from many collections)*.
Step 8: Add a Specific Address
- Finally, you can choose to reserve the item for a certain buyer.
- Simply enter their address into the "Reserve for a specific customer" form at the bottom of this page.
How Can I Make Money With OpenSea?
OpenSea earns money through service fees. When a digital asset is successfully sold through the platform, these fees are paid. You can exchange your NFT tokens for cash.
You can, for example, sell them on exchanges like Binance and KuCoin. The majority of the company's revenue is generated by service fees levied whenever a digital asset is traded on its marketplace.
How Much Does It Cost To Transfer Funds?
You can send money using any ERC20 wallet. The minimum amount to send is one satoshi.
The maximum limit is determined by network congestion. Transaction confirmation takes about 10 minutes on average.
How Do I sell on OpenSea without paying gas?
If you want to sell your tokens in fiat currency (for example, USD), you must pay a tiny fee known as gas.
OpenSea imposes a transaction fee of 0.5 percent. If you don't mind paying a little extra for your tokens, you can always sell them on one of their partner exchanges.
You can, for example, utilize Changelly to transfer your NFT to BTC or ETH. You can then swap these cryptocurrencies for fiat currency.
If you're familiar with the Ethereum blockchain, you'll see that OpenSea's gas fees are the same as transaction fees.
As a result, while transferring crypto to a different wallet or purchasing an NFT on OpenSea, you need have enough ETH in your wallet to cover the first transaction as well as the gas expenses.
OpenSea, on the other hand, has introduced Polygon, a new marketplace where you may sell NFTs without incurring any gas costs.
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How to Sell on OpenSea Without Paying Gas?
You may also use Polygon to sell on OpenSea without paying the gas expenses. If you sell with ETH, you must pay a gas cost; if you sell using Polygon (MATIC), you do not have to pay a gas fee.
Follow the steps below to build a Polygon collection:
Step 1: Click on your profile picture and select “My Collections.”
Step 2: Select "Make a collection."
Step 3: Include the logo, banner, description, and royalties.
Step 4: You will be able to select a blockchain for the creation of NFTs. Choose "Polygon." using the dropdown menu.
Now. Provide all NFT details and sell without paying the GAS cost.
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Conclusion on How to Sell NFT on Opensea
We hope this article has helped you understand what OpenSea is and how to make money with it. OpenSea is an excellent platform for selling NFTs. On this marketplace, you may sell crypto stickers and other digital assets.
However, if you're not careful, this could end up costing you a lot more. Make sure to open your account by keeping an eye on the gas prices.
Aside from that, OpenSea's active community implies your NFT will receive a lot of attention when compared to other marketplaces.