OpenSea was one of the first NFT marketplaces to launch, and it offers a large library of material at a variety of rates. The site sells a wide range of NFTs, from digital art to 3D souvenirs and video game props. It is particularly welcoming to beginners, making it simple to join. The site is quite user-friendly for people new to NFTs, and it features one of the greatest browsing experiences seen from a large marketplace. It is also the first NFT marketplace to publicly test a free creator creation method.
Create an account
If you’re buying or selling an NFT, the first thing to do is to create an account.
- Navigate to the upper right-hand corner of the OpenSea homepage and click on the wallet icon. OpenSea will urge you to connect to your preferred wallet service. Your account will be activated once you’ve completed these steps.
- OpenSea will take you to your account’s profile page when you’ve connected a wallet, where you may see any NFTs you’ve gathered, made, or favorited on the site for possible purchase.
- Until you modify your account by going to the settings cog to the right of your profile picture, your default account will be “Unnamed.”
- At this point, OpenSea will present you with an additional security prompt, requiring you to “Sign” a brief agreement before proceeding. After you’ve completed this question, you may personalize your profile. Choose a username, write a brief profile, and link your account to a secure email address.
- Select the NFT you want to sell from your wallet from your profile.
- In the top right-hand corner of the NFT page, click the “Sell” icon.
- You’ll be asked to select the price, auction type, and other settings here. You may make your NFT a fixed-price sale or start an auction with a start price, price threshold, and scheduled expiration, among other options.
- Click the “Post Your Listing” button once you’ve figured out how you want your sales listings to look.
- There are no upfront expenses for offering one of your NFTs for sale; however, there are some fees that apply once the transaction is completed. If this is your first time selling, you’ll also be asked to initialize your wallet. If the NFT you’re selling wasn’t minted on OpenSea, there may be a few more reviews prompts to go through.
- After that, you’ll be prompted to complete the listing, double-check all the details, and publish your NFT on the marketplace.
- Return to your profile and click the “Activity” option on the left-hand sidebar to see all of the NFTs you have for sale.
Sellers have two options: they may establish a fixed price for an NFT, or they can hold an auction where any number of bidders can make offers on the NFT. They can also use both options. We’ll go through each of these sorts of purchases.
Purchasing items at a set price
- Explore the marketplace for an NFT that you’d want to buy.
- Examine all of the information you’ve gathered regarding the NFT. There may be certain qualities that are more valuable for rarer and collectible NFTs. If you want to delve into the trading element of the marketplace, you’ll also want to look at the price history.
- Click the “Buy Now” button when you’re ready to make a purchase.
- Before completing your purchase, OpenSea may ask you to review a few pieces of information about it. This is to guarantee that you precisely know what you’re getting and to protect you from scammers who create fake copies of popular NFTs.
- If everything appears to be in order, you’ll be sent to a checkout pop-up where you may verify the total amount of your purchase. You’ll be asked to agree to OpenSea’s terms of service, after which you can complete your purchase by clicking the “Checkout” button.
- When you click “Checkout,” your wallet will open, and you’ll see a total cost that includes any applicable gas costs based on your blockchain selection. You’re now the happy owner of an NFT after clicking the “Confirm” button.
- Return to your profile and click “In Wallet” on the left side of the screen to see the NFT in your wallet.
Purchasing by bidding
There will be an auction option for some NFTs. This allows sellers to establish a minimum price barrier and compete with other bidders. Making an offer is a straightforward procedure.
- Locate an NFT on which you’d want to make a bid.
- To ensure that you may place a bid, review all of the information on the NFT page, including existing offers. Bids must be at least 5% greater than the prior highest offer.
- On the NFT page, click the “Make Offer” option. Ethereum (ETH)/WETH, USDC, and DAI are the main currencies.
- You could be asked to double-check some details on the NFT to ensure it’s genuine.
- Choose the currency in which you want to make your offer. If you offer a currency with which you have never made a transaction, there may be one-time costs.
- Enter the value of your offer and the date it will expire. On non-competitive NFT auctions, the expiration date allows you to withdraw your offer at that time, giving the seller time to decide whether or not to accept your offer.
- Return to your profile and click the “Offers” link in the led-hand sidebar to view a list of all offers you’ve extended.
- You’re done once you’ve made an offer. All you have to do now is sit back and wait for the seller to accept your offer. Of course, if you’re putting an offer on an NFT you really want, and there’s a lot of activity, you’ll want to hang around so you can keep increasing your offer.
NFT is the newest sensation, and it appears like everyone is selling or purchasing it. OpenSea is the largest and was the first platform to be established for trading NFTs. The process of selling and buying art on the OpenSea platform is easy, even for newbies. The platform is also easy to navigate around.