How to sell NFT on OpenSea is one of the important topics that often appears among Cryptocurrency investors. No wonder, because OpenSea is the largest NFT marketplace in the world.
The spread of the NFT trend in the world and also in Indonesia has made many people more aware of the potential money from this industry.
Want to try selling your art on NFT marketplace? Calm down, because we will explain in full about how to sell NFT on OpenSea through this article.
What is OpenSea?
For those of you who don’t understand, OpenSea is a buying and selling platform, only the products being traded are digital assets that are protected by blockchain.
OpenSea itself is the first and largest NFT market in the world. There are already more than 300 thousand users with more than 34 million NFT on the OpenSea marketplace
From domain names to artwork to Cryptokitties, all digital assets can be traded through this platform. The transaction volume on OpenSea has been recorded at more than 4 billion US Dollars, you know!
The majority of OpenSea visitors use Ethereum crypto currency to transact. However, OpenSea also provides other payment tokens, such as $UNI and $WHALE.
You are also required to connect your wallet account to be able to exchange USD currency into the cryptocurrency of your choice. One of which is MetaMask ever.
Well, to sell NFT, of course you must first make your own NFT. For the complete method, we will discuss it in the following article.
How to make NFT is very easy and simple. Suitable for those of you who want to sell NFT art as passive income or even main income!
How to Sell NFT on OpenSea
After you finish creating your own NFT, then how do you sell your artwork to an NFT marketplace like OpenSea?
Don’t worry, it’s not hard, really! We will explain in detail about how to sell NFT on OpenSea, complete with illustrations to help you.
Check it out!
- Go to site OpenSea whose address is OpenSea.io and login using your account.
- You must have an Ethereum Wallet to register on OpenSea. You can choose MetaMask, CoinBase Wallet, and others.
- Click on the profile picture at the top right of the page, then click Profile
- Select the NFT you want to sell from your Wallet or create your own NFT.
- After selecting, click Sell in the top right corner to take you to the listing page.
- On the listing page, you can set the price and the type of sale you want.
- If you want to sell at a fixed price, you can choose Fixed Price.
- You can also sell items by auction by selecting Timed Auction.
- You can also set how long the item will be listed. The default option is 1 day, 3 days or 1 week.
- There is an option to sell several NFTs at once in 1 bundle by selecting Sell as a bundle.
- You can also sell NFT to certain buyers by turning on Reserve for specific buyers, then paste buyer’s address in the column provided.
- Seller charged Service Charge 2.5% and Creator Royalty 10%.
- To complete your listing, you need to initialize your wallet first.
- If you have finished registering NFT, a confirmation message will appear as below. You can also share it on social media so that your NFT sells quickly.
How Much Does it Cost to Sell NFT on OpenSea?
You have to pay 2 fees before you can sell your NFT in the marketplace, namely Service Charge and Creator Royalty.
It should be noted that the fee is paid in Ethereum. Therefore, the price will vary according to the US Dollar exchange rate.
Like minting, these 2 fees also have to go through the Ethereum blockchain so it takes energy to do so.
To compensate for the electrical energy and resources used, you also have to pay Gas Fee. For now, the initial transaction fee starts from 70 to 300 US Dollars.
Meanwhile, the second transaction has a lower cost, namely: 10-30 US Dollars. This fee depends on the Gas Fee, which changes every day.
Ideally, you should look for days where the Gas Fee is under 100 US Dollars to initialize the wallet. With it, you can save more costs.
Actually, there is how to sell NFT on OpenSea for free without paying Gas Fee, namely through a marketplace called polygon which was also developed by OpenSea.
How to Sell NFT Free Without Gas Fee on OpenSea
Besides having a paid marketplace, it turns out that OpenSea also provides a free gas fee marketplace, you know! The marketplace is polygon.
Then, how how to sell NFT free without gas fee at Polygon? Actually, the steps are not much different from selling NFT on OpenSea. The difference is, we have to select Polygon when we select the blockchain option to create the NFT.
You can see the full method in the guide below:
How to Create a “Collection” in a Polygon
- Click the OpenSea profile icon in the top right corner.
- Click “My Collections”, then click “Create a collection”.
- Enter your logo, description, banner, social media links, and set royalties.
- This is where you will choose the blockchain to create the NFT. Select “Polygons”.
- You can already create NFT after creating a Collection!
How to Create NFT in Polygon
- Click “Add item” in the top right corner.
- Upload your work (image, video, audio, or animation, max size 100MB) and fill in all the fields provided.
- You can request your work by increasing the number of “Supply”.
- Click the “Create” button to create the NFT.
- Your first free NFT gas fee at Polygon is over!
How to Sell NFT on Polygon
- Go to your NFT page, then click “Sell”.
- Fill in the fields to complete data, such as selling price, currency, and so on.
- Click “Complete listing” and complete the listing.
- Click “Sign”. Your crypto wallet will then ask you to sign again.
- Click “Sign” again to complete authorization.
- You will get a confirmation “Your NFT is listed!”. Congratulations, your free NFT gas fee has been listed!
In addition to the minting benefits and free gas fees, you must also know the shortcomings of Polygon as an NFT marketplace. In terms of traffic, Polygon will definitely be smaller than its parent, OpenSea, so the chances of your NFT being sold will decrease.
8 Steps – How To Buy Bitcoin
The final word
That’s a full review of how to sell NFT on OpenSea easily. You can also have the opportunity to generate additional cash during a pandemic like now after knowing the steps to sell NFT assets here.