If you've heard of NFTs at least once in your life, you probably know the name OpenSea. This platform, or marketplace, is simply THE reference in terms of NFT today. It brings together the largest collections and is growing rapidly to offer an easy, fast and cheapest possible service to sellers and buyers alike.
OpenSea : the platform raised to the top of the NFT ocean
In the big world of NFTs, OpenSea is arguably the biggest ocean liner in existence today. It’s simple, it’s a bit like the Amazon of NFTs.
Launched in 2017 by two New Yorkers, the platform saw its first moments of international glory in 2021. Indeed, if we are to believe Google Trends (search trend indicator), NFTs were, as well as OpenSea, a totally unknown world before the year 2021.
This year 2021 is marked by a strong interest in the crypto world from a growing public. NFTs are no exception and experience exceptional spotlighting.
Overnight, everyone wants their NFT and is ready to do anything to snatch these recently known virtual images.
In this fury, a platform was waiting for this notoriety and did not miss the call : OpenSea.
It has simply been the go-to platform in the middle of this boom. It must be said that she had convincing arguments that allowed her to be highlighted. She was already bringing together the biggest NFT projects of the moment.
The best known collections are on OpenSea. Like CryptoPunks, Bored Ape Yacht Club, Doodle, Meebits, etc.
In addition to the most prestigious collections in the industry, OpenSea offers a very easy-to-use and intuitive interface. It is very easy to follow the trends, the history of the collections and even to sell your own NFTs in a few clicks.
How does the platform work? What’s behind it?
Si OpenSea reprend les codes de plateformes comme eBay ou Amazon, il faut garder en tête qu’elle vend des objets virtuels qui se trouvent sur des blockchains. Cela signifie que derrière ses allures de marketplace facile à prendre en main, c’est tout un monde de réseaux, d’algorithmes et de crypto-monnaies qui doit s’articuler.
If OpenSea uses the codes of platforms like eBay or Amazon, it must be kept in mind that it sells virtual objects that are on blockchains. This means that behind its easy-to-use marketplace looks, a whole world of networks, algorithms and cryptocurrencies must be articulated.
Originally, OpenSea ran on the Ethereum network. Which means :
The NFTs that were selling were hosted on the Ethereum blockchain
You had to connect an Ethereum wallet to connect to the platform
You had to pay with ethers (ETH) for your NFTs
The famous NFT marketplace then opened up to the Solana network and extended its accessibility. Today, OpenSea supports Ethereum, Solana, Polygon and Klaytn blockchains.
This basically means that the collections are hosted on a particular blockchain and to get a particular token you have to pay for it in the crypto that corresponds to the blockchain.
This diversity allows artists to choose the blockchain they prefer. For example, one of the major drawbacks of the Ethereum network that has caused a lot of problems is the amount of gas fees.
Gas fees are the network fees that arise from the “blockchaining” of a token. On the Ethereum network, these fees are very high and they can discourage a seller or a buyer from making a transaction. These costs may be borne by the buyer or the seller, at the option of the seller.
To interact with the site and start buying or selling NFTs, you must “log in” to the site. It works like on decentralized protocols, everything happens with your wallet.
Your account is linked to the wallet with which you connect (Metamask, Phantom, Coinbase Wallet, etc.).
Create your own NFTs on OpenSea
On OpenSea, it is very easy to buy NFTs but also to create them! Indeed, in a few clicks, you can put your works up for sale on OpenSea.
In reality, to sell an NFT, you just need to have any file and put it on a blockchain. OpenSea is the intermediary platform between you and the blockchain.
If you have an image or sound file that you want to “transform” into NFT, it will only take you a few minutes.
On the platform, go to the “Create” page and follow the few steps to put your first NFT on sale.
Buy NFTs on OpenSea
To buy NFTs on OpenSea, it’s also very simple. The procedure is the same as the one mentioned above. Go to the platform and start by logging in using a wallet or a proposed solution.
When you are logged in to the platform, all you need to do is navigate through the NFT collections.
To do this, you have several options :
The main search bar if you know exactly the collection or the token you want to acquire
The “Explore” button which allows you to discover collections according to certain criteria
The “Browse by category” feature on the homepage which allows you to filter collections by category such as “Art”, “Collectibles”, “Domain Names”, “Music”, etc.
On OpenSea, it is also possible to buy domain names related to Web3. Extensions like .ens, .bit, .crypto.
To buy an OpenSea NFT, go to the page of the NFT you have chosen.
Vous avez alors le choix entre “Buy now” (acheter tout de suite) ou “Make offer” (faire une offre). Il y a le choix entre acheter le NFT au prix affiché directement, mais il est aussi possible de faire une offre au propriétaire pour l’acheter à un prix inférieur au prix actuel. En cas d’offre, l’ordre d’achat est déjà acté. C’est-à-dire que si le propriétaire accepte, la vente a lieu directement.
You then have the choice between “Buy now” (buy now) or “Make offer” (make an offer). There is the choice between buying the NFT at the displayed price directly, but it is also possible to make an offer to the owner to buy it at a lower price than the current price. In the event of an offer, the purchase order is already recorded. That is to say, if the owner accepts, the sale takes place directly.
⚠️ This article is published for informational purposes and should not be considered as investment advice. Crypto-currency trading involves risk and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and shall not be held liable, directly or indirectly, for any damage or loss caused as a result of using any goods or services highlighted in this article. Investments related to crypto-assets are risky by nature, readers should do their own research before taking any action and only invest within the limits of their financial capabilities. This article does not constitute investment advice.
Web editor for many years and SEO specialist, Thomas became an editor for InvestX when the site was launched. Passionate about the field of crypto and Web3, Thomas has made it his mission to deliver maximum value and introduce readers to the world of blockchains, considered for him as the world of tomorrow.
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