Believe it or not, but the metaverse is going to change your life FOREVER!
Who knew that an alien-looking pixelated character could be sold for tens of millions of dollars? Non Fungible Tokens commonly known as NFTs are gaining momentum like never before. Many investors and collectors are going nuts over the latest blockchain craze.
Are you thinking of purchasing your first NFT too? If so, you have just come to the right place.
In this blog, we will cover everything from buying your first NFT to selling it on the biggest NFT marketplaces.
If you have explored the NFT world, you would already know OpenSea by now. It is one of the biggest NFT marketplaces that you need to explore NOW if you have not already. Before diving into our real topic, let’s brush up on the basic information about NFTs and why they are worth millions of dollars.
What are NFTs?
NFTs are Non Fungible Tokens that can not be replaced with something else. They are unique and one of a kind. When we talk about trading a bitcoin with another bitcoin, we get the exact same thing in return, unlike NFTs.
From gaming to brand marketing campaigns, NFTs are widely being used to fulfill all of your business needs as well.
Click Here to learn everything that you need to know about NFTs.
What are #NFTs (non-fungible tokens)
How To Sell Your First NFT On OpenSea?
All you need to know about Gas Fees when selling an NFT on OpenSea!
Selling an NFT on big marketplaces like OpenSea may seem like a tough task to pull off quite easily. But it is quite the opposite. All you need is extensive research and effective strategies to bring home the bacon.
If you have a registered account on OpenSea and have configured wallets, you are ready to start right away. Else, you need to register yourself on OpenSea before beginning.
Step Number 1 – Go to OpenSea.io and log into your registered account. (Make sure that your MetaMask is already connected to OpenSea).
Step Number 2 – Go to your profile by clicking your display picture at the top right corner.
Step Number 3 – Next step is Create and sell. Go to Create Button and and Create New Item (Image, Video, Audio, or 3D Model)
Step Number 4 – Once completed all steps From there, select the option ‘Sell’ and you will be redirected to the listing page.
– Important Tip To Sell Your NFT –
For selling your NFT, you can either set a fixed price or set up an auction. We will suggest you fix a price rate. But remember that this price rate will expire at a certain date.
Why Setting Up A Time Limit Is Important?
A listing can remain active for a period of up to 6 months. Select your price rate and the time limit wisely. It is important to know if you would want to change your NFT’s price or cancel the listing before its expiration date, you will be required to pay an Ethereum gas fee.
To stay away from this hassle, we will recommend you to set your listing for a short duration. And if you wish, relist it whenever you want.
How To Sell Your First NFT On OpenSea At The Best Market Price?
To find the best market price for your NFT, you need to check your NFT’s rarity. Another way is to look at OpenSea’s filters and see the price quotes of other similar NFTs. Carry out extensive market research to select the most competitive price for your NFT.
How To Purchase Your First NFT On OpenSea?
If you are looking to invest in a speculative asset, you should definitely consider buying an NFT. For the past few years, people have been going nuts over the NFT craze. So, how do you actually purchase your first NFT on OpenSea? To find out, keep reading!
Step 1 – Open your browser and search for the OpenSea MarketPlace.
Step 2 – Open your profile and click on the option ‘Explore’.
Here, you will be able to access thousands of amazing NFTs. You can also filter your search by clicking on the top right bar. Select the option that you are looking for i.e. Trending, Top, Collectibles, Photography, Sports, Music, and so much more.
Step 3 – If you have selected the NFT you want to purchase, click on the ‘Buy Now’ option or make an offer. If you wish to purchase it, proceed to checkout. There, you will see all the details of your NFT like the name, subtotal, etc. Afterwards, select the ‘Confirm Checkout’ option.
(Many NFTs will have the ‘Place Bid’ option which allows you to make a bid on the NFT. Access all the previously made offers. If you wish to buy it, remember to make a bid which is at least 5% more than the previous one)
Next, OpenSea will reload your MetaMask wallet where you will be able to see all of the details of your purchase i.e. your gas fees, the time required to process the transaction, etc.
You can reduce your gas fees by clicking the option ‘Edit’. But remember, lowering gas fees will automatically reduce the transaction speed. So choose wisely.
Step 4 – After you have clicked the ‘Confirm’ button, sit back and wait until your purchase is processed. In just a few seconds, your NFT will appear in your NFT collection under your profile. Voila!
How To Purchase Your First NFTs On Opensea
Wasn’t that difficult, right? Buying and selling NFTs is not as difficult as you might think it is. It only needs patience and proper research before making any big decisions. But most importantly, you need to be aware of the scammers. It is quite easy these days to lose your money to scammers.
For more updates, keep following us at
Eman is an experienced content writer working with The NFT news since 2020. She is passionate about helping people understand the latest trends in cryptocurrency, metaverse, NFTs and so much more. In addition to writing for NFTnews, she has been proactively working with several other businesses for the past 4 years.
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