Coinbase|Binance|MetaMask|Ledger. Go to openlake.io "Account" "Wallet". MetaMask also has an app to access your money. After choosing the minimum starting bid, youll then have the opportunity to create a reserve price, or a price that must be met in order for the sale to go through. The marketplace was co-founded by Alex Atallah, a Stanford graduate who had previously worked for Apple and other software companies. Sellers pay gas fees when accepting offers. Pricing for an NFT is related to supply and demand, dependent on what the buyer is willing to pay for the asset. Gas fees are slightly more complicated as all transactions need to be processed by the Ethereum network. 766 posts. The marketplace works with supply and demand and looking at stats (i.e. When you have found the perfect NFT, its time to buy it! In this article our team is going to cover a lot of ground how safe OpenSea is, the best wallet to use, the OpenSeas fees and how the company makes money, the minting process on OpenSea, how to sell an NFT on OpenSea, the transaction time and cost on OpenSea, the items you should purchase and we end our article with an OpenSea Review. !b.a.length)for(a+="&ci="+encodeURIComponent(b.a[0]),d=1;d=a.length+e.length&&(a+=e)}b.i&&(e="&rd="+encodeURIComponent(JSON.stringify(B())),131072>=a.length+e.length&&(a+=e),c=!0);C=a;if(c){d=b.h;b=b.j;var f;if(window.XMLHttpRequest)f=new XMLHttpRequest;else if(window.ActiveXObject)try{f=new ActiveXObject("Msxml2.XMLHTTP")}catch(r){try{f=new ActiveXObject("Microsoft.XMLHTTP")}catch(D){}}f&&(f.open("POST",d+(-1==d.indexOf("?")?"? Learn how I invest: https://moneyzg.academy/Trade on Binance: https://bit.ly/Binance-MZGTrade on KuCoin: https://bit.ly/KuCoin-ZGUse VPN to Protect Yourself:. Your account needs to have an email address, profile picture, and a banner. Inside your profile settings, you can manage your notification settings as well. Next, select your wallet provider and follow the on-screen prompts to connect your wallet to the site. This one time fee is considered a gas fee or network transaction cost for initialization. OpenSea also allows the user to see the cost of transacting before actually making the confirming decision. However, if you want to create NFTs or list NFTs on OpenSea, then you will need to initialize your account first. Through lean collaboration and a desire to invest in new and exciting technologies, OpenSea was developed into one of the largest general marketplaces for user-owned digital items. You may find additional information about some artists, such as biographies and anecdotes that explain the meaning or purpose of their work. Its similar to how traditional e-commerce websites like eBay work, where sellers can regularly post items for sale without having to pay anything in the way of a consignment fee. Furthermore, the information contained on this website or the Lucky Trader mobile application is not intended as, and shall not be understood or construed as financial advice. As per Investopedia, fungibility is the "ability of a good or asset to be interchanged with other individual goods or assets of the same type." Advanced Note: During a private sale, the buyer will pay the gas for the NFT transfer, though the creator royalties and OpenSea sale fee still apply. The platform allows users to easily see the amount of money they are paying for the actual item and for the transaction to be processed. WETH (Wrapped ETH) is an ERC-20 token, equal in value to ETH, that allows users to make pre-authorized bids that can be fulfilled at a later date without any further action from the bidder. After choosing the appropriate wallet provider and following the connection steps, youre now signed in to OpenSea. Assuming youve attached an email address to the account, OpenSea will allow you to create alerts for whenever youve sold an item, bought an item, or received an offer. Although it isnt perfect, it has allowed digital artists to start earning from projects that they previously struggled to solve. Both ways allow investors to own a non-fungible token, but each requires different steps and has different benefits. Users can also interact and make transactions to the contract directly on Etherscan. They can be used across different platforms, but their Blockchain-induced scarcity makes NFTs unique. Firstly, click on this link: https://airtable.com/shr6kWzFZ4gWdYE6C to go to the application form. Buy, sell, & create the world of NFTs: cryptoart, game items, domain names and more! How much does it cost to list 10000 NFT on OpenSea? 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OpenSea allows digital artists to list their work on the platform without any fees or commissions. Your OpenSea account is tied to your wallet. Step 2: Send some ETH to your MetaMask account They dont want to add additional fees. You can simply follow the various on-screen prompts and you should be good to go in a matter of seconds. 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