How to Sell On OpenSea
Ownership of digital assets has changed forever thanks to OpenSea, the most popular NFT marketplace in the world.
Non-Fungible Tokens are a reality now, and if you want to buy and sell NFT art, your best shot is going directly to OpenSea.
Although there are other NFT marketplaces out there, it is clear that selling an NFT on OpenSea is easier than on other sites.
If you don’t know how to get started with a sale transaction, then you have arrived at the right place.
Read further to get all the details you need about the following matters:
- How to sell on OpenSea;
- Things you must know before you sell NFTs on OpenSea;
- What to consider in sell and buy transactions on OpenSea.
What to Know Before Selling NFTs on OpenSea
You can sell and buy NFTs on OpenSea, but there are some things that you must take into account before making a sale listing or a purchase.
Naturally, you must first link your crypto browser or mobile wallet to the marketplace.
Since OpenSea runs mainly on the Ethereum Network, make sure that you use a compatible wallet, such as MetaMask.
Read Also: Why is OpenSea the largest NFT marketplace around? There are many reasons that led to OpenSea’s success.
Check out detailed statistics on NFTs sold, OpenSea’s revenue, and more relevant data in our OpenSea Statistics in 2022 blog post.
1. Initialize Your Crypto Wallet
First-time sellers must initialize their accounts before being able to put items for sale.
This is imperative for OpenSea to access your stored items, mostly if your tokens were not minted on OpenSea but through a custom contract.
The platform will prompt you with a signature request after initializing your wallets.
If you fail to complete this process, you won’t be able to make listings on the marketplace.
2. Cost to Sell NFTs (Transaction and Gas Fees)
Sellers need to pay gas fees when accepting offers from buyers on the marketplace.
Of course, this depends on the final cost of the transaction, whether we talk about an auction or a fixed sale for your first NFT.
Also, it is important to mention that the highest percentage of fees that can be charged from a sale on OpenSea is 12.5%.
Pro Tip: Do you have enough ETH to buy a Bored Ape Yacht Club NFT? We show you how to do it on OpenSea!
Check out our Buy Bored Ape NFT article to learn more about this.
3. Create NFTs and Sell NFTs on OpenSea
Although your first listing must pay for gas fees, creating NFTs for the second time won’t require you to pay for minting fees until the sale is completed.
If you want to sell a newly created NFT collection, the platform allows you to create sell bundles.
However, keep in mind that verified tokens and collections will have more chances of getting sold.
Learn more about verifying an account or an NFT on OpenSea here: Get Verified on OpenSea.
How to Sell on OpenSea
Now that you know the basic info about the selling process, you can now put your Non-Fungible Tokens for sale.
Keep in mind that, although the OpenSea mobile app is useful for browsing NFT and checking collections, we recommend doing your listing on the web version instead.
Read Also: Did you just purchase a sweet, valuable NFT on OpenSea? Move it to a hardware wallet!
Learn how to Transfer NFT from OpenSea to Ledger in this in-detail guide we have written for you.
Step 1: Go to OpenSea Marketplace and tap on Your Profile Image
Go to OpenSea, and click on your OpenSea profile picture in the upper right-hand corner of the screen.
If you have problems finding it, it’s right next to your wallet icon, which is also at the top right corner of OpenSea’s homepage.
Step 2: Go to the NFT Listing Page
Click on the previously mentioned icon, and a dropdown menu will open. There, you need to select “Profile.”
This will take you directly to your NFTs listing page, where all the assets you own will appear.
Step 3: Click on the NFT and Select “Sell”
Now, you need to select the NFT you want to sell. Clicking on the NFT will take you to another page where you can edit your NFT settings or simply click “sell” so you can list it.
Step 4: Select the Type of Sale (Fixed Price Sale / Timed Auction)
In this tab, you will need to set the details of your listing, including selling price, type of listing, and more.
- In a “Fixed Price Sale,” the price stays fixed - you can edit the item’s price in the default options that appear on the screen;
- On the other hand, a “Timed Action” works as you imagine. There’s a start price and an ending price, and the highest bid will take the token once the price threshold has been met.
Don’t forget to constantly check the price history of your auction.
Also, set up a realistic expiration date for the sale.
You can have it listed for 1 day, 1 week, 1 month, and even 6 months if you please.
Learn more about OpenSea Timed Auctions here.
Step 5: Click on “Complete Listing”
Once you finish listing the NFT, click on “Complete Listing,” and the item will appear for sale. You can see all of your listed items on your Activity Tab.
You can promote your listing on social media if you please.
When someone makes the purchase, you will see the potential fees (network fee, gas fee, and all transaction fees) related to the transaction.
You have successfully sold an NFT on OpenSea! It isn’t that hard, isn’t it?
For more useful NFT content, GrowFollowing will always be here for you.
FAQ
Can I Reserve NFTs to a Specific Buyer?
Yes, you can. You just need to type in the wallet that belongs to the buyer in the “Reserver for Specific Buyer” section when listing your token.
Only that person will be able to buy the NFT you have just listed.
Can I Use MetaMask Wallet Instead of Trust Wallet on OpenSea?
Yes! You can always Change Wallets on OpenSea. If you need to do this, check out our related post to get more information about this matter.
Steve specializes in cryptocurrency and finance. As a born researcher, he won’t leave any stone unturned when it comes to topics he covers.