The OpenSea NFT marketplace is the first and largest digital marketplace for crypto collections and NFTs in the world. OpenSea's outstanding features enable users to not only conduct transactions such as buy, sell, and bid, but also to create and mint NFT. This platform also owns a huge number of NFT collections from around the world, which brings great value for owners. So, with this article, <a href="https://www.builder.news/" alt="" title="builder.news" target="_blank" rel="" class="">Builder.news</a> will provide you with the fundamentals of using OpenSea.<h2>OpenSea NFT marketplace introduction</h2><img src="https://cdn.builder.news/news/11ed09ab79dd02d3a8e6023f659fee92.jpg" alt="" title="open-sea" width="600" height="330">OpenSea is known as the largest NFT marketplace in the world, where users do transactions related to NFT. According to reports, in 2021, the profit of OpenSea NFT marketplace increased from $95 million to $25 billion. At the same time, the world witnessed more than one million traders involved with this platform.OpenSea was launched as a pioneer in the NFT space by Devin Finzer and Alex Atallah in 2017. While Devin Finzer attended Brown University and worked as a software engineer at Pinterest before co-founding the Claimdog search engine in 2015, Alex Atallah graduated from Stanford and then worked for Silicon Valley startups Zugata and Whatsgoodly.However, recently, one of the two OpenSea founders, Alex Atallah, announced that he would resign in August 2022 to develop new projects in the future.<h2>How to use OpenSea</h2>OpenSea is the most popular NFT marketplace objectively, and it is likely to remain such for some time. Therefore, for traders, clearly understanding how to use OpenSea is very necessary.&nbsp;<h3>How to get verified on OpenSea</h3>Before account verification, your account must have the following features:<ul><li>A username</li></ul><ul><li>A profile photo</li></ul><ul><li>A valid email address</li></ul><ul><li>A Twitter account that is linked</li></ul>The following is how to get verified on the OpenSea NFT marketplace:<ol><li>&nbsp;Step 1: Go to your profile settings.</li><li>Step 2: At the top of the page, look for the "Apply for Verification" header.</li><li>Step 3: After you've finished filling out your profile, click "Submit request."</li></ol>The customer support team will review your profile and respond within seven days. Since your account is verified, all important information in your profile will be locked for security purposes, including username, email address, and social connections. If you want to change any data, you need to contact OpenSea’s support team.&nbsp;<h3>How to sell NFT on OpenSea</h3><img src="https://cdn.builder.news/news/11ed09ab79dd090aa8e6023f659fee92.jpg" alt="" title="How to sell NFT on OpenSea" width="600" height="400">Sellers offering NFTs on OpenSea have two options: they may establish a fixed price for an NFT or set up an auction in which any number of purchasers can make offers on an NFT (they can also use both options which are similar to eBay).Before diving into the steps to sell NFT on OpenSea, you need to initialize your wallet first. OpenSea connects with <a href="https://www.builder.news/news/6-best-web3-wallets-for-investors-to-use" alt="" title="6 best Web3 wallets for investors to use" target="_blank" rel="" class="">many cryptocurrency wallets</a> such as MetaMask, Coinbase Wallet, Trustwallet, e.g.&nbsp;Then, in order to sell NFT on OpenSea, you need to take the following steps:<ol><li>Step 1: Go to the top right corner of the page and click "profile".</li></ol><ol start="2"><li>Step 2: Select the NFT you would like to sell.</li></ol><ol start="3"><li>Step 3: Click "Sell" on the top right of the page.</li></ol>Next, you will be led to the listing page, where you can control the price as well as the type of sale for your NFT. Besides, sellers can also choose a timeframe for the sale by selecting a default length or using the calendar to enter a custom duration. More specifically, sellers may also put the item on hold for a specific buyer. To do so, navigate to the “More options” section and input their wallet address in the "Reserve for specific buyer" box.<ol start="4"><li>Step 4: After all of this, you will next be prompted to sign a transaction to confirm your sale.</li></ol>When your listing is finished, you will see a pop-up confirmation reminding you to share it on social media.<h3>How to buy NFT on OpenSea</h3><img src="https://cdn.builder.news/news/11ed09ab79dd0cf9a8e6023f659fee92.jpg" alt="" title="How to buy NFT on OpenSea" width="600" height="400">Similar to selling NFT, to buy NFT on OpenSea, buyers also connect their wallet with OpenSea and prepare enough ETH before buying anything. You are now ready to buy some NFTs. Follow the instructions below:<ol><li>Step 1: Navigate to the OpenSea marketplace on your browser.</li><li>Step 2: Find an NFT you’d like to purchase (don’t forget that you have to review all the collected information about it to prevent scam.&nbsp;</li><li>Step 3: Select the "Buy Now" option.</li><li>Step 4: Accept the marketplace's requirements and click "Checkout".</li><li>Step 5: Click the “Confirm” to accomplish the transaction and become the new owner of an NFT.</li></ol>In some cases, NFTs which you would like to buy will include an auction option. This allows sellers to set a minimum price barrier and put bidders against one another. Making an offer is a straightforward process.<ol><li>Step 1: Click the “Make Offer” on the NFT page.</li><li>Step 2: Choose the currency in which you want to make your offer.</li><li>Step 3: Enter the number of your offer as well as the expiration date.</li><li>Step 4: At that time, you just need to wait for the seller's acceptance.</li></ol><h3>How to mint an NFT on OpenSea</h3><img src="https://cdn.builder.news/news/11ed09ab79dd10e2a8e6023f659fee92.jpg" alt="" title="How to mint an NFT on OpenSea" width="600" height="400">To mint NFT on OpenSea, the very first step is to create an ETH wallet. Like mentioned above, OpenSea allows over a dozen wallet choices, including MetaMask, which is the most popular option on the website, while Coinbase Wallet is used more on mobile phones. Then users need to connect their wallet to OpenSea to do any next actions.&nbsp;Although users can produce and publish NFTs on their own, it is recommended that they be minted as part of a collection since they attract more views and purchases. Follow these steps to create a NFT OpenSea collection:<ol><li>Step 1: Navigate to your OpenSea profile and click "My Collection".</li><li>Step 2: Click "Create" to start a new collection.</li><li>Step 3: Don't forget to include a logo, featured picture, and banner image.</li><li>Step 4: Assign a name, a description, and a category to the collection.</li><li>Step 5: Choose the resale charge that will be applied to all future resales of NFTs.</li><li>Step 6: Choose a blockchain and payment methods that are allowed; Ethereum is our choice for both.</li><li>Step 7: Select a display theme before clicking "Create".</li></ol>After creating a collection, it is no hard to add an NFT to it through the few steps below:&nbsp;<ol><li>Step 1: Open the newly created collection.</li><li>Step 2: Choose "Add Item".</li><li>Step 3: Give the NFT a name and then save it.</li><li>Step 4: Fill up the blanks with traits, degrees, and other characteristics.</li><li>Step 5: When you're finished, click "Create".</li></ol><h2>OpenSea fees</h2><h3>OpenSea gas fee</h3>When an item is sold, there are gas fees. The transaction determines who pays the fees.<ul><li>When purchasing a fixed-price item, buyers must pay gas fees.</li><li>When sellers accept offers, they must pay gas fees.</li><li>OpenSea also pays the gas for auction listings that sell to the highest bidder with a reserve price.</li></ul>Furthermore, users will be charged recurrent gas fees when completing the services specified below:<ul><li>Accepting an offer.</li><li>Transferring (or Gifting) an NFT to someone.</li><li>Canceling a listed NFT.</li><li>Canceling a Bid.</li><li>Converting wETH back to ETH, and vice versa.</li><li>Freezing your metadata.</li><li>Bridging ETH or withdrawing ETH to and from Polygon.</li></ul><h3>Opensea minting fee</h3>You are not required to pay gas fees to "mint" each individual item until it is sold. This is known as “lazy minting”, and it occurs when an NFT is minted after it has been sold (rather than minted upon listing). Besides, when you post a new item on Ethereum for the first time, you must pay gas.<h2>FAQs about Opensea NFT marketplace</h2><ol><li>Which is the best NFT to buy on OpenSea?</li></ol>CryptoPunks is the answer for this question. Each collectable figure in CryptoPunks is worth more than $10,000 and has verifiable ownership on the Ethereum blockchain development. Millionaire Shalom Meckenzie owns the most valuable punk, which is worth $11.7 million.<ol start="2"><li>Has OpenSea been hacked?</li></ol>On February 19th, 2022, a hacker attacked OpenSea and stole hundreds of NFTs from users. According to CEO Devin Finzer, these NFTs have been sold for ethereum worth $1.7 million.<ol start="3"><li>Which are the top competitors of OpenSea?</li></ol>According to experts, having five rivals could topple OpenSea in 2022. These names include Coinbase NFT, FTX NFTs, Rarible, Zora, and Magic Eden.&nbsp;<div class="pr-block-special">Disclaimer: This article is intended for and only to be used for reference purposes only. No such information provided constitutes advice or a recommendation that any investment or trading strategy is suitable for any specific name.</div>

One of the necessary factors to getting a profit from NFT is knowing how to use OpenSea. In this article, we will look at objectively the way to become an "OpenSea-er."

An ultimate guide on how to use OpenSea NFT marketplace