Opening an NFT on the open-sea
At this time, OpenSea is the best venue to sell NFTs. There is no restriction on the kind of digital assets you can purchase and sell on this marketplace, including CryptoKitties, artwork, and domain names. It’s possible that you took some time to get comfortable with how everything operates before purchasing or making your first NFT.
We have the information you need if you are pondering this yourself. We’ll outline the exact steps for selling NFTs on OpenSea in this article. We’ll go into more detail and clarify how to sell items like domain names, CryptoKitties, and more without paying for gas.
How to Sell on OpenSea?
We can presume you already have an account if you’re here to sell on OpenSea. If not, you should be aware that only people who have registered and set up their wallets can sell NFTs. To flip an NFT you’ve bought or sell the one you made on OpenSea, follow these simple steps:
- Go to OpenSea.io and log in using your account information.
- On the upper right, your profile photo will appear.
- Visit Profile.
- Choose the NFT that you want to sell from your wallet.
- To be taken to the listing page, choose Sell.
- Choose the sale’s kind and pricing. You have the option of setting a preset price or holding an auction. Enter the start price, expiration date, and price threshold along with the auction. A sale may last one day, three days, or even a week.
- Click Finish Listing when everything is in order.
- You must initialize your wallet before viewing the first listing. That implies that you must finish two one-time transactions. The first is to set up your account for selling, and the second is to provide OpenSea access to an item when a transaction occurs.
- Verify the information and then post the item to the marketplace after paying the costs.
See the NFTs you have listed for sale by selecting the Activities option from the menu on the left.
OpenSea – Selling Price
OpenSea mandates all first-time sellers to pay two fees before making the first transaction, as was already mentioned. Be aware that the cost of these two fees isn’t set, and with the right knowledge, you may minimize them as much as possible. Yet how?
First, ether is used to pay the fees. This implies that the price is based on how much the cryptocurrency is worth in terms of the dollar or your local currency.
The two fees are transactions on the Ethereum blockchain, just like minting. They require processing power to finish as a result. You must pay a gas fee to cover the cost of the energy used to conduct these transactions.
The initial transaction can cost anywhere from $70 and $300 as of this writing. The second exchange often costs between $10 and $30.
The cost of gas accounts for this pricing range. On some days, the fees are greater, and on other days, when business is slow, the fees are lower.
With www.gasnow.org, you may track the price changes. The best days to look for are those with numbers below 100. To save the most money, establish the account at this time.
In addition to the upfront costs, OpenSea retains 2.5% of your sales. This tax is only due after the item is sold.
How to Sell on OpenSea without Spending Money on Petrol
Gas fees on OpenSea are comparable to the transaction fees you are already familiar with if you are familiar with the Ethereum network. You should have enough ETH in your wallet to cover the first transaction and the gas costs when you transfer cryptocurrency to another wallet or buy an NFT on OpenSea.
But, Polygon, a new marketplace launched by OpenSea lately, allows you to sell NFTs without paying gas taxes.
To construct a Polygon collection, take the following actions:
- Choose My Collections by clicking on your profile photo.
- Choose Build a Collection from the menu.
- The logo, banner, description, and royalties should all be added.
- For the creation of NFTs, you can select a blockchain. From the drop-down menu, choose Polygon.
Here’s how to sell your NFTs now that you have a Polygon collection.
Purchase NFTs on Polygon.
- To sell an NFT, navigate to it and click Sell in the top right corner.
- Decide on the sale price, the currency, and any applicable fees.
- Simply choose Full listing.
- To sign the transaction, click Sign.
I’m done now! Your NFT will be listed, and you can copy its link and paste it wherever you desire to increase visibility.
How Can a Domain Be Sold on OpenSea?
Domain names are one of the numerous kinds of goods you can sell on OpenSea. Here are the procedures to take if you wish to sell your first domain name:
- Go to OpenSea and click and hold your profile photo.
- Visit Profile.
- Choose the domain name you want to buy.
- On the upper right, click the Sale button.
- Choose your selling choices. Both Set Price and Highest Bid are options.
- Enter the information, then click Complete listing.
- Click Sign In under Metamask’s logo if you use it.
- Choose WalletConnect or WalletLink if you utilize a mobile wallet (depending on your wallet).
- Use the camera on your phone to scan the QR code.
Done! The time has come to sell your domain.
Buying and Selling Cryptokitties on OpenSea
On OpenSea’s marketplace, you can offer your cute crypto kitty for sale. Use the market to find out how much a cat like yours would sell before putting the NFT up for sale. You can establish fair pricing with the aid of this.
When you’ve finished, it’s time to sell. Here’s how to do it:
- Navigate to the My Items tab at OpenSea.io/account.
- Choose the cat you want to sell by clicking.
- Choose the “Sell” button. Enter the initial price, the final price, the number of days that you want your crypto kitty to be listed, and the price range.
- Choose Sell Item once all the criteria have been set.
- Click Create Auction after selecting Approve Contract.
The Metamask transaction will be produced by the final two phases, each of which has a price. The network fees are typically chosen by Metamask, however, you are free to select your own. Once you’ve submitted both of these transactions and they’ve been successfully processed by the Ethereum network, you can only begin the crypto kitty auction.
In OpenSea, How to Sell Mintable
Mintable, the second-most popular NFT marketplace, offers a variety of goods for sale and purchase. What transpires, though, if you wish to sell anything from Mintable on OpenSea? There is a quick tip that will enable you to accomplish that.
Transferring the NFT from Mintable to your wallet is all that is necessary. The transfer will be picked up by OpenSea, and their database will display it. Keep in mind that this also requires paying a $25 or so network fee.
Moreover, there is no need to delete the transferred item from Mintable. You can concurrently list it on both markets, increasing your chances of selling.
Sell NFT on OpenSea is it free?
Since the NFT isn’t transferred on-chain until the first purchase or transfer is performed, the OpenSea Collection Manager enables developers to create NFTs without paying any upfront gas costs.
Are there taxes on ETH gas?
You will pay a gas fee when you move assets. Sadly, you cannot deduct these fees from your taxes, and the ETH you use to pay them will be considered taxable income.