How to sell NFTs on Opensea.io Guide
NFTs attract different people from various industries. There are thousands of digital products being sold on the OpenSea marketplace. Unknown artists become appreciated, and art lovers purchase their work. To start selling on OpenSea is not hard, but it requires some time to learn the platform and a bit of money. If you did a little research about minting and selling Non-Fungible Tokens on Opensea, you probably found it possible to do it for free. However, it is not exactly free of cost. There is a one-time gas fee associated with "Account Activation." After you activate your account, you will be able to mint and sell your NFTs without further fees.
In this article, You will learn how to make your NFT first sale on the OpenSea market.
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Before you continue to read this article further, make sure that you already have an item in your collections. If you didn't upload your product just yet, you could learn how to do it here.
How to sell NFT on the OpenSea Marketplace
Click on the profile icon and select my collections.
There are two ways to set your Non-Fungible Token on sale.
The first way is to point the mouse on the NFT in your collection. The small icon "List this Item" will appear on the right, click on it.
The second way is to left-click on the NFT, and it will redirect you to the page with all the information of that particular NFT. On the top right, the Sell button will appear. Click on it.
Then you will need to choose your sale method. OpenSea allows you to sell in:
Fixed price - The buyer will buy your asset at the price that you set. The listing will last until the sale condition is met or canceled.
Highest bid - this method works as an auction. The NFT will be listed for a specific period of time, and the person with the highest bid will receive an NFT. OpenSea allows setting a "Reserve Price." If the highest bid is lower than the reserve price, then your NFT will not be sold.
Bundle - this method allows you to sell multiple NFTs at a time.
Back to the Fixed Price method, OpenSea also has an option to include the ending price for your NFT. When you select this option, you will have fields to set your Starting and Ending prices, as well as an Expiration Date.
The ending price must be set less or equal to the starting price. The price of your NFT will decline over time, from Starting Price until it reaches the ending price. The NFT price will decrease linearly until the expiration date.
Whenever you set the price for your listing, you can also select the currency type, whether you want to sell it in ETH, DAI, or USDC.
Privacy
By default, your listing will become public; however, if you check on the Privacy button, you will be able to specify only one address that is allowed to purchase your NFT.
Listing
Once we set the price, let's list our NFT.
If you sell the NFT for the first time on the OpenSea, you will have to initialize your account.
How to Initialize OpenSea Account
When you clicked to sell your NFT, OpenSea Message will pop out with the instructions. The marketplace requires you to make a free transaction + Gas Fee to initialize your wallet on the blockchain.
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The initialization may take several minutes to be completed. Once your wallet is initialized, you will need to list your NFT once again, but this time for free.
The fee with the account initialization on the OpenSea is paid only once. Your future listings will be free of cost.
