Are you interested in selling NFTs on OpenSea but don’t know how to start?
You’re not alone!
It’s challenging for digital creatives to sell non-fungible tokens without already having a solid and loyal audience, which is understandable considering the novelty of NFTs and blockchain technology.
Luckily, platforms such as OpenSea help simplify the process of selling NFTs, thanks to their ease of use and competitive commission rates, among other factors.
This post covers everything you need to know about how to sell NFT on OpenSea, from why you should consider doing it and the problems you might face to the exact steps you need to follow.
Let’s jump right into it.
- Why You Should Consider Selling NFTs on OpenSea
- Problems With Selling NFTs on OpenSea
- What You’ll Need to Sell NFTs on OpenSea
- What NFTs to Sell on OpenSea
- How to Sell NFTs on OpenSea: Step-by-Step Instructions
- Things to Consider When Selling NFTs on OpenSea
- Frequently Asked Questions
- Similar Tutorials to Check Out
- Wrapping Up
Why You Should Consider Selling NFTs on OpenSea
OpenSea is currently the most popular NFT marketplace for the following reasons:
- Limited Fees: OpenSea’s service fee, which is 2.5%, is lower than the fees charged by other NFT marketplaces. On top of that, the platform allows users to create NFTs for free using the Collection Manager tool.
- Massive NFT Collection: OpenSea is home to a wide variety of NFTs that cover everything from music, gaming, and sports to artwork, photography, and domain names.
- Easy Account Creation: OpenSea is intuitive and beginner-friendly. Moreover, it doesn’t have a stringent vetting process like other NFT marketplaces, which makes it easily accessible.
- Several Payment Methods: OpenSea accepts several payment methods, including Avalanche (AVAX), ETH, SOL, and stablecoins such as DAI and USDC (USD Coin).
Problems With Selling NFTs on OpenSea
Despite the platform’s user-friendliness and popularity, selling NFTs on OpenSea has a few drawbacks:
- 10% Royalty Cap: As an OpenSea seller, you’re limited by a 10% cap on royalty charges. While this isn’t bad, per se, some platforms have a royalty cap of up to 50%.
- Pays Only in Crypto: Another downside to selling NFTs on OpenSea is that the platform collects payments only in cryptocurrency. Non-crypto currencies like USD and Euro aren’t supported.
- Limited Support: OpenSea doesn’t have the best customer service, as with most NFT marketplaces. If you have any questions or concerns, your only option is to submit a ticket via email.
- Requires Crypto Wallet: Whether you’re buying or selling NFTs on OpenSea, you must have an external crypto wallet to complete your transactions.
What You’ll Need to Sell NFTs on OpenSea
Though OpenSea doesn’t have a stringent vetting process, the platform does have criteria for account verification. This ensures a healthy marketplace ecosystem.
To apply for account verification on OpenSea, you must meet the following requirements:
- Over 18: For starters, all OpenSea users must be at least 18 years old. If you’re between the ages 13 and 18, you may use OpenSea through a parent or guardian’s account—with approval, of course.
- Personal Info: You’ll need to have a username, profile picture, and a verified email address. Further, you’ll need to connect to a Twitter or Instagram account.
- 75 ETH of Volume Sold: You must own a collection that’s worth or equivalent to at least 75 ETH of volume sold in order for your OpenSea account to be verified.
- NFT Wallet: Whether you’re looking to buy or sell NFTs on OpenSea, you’ll need to create a digital wallet that’s compatible with the platform to store your NFTs.
What NFTs to Sell on OpenSea
You can sell just about any NFT you want on OpenSea, though some types of NFTs tend to perform better than others.
Here are the most popular types of NFTs to sell on OpenSea or any other NFT marketplace:
1. Avatars and PFPs
Unsurprisingly, PFPs and avatars are the most popular types of NFTs.
They’re actually the first thing that comes to the mind of a person who’s outside the NFT sphere when they think of NFTs.
PFP and avatar NFTs are so popular that several celebrities have used them on social media. It’s viewed as a form of digital flexing.
Some of these NFTs are worth ridiculous prices.
Why This Product Sells Well
PFPs and avatar NFTs sell so well because they’re collectibles that have varying degrees of rarity.
Add to that the support of numerous celebrities and notable members of the NFT community.
2. One-of-One Artwork
As an NFT creator and seller, you can split up your work into several editions that may look identical, visually speaking, but vary in terms of value on the blockchain end of things.
Another approach is to create one-of-one (1/1) artwork that only one person can own at any given time.
Artists such as Pak, Beeple, and XCopy are known for popularizing this approach to selling digital art.
Why This Product Sells Well
One-of-one (1/1) artwork sells so well because of the exclusivity it grants its owner.
As a matter of fact, some of the most expensive NFT sales belong to the category of one-of-one artwork.
3. Photography NFTs
From Justin Aversano and Jacob Riglin to Julie Pacino and Isaac Wright, several photographers are gaining a great deal of momentum in NFT spaces with their photography NFTs.
Note, however, that in order for photography NFTs to perform well on platforms like OpenSea, they must stand out and explore uncharted territories of creativity.
Otherwise, they’ll get overlooked.
Why This Product Sells Well
While not as popular as PFP and avatar NFTs, photography NFTs continue to grow in popularity and value because of the special moments they capture.
What if we told you that in 2022, an NFT picture sold for over $2 million?
4. Music NFTs
If you make music and you’re not fond of how streaming platforms seize most of the revenue musicians generate, then you should try your luck selling music NFTs, especially if you have a solid following.
Music NFTs are tokenized versions of an album, song, music video, or any given piece of music.
The artist gets to sell their art online while keeping creative control over it.
Why This Product Sells Well
Music NFTs sell well because they establish a direct connection between artists and their fans, unbound by the chains of record labels, streaming services, and the music industry.
How to Sell NFTs on OpenSea: Step-by-Step Instructions
Selling NFTs on OpenSea is a pretty straightforward process. Simply follow these steps:
1. Log Into Your OpenSea Account
The first step to selling an NFT on OpenSea is to log into your profile using the wallet that contains the NFT you intend to sell.
If the wallet is compatible with OpenSea, your NFTs should appear in your profile.
2. Choose the NFT You Want to Sell
In your profile, you should see all of the NFTs in your digital wallet.
Simply choose the NFT you’re looking to list for sale on OpenSea. Then, click the “Sell” button on the top right of the item page.
3. Select the Type of Sale and Price
You can list your item for a timed auction or a fixed price.
The former option is ideal if you want to sell the NFT to the highest bidder, whereas the latter option is ideal if you want to sell the NFT for a specific price.
If you choose the auction option, you can set the duration of the auction to up to 6 months.
The minimum duration you can set is 15 minutes. After the duration is over, the highest bidder gets the NFT.
Note that OpenSea gives you the option to reserve NFTs for specific buyers.
Simply head to the “More Options” section of the NFT’s listing page and enter the recipient’s wallet address in the “Reserve for specific buyer” field.
4. Confirm the NFT Listing
Finally, tap the “Confirm Listing” button at the bottom of the listing page, then confirm the required gas fee.
Voila! Your NFT is now officially listed on OpenSea.
Things to Consider When Selling NFTs on OpenSea
Before you start selling NFTs on OpenSea, be sure to consider the following factors:
1. Your Expectations
If you’re new to creating and selling NFTs, don’t expect to sell a lot of NFTs right away.
Selling NFTs requires promotion, as people are unlikely to buy NFTs from unknown creators.
On that account, you need to figure out a unique angle to set your NFT collection apart from the competition.
Then, you can promote your digital assets on platforms like Reddit and Discord.
2. Your Listing Price
Once an NFT is listed on OpenSea, you can’t increase its price; you can only lower it.
If you need to raise the price, you’ll have to delete the listing and relist the NFT again, which will incur gas fees.
This is why we recommend setting a higher price for your NFTs than what you’re willing to accept.
If it sells, awesome! If it doesn’t, you can lower the price incrementally until you find a suitable offer.
3. Your NFT’s Rarity
Before listing an NFT for sale, you need to consider its rarity and value.
There are plenty of tools that can help you do so, including Rarity.tools, Rarity Sniffer, and Rarity Sniper.
If you have a unique, serialized NFT, consider an auction listing so that you can maximize your profit.
If the item isn’t that rare, be sure to assess its value before listing it so that you can assign it a suitable price.
4. Your Notifications
It’s very important that you activate your email notifications after listing an NFT, especially if you’re someone who is too occupied most of the time or isn’t that engaged in the marketplace’s activities.
Activating your notifications helps you keep tabs on offers from different potential buyers.
This is even more important if you’re using the MetaMask wallet since it doesn’t notify users of their sales.
Frequently Asked Questions
Is Selling NFT on OpenSea Free?
No, selling NFTs on OpenSea isn’t free.
The platform charges 2.5% for every transaction.
That being said, OpenSea allows users and partners to create NFTs for free at any given time.
What Is the Easiest Way to Sell an NFT?
The easiest way to sell an NFT is to list it on multiple NFT marketplaces.
The more marketplaces you use, the higher your chances of selling your NFT.
Consider OpenSea, Rarible, Binance, and NBA Top Shot.
Does OpenSea Have No Gas Fee?
NFT sellers pay gas fees when accepting offers from buyers, and buyers pay gas prices when purchasing a fixed-price item.
However, OpenSea doesn’t receive or profit from said fees, and the fees aren’t refundable.
Similar Tutorials to Check Out
Are you looking for other ways to make money online?
Check out the following tutorials:
- How to Sell NFT Art: On the topic of selling NFTs, if you’re an artist who’s looking to sell artwork, music, or any other type of art in the form of NFTs, this is the ultimate guide for you.
- How to Sell on Crypto.com: The crypto market can be challenging to navigate, but this guide will teach you how to sell your crypto assets on crypto.com.
- How to Sell a Product: From helping you find customers and plan your approach to closing the sale, this tutorial highlights how you can sell any product.
From selling your exclusive content without the risk of plagiarism or duplication to setting your own prices and terms, selling NFTs is one of the best things you can do as a digital creative in today’s tech-driven world.
Hopefully, the information shared in this article has helped you get started with selling NFTs on OpenSea.
If you’ve found this article helpful, be sure to share it with other digital creatives who are interested in selling NFTs.