OpenSea is the largest NFT marketplace and according to recent reports, it has recorded an all-time NFT sales volume of $20 billion and has already catered to 1.2 million traders. And due to surging gas fees on Ethereum, the NFT marketplace has recently partnered with Polygon to enable users in the platform to create, buy and sell NFTs with zero transaction fees. Although OpenSea now supports Polygon, take note that you can only use Polygon ETH on the platform.
As interest in NFTs continues to surge, the number of creators joining the NFT bandwagon is also on the rise. Ready to create your NFT on OpenSea? You might be surprised how simple can you create and sell one on the largest NFT marketplace. Let’s start with the walkthrough.
Create an ETH compatible wallet (You can choose from the list on our published article “STEPS ON HOW TO BUY AN NFT ON OPENSEA”). After creating, do not forget to keep a copy of your recovery phrase as you will need it as you go through with the process.
- Connect your ETH compatible wallet to OpenSea
- Create an NFT collection
To do this, proceed to your profile located on the upper right then select the tab My Collections then click Create.
- Set up your collection
You can set your images like logo, featured, and banner and add the name of your collection. You can also customize the URL for the collection and a description as well. While setting up your collection, you can also set a “royalty percentage fee”. When you do, you will be receiving a percentage from the sales made by your buyer in the event that they resell the NFT they bought from you. You can set up to a maximum of 10%.
- Choose your blockchain
Here you can between Ethereum and Polygon whichever you prefer. Although most NFTs are built on Ethereum, you may want to consider Polygon since you do not need to pay transaction fees. After choosing your blockchain, click Create. This action will need confirmation with your ETH compatible wallet.
- Mint that NFT!
After setting up your collection, it is now time to mint! Simply click on the collection and then click Add New Item. You can upload an image, video, audio, or a 3D model to start minting your NFT.
- Sell your NFT
After minting, your NFT is ready to go! Click Sell and indicate your price. You can set your price from $2 to $500 or even higher. You can also indicate the number of copies you want to sell. And that’s it! Just wait for a buyer to grab your creation.
But selling your NFT could be a challenge considering the huge number of creators on the NFT marketplace. On top of that, OpenSea is also dominated by top NFT players with the likes of CryptoPunks and Bored Ape Yacht. Artists across the globe have begun flocking in NFT marketplaces to sell their digital creations. How could a digital artwork stand out in a sea of NFTs?