Aneeca YounasThe past few months have seen a flurry of news about blockchain gaming. With the release of CryptoKitties in late 2017, the world’s attention was turned to the Ethereum blockchain, and developers began to explore its potential for decentralized game design.
Now that we’ve had some time to get acquainted with this new technology, it’s high time we start looking at the specific applications that are coming our way. OpenSea is one such platform: an NFT marketplace built initially as a marketplace for CryptoKitties.
Since then, it’s grown into a market built on Ethereum. Find out more about the “new” kid on the block in this OpenSea review.
OpenSea app : The Low-down
What Is The Software? OpenSea
How much does it cost? Free to use
Cons
Would We Recommend It? OpenSea is the largest NFT marketplace in the industry today for a reason. Its easy-to-use interface, suite of top-tier features, and no-gas fee system is definitely a winner in our book.
Cryptoassets are a highly volatile unregulated investment product.
How Does OpenSea Score?
| Category | Our Score |
| Features | ⭐⭐⭐⭐⭐ |
| User Experience | ⭐⭐⭐⭐⭐ |
| Customer Service | ⭐⭐⭐⭐⭐ |
| Pricing | ⭐⭐⭐⭐⭐ |
| Overall | ⭐⭐⭐⭐⭐ |
What is OpenSea?
OpenSea is an NFT marketplace built for Ethereum. Founded in 2017, it works as a platform for listing and trading non-fungible tokens created on the blockchain. Did you know that OpenSea is also considered one of the best NFT apps available in 2022?
Although the first version of OpenSea was designed with CryptoKitties in mind, it quickly became apparent that there was potential to create a more general platform. The company soon adopted the name “OpenSea”, and began designing an Ethereum NFT marketplace that would support many different types of blockchain games and applications.
In this way, OpenSea seeks to be the “Swiss Army Knife” of the industry. It will allow developers to create new types of games and applications without having to learn specialized programming languages or deal with a single wide-ranging blockchain protocol. This is important because it gives developers the ability to work on emerging markets without having to learn new tech first.
OpenSea was founded by Devin Finzer and Alex Atallah who are known as the first NFT billionaires. However, the company is no longer a CryptoKitty-focused entity. It’s grown into a marketplace for various digital assets such as:
- Art
- Domain games
- Game items
- Music
OpenSea Summary
OpenSea is an NFT marketplace built as a platform for listing and selling non-fungible tokens (NFTs).
It was initially built to support CryptoKitties but has since expanded to become one of the most popular NFT marketplaces in the world.
OpenSea is considered to be the “Swiss Army Knife” of blockchain gaming because it allows developers to create new types of games and applications without having to learn specialized programming languages or deal with a single wide-ranging blockchain protocol.
Since it’s built on Ethereum, you’ll need to secure an Ethereum wallet to use OpenSea. Furthermore, it also boasts an impressive list of features:
- Gifting NFTs
- Minting NFTs
- Multiple crypto wallet options
- Referral rewards
- Filters
- User-friendly interface
- NFT creation
- Buy and sell NFTs
- Hide your NFTs from your profile
- NFT auction
- Sell NFT bundles
- Rankings page
- Rarity traits
- Liking NFTs
OpenSea Features ⭐⭐⭐⭐⭐
There’s a reason why OpenSea is as popular as it is now. It’s chock-full of features that many NFT traders love. Think of it this way: the developers were able to create a decentralized marketplace that seemingly answered every NFT trader and collector’s wishes.
Below, we’ll talk about some of its most notable features in detail.
Create, Buy, and Sell NFTs
To begin with, you can both create and find the best NFTs to buy inside OpenSea. You can do this by uploading your own artwork or other digital assets and selling them to other traders. OpenSea allows you to upload any type of digital assets, such as:
- Movies
- Books
- Images
- Videos
- Sounds
- Weblinks
- Music files and videos
If you love making art, you can use OpenSea to create new types of works and sell them for profit. You should also consider looking into an NFT auction.
If you’re a gamer like me, there are plenty of fun NFTs to get your hands on. You can also find fun games here too. There are so many choices here for all kinds of different interests.
Multi Crypto Wallet Options
Most marketplaces rely on one or two cryptocurrency wallets. However, OpenSea supports several. Here’s a complete list of cryptocurrency wallets supported by the platform:
- Coinbase
- Portis
- MetaMask
- TrustWallet
- Bitski
- Dapper
- Kaikas
- Authereum
- Formatic/Magic
- OperaTouch
- Torus
- WalletConnect
- WalletLink
These wallets give you a wide range of options for accepting and making payments.
Completely Free
OpenSea is completely free to use initially. However, the platform does charge a 2.5% fee for each sale made on the marketplace. However, there are no monthly or annual fees.
Gifting
The one feature on OpenSea that truly sets it apart is gifting. For example, if you want to gift someone an NFT, all you need to do is send them the Ethereum address of a specific wallet. A trader will then receive the asset from the developer, and it will be added to their existing list of NFTs.
NFT sends transactions regardless of whether the trader has an account or not. If they do have an account on the platform, you can send the NFTs directly to their OpenSea account.
NFT Minting
In addition to buying and selling existing NFTs, developers can also mint new ones. To do this, you’ll need to access the OpenSea API. You can do this after creating an account with the platform.
However, this requires the creation of a new wallet on the platform. Doing so will give the developer control over what types of assets can be minted by anyone on OpenSea in the future.
OpenSea also supports a built-in feature for creating custom asset names. If you want to create a new type of NFT that’s not yet supported by the platform, you can do so easily.
Referral Program
There’s more than one way to earn NFTs on OpenSea. Here, you can earn ETH by sending in referrals or new buyers. Think of it as an in-house affiliate program. If you refer new users to the platform, you’ll earn a minimum of 1% of the sale if they make a purchase.
Pro Tip: Use your referral code when you promote your NFTs and double your earning potential!
Resources
From how-to videos to helpful blog posts that cover how you can get started on the website, it’s safe to say that OpenSea is designed to make sure you’re as informed as possible. There is a wide array of resources available on the website to help you understand everything from taxes to how you can mint your own NFTs on the platform.
I like how helpful the resource library is. Not to mention, their FAQ section is incredibly thorough. Despite their stellar customer support track record, there’s hardly any need to contact them for additional information since most of it is already provided on the website.
The Mobile App
To say that OpenSea is a truly progressive platform would be an understatement. Their dedication to cultivating an NFT marketplace that is both accessible and convenient for traders and collectors of every level is unsurpassed.
Take their mobile app for example. The app is well-designed, easy to navigate, and completely free. You’re able to check on your NFTs wherever you are without much fuss, which makes it easier to keep track of your transactions on OpenSea.
I like how the mobile app features a clean, no-fuss design that keeps you focused on the task at hand. There’s very little to distract you from what you should be doing, which is keeping your eyes on NFTs.
Cryptoassets are a highly volatile unregulated investment product.
OpenSea User Experience ⭐⭐⭐⭐⭐
In addition to being a solid NFT marketplace, OpenSea also boasts a buyer and user-friendly interface. The site is easy to navigate and use, with a slick interface that’s sure to be appreciated by NFT traders of all skill levels.
Owners and creators can easily create custom assets by uploading various types of digital assets and assigning values to them. This is a feature that’s supported on both the web-based and mobile versions of the site.
Pro Tip: Download the mobile app to keep track of your NFTs in seconds!
Altogether, it’s an experience like no other marketplaces on the blockchain. As far as we’re aware, there’s no other decentralized marketplace that provides a better user experience for gamers, collectors, artists, and developers alike.
OpenSea Customer Service ⭐⭐⭐⭐⭐
The platform’s customer service department replies fairly quickly. While there is no hotline of any sort, you can reach out to them by sending them an email through [email protected]
The website doesn’t have specific information on their customer service hours, but I’ve never had any problem with contacting them in the past.
Additionally, most of the reviews I’ve come across praise the platform for its stellar support team.
OpenSea Pricing ⭐⭐⭐⭐⭐
One of OpenSea’s biggest selling points is its low fees. There are no monthly or annual fees, but the 2.5% fee for each sale on the marketplace is relatively low when compared to other decentralized marketplaces.
Remember This: OpenSea charges absolutely nothing to get started – don’t be fooled by any online scams asking you to pay a fee before you can get on board.
What I really like about the platform’s pricing structure is that it’s completely straightforward. It’s completely gas-free, so you don’t have to worry about paying a membership or upfront fee when you sign up.
Who is OpenSea Best For?
Collectors. Even if you’re not a gamer, there are plenty of fun NFTs to collect on OpenSea. There are plenty of developers creating new types of digital assets every day. These new assets can include:
- Video game items
- Crypto collectibles and non-fungible tokens
- Smart contract games
- Images and videos
- Music files, videos, and podcasts
- Domain names
If you’re a creative person that loves making art or simply enjoys looking at it, you’ll need to check out the site. Furthermore, it’s a great place to scout if you’re always looking for new NFTs to trade, collect, or sell in the future!
The Wrap-up
What Is The Software? OpenSea
How much does it cost? Free to use
Cons
Conclusion : OpenSea review – Would We Recommend It?
OpenSea is the perfect place for gaming enthusiasts to make a living. You can sell NFTs for profit if you’re a gamer, artist, or creative person.There’s an endless variety of product categories to choose from when you create new NFTs.
Also check out our other guides:
Cryptoassets are a highly volatile unregulated investment product.
Read More:
- DOJ Charges Former OpenSea Head With NFT Insider Trading
- Best New NFT Projects for 2022
- 12 Best Metaverse NFT Projects for 2022
Frequently Asked Questions
Below, we answer some of the most commonly asked questions about OpenSea.
What types of NFTs are listed on OpenSea?
Is OpenSea secure?
What are the gas fees on OpenSea?
Can I use OpenSea without a MetaMask wallet?
How do I get NFT on OpenSea?
How do I connect OpenSea to MetaMask?
How do I sell on OpenSea io?
How do I use OpenSea io?
Can I use Coinbase with OpenSea?
How does OpenSea make money?
How do I withdraw money from OpenSea?
What can you sell on OpenSea?
How many collections can you have on OpenSea?
Read more: DOJ Charges Former OpenSea Head With NFT Insider Trading
This article was written for Business 2 Community by Aneeca Younas.
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