Buy OpenSea Views

OpenSea is known as the world’s largest NFT marketplace. You can find all of NFT’s items here.

NFT works are traded for millions of dollars. The climax is the work “Everydays: The First 5000 Days” by artist Beeple. Sold for up to $69 million. It sparks a new trend. Create a new industry, that is the NFT industry.

Opensea is one of the largest peer-to-peer NFT marketplaces in the world at the moment.

Almost all famous collections are traded on this platform.

What is OpenSea?

Known as the largest NFT market in the world. You can find all of NFT’s items here.

From pictures, game items, domain names, virtual real estate. To digital representations of real-life physical assets.

OpenSea is like an eBay in the crypto world.

Transactions on OpenSea work peer-to-peer, so you don’t need to trust the other party to actually give you NFT when you pay.

As it is based on smart contracts on Ethereum. To process transactions automatically without the need for a third party.

Take eBay as an example. The buyer must pay the seller before they ship the goods. Meanwhile on OpenSea. Both the seller and the buyer put in place binding conditions to transact at a particular price. When these conditions are met. The deal takes place in a single transaction.

That’s because OpenSea uses what’s known as the “Wyvern Protocol”. To process purchases on their website.

Decentralized wallets like Metamask (and others). Is the only way that you can interact with OpenSea. Currently, they only accept payments in crypto, the most popular being ETH. You cannot pay by card or other payment methods.

Which OpenSea uses WETH for payment, roughly understood WETH is an ERC-20 token, equal in value to ETH. It is very convenient that you can directly exchange ETH via WETH right on OpenSea. You don’t have to go anywhere.

OpenSea will not own any of your NFT assets. They merely provide the infrastructure for peer-to-peer exchanges. Only you have full ownership of the NFTs in your wallet via private key or seed phrase. But since OpenSea is a private company, they still store other information like your email on their servers.

Supports various blockchains

In addition to the Ethereum network being the most popular, OpenSea also extends to Polygon, Klaytn, and Solana. Significantly lower transaction fees.

But in reality, the most famous and expensive collections are still on the Ethereum network. Despite the high fees. To show that the community still chooses the land of Ethereum to develop a new trend, NFT.

For tradable NFTs on Polygon, Klaytn or Solana. Then the NFTs have to be released from scratch on those platforms.

In August 2021 alone. OpenSea recorded over $3.5 billion in NFT trading volume. Compared to a trading volume of only $21 million in the whole of 2020. This is a sign of success.

In January 2022, Twitter announced that they would be using OpenSea’s API to allow people to claim their avatar is NFT.

I believe that in the future, almost other social networks will follow this trend. Users can post NFT photos and videos to their profile. In social networking platforms.

Relatively low OpenSea fees

In return, OpenSea provides a smooth infrastructure for your peer-to-peer NFT exchange. Then every time you sell a certain NFT, you have to pay them 2.5% service fee.

This fee is fixed. Whether selling NFT for $10 or $1 million, the fee is still 2.5%.