With steady growth in the NFT market, all marketplaces are flooded with buyers, sellers and creators. One such marketplace where you can get millions of Non-Fungible Tokens is OpenSea. This OpenSea review will tell you every little thing you can do on this platform.
Opensea At a Glance
| NFT Type | Gaming |
| Blockchain | Ethereum, Polygon, Klaytn |
| Fees | 2.5% (for seller) |
| Services | Buying and Selling NFTs |
| Wallet | MetaMask, Coinbase, and Trust Wallet |
| Payment Method | SOL, AVAX, DAI, USDC, ETH/WETH |
| Platform | iOS, Android, macOS, PC |
OpenSea is known as the first and largest Non-Fungible Token marketplace for digital goods. It is a decentralized platform for trading crypto collectibles.
Pros and Cons | Opensea
| Pros | Cons |
| Competitive commission rates | Users must have an Ethereum wallet |
| Secure transactions | High minting fees |
| Houses the biggest selection of NFTs | Customer support needs improvement |
| Has a mobile app that launched in 2021 | |
| Simple and easy interface | |
| Educational Content | |
| User-friendly |
Top Perks of Opensea
Here are the Top Perks of OpenSea:
Extensive Selection of NFTs
With the Non-fungible token selection, OpenSea is the remarkable marketplace. They have a huge number of Non-Fungible Tokens available, and they keep adding new ones regularly. The best part is, you can find all kinds of stuff there. OpenSea has something special for everyone. It’s like magical online world full of exciting digital wonders just waiting to be explored and appreciated.
Great for NFT minting
If you want to create Non-Fungible Tokens, OpenSea has an easy minting process. The marketplace’s popularity could also help get more eyeballs on your Non-Fungible Token collection. If you’re trying to keep fees to a minimum, you can use the OpenSea Collection Manager to mint a Non-Fungible token collection without any upfront gas costs. You can also set a creator fee of up to 10% that you receive every time a Non-Fungible Token you created is sold.
User-friendly design
OpenSea is the standout Non-Fungible Token marketplace with a user-friendly design. Its easy to navigate and discover various Non-Fungible Tokens. The homepage introduces you to the marketplace and its noteable pieces. Its quick to learn how to browse OpenSea’s wide selection of Non-Fungible Tokens.
Multiple blockchain and payment options
Some marketplaces only use one network (most often the Ethereum blockchain), OpenSea has cross-blockchain support, so users can buy sell on four different blockchains. It also accepts multiple types of cryptocurrencies as a payment.
Fees
Opensea follows a straightforward fee model. You can easily modify the percentage anytime.
| Buyer fee | None |
| Seller fee | 2.5% |
| First time fees | One time gas fee for initializing content |
| Royalty percentage | Up To 10% |
Payment Methods
Payments on Opensea are made in cryptocurrency. The core cryptocurrencies the platform accepts are Ethereum, WETH, USD Coin, Solana, and Dai. Unfortunately, it does not support any fiat currencies such as U.S. dollar. You can use MoonPay for card payments, though fees are higher than top crypto exchanges.
