How to Sell NFTs on OpenSea
There’s currently no better place to sell NFTs than on OpenSea. From cryptokitties to artwork to domain names, there’s no limit to the digital assets you can buy and sell on this platform. Maybe you spent some time getting familiar with how everything works and then bought or created your first NFT. The next question that naturally arises is, “how can I sell it?”
If you’re wondering this yourself, we’ve got you covered. In this article, we’ll provide step-by-step instructions for how to sell NFTs on OpenSea. Also, we’ll dive deeper and explain how to sell without paying gas, as well as how to sell domain names, cryptokitties, and more.
OpenSea – How to Sell?
If you’re here to sell on OpenSea, we can assume you already have a registered account. If not, you should know that only registered users with configured wallets can sell NFTs. If you want to flip an NFT you purchased or sell the one you created, doing so on OpenSea is relatively straightforward:
- Navigate to OpenSea.io and log into your account.
- Click on your profile picture in the top-right.
- Go to “Profile.”
- Pick the NFT you wish to sell from your wallet.
- Select “Sell” to get redirected to the listing page.
- Choose the type and price of the sale. You can set a fixed price or an auction. With the auction, enter the start price, expiration time, and price threshold. As for the duration, a sale can last for one day, three days, or a week.
- Once you have everything sorted out, click “Complete Listing.”
- For the first listing, you have to initialize your wallet. That means you have to complete two one-time transactions. The first one is to initialize your account for selling, and the other is to grant item access to OpenSea when a sale takes place.
- After paying the fees, confirm the details and post the item on the marketplace.
Use the “Activity” tab on the left-hand side to view the NFTs you put up for sale.
OpenSea – Cost to Sell
As previously mentioned, OpenSea requires all first-time sellers to pay two fees before making the first sale. Note that the price for these two fees isn’t fixed, and if you know what you’re doing, you can lower them as much as possible. But how?
First, the fees are paid in Ether. This means the price depends on the crypto’s value compared to a dollar or whatever your local currency is.
Much like minting, the two fees are transactions on Ethereum’s blockchain. Because of this, they take processing power to complete. To compensate for the energy required to process these transactions, you have to pay a gas fee.
At the time of writing, the first transaction can cost anywhere from $70 to $300. The second transaction is usually $10 to $30.
This price range is due to the gas fees. There are days when the fees are higher, and then there are the slow days when the fees are lower.
You can track the prices on www.gasnow.org. Ideally, you want to hunt for days when numbers are below 100. This is when you want to initialize the account to save the most money.
Apart from the one-time upfront fees, OpenSea takes 2.5% of your sales. You only pay this tax after the item is sold.
How to Sell on OpenSea Without Paying Gas
If you’re familiar with Etherium blockchain, gas fees on OpenSea are similar to the transaction fees you already know. When you transfer crypto to a different wallet or purchase an NFT on OpenSea, you should have enough ETH in your wallet to cover the initial transaction and the gas fees.
However, OpenSea recently introduced a new marketplace – Polygon, where you can sell NFTs without paying gas fees.
To create a Polygon collection, follow the steps below:
- Click on your profile picture and select “My Collections.”
- Click on “Create a collection.”
- Add the logo, banner, description, and set the royalties.
- You’ll be able to choose a blockchain for creating NFTs. Select “Polygon” from the dropdown menu.
Now that you’ve created a Polygon collection, here’s how you can sell your NFTs.
Sell NFTs on Polygon
- Navigate to the NFT you want to sell and select “Sell” in the upper right-hand corner.
- Set the selling price, currency, and potential fees.
- Select “Complete listing.”
- Click on “Sign” and sign the transaction.
That’s it! You’ll see a message saying, “Your NFT is listed,” and you can copy its link wherever you like to boost the visibility.
How to Sell Domain on OpenSea?
One of the many categories of things you can sell on OpenSea is domain names. If you want to sell your first domain name, follow the steps below:
- Navigate to OpenSea and hover over your profile picture.
- Go to “My Profile.”
- Click on the domain you want to sell.
- Press the “Sell” button in the top-right corner.
- Choose the selling options. You can choose between “Set Price” and “Highest Bid.”
- Fill in the details and select “Complete Your Listing.”
- If you use Metamask, click on “Sign In” under its logo.
- If you use a mobile wallet, select “WalletConnect” or “WalletLink” (depending on your wallet).
- Scan the QR code with your phone’s camera.
Done! Your domain is now ready for sale.
How to Sell Cryptokitties on OpenSea
If you have an adorable cryptokitty to sell, you can do so on OpenSea’s marketplace. Before listing the NFT for sale, use the marketplace to determine how much a similar kitty to yours costs. This will help you set up a fair price.
Once you do that, it’s time to sell. And here’s how:
- Go to OpenSea.io/account and click on the “My Items” tab.
- Click on the kitty you want to sell.
- Click on the “Sell” button. Fill in the starting and ending price, as well as the number of days you want your cryptokitty to be listed.
- Once you set all the parameters, select “Sell Item.”
- Click “Approve Contract,” then “Create Auction.”
The last two steps will generate a Metamask transaction, each with an associated cost. Metamask normally determines the network costs, but you’re free to choose your own as well. You can only start the cryptokitty auction once you submit both of these transactions and once they’re completed on the Ethereum network.
You can visit your auction by going to your account, then clicking on “My Auctions.”
How to Sell Mintable on OpenSea
As the second most popular NFT marketplace, Mintable has a fair share of items you can buy or sell. But what happens if you want to sell an item from Mintable on OpenSea? There is a simple trick to help you do just that.
All you have to do is transfer the NFT from Mintable to your wallet. OpenSea will pick up the transfer and show it on their database. Note that this includes paying a network fee of around $25.
Also, you don’t have to remove the transferred item from Mintable. It can be listed on both markets simultaneously, so you have a higher chance of selling.
Do You Need a Wallet to Use OpenSea?
Yes, you’re required to have a wallet to buy and sell on OpenSea. As you know, OpenSea is a tool for interacting with the blockchain. The company doesn’t own or store your NFTs. They simply allow peer-to-peer exchanges. Your use of the platform means you’ll interact with other blockchain users, so you need a wallet to turn the actions in the browser into blockchain transactions.
Ready to Sell Your NFTs?
OpenSea is an excellent place for selling NFTs. Whether you want to sell cryptokitties, cryptostickers, or other digital assets, you can do so here. But note that this can cost you a lot more if you’re not cautious. Make sure to initialize your account wisely by following the gas prices to save on your transactions. Other than that, OpenSea’s thriving community means your NFT will have plenty of exposure compared to some other marketplaces.
Which assets do you like to buy and sell on OpenSea? Have you tried any similar platforms before? Share your experiences in the comments below.