NFTs, or non-fungible tokens, are quickly becoming one of the hottest digital commodities. While not exactly new, the typically Ethereum-based tokens are quickly breaking into the crypto mainstream.
One of the more compelling platforms out there for buying and selling NFTs is OpenSea.
The site acts not only as a marketplace and auction site, it also offers an intuitive and code-free way to create your own NFTs – or even an entire series of them.
NFTs – A Basic Introduction
If you’re already familiar with NFTs, feel free to skip ahead. For the rest of us – what are NFTs and why are they suddenly becoming popular?
In the simplest terms, NFTs are Ethereum tokens that can’t be split up. They can only be held or traded in whole units. Every NFT is uniquely identifiable and some of them have only one total unit in existence.
Today, they are being used to represent ownership of something. It could be a digital item like a piece of art or a song, it could be an in-game item like a weapon or house, it could be a license to reproduce something (such as an intellectual property), or it could be proof of ownership of a real-world asset like real estate or a car. NFTs can exist on other blockchains but for now we’re going to focus on Ethereum-based ones like those offered at OpenSea.
If you’d like to dive into NFTs more, read our complete guide on how to create them and collect them here.
With that out of the way, let’s dig in to OpenSea and how buying, selling, and minting works.
Buying NFTs on OpenSea
OpenSea is a user-friendly, eBay-like platform that allows anyone to buy, sell or create their own NFTs. Like many DeFi platforms, OpenSea works with most modern Ethereum wallets like Meta Mask.
To start, visit the OpenSea platform’s official website and select the blue explore button. From there you can begin browsing collections, items up for sale, recently sold items, and more.
By default, prices are listed in ETH, but some…