Today, we’re teaching you how to participate in one of the most fun + important areas of crypto culture: purchasing a non-fungible token (NFT) on OpenSea.
Get rewarded for researching and buying an NFT. Sounds like a win-win.
What you will need for this Quest:
- ETH to purchase the NFT and cover gas fees
- MetaMask wallet (or another web3 wallet)
This guide assumes you understand how to use a MetaMask wallet. If not, you should watch this video, set up your MetaMask wallet, and add funds to your wallet before moving forward.
What is OpenSea?
OpenSea is a peer-to-peer marketplace for NFTs – showcasing everything from digital collectibles and art to virtual land and utility tokens.
Think of OpenSea as the eBay of NFTs, where you can bid on an NFT auction, mint and sell your own NFT, or explore the wild west of non-fungibles. OpenSea is where most NFT collectors go to discover and invest in almost any project.
How to Purchase an NFT on Opensea
Step 1: Choose your NFT on OpenSea.
Go to OpenSea and choose which NFT you want to buy. It’s smart to do some research on what NFT you want to buy beforehand, and perhaps we will write a more in-depth NFT investing guide in the future.
For the purposes of this tutorial, simply choose an NFT on OpenSea that you love and would be happy holding on to for the long term (>1 year).
Pro Tips*:*
- You may need to pay additional gas fees if it’s your first time purchasing an NFT on OpenSea.
- Toggle the filter
Buy Nowto buy instantly and avoid bidding on an auction and (unless you find something you want to make an offer on).
Step 2: Click “Buy Now” or “Place Bid”
Some NFTs are on auction while others can be bought right away. For this tutorial, we will buy an NFT that is ready for immediate purchase.
Click Buy Now and agree to OpenSea’s Terms of Service.
Step 3: Agree to OpenSea’s Terms of Service and Checkout.
Once you check the box, and click Checkout, you will be prompted to pay ETH gas fees for your NFT (tip: buy NFTs on weekend nights and for more affordable gas prices and use this gas tracker). Set the gas fee, and confirm your NFT purchase.
Step 4: Wait for confirmation.
Now you wait for the transaction to confirm! Depending how much gas you used, it could take 30 minutes or longer for the payment to confirm.
Once confirmed, your NFT will show up in your wallet and displayed on your OpenSea profile for the world to see.
That’s all you need for now!
Congratulations on buying an NFT on OpenSea!
Please let me (@JonahBaer) know if this tutorial was helpful or if you have any questions on Twitter or the RabbitHole Discord.