Tutorial: How to Buy & Sell NFTs on OpenSea
nishant medicharla
December 22nd, 2021

🐥 gm hatchlings!

Today we will be covering how to buy and sell NFTs on OpenSea, a decentralized marketplace to trade NFTs (non fungible tokens) and digital assets!

First, be sure to checkout these prerequisite guides

Once your crypto wallet is set up and you know a bit about what NFTs are, let us learn a little more about OpenSea!

🐟 What is OpenSea?

OpenSea is a decentralized NFT marketplace where you can post, buy and sell digital assets! OpenSea is a the largest NFT platform boasting over 80 million NFTs and conducting over $10 billion (USD) in trading volume 😳

Check out this video by OpenSea to learn more!

🐳 How can I buy an NFT on OpenSea?

  1. Visit Opensea.io
  2. Click the wallet icon to the top right, and connect your wallet to the site
  3. When buying an NFT on OpenSea, you’ll see one of three options:
    1. Buy Now - The seller listed a fixed price and you can buy it immediately by paying the listed price
    2. Make Offer - Owner hasn’t posted it up for sale, but make an offer and they can accept/decline it
    3. Place Bid - The seller is accepting bids until a certain date (auction) and the highest bidder gets the NFT
  1. Note: To place a bid or make an offer you need wETH (wrapped Ether), a cross-platform token that represents ETH’s value exactly 1:1
    1. You can wrap your ETH for wETH directly on OpenSea
    2. Once you’ve wrapped some wETH, you can place bids as many times as you want completely free!
    3. To learn more about wETH, visit their website here
Wrapping ETH for wETH on OpenSea
Wrapping ETH for wETH on OpenSea
  1. Visit a collection and select an NFT you’d like to own (we’ll be looking at Crypto Coven!)
    1. Note: Floor price refers to the lowest price of an NFT in the collection (aka the minimum price of the collection)
  2. Click Buy now or place bid to purchase or bid depending on the NFT you want!
  1. Click Confirm checkout and wait for a confirmation message!

🖼 That’s it!! You have officially bought your first NFT!

You should be able to view it by clicking on your profile in the top right corner on OpenSea!

Click this icon to edit your profile & view your NFTs!
Click this icon to edit your profile & view your NFTs!

📌 How do I Sell NFTs on OpenSea?

Now that you own some NFTs, it’s time to look at how you would sell them on OpenSea!

  1. Go to your Profile by clicking the person icon to the left of the wallet icon
  2. Click the NFT you would like to sell
  3. Click Sell to open the Listing Menu
  1. As a seller, you have two options:
    1. Fixed Price - Set a fixed price for any number of days
    2. Timed Auction - Set an auction for a number of days where the highest bidder wins
  2. Let’s sell our NFT at a fixed price
  3. Enter the price you would like to sell at and click Complete listing

Note: To finalize your sale, you will have to do a few things first with your wallet first

  1. Initialize your wallet - You will need to do this only if it’s your first time selling on OpenSea
  2. Approve this item for sale - You will need to approve every item for sale, but once you do, re-listing the item is free (only a signature request will be needed)
  3. Confirm listing - Confirm the signature request to finalize your posting

Once you get your confirmation message, that’s it!

🥳 You’ve officially posted you first NFT for sale!

We hope this guide was helpful and easy-to-follow!

Be sure to checkout our Mirror and follow us on Twitter for all things web3!

💕 Stay curious frens!

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