How to make money on OpenSea – One of the many ways of earning money nowadays is through this magical thing called NFT. A non-fungible token, an existence that allows people to trade digital items and earn profit.
And to facilitate this act of selling NFT, there’s a platform called the OpenSea that you can use to trade NFTs with other users on the internet and earn bucks that way; in this article, we’ll be detailing how to make money on OpenSea from NFT.
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Understanding OpenSea
Before we get into how to make money on OpenSea, it’s good to refresh ourselves on what OpenSea even is as a platform.
OpenSea is an e-commerce platform where users can buy and sell non-fungible tokens (NFTs). This platform is a marketplace for buying, selling, and collecting unique digital items.
It is currently the leading marketplace for secondary market trading of NFTs. NFTs are tokens or cryptocurrencies that represent physical assets, like gold bars or real estate, or virtual items like a character or a piece of art.
NFTs as a way of earning money are at their highest highs at the moment as more and more big companies push the narrative of NFT as the future of art.
Thanks to this, there are a lot of opportunities to be made by following this how to make money on OpenSea guide.
Earning Money on OpenSea
1. Creating an account on OpenSea
If you’re interested in how to make money on OpenSea through selling NFTs online, the first thing you should do is register an account on OpenSea.
Creating an account on OpenSea is easy and straightforward. Start by going to OpenSea.com and clicking “Sign Up.” On the next window, click “Sign Up” and you will be taken to the login screen.
Next, you’ll be asked to provide your email address and password. After that, you will be given a verification link sent to the email you provided. Once you click the link, you will be logged in to OpenSea and you can start selling NFTs.
2. Get an NFT to sell
The first thing you have to do to sell NFTs is to get one to sell. This can be achieved in two ways.
One, you can find an NFT that you really like, one you think will be in demand in the future, and buy it even if it’s expensive right now. This option is good if you have enough money to spend on one NFT.
Two, you can go the other way where you create an NFT. This option is good for people who want to create an NFT because they believe that it is going to increase in value in the future.
So if you’re an artist that has a lot of paintings you’ve created, you can list those as NFTs and sell them at quite a high price.
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3. Set a price for your NFT
Once you have an NFT that you want to sell, the next thing you have to do is to set the price for your NFT. If you have an NFT that you created yourself and is wholly original, you can make it expensive.
But if you have an NFT that you bought, you have to make it cheap to earn money. You can set the price of your NFT manually or you can let the system do it for you. The system will set the price of your NFT based on its rarity.
Rarity can be determined by looking at the number of owners an item had, the activity it had on the marketplace, and the time it was first listed on the OpenSea platform.
The rarer your NFT is, the more expensive it will be.
Conclusion
So that’s the how to make money on OpenSea by selling NFTs guide. If you’re interested in selling NFTs, definitely give OpenSea a try as it’s one of the easiest ways to earn money from this new asset class.
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And if you need help with anything along the way, feel free to leave a comment below. We’d be happy to help! Now that you know how to make money on OpenSea, you can jump into the NFT game and earn some cash.
Happy selling! Now that you know how to make money on Opensea, head over there and start earning cash from selling NFTs. Once you have earned enough money, you can use it to buy any of the expensive items on the market.
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