How To Sell An NFT On OpenSea (In A Few Steps)

12 Dec 2023 by Harry Newman 4 min read

Knowing how to sell an NFT on OpenSea or any NFT marketplace is essential.

This involves a few steps, in this guide we will walk you through the process of how to sell an NFT on OpenSea, from setting up your wallet to listing it on the marketplace.

Selling NFTs and even purchasing NFTs is something most cryptocurrency users will end up doing at some stage in their crypto journey.

How to Sell an NFT on Opensea

When using OpenSea you are required to log in, this usually requires the connecting of a crypto wallet, if you do not already have an Ethereum-compatible wallet it is best to create one, such as MetaMask.

Ethereum is not the only blockchain compatible with OpenSea but it is the most popular.

Other blockchains that are supported are Polygon, Optimism, Arbitrum and Base.

Below is what you will see when first visiting OpenSea, users are required to navigate towards the ‘Login’ area and connect their wallet.

Once you have logged in you can navigate to your profile page, this will include all NFTs that you hold in that wallet, it is assumed that if you want to know how to sell an NFT on OpenSea that you already own an NFT.

Once you have selected the NFT that you want to sell you can press ‘List item’, if you own multiple of the same NFT you can list more than one at a time.

After you have selected ‘List item’ you will be met with the page below, you can enter the price you want to list the NFT at and the duration of the listing.

The listing will give you a rundown on the royalties taken by the creator of the NFT and the fee OpenSea takes. This provides you with a greater understanding of the costs involved.

Listing an NFT costs a fee in the form of a gas price, this depends on the blockchain you use.

Ethereum has high gas fees so it can become expensive to list NFTs, whereas Polygon has low gas fees. Make sure to have spare cryptocurrency in your wallet for this.

Once listed go to your profile and make your way to active listings, this will provide you with a view of your active listings.

Below is a view of what an active listing would look like.

The popularity of the NFT collection plays a big factor in how quickly an NFT may sell.

Once listed users can promote the listing to try and get a sale.

There is no way to guarantee that your NFT will sell, but the more popular it is the more likely it is to sell.

Things To Consider

When you have an NFT listed, it's important to actively manage and monitor the listing.

This includes regularly checking for any incoming offers and being mindful of the expiration date of your listing, updating it as necessary.

Stay on top of any offers you receive for your NFT. Evaluating these offers promptly can be key in successfully selling your NFT.

If your listing is nearing its expiration date and you haven't received acceptable offers, consider updating the listing. This might involve adjusting the price to make it more appealing.

OpenSea offers a messaging feature that allows you to communicate directly with potential buyers. This can be a valuable tool for addressing any questions or concerns buyers might have, potentially increasing the likelihood of a sale.

Selling an NFT, especially from a less popular or unknown project, can be challenging. It's important to be patient and perhaps explore different marketing strategies to attract buyers.

It's crucial to remember that investing in NFTs carries risk, and there is no guarantee of making a profit. The NFT market can be highly speculative, and values can fluctuate significantly.

Always consider the risk factors before investing in or selling NFTs.

Final Thoughts

Knowing how to sell an NFT on OpenSea is a straightforward process.

This guide aims to provide you with a clearer understanding of how to go about it.

To sell an NFT, you first need to own one.

If you don't already own an NFT, you can purchase one directly on OpenSea.

OpenSea aims to make the selling process as user-friendly as possible, catering to both experienced users and newcomers to the NFT space.

The platform guides the process, making it accessible to anyone interested in selling NFTs.

FAQ

How can I list my NFT on OpenSea?

First, you will need a crypto wallet and own an NFT, once you have these you can connect your wallet to the OpenSea website and list your NFT for sale.

What price should I list my NFT for?

If your NFT is part of a collection it is best to see what they are listed for and go from there, if you have rare traits on an NFT it is best to find what the minimum price for that type of NFT is.

How long does it take to sell an NFT on OpenSea?

The time it takes to sell an NFT can vary widely, factors like price, market demand and how you effectively promote your NFT listing play a significant role.

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