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Are there any commissions when selling on OpenSea?
Developing a new NFT and listing it is free using Collection Manager, making it fairly easy to populate a digital artist's portfolio with tokens. Moreover, the token will not be recorded in the blockchain until the first sale or monetary transaction is made on the platform, therefore, it will not require additional expenses.
The sales process includes a standard commission of 2.5% of the total price of the lot. This amount will be paid by the purchasing party.
Almost the entire process from developing an NFT to completing a sale is done without the need to invest any money. The cost of the transaction fee will be borne by the buyer, which provides new customers with the opportunity to earn money using their own tokens.
How much can you earn
Ways to make money on OpenSea include:
- 1. Create and sell your own NFTs: Users can generate and sell their own non-fungible tokens.
- 2. Purchase and resale of other people's NFTs: you can purchase from other authors for the purpose of further resale.
However, if you sell works that are not supported by a well-known brand, you will not get significant income. Typically, income in this case can amount to no more than a few tens of dollars monthly.
But famous artists sometimes make millions from NFTs. Thus, the Beeple collection, including 5,000 works, was sold at auction for $69.34 million. The token, featuring Homer Simpson as Pepe the Frog, started at $500, but after 11 months its value had risen to
$38,000.
Another way to make a profit is to sell NFTs on OpenSea, representing assets from popular online games, such as weapons, land and armor. The peculiarity of such NFTs is that they can be used in the game until the transaction is completed. This can be a really lucrative endeavor, and it's worth taking a look at your digital assets: you may have something valuable that could be purchased.
What is a bot in OpenSea?
To manage trading operations on the platform and ensure control over trading operations, experienced users often turn to the OpenSea bot. This is a special software solution that connects to the service using an API. It monitors the market situation and automatically places an order to buy a token under the client's nickname.
Such robotic programs are widely used in financial markets, and for NFTs they are becoming increasingly popular due to the growing interest in digital art. This area requires a high reaction speed to events: less than a second, and in such cases manual control becomes ineffective.
On the OpenSea platform there are many different bots developed by programmers to automate processes. The official OpenSea channel on Telegram also provides the opportunity to receive up-to-date news and advice on the use of bots and other aspects of the platform.
Why doesn't OpenSea open in Russia?
More than a year ago, the United States imposed sanctions against Russia, within the framework of which restrictions were introduced on the activities of American sites on the Russian market. This restriction had an impact on the functioning of Opensi in the Russian Federation.
Sanction restrictions came into force for the NFT platform in mid-April 2022, and many Russian clients were blocked in a short time.
Users who have been blocked have been sent a formal notice from OpenSea indicating the reason for the block, which is that they "do not comply with the terms of service." In addition, it was announced that their tokens would be removed.
The rapidly developing area of NFT has faced the negative consequences of restrictions, however, there is a web resource on the network with the domain name OpenSea ru, similar to the OpenSea service, but engaged in the sale of recreational goods.
