OpenSea

OpenSea is a non-fungible token (NFT) marketplace that offers users the ability to buy, sell, create, and trade NFTs. It is the largest NFT trading platform, with more than three million active users and a daily trading volume of about $4.5 million as of January 2024.

Understanding OpenSea

OpenSea prides itself on being the first and largest NFT platform to provide essential NFT services. Before it was created in 2017, there was no platform for users to trade different NFTs easily. OpenSea was created as a solution to allow users to trade crypto collectibles and other NFTs with one another.2
The desktop and mobile dashboards open with two prompts to explore NFTs or create a new  crypto wallet. Or, if you already have a crypto wallet, you can connect it to the platform. You can explore the vast array of more than 2 million NFT collections or  create your own.2
OpenSea supports various categories of NFTs, ranging from art, music, collectibles, virtual lands, sports assets, domain names, and utility NFTs like membership passes.
You can easily identify the top and most trendy collections per category and narrow the results by periods of 24 hours, seven days, 30 days, or all-time. There’s also an option to select a particular  blockchain you prefer to explore.

How to Use OpenSea

OpenSea offers an intuitive and beginner-friendly user interface, which makes it easy to use and navigate. First, connect a crypto wallet to OpenSea to be able to initiate a transaction. Your wallet is what you use to interact with the blockchain to make payments or receive deposits. Because OpenSea is noncustodial, when you connect your wallet to the platform, your NFTs are not stored on it; instead, they are sent to your wallet address.

Here’s a list of crypto wallets that OpenSea supports:
  • MetaMask
  • Coinbase Wallet (WalletLink)
  • Trust Wallet
  • Fortmatic/Magic
  • Bitski
  • Bitget
  • Core
  • Phantom
  • Solflare
  • Glow
  • Opera Touch (mobile only)
  • WalletConnect
  • Kaikas

Connecting to OpenSea

Whether your crypto wallet is MetaMask,  Coinbase Wallet, or any of the others listed above, the process of connecting to OpenSea is the same.
Visit  OpenSea.io, navigate to the “Log In” section in the menu tab, and click on your wallet type. Your device will display a prompt where you are to input your public keys to connect to the platform. You must have some  ether (ETH) to connect your wallet.
After connecting to the platform, you can view all the  NFTs that you own on your account page. You can trade or sell your NFTs in the marketplace at will. The profile section lets you input your username, bio, email address, images, and social links.

Searching for NFTs on OpenSea

The “Explore” page is your gateway to browsing the wide range of NFTs available on OpenSea. You can explore collections by clicking on the category of interest or searching for a particular NFT you already know about.
The page lights up with the top NFT collections, some with animated logos and others with distinct static logos. Popular collections like  Bored Ape Yacht Club(and its variations) are among the entries in the “Trending” category.5
You can also search for NFTs on the “Stats” page. It contains more analytics features, including displaying the top NFTs in the last 24 hours by default. You can filter the results using category and blockchain, then further sort them by volume, time, price change, floor price, sales, unique owners, and items listed.6
You also can narrow your searches by setting your preferred price range for NFT collections, category, or blockchain and choosing between single or bundled items.

NFT Collection Features

After selecting an NFT collection, a new page opens with information about the NFT collection, including the creator's name, the number of items in the collection, total volume, floor price, and best offer. The page may also display links to NFT social media channels.
You can navigate the "Items" section to browse the collection or explore the activity, offers, or analytics sections to get insights. This section contains five status filters—categories for sorting through various NFTs. These filters help you narrow your search for the perfect buy. They are:
  • All: Displays all NFTs in the collection, helpful for browsing an entire collection to learn more about it.
  • Listed: Shows the NFTs in the collection that are listed for sale
  • On Auction: Shows NFTs and their corresponding bids
  • New: Distinguishes newly listed NFTs from older ones
  • Has Offers: Lists any NFTs that have current offers on them

How to Buy NFTs on OpenSea

To buy NFTs on OpenSea, fund your wallet with ether (ETH) and convert it to wrapped ETH (WETH), an Ethereum token with improved interoperability. Most NFTs can be purchased using ETH, WETH, AVAX, USDC, KLAY, and DAI. OpenSea allows a few other tokens, but fiat currency is not accepted.7
To buy an NFT, use the search bar to find the NFT you like, using the wide range of filters available to zero in on the best option. After selecting your preferred NFT, choose either the "Buy Now" tab to buy the NFT at the displayed price or the "Make Offer" tab to propose your preferred price.
A page will open for you to sign the transaction to complete your payment. If you make an offer, you must wait for the seller to accept or reject it. If your transaction is successful, your NFT will be sent to your wallet. You can view all the NFTs you bought in your profile's "My Collections" tab.

How to Create NFTs on OpenSea

You can create an NFT collection containing digital items like art pieces and music on OpenSea. Click the “Create” tab, and you’ll be redirected to the NFT item creation page, where you can add your NFT files with their names and description. Customize your NFT by adding properties, levels, stats, etc.