Crypto Academy ||Season-2 ||Week-4|| Homework Post for @levycore|| Selling and Buying NFT

abdulsabor (58)mutedin SteemitCryptoAcademy • 3 years ago (edited)

In this lecture professor explain the process of selection the market and also explain the process of Buying and selling on the market. Professor explain advantages and disadvantages of market with detailed explanation. I learn many things regarding NFT and NFT market. Professor give us homework task consist of 4 question. I prepared my Homework task. I try to touch all the questions in a well manner. Let’s start the Homework.

Select the NFT market as you own that you want to try to sell and buy NFTs and why did you choose this market?

I select the most popular OpenSea market for selling and buying the Non-Fungible tokens. I select this market because it very famous. Ratting of this market is high. Non-Fungible tokens are more famous last year. Many types of work like Music work and types of Collection and other stuff like that sell on this market Electronically. Many NFT markets are trying to establish with NFTs. There are most famous market that are present like OpenSea, Niftygateway and Rarible etc. By using these market we can trade.

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How to Buy on OpenSea market?

We can buy a product on OpenSea market by following the steps that are define below. If you follow these steps then you will be able to do buying on Open Sea market.

Open the Website of OpenSea by Putting the link on Browser as www.opensea.io
Next we Click On the Profile picture and it show the Profile tab Click on it. Then it redirect to you on New Page.
Then next website requirement is to connect the wallet if we want to do buying of selling.

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Before Clicking on the Sign in Button we make sure we have wallet and wallet extension is add on the browser.
Then we Click on the Sign In Button to to connection the wallet.

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As you can see our Wallet is show on top right screen. The Click on the Next Button to process further.

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After Clicking or Wallet is connected Successfully the it redirect to home page of site. Next we click on the Buy Now * Button as marked on the top left of screen.
Then Show the product we select one product from them.
Click on the marked product as shown in figure.

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Next the Buy process is further done.
Then We can click on the Buy Now To do Buying.

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Now we can see that in Next figure our buying is done.
Only we need to click on the Add funds Button to complete the buying process.

Here i have not enough balance in my metamask wallet so, i do not perform this transation.

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How to do Selling on OpenSea market?

In the part we will how to do Selling on the OpenSea market in very easy steps.
Before starting the selling process we make sure that our wallet is connected OpenSea Market. Then we will be able to Sell.

Click on the Create Button as marked on top right of screen.
Then click on the My collection tab. as shown in figure.
Next page appears. Then we click on the Create button.
Next page we see the Product editor show.
In this we add the Product details like Name, Logo and discription as well.
I Added the "steem" logo and product name as "Abdulsabor" and Description as "Home work For @lavycore"
After adding the details then click on the Button Create
In Next screen we see that our Product is successfully created.
We need to add this product to our collection.
Click on the Add Item Button.
In following Screenshot we add the add in our collection.
Click on the Add Item.
Then fill all details that are require like Name Logo and description of Product.
After adding the details Click on Create button.

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Our product is added by clicking on the Create Button.
You can see in this figure our product is ready to sell.
Click on the Sell Button

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Next is showing form dashboard.
In this screen we also click on the Sell button as marked at top right.
Next screen we click on the Post Your Listing button to carry on the process of selling.

In this screenshot we will see our selling is done.
But, As we can see that our fund insufficient for making this transation.
Screenshot (286).png

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Advantages and Disadvantages OpenSea Market

Advantages	Disadvantages
It is most famous NFT Platform for selling and buying. It is more reliable this is why people use and prefer this market.	Frontend design of OpenSea website is so bad. This is why user stay on OpenSea for short time.
It is easier to trade on OpenSea. It is very easy to buy NFT product in OpenSea.	They charge high fees on the Ethereum Network. Most of people use MetaMask Wallet due to high fee charges.
We can connect many different types of Wallets on the OpenSea. Eleven wallets are able to connect with this market.	Selling is difficult and complex task then buying on OpenSea market.
We can Perform selling of those product that Even created in other markets such as Rarible, Mintbase.	This is big disadvantage of OpenSea market is that anyone can sell products that do not linked and owned by him. And to seller is make after long period of time.
User OpenSea is feel comfortable in the context of connecting the number of wallet to this market. They can easily do work with Open Sea	If we the structure of OpenSea regarding the selling and buy the artwork. It is to categorized. This is not a good. They should improve the category of artwork. In this way user feel easy in doing selling and buying.

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Conclusion

In this lecture we learn about the how sell and buy NFT at OpenSea Platform. Every trader who doing trading in crypto currencies should aware of NFT. Products of NFT should be well known n market to buy and sell. Every trader and should know about which platform to select for NFT Market. This is lecture is outstanding in which we learn about all above things and also learn about the advantages and disadvantages of NFT.
THANK YOU