Steemit Crypto Academy – Season 2 - Week 4 - Post for @levycore

Hello awesome people, how is everyone doing today, weekend is here again, one of the best times of the week. So much fun and exciting things going on as we expect more great things to come in the upcoming new week. This week’s topic is about buying and selling NFT. Before we delve into buying NFT on any NFT platform, it is important to understand what NFT are/

NFTs – Non-Fungible Tokens

Whenever the name NFT is mentioned in the crypto space, it basically means Non-Fungible Tokens that runs on blockchain. Anyone who has been in the crypto space for at least a few moths now must have come across NFT because it has been on the limelight for months now and is currently one of the trending topics. We have all seen the success of NFT arts, especially the news concerning NFTs selling for thousands and millions of dollars per NFT art piece. This huge spike in prices of NFT pieces has raised a lot of attention of a lot of not only people in the crypto space but also digital artists and digital content creators outside the crypto space.

Non Fungible Tokens NFTs are basically tokens that represents the certification or unique identity of any digital asset on the blockchain, mostly the ethereum blockchain which has become extremely popular and go-to blockchain when it comes to NFTs. The good news is that any digital asset can become an NFT and once the digital asset has been turned into an NFT that is stored on the blockchain, that digital asset has become certified on the blockchain and each created NFT are unique with their own identity.

Once an artist creates a file, the artist can decide to use one of the NFT platforms to turn the digital file into an NFT… this can be anything, images, video, music, gif, or any digital file what so ever can be turned into an NFT and stored on the blockchain. Once the digital file is on the blockchain as an NFT, it authenticates the file and certifies the ownership of the digital file on the blockchain. This is one of the reason why NFTs have become so successful recently as people are willing to pay huge sums to gain ownership of some amazing digital art pieces.

NFT Marketplace – OpenSea

We have all seen the buzz around NFTs over the past few months now, many artists making huge profits from selling their amazing digital art pieces. All thanks to NFT marketplaces and NFT auction sites, that has made it possible for artists and digital content creators to sell their digital art pieces in form of NFTs. My favorite NFT marketplace is OpenSea which is one of the top and most popular NFT marketplaces with a lot of users.
OpenSea is basically an NFT marketplace where anyone can buy or sell Non-Fungible Tokens (NFT) digital arts. All that needs to be done is to have a compatible ethereum wallet like metamask and connect the wallet to the OpenSea platform.

Reasons why I prefer Opensea NFT marketplace

For me, there are good reasons why I like opensea a lot… some of the main reasons why I prefer the opensea nft marketplace is;

• Simplicity is one of the things I like about the marketplace, also, ease of use of the Ui as well. This is very important for me because it makes it less stressful to use the platform. Opensea makes it very easy to navigate around the marketplace to find amazing digital art pieces to buy.

• Lowest fees compared to a lot of other NFT marketplaces. We all know that anything that has to do with the ethereum blockchain consumes high fees. Even when buying or selling NFTs on marketplaces, there are fees to pay. However, Opensea has the lowest fees which makes it a great and easy to use marketplace for relatively new artists in the NFT space.

• Amazing features for auctioning and selling NFT. This is also one of the benefits of opensea martketplace because it gives a lot of features and configuration for auctioning and selling NFTs.

How to Buy NFT on Opensea

Buying NFT art on opensea marketplace is quite a simple and straight forward process. You only need to have matamask installed on your device with funds to purchase the NFT and also pay for fees. To do this,

• Visit the opensea marketplace website https://opensea.io
• On the landing page, click on the wallet icon, select the metamast option
• Connect to your metamask wallet

• Still on the landing page, click on explore to explore the various NFT arts and find the one you want to buy

• Once you have found the NFT art you want to buy, click on the art

• Click on buy now to purchase the NFT art

How to Sell NFT on Opensea

Opensea is great for digital artist that just want to use opensea for selling their NFT arts. To do this,

• Visit the opensea marketplace website https://opensea.io
• On the landing page, click on the wallet icon, select the metamast option
• Connect to your metamask wallet

• Still on the landing page, click on create to create your NFT

• Click on the create new collection “create" button to create a new collection

• Once you are done creating your new collection, click on “Add Items” to add item to your collection
• Click on add new item

• Fill in the details and information for your NFT
• Once you are done, click on create

Advantages and Disadvantages of Opensea NFT Marketplace

Advantages	Disadvantages
Simplicity and easy to use	Because of its simplicity and easy to use, there can be high traffic on the site
Lowest fees compared to the other marketplaces	Because of low fees, there are too many low quality digital arts
Only connecting of wallet needed to buy any NFT using ETH	Only cryptocurrency is accepted
Amazing features for auctioning	More features and flexibility needed for buying NFT

@levycore