Steemit Crypto Academy Season 2 : Selling and Buying NFT

professor.png

Hello Steemian ...

Welcome to Steemit Crypto Academy Season 2

In Week 4th, we will learn Crypto Selling and Buying NFT

Before discussing how to use the Opensea Platform to process the NFT owned, it is good to get acquainted with NFT, especially if you are new to selling or buying NFT assets.

This rising crypto asset is one of the different cryptocurrency options with Bitcoin and other cryptocurrencies. NFT or Non-fungible tokens are digital assets that cannot be duplicated. This NFT cannot be used as a means of exchange but can be traded like physical assets.

While cryptocurrencies such as Bitcoin, Ethereum, and others are fungible tokens, they can be exchanged for other currencies with the same token value. In NFT, if tokens are exchanged, then the tokens obtained are entirely different from the original assets.
d153a89d-2b41-40e8-9834-b6e8b71a1a27.jpg

How NFT Works

NFT uses blockchain technology just like cryptocurrency. Blockchain technology makes tracking unique NFT code doable. That way, you can find out who the original publisher is, the first buyer, and the current digital asset owner.
This NFT technology does not prevent others from having copies of a digital asset. However, the NFT found a unique code on the asset. It became a valid proof of ownership. It works similarly to the certification of a physical asset.
Seeing how it works, NFT is a compelling enough option to purchase collectible digital assets. Not only that, this technology is a good step in efforts to eradicate piracy practices.
d153a89d-2b41-40e8-9834-b6e8b71a1a27.jpg

What Kind of Assets Does the NFT Include?

Any asset, as long as it is digital-based, can be treated as an NFT crypto asset. Call it Illustration, writings, memes, tweets, ball cards, etc., are already widely listed as NFT assets.

Today, however, digital artwork still dominates. A wide variety and types of digital art can be found in NFT's dedicated marketplace. These marketplaces sell these digital art assets with cryptocurrency transactions.
In addition, many other products use NFT. Examples include the New York Times and Quartz, both media companies actively selling article content in the form of NFT. You can also find NFT video content belonging to Paul Logan, who is a YouTuber.

These NFT can also represent physical objects, as Nike does with their sneaker products called CryptoKicks.
Twitter CEO Jack Dorsey sold his first tweet in the form of an NFT.

d153a89d-2b41-40e8-9834-b6e8b71a1a27.jpg

How to Buy and Sell NFT at Opensea?

Let's go into the main menu. We will explain how to transact NFT assets in OpenSea. Opensea is a marketplace that has a simple and user-friendly interface that allows anyone to buy, sell, or create NPCs.
OpenSea uses ethereum currency to transact. It would be best if you had a wallet on the Ethereum blockchain like MetaMask.

Straight away, here's how to buy and sell NFT at opensea.
d153a89d-2b41-40e8-9834-b6e8b71a1a27.jpg

How to Buy NFT at Opensea

1. Open opensea.io in your web browser

3E2BE0C31F57461DB648338A77B28D1D.png

2. Select Explore on the front page

3E2BE0C31F57461DB648338A77B28D1D.png

3. Select the NFT asset you want to buy

SC3.png

4. Open it, then select buy now to buy

SC4.png

5. If you have not connected Opensea with a crypto wallet, then a window like this will appear, select sign in, and connect with your crypto wallet

SC5.png

6. Last make a payment

SC6.png
d153a89d-2b41-40e8-9834-b6e8b71a1a27.jpg

How to Sell NFT at Opensea

1. On the front page, select create

3E2BE0C31F57461DB648338A77B28D1D.png

2. This window will show, you have to add the digital assets that will be sold into the collection first. Select create to create a new collection

SC9.png

3. After that, in this window, select add a new item

SC10.png

4. Enter your assets and fill in the data. Please give it a name, description, and URL that points to other information related to that asset. You can also provide additional data such as character names if your asset is a character or mascot, adding levels, and more.

SC11.png
d153a89d-2b41-40e8-9834-b6e8b71a1a27.jpg

Sell assets in collections

1. Re-access your collection by selecting my collection on the front page

SC12.png

2. Select the collection or asset you want to sell, then in this window, specify the price, type of sale, and other data

SC13.png

3. Then a window like this will appear. To sell assets, you have to pay the cost of gas or fuel. Please produce according to the price stated.

SC14.png
d153a89d-2b41-40e8-9834-b6e8b71a1a27.jpg

Additional tips when selling

When selling NFT, you should be able to choose the type of sale for your listing. Available options include fixed price, declining price, and auction.
For fixed prices and auctions, it may be apparent. At the same time, the price drop option includes the type of auction sale but more competitive. The cost of goods will drop periodically until the deadline you specify, and after exceeding the deadline, the deal is removed.
To list and sell assets does cost money to fuel. If you're new to the NFT but have many assets to sell, it might be worth waiting until the fuel price drops.
d153a89d-2b41-40e8-9834-b6e8b71a1a27.jpg

Disadvantages of Opensea

However, there is still a gap in the OpenSea marketplace platform. One of them is pretty challenging to find the desired NFT. The UI/UX in the categorized search section feels like it needs a lot of improvement because it is rather difficult to find items in a specific category.

An example for art assets. All the assets in this category are loaded into one 'art' category while there are many types of art itself, such as illustrations, music, memes, and more. So it took a little effor to find a more specific variety of digital artwork at Opensea.

Another issue is biased in copyright. Many materials take on elements whose copyright belongs to a particular franchise. Examples of many arts containing characters from Star Wars and Harry Potter, celebrity-related animated images and GIFs, and more.

It is not yet certain whether the copyright holder has given the NFT permission to use the elements that have something to do with them.But despite these shortcomings, Opensea is still a potential marketplace to use in processing your NFT. Quite more careful and wise course in its use.

In conclusion, NFTs are pretty widely used to purchase works of art. Buying and selling NFTs is relatively easy. It's just that you have to be clever at choosing the right time to sell it, so you don't lose.

d153a89d-2b41-40e8-9834-b6e8b71a1a27.jpg

Homework Task

Make a Homework Task Post on the below Topics. Personal experience is urgently needed on this homework and posts should include your own screenshots as well.

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

- How to Buy NFT ( Screenshot needed)

- How to Sell NFT ( Screenshot needed)

- Mention and explain the advantages and disadvantages of the NFT market you have chosen

- Conclusion

d153a89d-2b41-40e8-9834-b6e8b71a1a27.jpg

RULES

  • All homework posts should be posted in the community Steemit Crypto Academy .
  • Post Require a minimum of 300 words
  • Plagiarism is forbidden in Steemit Crypto Academy, Any attempt of plagiarism you will be reported.
  • For indonesian, the homework can be written in Bahasa
  • For Homework Task, add tag #nft, #levycore-s2week4, and #cryptoacademy.
  • Submit Homework Task from 3 MAY 2021 To 8 MAY 2021

Jangan Lupa Bahagia

follow_levycore.gif

Sort:  

Hi, Professor @levycore hope you are fine from this lesson I have to learn a lot here is my home work post link hope you will like it : https://steemit.com/hive-108451/@farhanali/crypto-academy-week-12-homework-post-for-levycore

Hello professor @levycore. Here I re-publish the link of my week 2 assignment that could not be voted on by the curators. I got 6/10 thanks a lot.

Link:

https://steemit.com/hive-108451/@perezzambrano/re-post-steemit-crypto-academy-season-2-an-introduction-to-non-fungible-tokens-nfts

Hi Professor @levycore, again wonderful class . Before I do my homework for this week I would like to reposted the link for week 2 homework. I got a grade of 7/10 but it could not be up-voted.

https://steemit.com/levycore-s2week2/@allbert/re-post-crypto-academy-week-10-homework-post-for-levycore-introduction-to-non-fungible-tokens

Here is the proof.

10.png

Thanks a lot.

Here is my homework task respected professor @levycore. I hope you like it.
https://steemit.com/hive-108451/@vaibhavsan/crypto-academy-week-12-homework-post-for-levycore
Here is the link to my tweet
https://twitter.com/Vaibhav35079677/status/1391408596240388098?s=19
Here is the ss of my tweet

Screenshot_20210509-203523.jpg

Thanks have a nice posts

Hello professor. It's been a wonderful run on the Steemit Crypto Academy so far.

I have a question. Do I necessarily need to buy and sell NFT when making my assignment post?

Hai @levycore !
Bagaimana kalo saya ikut kontes ini menggunakan bahasa indonesia ? Apakah bisa ?

Baca postingan lagi. Baca setiap kata.

Hello, professor @levycore, thank you for the amazing lesson. Here is the link to my homework.
https://steemit.com/hive-108451/@meniya/crypto-academy-week-12-homework-post-for-professor-levycore-on-buying-sand-selling-nft
Best regards.

I'm new here just got verified after my 1st achievement task how do i get to reach this stage... Im a newbie...

The lecture from you is awesome as always professor @levycore. I've made an entry for the task and I present the link to it below. Thank you.

https://steemit.com/hive-108451/@fredquantum/crypto-academy-week-12-or-homework-post-for-levycore-or-buying-and-selling-nft

Hi professor, Hopefully, you will be good. Here is my homework task for this post.

https://steemit.com/hive-108451/@steemlover63/steemit-crypto-academy-homework-post-for-levycore

Thanks a lot.

Hello professor, thank you for your excellent explanation on these NFT topics, here I leave my homework for your review.

https://steemit.com/hive-108451/@danay/steemit-crypto-academy-season-2-selling-and-buying-nft-danay

Dear @levycore you missed my post, you didnot checked it, kindly vote. thankyou

Thank you for this very informative class.

I want to mention that my homework task on the previous class by @alphafx hasnot been curated and it is 5 days already.

@LEVICORE MIRE LO QUE ME PARECE PARA ENTRAR
image.png

Hello @levycore, I had a good time reading through your work. I like how you discussed the topic using precise terms.

I have finished working on this week’s task, you can find it here

Hello professor @levycore, hope you are fine. Please i submitted my homework 3days ago but you have not been able to visit my post. This is my link, https://steemit.com/hive-108451/@meniya/crypto-academy-week-12-homework-post-for-professor-levycore-on-buying-sand-selling-nft
Thank you and warm regards prof.

Proffesor @levycore, This is a screenshot of the day i submitted. Pls, Kindly check on my assignment 😐

20210507_175244.jpg
Thank you for your attention

Good day professor @levycore, I made a repost for my week 2 work that missed curation and you reviewed and gave me 6.

Screenshot_20210503-084942.png
Screenshot of the review.

Here is the link to the repost sir.
https://steemit.com/hive-108451/@temitopef/repost-steemit-crypto-academy-week-10-homework-post-for-crypto-professor-levycore-or-an-introduction-to-non-fungible-tokens-nfts

Thanks as you kindly attend to it.

I have a question. Do I necessarily need to buy and sell NFT when making my assignment post?

Hey! Good evening professor @levycore I'm happy to have participated in your homework task for the first time... This is my entry below
https://steemit.com/hive-108451/@ezeemmanuel/cryptoacademy-week-12-homework-post-for-professor-levycore-on-buying-and-selling-of-nft

Hi levycore, I have made a task post about NFT. It has also let me take a deeper look at this new budding crypto buzz that has taken over by a storm.

https://steemit.com/hive-108451/@blind-spot/task-steemit-crypto-academy-season-2-selling-and-buying-nft

Hi, prof @levycore this is my repost of my homework post that you marked 7.5 but was not voted because I initially did not reach the 100sp requirement. But currently I have powered Powered up upto 100 sp and have also powered up my post by 100%.
https://steemit.com/hive-108451/@rich-ben/crypto-academy-season-2-week4-home-work-post-for-prof-levycore-selling-and-buying-nft-by-rich-ben-by-rich-ben-to-the-attention