CRYPTO ACADEMY:::: HOMEWORK TASK FOR @levycore::::: by @sammylinks
Hello everyone,
I'm very grateful for our crypto-professor @levycore and @cryptoacademy for the continuation of this lecture on NFT . It's relatively a new Field that one can fully invest and enjoy many dividends.
However, I'm publishing this post based on the homework task given:
- Select the NFT's market and state the reason of selection.
- How to buy NFT on a selected market platform.
- How to sell NFT on the selected market platform.
- Mention and explain the advantage and disadvantages of the NFT market of choice.
- Conclusion
OPENSEA
This is a wonderful market platform for non Fungible Token projects. It was launched at 2017 with over 101, 000 users worldwide. It handle over $354 millions trading volumes of over 15.1 NFT'S projects which is arranged in more than 447,000 collectibles in this renowned NFT'S training platform.
This platform have a great friendly user interface that makes it easier for users. The team behind this platform has wonderful experience from many big tech giant firms like Facebook, Google etc.
How to connect my metamask Ethereum wallet with OPENSEA.
Since Opensea is a digital marketing platform that is built on Ethereum technology. One can effectively connect my decentralized wallets gotten from metamask with the opensea.oi.
After launching the opensea website on my webpage, I clicked on the OTHER WALLET OPTIONS to connect my Ethereum wallets accounts with the site.
I selected the METAMASK Because I have a wallet with them.
However, it is fully initialed with the METAMASK And now gave me the opportunity toSign up with my account with them into Opensea.
Then, I clicked on the CONNECT to sign in with my account successfully.
HOW TO BUY NFT ON OPENSEA.
This pages comes with explore which will aid the user to search and view several collectibles on this platform. I search and found this why would I care I'm just a cat.
This precious art is created by mad dog Jones. This piece of art attract me and I want to buy it. Firstly, I checked it's price history.
After that fundamental studies, I clicked BUY NOW with its price = $1.9 and to make a payment with crypto or Fiat currency.
HOW TO SELL ON OPENSEA.
To sell any piece using this platform. The seller will first create his/ her collectibles.
To do that, click Create and a page will displayed.
Click on My Collectibles and a page will open.
On the page, click on CREATE and a page will displayed where the details for the Collectibles will be provided.
And I use a picture for demonstration. I uploaded the chart and write its name.
I create royalties page to receive full reward for my sale.
ADVANTAGES OF OPENSEA.
Opensea is very unique and specially designed platform for the transaction of NFT'S projects. Many advantages of this platform includes:
- User friendly interface.
The platform and it's features is very easy to understand and operate by both the amateur and professionals. I'm barely new with it but I can explain in detail everything about it because of it's simplicity and "easy to use" services. - Unlimited trading services.
This platform allows anyone to transact with them at any time and day. This is very nice and reason for many trading volumes carried out by them. - Built on Ethereum technology.
Ethereum is one of the major crypto currencies in the world and it's technology allows many great platform to be launched on them. Because of this, Opensea can be connected with other decentralized wallets and platforms like metamask to perform wonderfully.
DISADVANTAGES OF OPENSEA
Opensea, like all other NFT's platforms have a lot of demerits Which includes:
- Low popularity.
Many people don't know about NFT's projects and platforms although enjoying the high patronage of many tech gurus. With more campaigns, many will know about it and transact with them. - Uncategorized collectibles.
In Opensea, it is very hard to locate a desired object of choice because all of their collectibles are grouped into Art. More improvement is needed. - Royalties problems.
The authenticity of the owners of a Collectibles are bone of contention in the platform. Making it very unclear whose right to receive the duly income. - Copyright claim.
Many NFT's projects are derived from already existing objects, places and person who don't know of such projects of value are numerous and it's a crime when they are enumerated from the income derived. This copyright crime is plaguing NFT's projects and more enlightenment and legislation should be encouraged.
Conclusion
NFT's projects is very lucrative and wonderful venture for investment. Opensea and other platforms makes it very easier and friendly for users of various types.
Thanks to @levycore, @alphafx, @kouba01, @steemcurator02 and @steemitblog for the encouragement, motivation and support.
This is very informative. Thank you so much
You are welcome
Hi @sammylinks, Thanks for submitting your homework
Feedback:
You have completed the task how to buy and sell NFT on opensea platform
Rating : 7
Thanks boss