Marketplaces: Opensea

OpenSea is the world’s first and largest marketplace where you can buy and sell NFT. It supports Ethereum, Polygon and Klaytn blockchains. You can browse through more than 34 million NFTs on this platform classified into dozens of categories, ranging from digital art to collectibles, game items, virtual worlds and domain names.

To sign up for OpenSea, you need an Ethereum wallet such as MetaMask, Coinbase Wallet or Fortmatic, and pay a registration fee to initialize your account. Many NFT platforms take upfront gas fees. A gas fee is the cost of validating transactions on a blockchain network.

OpenSea allows creators to mint NFTs without paying any gas fee, since the NFT is not transferred to the blockchain until the purchase is made. That means you can convert a digital file into an NFT for free and pay the gas fee when the item is sold. OpenSea also gets 2.5% after the NFT has been sold. For fixed price items, the buyer pays the fee and for auctioned items, the seller pays it.

All transactions on OpenSea are atomic, meaning the entire transaction happens or nothing happens. It’s not like eBay, where the buyer has to pay for the products up front. As a result, there is no trust issue regardless of which party acts first, thanks to the Wyvern Protocol.