Many people, who do not understand how works of art can find buyers for millions or even billions of dollars, have been introduced to a very different concept in recent years and their minds are thoroughly confused. These digital artworks, called NFTs, like other artworks, find buyers at unbelievable prices. Many digital assets, especially NFT OpenSea, one of the platforms where it is bought and sold, one of the most popular among them.

It is possible to say that OpenSea is a digital marketplace in its most general definition. You can buy and sell many different digital assets on this platform, especially NFT. All transactions are conducted through cryptocurrencies and the security of these transactions is also provided by blockchain systems. Bride Let’s learn more about OpenSea and let’s see what you need to know to use this platform.

What is Open Sea?

open sea; Developed by Alex Atallah and Devin Finzer and published in January 2018. It is a site for buying digital assets. Also known as a digital marketplace, OpenSea allows you to buy and sell digital assets called NFTs, as well as game assets, domains, and digital representations of physical assets.

All trading on the OpenSea website is conducted using cryptocurrencies. All messages made in accordance with the digital world by blockchain systems performed safely. The OpenSea platform manages this trading system by taking a certain share of all purchases.

What does OpenSea do?

Like so many things in today’s world, art has now gone digital. All these digital artworks are called Non Fungible Token, or NFT for short. NFT artworks cannot be copied and are digital assets that are irrevocably owned by the purchaser. NFT artifacts are produced and protected with blockchain technology.

If you ask me to buy an NFT digital artwork, OpenSea and similar digital marketplaces come into play. Just like we go to the supermarket to buy fruit, to the bakery to buy bread. If we want to buy NFT, we go to digital marketplaces like OpenSea. In other words, OpenSea is a website where you can buy and sell digital assets.

How to join OpenSea?

You can view all digital assets for sale on the OpenSea digital marketplace, which you can access without being a member via the link here. However I want to buy one Or when you say you want to sell digital assets, you must be a member of the platform. Subscribing to the OpenSea platform is completely free, but not very easy.

To join the OpenSea digital shopping site, you must first have a crypto wallet. In general, NFT trading Because Ethereum cryptocurrency is used It is recommended to have this wallet. However, since you can trade with all cryptocurrencies on the platform, any crypto wallet will work for you.

After you connect your crypto wallet to the OpenSea platform, just like when you sign up for a shopping site. You will be asked for some information. After sharing this information accurately and up-to-date, you can become an OpenSea member and trade digital assets as you wish on the platform.

How to use OpenSea?

Let’s take a look at the question that users are most curious about, how to use OpenSea? Let’s say you became an OpenSea member, liked some of the digital assets for sale and decided to buy it. don’t be hasty, some digital assets are sold for a fixed price, so they can be bought immediately. However, some go up for auction or only stay on sale for a certain period of time.

In the cryptocurrency you want to pay for the digital assets for sale on the OpenSea digital marketplace that you want to buy after bidding start waiting. When the process is complete and you have the right to purchase the digital asset, the transaction takes place and the work involved is yours.

Of the digital assets on the OpenSea platform, those listed for sale under the title On Sale, those bidding on Has Offers, those that are in presale, those that are Pre-Sale, those that are awarded Has Bounty, those that are auctioned are presented under the title Auctions, and those sold in bundles are presented under the title Bundles. While some digital assets find buyers at fixed prices, as some are auctioned, they become the highest bidder.

How does OpenSea work?

Although OpenSea looks like a well-known shopping site, Because they are cryptocurrencies and blockchains It has a different working principle. For example; When you buy a product from a shopping site, you first pay the money, the money is stored by the platform, the seller sends the product, you receive the product, you confirm the transaction and the money is transferred to the seller. If there is a disruption in this process, please contact the store site.

When you shop on OpenSea’s digital marketplace, such a process doesn’t work because OpenSea uses a system that inherits the Wyvern Protocol. In this system, whose security is provided by blockchain technology, neither the money is paid first, nor the product is delivered first. Both the buyer and seller enter into a purchase obligation. When an agreement is reached, all purchases are completed in one transaction. NFT is yours as soon as it is sold. If no agreement is reached, nothing will happen. So completely safe.

As with many transactions for the purchase and sale of digital assets, especially NFT, you can also make purchases through OpenSea. The base cryptocurrency is Ethereum. It is therefore recommended that OpenSea users have an Ethereum wallet. But you can also trade with another cryptocurrency. When you use another cryptocurrency, the transaction is completed by converting that currency to Ethereum.

Is OpenSea reliable?

We can say that OpenSea is safe as there have been no fraud complaints about it so far, but at this point it is no longer OpenSea. In a system secured with blockchain technology You don’t have to trust the platform or the supplier. Because blockchain technology provides an immutable security system, independent of individuals and institutions. It is currently the most secure digital data system.

Platform where you can buy and sell many different digital assets, especially NFT What is OpenSea, what is it for, how do you use it? We’ve talked about the details you need to know about the topic by answering frequently asked questions. You can share your thoughts on digital marketplaces like NFT and OpenSea in the comments.