OpenSea NFT Marketplace Review (2023). Non-fungible tokens, or NFTs for short, are some of the most popular assets around the world. With the ever-increasing popularity of cryptocurrencies, it looks like they are set for a long time to come! Some of these tokens come with an array of benefits for collectors. Making them a valuable commodity as well as excellent collector’s pieces. Acquiring these NFTs requires using the NFT Marketplace without slicing them yourself. Today, there are hundreds of them available, but OpenC was the world’s first marketplace. As a result, it is one of the most trusted and widely used online marketplaces that hosts. A wide range of niche as well as mainstream NFT projects.
NFTs and OpenSea
NFTs are becoming increasingly popular in the crypto world, and there are hundreds of thousands of them to choose from. The most common question that remains is: Where to buy these tokens? For many, their first port of call is OpenSea. OpenSea is the original and arguably the largest NFT marketplace available online today.
Founded on December 20, 2017, during the height of the 2017 crypto craze. Based in New York, United States, it boasts a large array of projects and pieces. Is one of the most popular among new and old NFT investors. It is one of the trusted marketplaces. But what makes it so great? In this OpenSea review, we explore the OpenSea website, its app, and its marketplace. Next, we share our final thoughts on OpenSea’s offering and how useful it can be for investors like you.
OpenSea Review: The Website
The OpenSea website is the first port of call for NFT investors. Logging into OpenSea takes a few seconds, especially if you use a wallet like Metamask. Once connected, you can start purchasing artwork immediately. OpenSea Marketplace offers a really simple, user-friendly interface that offers a wide range of filters and categories. This makes them perfect for beginners discovering NFTs for the first time, and even for seasoned collectors who know exactly what they’re after! Being the largest NFT marketplace available means that there is a huge range of projects and collections, and it takes time to explore. Once you find the right piece for you, you can easily prepare your profile to show off to your friends.
OpenSea Review: The App
As expected from an established marketplace, the OpenSea app is well-streamlined and easy to navigate. Like the website, it seamlessly connects to your wallet and then displays your complete collection and profile. The app’s homepage displays an array of collections, including notable drops, trending collections, and most active collections. It lets you stay up to date with what’s hot on the app. The statistics section takes this a step further, offering detailed rankings and activity from the marketplace.
As with many NFT marketplace apps, the search function can be a bit slow and clunky at times. However, this can be forgiven if you consider the sheer number of projects that can be searched at any given time.
Purchasing an NFT through OpenSea
The platform makes it quick and easy to find, and purchase, NFTs across a variety of blockchains, recently adding support for Solana NFTs. To learn how to buy NFTs on OpenSea please see our “How to Buy an NFT On OpenSea” guide. The first purchase is a lengthy process that, although straightforward, adds friction to the customer experience. There are a lot of pop-ups and agreements that need to be accepted, especially if ETH needs to be deposited into Polygon as we did in the above guide.
Note that there is no need to repeat all these steps after your first transaction, and this makes future purchases much faster. Thus, make sure not to let this somewhat lengthy process, which may seem daunting to a beginner, deter you from using OpenSea in the future.
OpenSea: Listing an NFT
Likewise, if you want to remove a sale from the OpenSea Marketplace, this can be done just as quickly, meaning you have no problem floating your NFT and seeing what it’s for before deciding. What offers come in? Taking 2.5% of each transaction, OpenSea is slightly more expensive than some of its competitors. However, its massive user base, great reputation, and the sheer scale of its market mean that OpenSea can demand these fees. Regardless, it’s something to keep in mind when selling your pieces.
As NFTs grow in both value and popularity, it’s important to familiarize yourself with the different markets and whether they’re right for you. It makes searching, buying, and listing NFTs easy, and in just a few clicks, you’re working with minimal hassle, building your portfolio, and joining some amazing communities.
As discussed, OpenSea has its downsides, namely its fees from the seller. However, the pros far outweigh the cons, and I would personally recommend OpenSea to anyone looking to dive into or expand their NFT knowledge and collection. There’s a reason they’ve stayed on top for so long, and it looks like that will continue.