NFT is a digital asset on a blockchain network with a unique and distinct identification number and information. Here’s how to build and sell your own. According to the book “NFT & Metaverse: Blockchain, Virtual World, & Regulation,” a Non-Fungible Token (NFT) is a digital asset on the blockchain network with an identifying number and metadata that are unique and distinct from one another (one of the kind). NFT can also be viewed as computerised assets representing different tangible and intangible items that are thought to be one-of-a-kind. NTFS, like other financial tools or assets, gains value through market forces.
NFT is often exchanged using an auction method, which may be available on numerous web platforms, including OpenSea. In a nutshell, OpenSea is a marketplace where NFT owners, dealers, collectors, and buyers may conduct business.
NFTs that wish to sell on OpenSea or other marketplaces must have at least three points or satisfy three major conditions to sell in the digital market. Scarcity or rarity is the first advice for making NFT sell rapidly on OpenSea or other markets. “NFT must have a scarcity or uniqueness factor so that it is not widespread,” Teguh stated. The second advice is to sell NFT as rapidly as possible on OpenSea or other markets. NFT must provide enhanced or increased value to potential buyers. The final strategy for swiftly selling NFT on OpenSea or other markets is to use the community. “Community, NFT’s work will be effective if it is founded on the common interests of many members in the community.”
“In order to have value, community, NFT’s work will be effective if it is founded on the same interests of many persons,” he stated. Based on these considerations, Teguh concludes that NFT becomes particularly appealing for artists who have distinctive or distinct works from one another. “NFT is likely beneficial for artists or content providers since it allows them to sell their works of art directly to viewers without interference from third parties. So that art makers may entirely control all earnings, “He stated.
OpenSea is the first and largest NFT trading platform in the world. OpenSea has 300,000 users and over 34 million NFT, which includes images, movies, and other media. To deal on OpenSea, the majority of merchants and buyers utilise Ethereum, a cryptocurrency type. To begin buying or selling on OpenSea, you must first create an account. You must have a bitcoin digital wallet before registering for an account with OpenSea. The digital wallet functions essentially identically to Shopeepay. Digital wallets for cryptocurrencies are used to convert your money into cryptocurrency. Before you can begin trading, you must first create an account with OpenSea.
Here’s how to register an OpenSea account for buying and selling NFT:
- Open the OpenSea site via a laptop or mobile browser, according to where you have installed the digital wallet. This time, OpenSea is opened via the Google Chrome browser on a laptop
- To start registering an OpenSea account, Click the wallet icon or profile photo icon, then select the “Connect Wallet” option
- Select the digital wallet you have used, for example, MetaMask
- Then, open the MetaMask extension installed on Google Chrome by clicking the puzzle icon, which is usually next to the site search field.
- Then, click the “Connect Wallet” option. Then, your MetaMask digital wallet will connect to OpenSea
- Next, click the “Account” option, then click the “Profile” option to set up your profile in OpenSea
- Enter your username, e-mail address, and so on, then click the “Save” option
- OpenSea will send a message to your e-mail address. Open the message to verify the OpenSea account creation request.
- You now have an OpenSea account and are ready to sell and buy NFT in this marketplace.
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