OpenSea Review 2022 – Is it Safe?

The past few months have seen a flurry of news about blockchain gaming. With the release of CryptoKitties in late 2017, the world’s attention was turned to the Ethereum blockchain, and developers began to explore its potential for decentralized game design.

Now that we’ve had some time to get acquainted with this new technology, it’s high time we start looking at the specific applications that are coming our way. OpenSea is one such platform: an NFT marketplace built initially as a marketplace for CryptoKitties.

Since then, it’s grown into a market built on Ethereum. Find out more about the “new” kid on the block in this OpenSea review.

How Does OpenSea Score?

What is OpenSea?

OpenSea is an NFT marketplace built for Ethereum. Founded in 2017, it works as a platform for listing and trading non-fungible tokens created on the blockchain. Did you know that OpenSea is also considered one of the best NFT apps available in 2022? 

Although the first version of OpenSea was designed with CryptoKitties in mind, it quickly became apparent that there was potential to create a more general platform. The company soon adopted the name “OpenSea”, and began designing an Ethereum NFT marketplace that would support many different types of blockchain games and applications.

In this way, OpenSea seeks to be the “Swiss Army Knife” of the industry. It will allow developers to create new types of games and applications without having to learn specialized programming languages or deal with a single wide-ranging blockchain protocol. This is important because it gives developers the ability to work on emerging markets without having to learn new tech first.

 

OpenSea was founded by Devin Finzer and Alex Atallah who are known as the first NFT billionaires. However, the company is no longer a CryptoKitty-focused entity. It’s grown into a marketplace for various digital assets such as:

• Art
• Domain games
• Game items
• Music

OpenSea Summary

OpenSea is an NFT marketplace built as a platform for listing and selling non-fungible tokens (NFTs).

It was initially built to support CryptoKitties but has since expanded to become one of the most popular NFT marketplaces in the world.

OpenSea is considered to be the “Swiss Army Knife” of blockchain gaming because it allows developers to create new types of games and applications without having to learn specialized programming languages or deal with a single wide-ranging blockchain protocol.

Since it’s built on Ethereum, you’ll need to secure an Ethereum wallet to use OpenSea. Furthermore, it also boasts an impressive list of features:

• Gifting NFTs
• Minting NFTs
• Multiple crypto wallet options
• Referral rewards
• Filters
• User-friendly interface
• NFT creation
• Buy and sell NFTs
• Hide your NFTs from your profile
• NFT auction
• Sell NFT bundles
• Rankings page
• Rarity traits
• Liking NFTs

OpenSea Features ⭐⭐⭐⭐⭐

There’s a reason why OpenSea is as popular as it is now. It’s chock-full of features that many NFT traders love. Think of it this way: the developers were able to create a decentralized marketplace that seemingly answered every NFT trader and collector’s wishes.

Below, we’ll talk about some of its most notable features in detail.

Create, Buy, and Sell NFTs

To begin with, you can both create and find the best NFTs to buy inside OpenSea. You can do this by uploading your own artwork or other digital assets and selling them to other traders. OpenSea allows you to upload any type of digital assets, such as:

• Movies
• Books
• Images
• Videos
• Sounds
• Weblinks
• Music files and videos

If you love making art, you can use OpenSea to create new types of works and sell them for profit. You should also consider looking into an NFT auction.

If you’re a gamer like me, there are plenty of fun NFTs to get your hands on. You can also find fun games here too. There are so many choices here for all kinds of different interests.

Multi Crypto Wallet Options

Most marketplaces rely on one or two cryptocurrency wallets. However, OpenSea supports several. Here’s a complete list of cryptocurrency wallets supported by the platform:

• Coinbase
• Portis
• MetaMask
• TrustWallet
• Bitski
• Dapper
• Kaikas
• Authereum
• Formatic/Magic
• OperaTouch
• Torus
• WalletConnect
• WalletLink

These wallets give you a wide range of options for accepting and making payments.

Completely Free

OpenSea is completely free to use initially. However, the platform does charge a 2.5% fee for each sale made on the marketplace. However, there are no monthly or annual fees.

Gifting

The one feature on OpenSea that truly sets it apart is gifting. For example, if you want to gift someone an NFT, all you need to do is send them the Ethereum address of a specific wallet. A trader will then receive the asset from the developer, and it will be added to their existing list of NFTs.

NFT sends transactions regardless of whether the trader has an account or not. If they do have an account on the platform, you can send the NFTs directly to their OpenSea account.

NFT Minting

In addition to buying and selling existing NFTs, developers can also mint new ones. To do this, you’ll need to access the OpenSea API. You can do this after creating an account with the platform. 

However, this requires the creation of a new wallet on the platform. Doing so will give the developer control over what types of assets can be minted by anyone on OpenSea in the future.

OpenSea also supports a built-in feature for creating custom asset names. If you want to create a new type of NFT that’s not yet supported by the platform, you can do so easily.

Referral Program

There’s more than one way to earn NFTs on OpenSea. Here, you can earn ETH by sending in referrals or new buyers. Think of it as an in-house affiliate program. If you refer new users to the platform, you’ll earn a minimum of 1% of the sale if they make a purchase.

Pro Tip: Use your referral code when you promote your NFTs and double your earning potential!

Resources

From how-to videos to helpful blog posts that cover how you can get started on the website, it’s safe to say that OpenSea is designed to make sure you’re as informed as possible. There is a wide array of resources available on the website to help you understand everything from taxes to how you can mint your own NFTs on the platform.

I like how helpful the resource library is. Not to mention, their FAQ section is incredibly thorough. Despite their stellar customer support track record, there’s hardly any need to contact them for additional information since most of it is already provided on the website.

The Mobile App

To say that OpenSea is a truly progressive platform would be an understatement. Their dedication to cultivating an NFT marketplace that is both accessible and convenient for traders and collectors of every level is unsurpassed.

Take their mobile app for example. The app is well-designed, easy to navigate, and completely free. You’re able to check on your NFTs wherever you are without much fuss, which makes it easier to keep track of your transactions on OpenSea.

I like how the mobile app features a clean, no-fuss design that keeps you focused on the task at hand. There’s very little to distract you from what you should be doing, which is keeping your eyes on NFTs.

OpenSea User Experience ⭐⭐⭐⭐⭐

In addition to being a solid NFT marketplace, OpenSea also boasts a buyer and user-friendly interface. The site is easy to navigate and use, with a slick interface that’s sure to be appreciated by NFT traders of all skill levels.

Owners and creators can easily create custom assets by uploading various types of digital assets and assigning values to them. This is a feature that’s supported on both the web-based and mobile versions of the site.

Pro Tip: Download the mobile app to keep track of your NFTs in seconds!

Altogether, it’s an experience like no other marketplaces on the blockchain. As far as we’re aware, there’s no other decentralized marketplace that provides a better user experience for gamers, collectors, artists, and developers alike.

OpenSea Customer Service ⭐⭐⭐⭐⭐

The platform’s customer service department replies fairly quickly. While there is no hotline of any sort, you can reach out to them by sending them an email through [email protected]

The website doesn’t have specific information on their customer service hours, but I’ve never had any problem with contacting them in the past.

Additionally, most of the reviews I’ve come across praise the platform for its stellar support team.

OpenSea Pricing ⭐⭐⭐⭐⭐

One of OpenSea’s biggest selling points is its low fees. There are no monthly or annual fees, but the 2.5% fee for each sale on the marketplace is relatively low when compared to other decentralized marketplaces.

Remember This: OpenSea charges absolutely nothing to get started – don’t be fooled by any online scams asking you to pay a fee before you can get on board.

What I really like about the platform’s pricing structure is that it’s completely straightforward. It’s completely gas-free, so you don’t have to worry about paying a membership or upfront fee when you sign up.

Who is OpenSea Best For?

Collectors. Even if you’re not a gamer, there are plenty of fun NFTs to collect on OpenSea. There are plenty of developers creating new types of digital assets every day. These new assets can include:

• Video game items
• Crypto collectibles and non-fungible tokens
• Smart contract games
• Images and videos
• Music files, videos, and podcasts
• Domain names

If you’re a creative person that loves making art or simply enjoys looking at it, you’ll need to check out the site. Furthermore, it’s a great place to scout if you’re always looking for new NFTs to trade, collect, or sell in the future!

 

Conclusion : OpenSea review – Would We Recommend It?

OpenSea is the perfect place for gaming enthusiasts to make a living. You can sell NFTs for profit if you’re a gamer, artist, or creative person.There’s an endless variety of product categories to choose from when you create new NFTs.

Frequently Asked Questions

Below, we answer some of the most commonly asked questions about OpenSea.

What types of NFTs are listed on OpenSea?

OpenSea carries collectibles, artwork, sports, music, virtual worlds, web3 domain names, and many more NFTs.

Is OpenSea secure?

OpenSea is a decentralized marketplace that utilizes smart contracts to prevent the platform from being hacked or stolen. It’s always a good idea to use a wallet with two-factor authentication on it when trading NFTs.

What are the gas fees on OpenSea?

There are no gas fees on OpenSea.

Can I use OpenSea without a MetaMask wallet?

You need a MetaMask wallet to create a new NFT on the platform. However, you can purchase assets that already exist in the marketplace without having a MetaMask wallet.

How do I get NFT on OpenSea?

You can purchase NFTs directly from OpenSea, or you can create an asset on OpenSea and buy them on the platform.

How do I connect OpenSea to MetaMask?

To connect your MetaMask wallet to OpenSea, simply link the wallet to the platform by clicking the “link” button found on your OpenSea profile’s wallet list.

How do I sell on OpenSea io?

To sell on OpenSea, you need to have an asset. If you don’t have a certain NFT to sell, you’ll need to go through the process of buying one and then transferring it to your inventory first.

How do I use OpenSea io?

OpenSea is very similar to any other decentralized marketplace. You can search for assets, make a purchase, and interact with the platform with a MetaMask wallet.

Can I use Coinbase with OpenSea?

You can use Coinbase to purchase NFTs on OpenSea.

How does OpenSea make money?

OpenSea charges a small fee for every transaction that takes place on the platform. This small fee helps to ensure that asset transactions and smart contract transactions are completed as quickly as possible.

How do I withdraw money from OpenSea?

To withdraw money from OpenSea, simply locate the Ether token. Click withdraw to Ethereum, and input your desired amount.

What can you sell on OpenSea?

You can sell any NFT on OpenSea.

How many collections can you have on OpenSea?

You can have as many collections as you’d like. If you create a bunch of assets, you can organize them in different ways and search for them in your collections.