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1.8/5

174 reviews

№ 7 of NFT Marketplace

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If you like the ease of usability, you’ll likely appreciate OpenSea. Founded in 2017, it’s the first NFT marketplace and remains one of the largest. Touting over 80 million NFTs, OpenSea provides a user-friendly experience, making NFT ownership remarkably simple. You can mint NFTs, trade existing tokens, and collect digital works, including art, music, and virtual land.

General info

Truely score

Truely score heart icon
1.8/5

from 174 analyzed reviews

39%

Positive reviews

61%

Negative reviews

How is this calculated?

Our ranking methodology

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Latest Ranking

Position

7

-2

Out of 14 ranked NFT Marketplace

Email templates are great

Really appreciated by its users

Easy to install

Has everything you need

Money back guarantee

Free version is great

Professional

Money transfer issues

Suspected scam

Data loss

Customer support is unresponsive

Customer service is bad

Getting errors

Bad user experience

Service Fee

2.50%

fee per transaction

Get started

Free trial

Free plan

Features

Blockchain

Ethereum, Solana, Klatyn, Polygon

Access

Browser, Mobile, Tablet, Desktop

Messaging

Gas Cost

Gas-free

NFT Type

Artworks, Collectibles, Sports Memorabilia, Video Game Assets, Virtual Land, Memes, Domain Names, Music, Ticketing, Real World Assets, NFT Fashion, Identity, Miscellaneous Online Items

  • Top NFT Leaderboards

  • Buyer/Seller Panel

  • Ethereum-Based NFT Marketplace

  • Unique NFT ID

  • NFT Tracker

  • NFT Royalties

  • NFT Information

  • NFT Availability Status

  • NFT Inventory Storage

  • NFT Seller Information

  • Storefront

  • NFT Filters

  • Create Listings

  • Listing Status

  • Bidding Option

  • Wallet Connectivity

  • Auction-Based NFT Marketplace

  • NFT Minting

  • Gas-Free NFT Marketplace

  • NFT Configuration

  • Search Capabilities

  • Profile Customization

  • Dutch Auction

  • Lazy Minting

  • Buying and Auction

  • Unique Art Items

  • Ratings

  • Authentic

  • Tradable

  • Clarity

  • Art-Based NFT

  • Music-Based NFT

  • Trading-Card Based NFT

  • Collectible NFTS

  • Photography-Based NFT

  • Utility-Based NFT

  • Virtual Worlds NFT

  • Sports-Based NFT

  • Domain Names NFT

  • Beginner-Friendly Software

  • Browser-Based Software

  • Linux

  • Windows

  • iOS

  • Android

  • MS Surface

  • Web 3.0

  • Decentralized Network

  • Latest Sales

  • Top Sales

  • Etherium Pricing

  • Floor Price

  • Free Signup

  • Etherium Wallet Support

  • Email Support

  • Community Forums Support

  • NFT Creation Support

  • Multiple Blockchain Support

  • Multiple Ecosystem Interaction

  • Blockchain Information

  • NFT Metadata

  • Crypto Wallet Setup

  • Digital Wallet

  • Ethereum Wallet

  • Wallet Connect

  • Metamask Wallet

  • Credit Card

  • Debit Card

  • Token Price Analysis

  • NFT Price History Graph

  • Live Feed

  • Rankings

  • NFT Community

  • Price History

  • Transaction History

  • Recently Sold/Listed NFT

  • User Management

  • Ownership Rights

  • No Intermediaries

  • Third Party Links

  • Visitor Consent

  • General Data Protection Regulations (“GDPR”)

  • California Consumer Privacy Act (“CCPA”)

  • Children’s Online Privacy

  • Data Policy Disclosure

  • Services Privacy Policies

  • Digital Millennium Copyright Act

  • Blockchain Protocol

  • Secure Transaction

  • Klaytn

  • Coinbase Wallet

  • Artworks

  • Collectibles

  • Sports Memorabilia

  • Video Game Assets

  • Virtual Land, Memes

  • Domain Names

  • Music

  • Ticketing

  • NFT Fashion

  • Safety Platfrom

  • Recent Transactions

About the seller

Seller

Ozone Networks, Inc.

Company Website

OpenSea alternative services

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Frequently Asked Questions

OpenSea maintains the status of the largest general marketplace for user-owned digital collectibles, which often come in the forms of artwork, music, videos, digital real estate, and more. 


Through OpenSea’s platform, you can mint, buy, and sell NFTs.


The platform works like this:


Step 1: A user uploads (mints) a digital work to their collection on OpenSea.

Step 2: The user lists the work for sale in the marketplace.

Step 3: Buyers can then purchase outright or make an offer for the digital item.

Step 4: OpenSea will communicate the change of ownership between the wallets and the Ethereum network.

A few factors are driving OpenSea’s popularity:


The NFT Craze

The NFT craze and bull market took the web3 community by storm in 2021 and continues to evolve today, thus benefiting OpenSea as a first-mover in the NFT marketplace industry. As the old adage goes... a rising tide lifts all ships... no pun intended.


Simplicity

The platform has been praised for its ease of usability, diverse collections, devoted community of users, and many other desirable features, such as the support of Polygon and Solana.

As far as investing OpenSea for an ownership interest in the company, you cannot do so in a public setting. For example, purchasing shares of OpenSea on a stock exchange is not currently possible as it’s not a publicly listed company. However, being the largest NFT marketplace at the moment, it’s been predicted that OpenSea will go public.

Buying and selling NFTs innately comes with risks. Still, as far as security goes, OpenSea does an excellent job of protecting you from fraudulence and cyber attacks.


The management team stays proactive in staying on top of potential breaches by offering vulnerability report submission on their website. So anyone who notices any potential security threats can notify the team.


Despite the present preventative measures, it’s important to know there will always be bad actors in marketplaces who will attempt to trick you if given a chance. For instance, scammers would offer fake projects imitating another, trying to lure buyers into believing it is an authentic collection.


OpenSea does its best to spot and ban anyone who’s up to no good. However, it’s worth noting that there have been a few successful phishing attacks through OpenSea in the past. Nevertheless, to best protect yourself, double-check your transactions, counterparties, and project verification status. Plus, avoid suspicious messages.

Selling your artwork as NFTs on OpenSea could not be easier. And for that reason, many NFT enthusiasts of all levels of sophistication flock to the platform as a solution.


As a step-by-step,


Step 1: You’ll first need an OpenSea compatible wallet (such as MetaMask) to store ETH and NFTs.


Step 2: Next, after you’ve connected your wallet to OpenSea, you’ll be able to create a collection by following Create, My Collections, and Create New Collection.


Step 3: Once the collection is ready, you can create your first NFT using your artwork by clicking Add New Item.


Step 4: Here, you’ll be asked to input all metadata. The metadata refers to the item details, such as the image, video file, audio file, the name of the NFT, properties, external links, etc.


Step 5: Once you’ve created an NFT, you’re ready to list it for sale! To complete the listing, you’ll need to head over to the asset page, click Sell, choose the type of listing (fixed-price or auction), set the price, and post your listing.


Remember, as a first-time seller, you will be subject to a one-time gas fee necessary to validate your wallet on Ethereum’s blockchain.

The cost to mint, the process by which an NFT is initially forged into the blockchain, is free (OpenSea covers the cost). However, there are user costs associated with listing the newly minted NFT for sale on the platform.


There is a one-time network computing fee, also known as a gas fee, to initialize the seller’s wallet before the first listing can be displayed. Other fees incurred upon a secondary transaction include a platform fee in which OpenSea collects 2.5% of the total price and a gas fee to signify the change of ownership on the network. These gas fees are paid to compensate Ethereum miners for maintaining the integrity of the blockchain.


For all transactions after the initial sale, the buyer pays the gas fee if it’s a fixed-price listing. In contrast, the seller pays the gas fee when accepting offers from the market or during an auction.

When it comes to gas fees, the seller typically gets the short end of the stick. As a seller, there are a few scenarios in which you can face a gas fee: 1) the first time you list an NFT for sale on OpenSea, 2) when you accept an offer from a buyer, whether unsolicited or during an auction, 3) transferring or gifting an NFT to another wallet, 4) canceling an NFT listing, 5) freezing your metadata on a token, or 6) bridging ETH or withdrawing ETH to and from Polygon. As a buyer, you can face a gas fee when you buy a fixed-price NFT or cancel a bid.

Royalties, also known as creator fees, are payments collected and paid to the original creator of an NFT each time the token changes hands in the secondary market. Set by the creator during the minting process, royalties are determined as a percentage of the total sale price, never to exceed 10%. The seller of the NFT incurs the royalty fee.

There are a couple of popular ways to make money by flipping NFTs. However, like trading stocks or cryptocurrencies, profit is not guaranteed. So remember to do your own research before speculating on NFT projects!


1. Method 1: Find an NFT project that has not yet launched. Earn a whitelist spot in said project’s community which will usually grant you a discount on the presale mint price. Once you purchase, you can immediately list your NFT for sale at a higher price in OpenSea.


2. Method 2: Find a project that has already been minted publicly and that you believe will potentially rise in the open market. Buy one or more tokens at the floor price and hold the NFTs until you feel confident you can realize a profit from a sale.