NFTs are one of the foundations of web3. This series will introduce NFTs through 30 short articles, allowing everyone to understand and master the relevant knowledge about NFTs from scratch.
In the previous article, we discussed the process of purchasing NFTs on OpenSea. In this article, let's take a look at how to sell our NFTs.
To sell an NFT, you can go to your profile page on OpenSea, where you can view all the NFTs you own in your currently logged-in wallet. If you want to sell one of the NFTs, you can select it and click the "Sell" button. Generally, there are two ways to sell: auction or fixed price. Most of the time, we prefer to sell NFTs at a fixed price. You can enter the price you want to sell and set an expiration date. If the NFT is not sold by the end of the expiration date, the listing you posted for "selling NFT" will become invalid, and you will need to resubmit it.
One thing to remember is that every blockchain transaction involves gas fees. OpenSea and all trading platforms use two types of transactions: on-chain transactions (transactions on the blockchain) and off-chain transactions (transactions on their backend systems). Gas fees are only required for on-chain transactions, so you don't have to worry about gas fees every time you list an NFT for sale.
In addition to gas fees consumed when a listing is traded, OpenSea also charges a one-time fee to initialize the wallet for the first transaction. Once the NFT you listed for sale is purchased by someone else, the sale amount will be directly deposited into your digital wallet after deducting the transaction fee. Before listing an NFT for sale, you can generally search for the overall price situation of the NFT series to understand the floor price of the same series of NFTs. This can serve as a reference for your offer and help you sell your NFT faster.
If you don't want to sell an NFT but simply transfer it from your current wallet to another wallet or send it to a wallet of a family member or friend, we will discuss the specific steps in the next article.
More information:
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If you have 3 minutes, here is a detailed article from OpenSea on how to sell NFTs on their platform: https://support.opensea.io/hc/en-us/articles/360063498333-How-do-I-sell-an-NFT-
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If you have 4 minutes, this is a great video that explains the above process: https://www.youtube.com/watch?v=0mfoXe82xE8
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