Hello Steemians, Hope our day is going well? This week homework will make it my second time of participating in Prof. @levycore class. Here is my homework;

Before I move further to this week questions by @levycore I would like to briefly pinpoint on what NFT's means.

NFTs stands for Non Fungible Token. It is a digital collector item. It is designed to give you something that can not be copied. NFTs can be anything digital like audio, video, photos, music, artwork etc. It can not be traded or exchange at equivalency.

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Question

Make a Homework Task Post on the below Topics. Personal experience is urgently needed on this homework and posts should include your own screenshots as well.

(A)

Select the NFT market that you want to try to sell and buy NFTs and why did you choose this?

NFTs have if it's own special platforms (marketplace) which allows you to buy, sell connect your wallet and upload your image which you want to turn to NFTs. Examples are; Opensea, Rarible etc.

Opensea

source

Opensea is a peer to peer marketplace for NFTs. It includes digital collectibles, gaming items etc. Opensea is rated the largest NFTs marketplace built on Ethereum Blockchain. It was lunched in the year 2017. Opensea allow users to create there own NFTs but users must be a registered member. It allow buying and selling of items on the platform through a smart contract.

The movement of NFTs may heavily forcus on high dollar artwork sales from traditional auction house in 2021. Opensea has been one of a handful NFTs marketplace.

My reasons for choosing Opensea.

Opensea is the largest NFTs markplace that allow buying and selling of items on the platform. Opensea is secured by smart contract. It's a platform that charge user's low commission fee. It allow the users to be independent because it allow them to keep there item via smart contract (Ethereum wallet).

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(B)

How to Buy NFT.

Click on Explore, it will take you to a page where you will see NFTs you can buy

Click on the NFT you want to buy, it will display the price and every other information of the NFT

The next thing to do now, is to make payment by connecting to your Ethereum wallet. After the page of the screenshot above, it will take you to another page where you can sign in to your Ethereum wallet.

It ask me to connect to formatic wallet but I didn't have formatic wallet but I have Metamask. You can change the wallet by clicking on other wallet option. So please, click on Other Wallet Option

You can see list of different Ethereum wallet. Click on your choice and connect your wallet with Opensea to complete the transaction.

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(C)

How to Sell NFT.

The question on the list is how to sell NFT which I will be showing us via Opensea NFT's market place.

Go to your browser and search for Opensea,

Click on create

It will ask you to sign in to your wallet. Click on sign in or click on other wallet option to select the wallet of your choice.

After when you sign in, it will take you to your wallet page as you can see in the screenshot above. And from your wallet page, it will take you to my collections where you can create.

Please, click on create to create you own collectibles

*** Input your logo, name and store discribtion for the creation of your item.***

You must an item to sell before you can sell. After when you've created your item, you can now put them for sell. Go back to Opensea home

At the upper part of your screen click on collectibles. It will display different collectibles like my collectibles i.e your own collectibles, the one you can sell. It will also show you the one you can buy from the system.

Click on my collectibles, Click on the item you want to sell and fix the price. Follow the instructions because you will need to pay for the gas fee.

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(D)

Mention and explain the advantages and disadvantages of the NFT market you have chosen.

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Advantages of Opensea

Opensea as been the first and largest markplace for crypto collectibles and NFTs. Advantages of opensea are as follows;

1. Opensea is rated the largest NFTs markplace. It's a platform that allow buying and selling.

2. Opensea is secured by smart contract which makes the transaction more safe fron fraudulent transaction.

3. Opensea does not help to keep collectibles. You are always In charge of your asest i.e in your ethereum wallet connected to Opensea.

4. The platform charge low commission fee for buying and selling.

5. It allows you to create your own NFTs without the knowledge of any blockchain or coding.

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Disadvantages of Opensea

Opensea is a good potential market platform for collectibles and Non Fungible Token(NFTs). It is the first digital marketplace and they have been rated high by many users.

The disadvantage I discover when doing my homework and during Prof. @levyscore class was in searching for k of collectibles and NFTs, it is difficult to locate some collectibles but there are some that are easy to locate like artwork but it difficult to locate some. like music, videos and more which I think Opensea marketplace needs to work on.

And also the use of copywriter images, Users need to be wise and careful in using copyright image when creating there asset because they do not know if the copyright holder as given is permission to NFT's or not.

In conclusion, Opensea is top of the best marketplace For NFTs. I have gain all this with the help of @levycore class. A very big thank you to you Professor.