Steemit Crypto Academy Homework Post for @levycore

Introduction.

Hello fellow steemians especially members of this community to my entry on this week's homework task. The professor lectured on NFT markets, selling and buying on NFT platforms. My entry is based on the questions asked.

Question 1:

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

The professor in his last lecture talked about what NFTs are and they're uses and gave us a homework on it. In this week's lecture, he has lectured on NFT markets, how to buy and sell NFTs.

Some of the popular NFT markets are;
• Opensea

• Rarible

• Crytokitties

• Superfarm, among others.

I would be elaborating on Opensea.

Opensea.

Opensea is one of the most popular user friendly NFT market where one can trade; buy and sell and also create NFTs. It allows for easy usage for users due to its user friendliness.

Opensea is a decentralized network that uses the Ethereum cryptocurrency as its default currency although it supports several wallets for transactions. It's very secure and reliable.

This network uses smart contracts in buying and selling of NFTs. Because of this, it doesn't require third part systems.

A very important feature in Opensea is the fact that it allows users ( buyer and seller) to enter into some kind of commitment before transactions are made. Because of this, there's very little or no risk involved in using this system for transactions.

Why I choose Opensea.

I choose Opensea for the following reasons;

• It has a very user friendly website and interface

• It employs smart contracts and as such is very safe and reliable. It's also safe in performing transactions because of the commitment both the user and buyer enter into.

• Creation of NFTs us very simple and easy on Opensea.

• It also supports numerous wallet types.

• There's easy trading of assets.

How to buy NFTs on Opensea.

Step.1:
Open the website https://opensea.io/

Step 2:
From the displayed page, click on explore.

Step 3:
Browse through the list of NFTs and select what you want to buy.

Step 4: Click on buy.

Step 5:
Verify payment by clicking on checkout.

How to create and sell NFTs on Opensea.

Step 1:
Open the website https://opensea.io/

Step 2:
Click on create to open your list of assets.

Step 3:
If you don't own NFTs already, click on create to create your own NFT

Step 4:
Select the logo of your asset, enter it's name and add a description. You can do so by dragging and dropping the logo.
I choose to name my item tron-on2

Click on create after this to open a display window.

Step 5:
Click on add item .

Step 6:
Select your created asset and click on add item.

Step 7:
A metamask window will open requiring permission to proceed and sell. Click on sign.

Step 8:
Click on sell at the top right corner to proceed from the resulting window.

Step 9:
From the opened window, select the price, etc and click on Post your listing.

Step 10:
Click on confirm to sell your asset.

I am unable to confirm purchase since I do not enough funds in my wallet as shown in my screenshots.

Advantages of Opensea.

• Buying and selling of NFTs is very easy due to the large size of the market.

• The system is very safe and secure as there's no third party systems involved Transactions are also safe and secure because of the commitment of buyers and sellers.

• Opensea is very user friendly and reliable. Because of this, more traders are attracted to this platform.

• Opensea supports various wallet types although it's default currency is from the Ethereum blockchain.

Disadvantages of Opensea.

• Plagiarism is very high on this platform since there are no measures to check plagiarized contents.

• Although we're in the cryptocurrency world, not everyone is acclamatised with it and as suchposes some
difficulties. The Opensea platform accepts only the cryptocurrency form of payment which doesn't favor everyone.

Conclusion.

I have from this informative lecture learnt what Opensea sea, it's advantages and disadvantages and how to buy and sell on Opensea.
I would like to say a big thank you to prof @levycore for his wonderful lecture.