This article takes opensea as an example to explain how to purchase NFT in detail.
Beeple made headlines by selling his NFT work for $69 million at the beginning of the month.People began to spend millions of dollars on various collectibles. NBA moments, digital houses, augmented reality shoes, music, books, etc., NFT has swept the world.So how do you make, buy, and sell NFT?
NFT is a new type of digital asset whose ownership is recorded on the blockchain.Each NFT is unique and non repeatable.Therefore, from this perspective, the buyer will be unique to the NFT he purchased.Of course, others may have copies of NFT's artwork, but they don't own the original.Because of its uniqueness, NFT, like works of art, has room for appreciation, and buyers can make more money through resale.
There are many ways to pay for NFT.NBA top shot allows customers to purchase by credit card.But most other platforms only require customers to use some kind of cryptocurrency to purchase.
In this article, we take opensea as an example to explain in detail how to purchase NFT.
Opensea is a large online gallery where visitors can browse digital art, transaction cards and other collections.It's like an online auction house, where customers can bid for an item or "buy it now" for a fixed price.
Before you start, you need to recharge your digital wallet.
Opensea's common currency is Ethereum.Opensea supports many digital wallets and recommends using the metamask digital wallet plug-in of Chrome browser.
First, we need to create a digital wallet:
- Click the profile icon at the top right of the opensea website.
- Click "get metamask"
- Select Install metamask for Chrome (or a supported browser of your choice).）This will install the chrome plug-in.
- Select getting started.
- Select Create wallet.
- Choose "no, thank you.".
- Create your password.
- Write down the seed phrase it gives you.This is very important, the seed phrase will give you access to your account when you forget your password.
- Click next, and then confirm the sub phrase.
Next, we need to associate the digital wallet with the opensea account:
- Click next to associate your opensea account with the metamask digital wallet you just created.
- Click connect again.
OK, now you have a digital wallet connected to opensea.Now, you need to buy some Ethereum that you can buy NFT on opensea.
You can purchase cryptocurrency through various channels.For example, the mainstream crypto exchanges, coinbase, Voyager, etc.But for simplicity, let's use the metamask digital wallet directly to buy Ethereum:
- At the end of the URL box, click the little jigsaw icon in the upper right corner of chrome.
- Click the metamask fox icon.
- Click "Buy". (If you already hold Ethereum in another account, please select "Deposit Ethereum directly." )
- Click "continue to Wyre"
- Select the number of Ethereum you want to purchase. Here, you need to pay a transaction fee of USD 5 and a network fee of USD 4.88. Therefore, please purchase all required Ethereum at one time, so as to avoid additional transaction fees caused by multiple purchases.
- Click next.
- Enter your payment information and phone number.
- Click "submit".
- Enter the payment verification code you received on your mobile phone.
- Authorize the purchase by entering the six-digit code of Wyre pending transaction in the bank account.
Here, you have purchased some Ethereum. In a few minutes, you will see the account balance update in your MetaMask account.
Now, you can bid and buy NFT. Let's go back to OpenSea. You can browse all NFT products for sale by clicking "Browse", and select your favorite one.
Suppose you like this CryptoKitties image named "Zuzu Meowfluff". Its purchase price is 0.005 Ethereum, which is about $8.96.
- To buy it, you need to:
- Click "Buy Now".
- Select "checkout".
- Click "submit".
Next, you must confirm the "Gas fee". Ethereum network needs Gas fee to deal with transactions, which is not fixed, but positively related to the degree of network congestion, at this time it is $18.18. Then, the whole transaction will eventually cost $26.68.
Now you have a cryptokitties NFT called "Zuzu meowfluff.".
So next, let's try to create and sell NFT.
There are many platforms to create NFT. Here we use rarable as an example to illustrate that it is connected with opensea
- Go to rarable.com and click create in the upper right corner.
- Create one or more (the latter is used to collect photos or collection cards you create).
- Select select file to upload PNG, GIF, MP3 or other file types.The maximum size is 30MB.
- Enter the price you want, or leave the default "put on sale.".Here is a special reminder that if you sell your NFT on rarible, the platform needs to deduct 2.5% of the service fee.
- Enter the name and description of your NFT.
- Set up your franchise.If it is resold in the secondary market, you will continue to be paid.
- Select connect wallet.
- To connect to the wallet you set up in the previous section, click "metamask".
- Pay gas fee.
- Click start to sign the sales order with your digital wallet.
- In the metamask pop-up window, click sign.
By now, your NFT has been successfully launched.In this case, you can find it on rarable or opensea by searching for the keyword you set.Once sold successfully, the remuneration after deducting the platform service fee will be directly transferred to your digital wallet.