If you’ve invested in a few NFTs that you expected would increase in value over time but for some reason they just haven’t got there yet, then now is as good a time as any to get selling any NFT’s you’ve collected over the years.
Or even if you earned a few free NFTs through Playtoearn.net, or if you’ve been busy making NFTs of your own, why not cash in and finally get a tangible reward that you can pay the bills with?
The one issue many NFT sellers come across when they are selling their NFT collection is that most platforms will not allow you to do this completely free of charge.
Instead, they will charge you what they call “gas fees”.
A gas fee is basically “the transaction fee paid to miners on a blockchain network in order to get a user’s transaction to be included in the block”.
And the worst thing about this gas fee is that it’s never set at a fixed value, and it can fluctuate quite considerably over time.
Which means that you never really know how much selling your NFT is really going to cost you.
What’s more, to make your NFT purchasable, you will need to uniquely publish your token on the blockchain. This process is referred to as “minting”.
And while some NFT marketplace platforms will allow you to mint NFTs for free, they may still charge a listing fee.
However, I have good news to report. The Opensea platform will allow you to sell your NFTs there without the transaction being subjected to any gas fees.
What’s more, OpenSea doesn’t charge fees for minting NFTs (see also ‘How To Create An NFT Minting Website‘) after the first sale.
And, better yet, this article is going to explain how you go about selling your NFTs on Opensea for free, minus the gas fees, and without unnecessary minting charges.
But before we press on with that, it’s important to note at this point that unfortunately, there are a couple of fees you’ll have to pay when you first list an item for the first time, but these are fees are low, affordable, and definitely worth it.
There is also a service fee you’ll have to pay, but this is very low at just 2.5% of each transaction.
Anyway, here goes!
How To Sell NFT On Opensea For Free
The Basics
Before I get into all the “how to” specifics, I just want to kick things off with some important basics – if you want to pay zero gas fees (as described earlier) then you MUST select the correct blockchain, which is Polygon.
Opening An Opensea Account And Creating Your NFT Collection
You can open an account with Opensea for free, and the process is quite simple. You can head over to their support page for more details on how to do it by clicking on this link.
Once you have an account set up, you can go ahead and create your first NFT collection on Polygon. To do so, hit the profile icon in the top right corner, click on “My Collections”, then “Create”.
This is where you can set the image and the tone for your first NFT collection, with such images as a logo, a banner, and a featured image.
You also give a name for the collection, a description specified to your chosen wording, and create a customized URL for the collection, not to mention all of your social media links.
Set A Royalty Percentage Fee If Applicable
If you are creating NFTs yourself, this would be where you set a Royalty percentage fee.
(Sorry, but it’s beyond the scope of this article to go into royalty fees and how high you should set them, seeing as many people reading this may not necessarily be creating their NFTs themselves anyway.)
Selecting Your Default Blockchain – Polygon
When you’ve finally got your collection looking and reading exactly how you want it to, this is the time to set up which blockchain to create your NFTs on by default.
I did mention this earlier, but it bears repeating here (and I’ll put it in bold so it stands out) if you want to pay zero gas fees then you MUST select the correct blockchain, which is Polygon.
Polygon Tokens
Most people, myself included, recommend that you go with Polygon ETH, which means you can use an Ethereum wallet, which is Polygon’s default option.
But if you wanted to, your other options are Polygon USDC and Polygon DAI.
Creating And Minting NFTs
Now you’re in a position to upload anything that you want made into an NFT! Just hit the blue Add item button in the top-right corner.
The screen will tell you what NFT formats are allowed, including ones for images, videos, audio, and 3D models.
You can then choose how many copies of the NFT you want to mint. Click create when you are ready, and you’ve successfully set up your NFTs minus any gas fees!
Selling An NFT On Polygon
And once your NFT is created and minted, you are now ready to get selling! And it’s as easy as clicking the “Sell” button, and doing a little form filling.
You can then set up your selling price and currency, and once you’re happy with everything, you can click on “Complete listing” to finalize.
You will then be prompted to provide a typed signature in order to authorize any transactions against your account.
Shortly afterward, you will receive a popup to inform you that your NFT is now listed for sale on Opensea. And you can start making some money!
Wrap Up
So, as my introduction laid out, there are usually fees associated with selling NFTs online.
But, if you follow these steps to the letter, you will find that you can start minting and selling NFTs on the Opensea platform, and all with zero gas fees.
The key thing you need to do to achieve this is to select the correct blockchain, which is Polygon. Get that right and you’re good to go!
That is why I made my site - Stock Maven. Now that I feel settled and confident about trading, I want to be a source of help to anyone else who might be struggling to break into the crypto market successfully.
My website is full of my tips and tricks, as well as information that I have always found interesting about crypto. My friends and family are sick of hearing me talk about it, so now it’s your turn!
I hope that you stick around and find something useful on my site. Remember, to make it big in crypto, you’ve got to be confident! Go for it and don’t look back.
- Essential Reasons to Implement Pound Cost Averaging in Your Investment Strategy - November 20, 2024
- Breaking the Cycle: Understanding Why We Repeat Poor Financial Decision-Making - November 18, 2024
- Unlocking the Potential: Is Silver Investment Worth It? - November 16, 2024