Step by step directions to investing in NFTs on OpenSea:
1. Visit the website, https://opensea.io/. It will redirect you to the 10 main categories of tokens available on OpenSea, sorted neatly for your convenience based upon their names.
2. Browse through the pages until you find an object that catches your interest! Once there, click on it to be directed to its page which contains more detailed information about that token (such as value and ownership) as well as a link called ‘buy now' like shown below:
3. Clicking this link takes you to a page containing options for how much you want of the item, at what price, and using what currency; as well as a place to confirm this transaction if you desire.
4. Congratulations! You successfully bought NFTs that are now stored in your OpenSea wallet! If you want, feel free to come back and repeat this process for other unique tokens that catch your eye, or go on the hunt for even more hidden gems among the sea of digital assets.
Now that you've bought some NFTs, what possibilities exist now?
Well now they're yours! More specifically, now they're registered within your wallet which is connected to their crypto address. If someone else owns an NFT that interests you then chances are good that there may be another way to obtain it! The most common way by selling an item or service in return for the NFT.
There are a few types of marketplaces that have been created specifically for selling and buying digital assets:
1. Decentralized exchanges (DEXs): These exchanges allow users to trade tokens directly with each other without the need for a third party. As a result, they offer more security and privacy than traditional exchanges. However, they can be difficult to use and often don't have the liquidity of centralized exchanges.
2. Centralized exchanges: These exchanges allow users to buy and sell tokens much like stocks on a traditional stock exchange. They provide an easy way to trade tokens, but are often less secure and private than DEXs.
3. Auction houses: These are websites where users can auction off their digital assets. The site sets the rules for the auction, including when it begins and any required deposits from bidders. It then tracks activity on the page until the auction ends, at which point it sends payment to the seller.
The following are not your average NFTs but I included them anyway because they're awesome!
– Cryptokitties: These kitties are like Pokemon cards! They're super fun and addicting and you can sell them and buy more (or breed them if you own both parents).
– Cryptocelebrities: Another super fun game where you buy memes of celebrities that only exist as avatars in this blockchain based game.
Who wouldn't want a celeb meme?
– Decentraland: This is an entire virtual world that you can explore! You can buy and sell land, build things, and more. It's like the Sims but better because it's decentralized!
As you can see, there are endless possibilities when it comes to investing in NFTs. Whether you're looking for digital assets with real world value or simply want to experiment with new and unique gaming experiences, NFTs provide a way to do so without breaking the bank. With proper due diligence, anyone can safely invest in these burgeoning digital assets and join in on the fun!
