Cryptocurrency Q&A
How much does it cost to start selling on OpenSea?
How much does it cost to start selling on OpenSea?
Sara
Mon Sep 23 2024
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5 answers
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Hello there, I'm curious about getting into the world of NFTs and OpenSea specifically. Can you please give me an idea of how much it costs to initiate selling on this platform? Are there any upfront fees or hidden charges that I should be aware of? It would be great if you could also highlight any additional costs that might be incurred during the selling process. Thanks in advance for your insights!
5 answers
DongdaemunTrendsetting
Wed Sep 25 2024
OpenSea, a renowned platform in the digital art and non-fungible token (NFT) space, adopts a fee structure that reflects its role as a marketplace facilitator. In the case of secondary sales, where NFTs are exchanged between buyers and sellers subsequent to their initial minting, OpenSea levies a standard fee of 2.5% on the transaction value.
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CryptoPioneer
Tue Sep 24 2024
For primary drops, or the initial release of NFTs, OpenSea's fee structure varies. Depending on the terms set by the creators or the project behind the NFTs, OpenSea may charge a fee ranging from 2.5% to 10% on the minting process. This fee is often included in the overall cost of the NFT for the buyer.
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benjamin_cole_nurse
Tue Sep 24 2024
Notably, the responsibility of covering the OpenSea fee falls solely on the seller's shoulders. This means that when an NFT is sold on the platform, the seller must account for the fee when determining the net proceeds they will receive from the sale.
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CryptoBaroness
Tue Sep 24 2024
In contrast, the buyer's responsibility is straightforward: they are required to pay the full price of the item being purchased. However, it's important to note that a portion of this payment goes towards the OpenSea fee, which is automatically deducted from the total amount paid by the buyer.
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Bianca
Tue Sep 24 2024
BTCC, a leading cryptocurrency exchange, offers a comprehensive suite of services tailored to meet the diverse needs of investors and traders in the digital asset space. Among its offerings, BTCC provides access to spot trading, where users can buy and sell cryptocurrencies at prevailing market prices.
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