One of the most popular sectors in the field of cryptocurrencies and blockchain is the category of non-fungible tokens or NFT. NFT is a combination of art and blockchain technology. The growing popularity of this sector has led to the formation of markets for the sale and purchase of NFT. One of the most prominent and of course the largest of these NFT markets is the OpenSea. Users can buy and sell non-fungible tokens in this market in a decentralized environment. OpenSea is a game-changing decentralized NFT marketplace.
OpenSea dubs itself the world’s first and largest NFT marketplace. But more simply put, you can think of OpenSea as eBay for digital objects and collectibles.
What is NFT?
Non-fungible tokens or NFTs are cryptographic assets on a blockchain with unique identification codes and metadata that distinguish them from each other. Unlike cryptocurrencies, they cannot be traded or exchanged at equivalency. This differs from fungible tokens like cryptocurrencies, which are identical to each other and, therefore, can be used as a medium for commercial transactions.
In fact, NFT is a smart contract that is set up using open source platforms (which anyone can download from sites like GitHub) and used to secure it digitally.
What is OpenSea?
Anything can be tokenized, from digital art and music to in-game assets and real-world assets like real estate. These digital assets have skyrocketed into popularity as a solution for artists who want to protect their intellectual property.
In order to browse, buy, sell or create your own NFT, you have to visit an NFT marketplace, and the biggest one around is OpenSea.
OpenSea is one of the major markets for the exchange of non-fungible tokens or NFTs and has become an integral part of the decentralized ecosystem. NFTs are tokens that prove ownership of a digital asset, whether it is a work of art or a video game.
OpenSea is one of the first markets to buy and sell NFT tokens. Ownership of digital assets can be proven with the help of NFTs. This asset can be a work of art, a crypto game item or even a virtual real estate. If you own an NFT token on a blockchain and can verify ownership with a private key, you have taken advantage of the technology’s unparalleled power to make a work of art unique.
The platform is designed with an intuitive and user-oriented interface so we will introduce you to every feature of OpenSea.
OpenSea Multichain Support Including Polygon, Klaytn & Ethereum
Ethereum is the most essential blockchain in the world for NFTs. Like decentralized finance projects, NFT artists, developers, and collectors have already handed Ethereum the crown.
As many already know, the Ethereum experience isn’t free of hassles, owing to its poor scalability. Transactions involving NFT sales and transfers are notoriously expensive due to high gas fees.
OpenSea now offers cross-blockchain support across Ethereum, Polygon and Klaytn. Klaytn is an open-source public blockchain project, built to be the fundamental trust layer for the metaverse, respecting and empowering the participation and contribution of its community and stakeholders. Users can use the Kaikas wallet browser extension to buy and sell Klaytn NFTs on OpenSea.
Other NFT marketplaces
- Binance NFT
- Nifty Gateway