How to sell an NFT
Once you have purchased NFTs from any NFT marketplace and they are in your wallet, you can list them for sale on any NFT marketplace. The largest NFT marketplaces at present are Opensea and Rarible. In this article we will explain how to sell your NFT on the Opensea marketplace.
On the Opensea marketplace you can list your NFT for sale at a fixed price or enter your NFT into an auction. You can also specify the type of cryptocurrency that you wish to be paid in and the blockchain you wish to sell it on. Opensea will calculate the commission fees for handling the sale.
Most NFT listing fees have a concept called gas. which is required to successfully conduct your transaction. In the case of the Ethereum blockchain, the fee goes directly to Ethereum miners who provide the computing power required to verify transactions and keep the network running. Each transaction requires a certain amount of gas depending on the number and type of computations involved and the storage required.
Selling an NFT on Opensea
From opensea.io, select your profile image in the top right and then click Profile.
Select the NFT you would like to sell from your wallet. If you don’t have an NFT available to sell, check our create an NFT tutorial to get started.
Select Sell on the top right to be taken to the listing page.
You’ll be taken to the listing page, where you can choose the price and type of sale.
A Fixed Price sale is one where the price stays fixed. In the screenshot below, the price is fixed at 1 ETH. Click here to learn more about Timed Auction sales.
You can also set a duration for the sale. The default options are 1 day, 3 days, or 1 week – but you can also set a custom duration using the calendar.
You can also include the item in a bundle (grouping NFTs from different collections)*.
Lastly, you can also reserve the item for a specific buyer. To do so, simply paste their address into the field below Reserve for a specific buyer.
In all those options, you’ll see the potential fees from the sale listed at the bottom. In this case, this sale includes OpenSea’s Service Fee of 2.5% and a Creator Earnings of 10%, for a total of 12.5%. This is the highest percentage that can be deducted from an NFT sale on OpenSea.
Completing your sale
You’ll then be asked to confirm your sale by signing a transaction.
Please note, if you’ve never sold on OpenSea before, you’ll need to initialize your wallet first. Also, if the item you are listing was not minted on OpenSea but through a custom contract, there may be an additional approval and signature required to allow OpenSea to trade the item on your behalf.
Once your listing is complete, you will get a pop-up confirmation like below. Make sure to share your listing on social media!
To see the items you have listed to sell, from your profile page select the Activity tab.
You will see the item you just listed labeled with the transaction List.