5. OPENING AND UTILISING YOUR OWN ACCOUNT AT OPENSEA (OPTION 2)
5. OPENING AND UTILISING YOUR OWN ACCOUNT AT OPENSEA (OPTION 2)
By following these steps, you can open your own account on OpenSea and immerse yourself in the world of NFTs - start minting, selling, buying, and exploring NFTs. Remember to always access the authentic OpenSea site (https://opensea.io/) and take necessary precautions to protect your funds and digital assets.
1. Purchase ETH* (Ethereum's blockchain digital currency): Before you can engage in transactions on OpenSea, you'll need to acquire ETH for approx. 100 USD, which is required for transactions and gas fees. You can purchase ETH from platforms like Coinbase, Binance or other cryptocurrency exchanges, but in accordance with your resident country legislations related to the digital assets trade.
2. Install a crypto wallet: Choose a crypto wallet compatible with the Ethereum blockchain, such as MetaMask (https://metamask.io/ ). A wallet allows you to store your ETH securely and facilitates transactions on the blockchain. Install the wallet of your choice and set it up by following the provided instructions.
3. Connect your wallet to OpenSea: Visit the OpenSea website and click on the profile icon. Follow the prompts to connect your wallet to your OpenSea account. This step establishes the link between your wallet and OpenSea, enabling you to view and manage your NFTs.
4. Verify your wallet connection: Ensure that your wallet is correctly connected to OpenSea. This verification step allows you to view your NFTs within the OpenSea platform and facilitates seamless transactions.
5. Explore and engage: Utilize OpenSea's browse page and search features to discover a wide range of NFTs, including unique projects and artworks. You can participate in buying, selling, and creating NFTs within the OpenSea marketplace. Engage with the community, join discussions, and showcase your collections on the platform.
* By purchasing other digital currencies supported by OpenSea you will only be utilizing the blockchains of those currencies, while the process of account creation and usage remains the same. OpenSea supports various cryptocurrencies for minting and transactions, including Ethereum (ETH/WETH), SOL, MATIC, AVAX, USDC, BNB, and DAI.
5.2. Customising account profile
1. Access your newly created OpenSea account and explore the profile customization options available.
2. Personalize your account profile by uploading a profile picture, adding a bio, and providing relevant information about yourself or your organization, email address, and profile photo. This will help establish your cultural operator identity and create a cohesive branding presence.
5.3. Sticking to OpenSea's guidelines for listing and selling NFTs
Familiarize yourself with OpenSea's guidelines and policies regarding the listing and selling of NFTs on their platform. These guidelines are designed to ensure a fair and transparent marketplace for all participants.
Follow the provided instructions on how to create listings for your NFTs, including uploading the digital artwork, adding accurate metadata, and setting appropriate pricing. Don’t forget to stay updated with any changes or updates to OpenSea's guidelines by regularly checking their official documentation and communication channels.
When selling NFTs on OpenSea, cultural operators or artists, as sellers, receive revenue from the sale in the form of cryptocurrency, which is deposited directly into their digital wallet. The final sale price of the NFT, after deducting the applicable fees (such as the 2.5% fee at OpenSea) and percentages (such as royalties), is transferred to the seller's digital wallet in their preferred cryptocurrency, such as Ethereum or others that have been chosen when setting up their digital wallet. Sellers can then manage their cryptocurrency earnings within their wallet, choosing whether to hold, trade, or convert them to other currencies such as USD, EUR, or other cryptocurrencies, as desired.
Utilising bundles and collections to curate and present artworks effectively
Bundles and collections are powerful tools for curating and presenting artworks in a cohesive and compelling way. Consider the following strategies:
• Theme-based Bundles: Create bundles that feature artworks with a common theme, style, or concept. This helps buyers discover related artworks and encourages multiple purchases.
• Artist-focused Collections: Curate collections that showcase a specific artist's works. This allows buyers to explore and engage with a broader range of artworks from their favorite artists.
• Limited Edition Collections: Develop collections that feature limited edition artworks or series. Highlight the exclusivity and scarcity of these artworks to generate interest and urgency among buyers.
• Collaborative Collections: Collaborate with artists or other cultural operators to create joint collections. This expands the reach and visibility of all participants and provides a unique experience for buyers.
