For many individuals, their first purchase of an NFT can be a nerve-racking experience. Here we will make it a bit easier for you and explain the step-by-step process of purchasing your first NFT on the following platform: OpenSea.
OpenSea
How To Purchase?
OpenSea allows you to purchase NFTs in a few easy steps. The platform holds an array of NFT collections that can fit everyone’s artistic needs and wants.
From purchasing virtual land to being a holder of a chosen collection, OpenSea supports it all. So let us walk you through the steps of making your first NFT purchase.
1. Wallet:
A wallet is something you must have in order to purchase an NFT and utilize the OpenSea platform. OpenSea offers a plethora of wallet options. For more information on which wallets they accept, please click the link we have provided here.
One thing you need to know regarding your wallet is to write down your seed phrase, or as some call it, a key phrase, and always keep it in a safe place.
This is something you never give to anyone. If you happen to lose your keywords, all of your assets can be lost. Once you have set up your wallet, you must add crypto to the wallet. Once you have done this, you are ready to go.
2. Open OpenSea
Head over to opensea.io or type it into the browser. Keep in mind the ending is [.io] NOT [.com].
3. Connect Your Wallet
As shown in the top right-hand corner in red, you will be asked which wallet you would like to connect to the platform. For the purpose of this example, Metamask will be used, as it is one of the most frequently used wallets for NFT purchases on OpenSea.
Select Metamask, or any of the available wallets that can function on the OpenSea platform.
Now you will be asked to approve the connection by allowing your wallet to connect to the platform. Here you click [Next] and on the following pop-up you do the same.
4. Explore Various Collections
Once connected, you are free to explore the collections you are interested in. The explore tab allows you to select what genre of NFTs you are looking for and even sort the collections by verified ones, as well as via popular collections.
5. Pick An NFT
Now that I have explored some collections and selected the one I am interested in, it’s time to pick which NFT I would like to purchase.
For this example, I have selected Doodles. The collection currently has a floor price of 19.5 Ethereum. After looking through the collection, I have found the Doodle I want to Purchase.
When I select the image, this is the next screen that shows up.
On this page, you will see all of the important information regarding the NFT. From the price to past transactions and holders, this is imperative information that you should be looking into.
Along with that, you will see all the characteristics of the NFT and how rare each one is. You must pay attention to all of the attributes of the NFT.
The rarer it is the more value the digital art piece possesses. As you can see, the properties that the NFT holds are very low in percentage, meaning that many of the digital images do not share features with the one I have selected.
This is an excellent thing, the rarer the better.
Buying It
As you see here, we have to buy now or make an offer. This allows individuals to have a choice in what they would like to do. Keep in mind that some NFTs will just have: buy, make an offer, or both.
So we select buy now and our MetaMask will pop up. You would select [Next] and do the same with the following pop-up window. Keep in mind that Ethereum’s gas fees (transaction fees) are still high.
And with that, you will be asked to approve the price of the gas fee. Once that is done, you can call yourself a proud NFT owner. So there you have it, folks.
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