This post will look at how SolSea works and what you can do in one of Solana’s most important NFT markets.
Solsea has become famous by putting things in its Marketplace that we can’t find in others, like solanart, which only lets you collect a small number of items. SolSea, on the other hand, allows its users to upload their files to make an NFT or a whole collection right away on its platform.
This has made it possible for many users to create their collections on the Solana network because it’s easy and safe. They don’t have to use more complicated programs or platforms.
What is a Solsea? NFT and the Benefits of the Secondary Market
To understand Solsea better, you need to know how NFT marketplaces work. In the digital world, NFT marketplaces are like art galleries. In the real world, they are like art shows. But instead, each marketplace is where people can sell or buy the digital content they like.
So, creators can get paid directly for their work, and collectors can own rare content that no one else has.
Think of it as an art gallery that also sells art all day, every day.
There are many ways that NFTs can be used that are shown on the marketplace. Some of these things are crypto domain name ownership, real estate, identification and paperwork, and even assets in the real world. You can buy or sell any digital asset you want at different prices on these kinds of marketplaces. Your favorite celebrity might even have the NFT collection you want.
But what makes Solsea different from other games?
OpenSea will let you pay with Ethereum (ETH), Klatyn (KLAY), Polygon (MATIC), and Solana (SOL), but Solsea will only allow you to pay with Solana and a few fiat currencies (USDC and USDT).
The cost of minting also varies based on which marketplace you use. For example, you may have already seen that an ETH-based market like OpenSea charges much to mint NFTs.
Solsea is known for being cheap, but the only non-SOL-based NFTs you can buy here are based on SOL.
OpenSea also takes a 2.5% profit when an NFT sells, on top of the fees it charges during the minting process. Solsea, on the other hand, charges a 2% fee after each successful purchase.
Attributes of SolSea Marketplace
There are numerous characteristics of SolSea Marketplace, which include:
- The SolSea marketplace permits clients or customers to fasten licences to NFT items through its portal to corroborate possession.
- It holds up both public and private listings, permitting vendors to post their NFT products to the general public or sell them to their closed ones at an offer price.
- Its affiliates support accustomed wallets.
- It acquires a variety of cryptocurrencies.
- It allows three-dimensional scanning of an NFT item, which helps in improving the user experience.
- The creators can quickly issue NFT tokens in the SolSea marketplace.
Benefits of SolSea Marketplace
SolSea Marketplace comprises various benefits. These benefits are listed below:
- In the SolSea marketplace, the transactions are quick.
- The fee per transaction is very slighter.
- The transaction operation is executed with a process that focuses on energy-saving.
- The timestamp for every transaction on SolSea is recorded through an automated procedure.
- It benefits from its host chain.
After creating your wallet by following the simple steps on the site, you can put your Solana tokens in it. First, ensure you have at least $0.2 worth of SOL in your account. If you do, your wallet will show as valid.
You must make a Solsea account with a valid email address and a private password to be an NFT curator or join the marketplace to buy and sell.
Please write down your login information and put it somewhere hackers can’t access it.
Tips for Solsea Minting
You now know what you need to know to make a Solsea account. Now is the time to make your collection of NFTs that will be kept on the Solana blockchain.
Solsea can be challenging for crypto newbies and first-time curators, but let the buzzwords or confusing features overwhelm you.
Here’s some advice and a list of potential issues you might encounter while collecting NFTs:
- Be ready to link your Phantom wallet to your Solsea account because they are locked together for security reasons. Keep your login info close by to save time.
- Because the description section has a strict word limit, you should use as few words as possible to describe your NFTs.
- If you want to add multiple NFTs to the same collection, you should know that there is no bulk option. To change the art, you must mint each NFT separately.
- It would help if you were patient while your NFT is being minted. The process takes less than a second, even if your computer and Wi-Fi connection could be faster.
- If your uploads fail, you might lose a little SOL. Don’t worry, though; each transaction costs about $0.075
- Free up some time on the platform that needs three transactions: 2 for minting (approve, wait, approve) and 1 for setting the price.
- Phantom’s approval system makes each transaction need to be clarified. You will know how much the transaction fee will be once the minting process is finished. Don’t let this stop you, though. Minting fees are always high.
- You can’t change the price while the coin is being made. Instead, go to your Phantom wallet after successfully minting your NFT, click the second tab that isn’t in focus by default but shows your NFTs, and then click the list button.
- When all three transactions are added up, they cost about $2 per NFT. Compared to Ethereum, which usually costs between $70 and $100 to the mint for the first time, these prices are fair.
Solsea has some rough spots that need to be smoothed out. But now that you know how to make your collection and deal with problems that might arise, the process should be easy.
Tips on buying and selling—Happy NFT hunting
So, let’s talk about using the secondary market best to get the most for your money.
Important information about the venue and featured collections can be found on the Solsea platform’s main page. Filtering projects to find the best collection for you is simple. You can find it all when looking for music, art, photography, gaming, virtual, or utility NFTs. Other filters include price, rank, likes, views, categories, licenses, and rarity ranks.
So, once you find an NFT you want, you can look at its history, including its sales history and price, before deciding whether or not it is a good investment or a good deal.
After reviewing all the information, click “Buy NFT” and confirm the transaction in your Phantom wallet. You now have an NFT, which you can see in your profile and your wallet’s “Collections” section. But it’s important to remember that Solsea isn’t wholly free of fake collections.
Joining project community channels on Discord, Twitter, and Telegram is a good idea if you want to keep an eye out for strange things. You can also talk to others in the community and those in charge of the project on these sites.
Finally, here you may find the various collections available in SolSea soon. A way to find new groups that will be interesting and will be added to the platform. You can also follow them on social networks like Twitter, Telegram, and Discord to discover when new interesting collections are added to their Marketplace.
I hope you’ve learned more about how SolSea works and what benefits this NFT Marketplace offers. Remember to make an account with Binance if you still need one.