You are NOT using Opensea correctly
When used properly, you can print money with your trades
The first and biggest web3 marketplace for NFTs and cryptocollectibles is called OpenSea. Use OpenSea to browse, make, purchase, sell, and auction NFTs right now.
Here are 7 Tips for making profitable trades on Opensea:
1. Trait Sniping
The 'Activity' page is typically used to watch sales
But pro's use it to watch live listings as they happen
This is by far the best way to snipe great deals on rare traits
1. Click a project
2. Click 'Activity'
3. Uncheck sales
4. Check listings
2. New pieces of data
OS has recently added new pieces of data to their pages
It's important you get familiar:
• % Listed: < 5% is ideal.
• Unique Owners: > 60% is ideal.
• Offer/Floor spread: use offers on wide spreads
• Royalty: flipping is easier when these are low
3. Always use offers
With collection offers, it becomes even easier to get good deals
You should NEVER use 'Buy Now'
Especially in a low volume environment, you can save big with offers
Use collection offers to:
• Get the floor for cheap
• Snipe traits
• Save money
What is an NFT? and Why you should buy NFTs?
Read my Blog HERE.
4. Use Plugins
Using Opensea Chrome Plugins can add a lot of useful functionality
My favorite is Supersea
It allows me to:
1. See the floors in my wallet easily
2. Total wallet value
3. Pricing alerts
4. Watchlists
Many other plugins are free too. Will cover later!
5. Hidden Folder
Most people send NFT's to the hidden folder then never check again
Bad idea
Isolated pumps happen all the time, even on hidden NFT's
Every day prioritize quickly checking the floor on all your hidden NFT's
Otherwise, you might be leaving money on the table
6. View all offers received
Another critical daily routine
OS does a terrible job of alerting you to new offers
The 'offers received' screen will show you all your offers in one place
See an above floor offer? Take it
How to:
1. Profile screen
2. More
3. Offers Received
7. Use short expirations
Want to save money on gas?
Set short expiration periods when selling an NFT
Opensea charges you gas when you cancel a listing
But it's free if the listing expires
Choose the 1 day expiration, then create new listings if you still want to sell
Recap:
1. Watch the listings activity page
2. Understand the new Opensea data
3. Always use offers
4. Download plugins
5. Check your hidden folder
6. View all of your offers
7. Use short expirations
Any tips I missed? Comment below!
credit: NFT God
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