There are three essentials you’ll need in place to open your account and get started buying or selling NFT’s on OpenSea, let’s get started. 1.) Digital Currency (ETH) You can get ETH, the digital currency that fuels transactions on the Ethereum blockchain, from a digital currency exchange like BINANCE. You will need ETH to “mint” an NFT, purchase an NFT, and for gas fees to complete transactions. Ethereum Gas Fees are a bit of a tricky concept, but we simplify the basics here. Now that you have ETH, let’s get a wallet. 2.) Crypto Wallet A crypto wallet, such as Metamask, stores your ETH and processes transactions on the blockchain. A unique wallet address will be generated and you will use this address to complete transactions. All transactions connected to your wallet address can be found on etherscan.io and it’s a good idea to check after completing each transaction. Why do you need a wallet before buying and selling on OpenSea? OpenSea itself is another tool you use to interact with the blockchain. OpenSea never take possession of your assets or store your NFTs. Instead, They provide a system for peer to peer exchanges. Since you’ll be using OpenSea to interact directly with others on the blockchain, you’ll need a wallet to help you turn your actions in the browser into transactions on the blockchain. Now that you have a wallet installed, you can connect your wallet address to OpenSea.

A non-fungible token (NFT) is the digital representation of the asset. Every NFT, like every cryptocurrency coin, has a unique identifier that anyone can use to track its ownership history on a public blockchain.

We can describe an NFT as a cryptographic token that defines an asset uniquely. It can represent both a digital asset such as an image, but it can also track real-world assets, such as a house or car, or a song, for example.

As you can uniquely define assets, this means you can also prove ownership over said assets, and moreover, prove their authenticity.

Basically, any type of media can be minted or tokenized and turned into an NFT: art, trading cards, memes, gifs, video clips, audio clips, tweets, — anything.

Once tokenized, these assets can be bought, sold and traded using cryptocurrency.

An NFT (Non-Fungible Token) is a unique token on the blockchain that can be attached to any asset to verify its authenticity and ownership. An NFT is not the artwork itself — it is the license to the artwork that is attached to the digital artwork on the blockchain.