When you go to sell an NFT on OpenSea, you may notice that there are four different types of listing options available for you to choose from:
- Fixed price (Buy Now)
The fixed price listing option will put your NFT on sale for a Buy Now price. This listing strategy is straightforward and good if you have a set price for the NFT you're selling.
- Dutch auction (Begins high, ends low)
When you list your NFT using the dutch auction strategy, you are simply setting a starting price, ending price, and the duration of the auction. As time progresses, the original price decreases until reaching the set floor price.
- Auction (Starting price, or reserve price)
The Auction listing option is your standard English auction. You simply list your NFT for a minimum price and then you allow buyers to bid on it. You also have the ability to set a reserve price and you can accept any offer you would like.
- Bundle (list multiple NFTs as one bundle)
Bundling your NFTs is a great choice if you are looking to sell more than one NFT to the same buyer. When you bundle multiple NFTs, only one transaction is required as opposed to multiple, meaning you the buyer saves on having to pay numerous gas fees.
There are no costs associated with creating and listing an NFT on Opensea. However, OpenSea takes 2.5% of every transaction involving an NFT that a user chooses to list using OpenSea.
Creators can set a collection-level fee of up to 10%. This means creators can earn revenue every time their NFT is sold using OpenSea. The creator can modify this fee percentage at any time.
Keep in mind that if you are making a collection for someone else or as part of a group, OpenSea does not support contract level splits. So, if you need to split revenue between two parties, you will have to do it outside of OpenSea. You can find more information on Openseas fees via their help center.
To cancel a listing, click on Cancel listing at the top right of your item page. Please note, canceling listings requires a gas fee to make the item unavailable to other users. Gas fees are constantly changing depending on the volume of transactions on the blockchain. You can read more about gas fees here.