How to not lose money on NFTs (all OpenSea fees explained)

[@JohnGreen-we4sc]

Wow the simplicity in your explanation is baffling. I’ve watched so many videos to understand and I just go lost and stopped paying attention. It actually made my head hurt but I salute you and will be subscribing to your channel. Thank you so much. Much much appreciated

[@isabellejourdan]

I am writing this in May 2023. OpenSea changes a lot and all the time. Opensea charges 2.5% for every sale you make. Nothing is ever for free.

[@tzeffsmainchannel]

Dammit! Someone offered 7ETH fpor 5 items! I already thought that was pricey! ....🤨☹

[@adishankardas]

That's was the best explanation for selling NFTs in Opensea!

[@NFTsSimplified]

I'm so glad this was helpful for you!

[@AmoreAndButterflies]

Thank you ever so much. I use polygon as an artist on Opensea. To freeze my NFTs, I needed pennies in my wallet, which I didn’t have. I think you have helped so many artists!

[@RayCollinsExodica]

Absolutely great video for beginners interested in listing their first nft. I just listed mine and I'm glad i watched this 👍🏾

[@NFTsSimplified]

Thanks so much! I really appreciate it :)

[@13hubi13]

And did already sell it?

[@MaroSSo1993]

I want to ask, is the "initialize wallet" the only fee you pay when selling for fixed price? What about the other steps, like "approve this item for sale" or "complete listing"? Don't you have to pay for each nft or each collection you put up for sale for the first time?

[@RayCollinsExodica]

@Maros R the initalize fee is the one time fee when you list your first NFT on the exchange. what I have learned is that you will pay that one time fee for each exchange you list. so far, open sea and meta mask have charged the one time fee for listing

[@MrPFerd]

@@RayCollinsExodica so the companies that list 10 000 nfts are paying 10 00 gas fees? that doesnt seem right

[@advslOne]

note to self, mint fee + gas + one time activation + listing make sure to list under 12hours so you can relist, relisting dont cost high gas, cancel fee is higher fee that relist

[@maredsolien7444]

What happens if my listing is not sold on Opensea before the expiration date? Will I lose my NFTs or will I have to fees to simply reclaim them? Thanks!

[@bliss6890]

Your videos are the only ones I seem to be able to digest and understand (and retain). Any plans to back it up and break down getting into crypto to begin with???

[@NFTsSimplified]

Thank you so much! I am planning on more generic crypto/Web3/blockchain content eventually, but I'll probably stick with NFTs for a while!

[@aminezaghloul803]

can you do a video talking about how to create a professional account (bio-title-subtitle-twitter.......), for mor trust by the buyer.

[@DavidNFT]

I'm learning about NFT's and just did my first video a opensea walkthough. Appreciate this content well done!

[@MeetKevon]

Awesome video Aprilynne! I was amazed at how much gas fee I needed to pay to transfer ETH to a wallet! Got to be super careful.

[@NFTsSimplified]

Thanks so much for watching Kevon! ❤ And absolutely, gas fees can REALLY screw you over if you're not careful

[@joesilva6602]

Great! insight on NFT's. This is a good way to bring value to your business

[@NFTsSimplified]

I'm so glad!

[@vrajjoshi7]

A very good explanation to a very important topic!!! appreciate it.. keep up the good work

[@NFTsSimplified]

Thank you so much Vraj!

[@YoungTrash-ro1ip]

These videos are MAD informative and im here for it. Anyone know if you have to pay fees if you wanna add NFTs to a collection already on opensea? Like if i have 10 items and i wanna add 5 more a month later do i have to pay for more gas because these GAS PRICES KEEP GOING UP?!

[@NFTsSimplified]

You don't!

[@Craftedbywaltz]

Bravo amazing work, so well explained. Learnt so much.

[@stevebrodnik2775]

Thanks for all the tipps! I fortunately made millions in NFTs now!

[@pureo.c8365]

I looked everywhere for all of these quastion thank you so much! helped a lot :)

[@majkaifcicova7031]

Hi, your channel is amazing. I watched almost everything and I really learned a lot. But since my English is not 100% I want to ask. When someone wants to create a collection of for example 5 000 images, does that mean they pay a gass fee for each image? So 5000 x for example 120 $ gass fee ? By the way, you're the first person I've ever understood. You are amazing in explanation and I wish you good luck. Thank you in advance for your answer

[@NFTsSimplified]

If you sell your NFTs on Ethereum: - You WILL have to pay a gas fee every time if you put your NFTs up for auction (to accept an auction bid - You will NOT have to pay a gas fee every time if you put your NFTs up for a fixed price If you sell your NFTs on Polygon: - You will NOT have to pay a gas fee every time Hope that helps!

[@majkaifcicova7031]

@@NFTsSimplified Thank you so much for answer ❤️

[@LAZZZZZZZZZZZZZZY]

@@NFTsSimplified If I sell on ETH auction, do I pay gas fee (for example 120 USD) for the listing of the entire collection (for example 10,000 items bundle) or for each item in the collection separately? Thank you for great videos

[@MaroSSo1993]

@@majkaifcicova7031 Majka, skusala si to, islo to? Iba jeden poplatok? Thank you

[@vanessach11]

Very nice video! Hanks so much! Subscribed after the first 5 mins! You do know what you’re talking about.

[@MaroSSo1993]

Great vid! What is the "approve this item for sale" used for if not for paying gas?

[@alexamaro4598]

If your selling your nfts on polygon what public address do you need to provide just your regular etherum or do you need to provide weth address and what blockchain would it need to be for poly or ether for weth address not sure if this makes sense

[@scarletred1516]

Hello! Genuinely appreciate your videos💜 I had a few queries: 1. You mentioned (etherum) gas fees when you initialized your account was 60 gwei which is $0.0002? Also when I looked at transactions of other sellers in the past 4mnths I have never came across any high gas fees..they were like 30 to 60 gwei. Am I missing out something? 2. If my nft (polygon) doesn't sell do I have to pay any fees to unlist it or sth? I believe since it's on a fixed price and there's no duration it will never expire and relisting (if required) won't have any fees? 3. To bridge poly to etherum, the gas fee that needs to be paid, can I pay it with the polygon etherum I have or does it have to be in cash? (If anyone else has any answers/knowledge regarding my questions, please feel free to enlighten me😊)

[@saraburnard8045]

The challenge with polygon now is Instagram can’t pull through polygon nfts because they are technically off-chain. Any work-around for that?

[@shrutimadadi9533]

Amazing! Your video just clarified so many questions I had about gas fees. So glas I've watched it before I got into creating & selling NFTs. Very well put together and a definite recommendation for beginners. Thanks a ton :)

[@user196-cvt45]

wow you are very good Aprilynne! Thank you

[@Juyoung1215]

This is way more informative than people with millions of views.... Please keep up the good work!

[@NFTsSimplified]

Thank you so much for the kind words! I really appreciate it :)

[@gautamjn]

Thanks for the video. However I have the following questions: 1. What happens after you have sold an NFT? Example, I listed a photo clicked on phone as a NFT, someone buy it, but then what needs to be done of the photo that is still in phone as a copy. 2. Is there WETH on polygon network as well ? 3. Do I have to pay gas fee when placing a bid to buy a NFT? 4. When a buyer buys my NFT via Poly eth or eth eth, then, do I have send the NFT to the buyer on his wallet or OpenSea takes care of it ? 5. If I list NFT on polygon or main net network, then in order to freeze the metadata, do I have to pay gas fee? 6. What does freezing metadata means?

[@maredsolien7444]

What happens if my listing is not sold on Opensea before the expiration date? Will I lose my NFTs or will I have to pay fees to simply reclaim them? Thanks!

[@chasingchrome]

Your background is the best on YT🔥🔥🔥

[@NFTsSimplified]

Aww thanks so much!

[@ashleyhill9857]

You are incredibly talented in annunciation and allowing your audience to really engage while watching. Best explanation Video I've seen!

[@NFTsSimplified]

Thank you so much Ashley! I really appreciate the kind words

[@fun-and-feast]

Please also tell about amount transaction in mintable

[@yogameditate3671]

Finally a proper video,you explained it very well

[@dillonbrooks7807]

Great video learned a lot! Only one i've seen on youtube breaking it down like this. Great video, great editing, great music, you are going to explode

[@NFTsSimplified]

Thank you so much Dillon! I really appreciate it :)

[@debutgoldenlife]

How many times gas fee has to be paid in opensea account

[@kaahirkeshavji9488]

what is makerRelayerFee when signing contract on opensea during the 3rd confirming the listing?

[@LionheartBeatz]

I just connected my wallet to opensea, created a collection & and item, but didnt listed it. Also i got 0 $ in my wallet. Does Opensea still charge me for connecting now?????

[@elira9327]

What is smart contract? Does this effect our project?

[@niveditamishra1388]

I loved how amazing your explanation skills are.

[@DragonDsGaming]

Do you know anything about having to have a wallet funded with the same amount of a nft im selling for the first sell in OpenSea I have a sell but they telling me I don't have enough for AML verification

[@earthlyng_official4599]

What happens if you list an NFT and it doesnt sell in the projected sale time, for example 1 month?

[@anupamatiwari8871]

Can you please.....give some information for zoraart nft pletform......??

[@Exotic-c43]

What if I only had 0.8 Ethereum in my account and I put 0.8 On multiple bids if one of the sellers accept my bid and I have 0 ETH what would happen to the other bids I put down

[@mrtimidlysmith1054]

Great video.👍 I truly learned 💯 😌 alot

[@angelb.6319]

Thank You, Thank You, Thank You for this information!!! God Bless You!!!🙏🏽🙏🏽

[@NFTsSimplified]

I'm so glad it was useful!

[@maredsolien7444]

What happens if my listing is not sold on Opensea before the expiration date? Will I lose my NFTs or will I have to pay fees to simply reclaim them? Thanks!

[@danielfriasfotografia]

Hey guys... I have a question for the #NFTCommunity and #openseaartists... My friend and I were talking about #NFTs and we had doubts about royalty rates/fees... how much royalty fees do you usually charge for your art? 🤔 Please, help us out! Thanks.

[@abhishekbhardwaj2101]

If my nft is not sold do I have to pay some monthly fee please clarify?I used polygon

[@itzsaket2508]

Hi I have placed a bid. Now I don't want to cancel it coz I have to pay a gas fee and plus someone else has also placed a bid higher than me. So do I wait now. There will not be any charge right post the auction process is over.

[@chrislathus9156]

Did you figure it out I’m having same problem

[@NFTsSimplified]

Don't cancel it - just leave it. It won't go through if it's not accepted by the buyer

[@itzsaket2508]

@@NFTsSimplified thank you so much :)

[@ToutEstPossible]

Is there a problem when you make a lot of offers to people in weth ? If I make more offers than Weth available ? Can it become a problem ?

[@relatableguy2517]

I have an issue on opensea when I'm wanting to sell it doesn't give me the type price option and also not the option of whether I want it to be offers or buy now etc. do how can I solve this problem cause I can only type in the price and the date thats all but I don't have the other options so help

[@nirbinyamini159]

Hi, First of all Thanks you very much for the videos, they are great ! I wanted to ask a question i havn't fully understood ... If I do want to upload and sell a collection of 2000 different NFT's - in the ETH chain (no auction - fixed price) will i need to pay for each NFT the gas fee - means it can get to a total fee of 2,000 X ~70$ = 140K $ just to put them on sell ?

[@NFTsSimplified]

Nope, you'd just need to pay the one-time initialization fee!

[@shrutimadadi9533]

@@NFTsSimplified Hey, if we change the above mentioned scenario to selling a collection of 2000 different NFTs ( for example, a collection like BAYC or cryptopunks) on ETH blockchain for an auction, then do we pay gas each time i accept an auction offer ?

[@soso909]

Sorry to insist April but I ve the bad feeling that i'm being stolen my money. So if you could tell me about the wallet fees just above, that would be nice. Thanx so much.

[@ShineBrightStudioPhotography]

Open sea removed the one time fee I was able put up my nft for sale on both networks

[@GreekWiseThinking]

Regarding for listing an NFT on Polygon on OPENSEA: Why I can no t find my NFT??? I searched amongst all filter choices....

[@وائلالحبشي-ظ9ش]

how can i do pay the frist time gas fees when i setup my account for the first time please i need the steps

[@moparmatt5683]

The best opensea youtuber literally in the world 🌎

[@NFTsSimplified]

Thank you so much! I really appreciate it :)

[@SUISHIDL]

So If I am selling something for fixed price then I just have to-pay the one time gas fee and nothing beyond that right?

[@aliensfromspace7941]

did she mentioned about 'freeze metadata' gas fee ????

[@marvXn.17]

I wanted to sell my NFT the buyer sent me a QR code which direct me to a page to link my wallet to the transaction but I was told I must have at least 1ETH to receive the money.... Please who can help with that

[@elvegano7542]

hi! can u approve an nft collection for sale and pay just one fee? or need to pay for every item?

[@soso909]

Hi Aprilynne, thanks for your video. I sold 2 NFT on Opensea and the agent whom I collaborating with claims $1,100 as wallet fees so that I can gain my profits. Do I really need to pay such an amount. Thanx for your quick answer. I'm really lost.

[@ld5750]

After you upload jpegs to open sea, is the jpeg automatically considered an NFT? In other words, is it certified? Before any transactions take place, how is the artwork certified? It only becomes a part of the blockchain once minted with the first transaction? Or does open sea mint it when you upload it. Sorry I barely know what I’m talking about here but I’d appreciate any insight!

[@YasserFayad]

A very wonderful explanation and a distinctive style 😍😍😍, but I have a question when selling the first item on opensea. Does the value of the gas fee differ according to the price of the sold item? For example, two people sell their items for the first time at the same moment. The price of the item for the first person is 0.5 eth, and the price of the item for the second person is 5 eth. Will the second person pay a higher price than the first person, cause he's item more expensive , or will they pay the same value for gas fees?

[@entertainmentforeveryone243]

Hey April, can you tell me why am I not getting the “unlock currency” option while listing NFTs??? I am stuck here please help me

[@Artalatic]

I use lazy minting on Opensea to sell my artworks that require no gas fee upfront. But What i want to know is if someone buy my artworks. Does the gas fee get deducted from the sales Or do i actually need funds in my wallet? I keep on getting clients telling me that i need funds in my wallet in order for the sales transaction to go through. But because theres a lot of scams going on . I'm not sure who is legitimate . Can someone please advise?

[@chachonetwork]

Thank you, it's a whole lot of info to take in. 😫

[@locationsforyou6572]

Guys Coinbase wallet ETH address is coin base wallet address to mint NFT right

[@ronniesao6951]

Thank you for this. Very informative

[@livemorelovely4258]

Why does it ask me to pay gas fee when I’m trying to sell this nft that I just bought and paid gas fees as well??

[@NFTsSimplified]

The first time you sell an NFT on OpenSea, you need to pay an initialization fee to get set up

[@joereilley1309]

liked and subscribed THANK YOU!

[@abhishekkumarjha2120]

Will I be charged any fee if my listed NFT expires on Open Sea? I know that I need to pay the gas fee to remove the listed item, but what if it expires? Also, what I don't understand is why I wasn't charged any gas fee to list the nft? I used Etherium and not polygon. But still, Open Sea let me list it for free. So, now I'm worried if i will be charged if it expires.

[@freddychacinstudio]

Amazing video, very informative. Thank you!

[@NFTsSimplified]

Thanks so much Freddy!

[@rayfieldscott2939]

Excellent video. Thank you for the NFT and ETH education. Keep up the great work.

[@NFTsSimplified]

Thank you so much! I really appreciate it

[@Monebiba_12]

Can the gas fee be paid in stages? Please reply

[@lindaelizabeth1441]

How do I pay gas when someone wants to buy my art?

[@aquafina21]

Why does it say minted on my NFT? Will I be able to sell it with it being minted or no?

[@xoaostudios]

Great video subscribed!

[@guidoooo]

Amazing vid, thank you so much! ♥

[@Kier1313]

Hi, what about freezing metadata- there is a gas fee with that, i'm stuck for me to freeze my whole collection it would cost alot, and i want to stay on ethereum blockchain also, how do people have 10k collections with the gas fees of freezing metadata?

[@EviEhvee]

BSV has basically no fees from my experience. Only when exchanging to something like USDC or ETH when transferring to a wallet for withdrawal. But it’s low in comparison, like single or double digit dollars. I wish other coins had that sort of tech. Interesting video! Thanks.

[@NFTsSimplified]

Thanks for watching! I'll have to do a video on BSV at some point

[@shainrutten8469]

Hello, I am brand new to this and have learned much thus far. However, I really need some help. I have created a collection and have 3 art NFTs for sale. If someone wants to purchase one for the listed price of $9500.00, how much should I have in my wallet to pay the initial gas fee and Opensea percentage? This would be my first sale and have not paid any fees yet. I want to make sure the transaction goes through. If I don't have enough in my wallet, will the customer's transaction get cancelled? Will they lose their paid gas fee money? Thank you so much for your help, Shain

[@Skennedy-n7m]

Can i put anything for free ? Then just pay gas fee when its bought by smn ? What about canceled transactions , zrent they refundablen

[@ducdailocnguyen8342]

Great video. I'm researching a project named DeFi Warrior and I feel that's a potential game to invest in. Hope you can talk more about the P2E games in the future.

[@scotty4420]

So is the initial fee taken out of my wallet at the beginning prior to selling NFT or is the fee itself taken out of the NFT when it's sold?

[@MaskedMuslim1]

What If We Use Polygon Network ? On Openseas

[@annakaczmarczyk1318]

Hi! What happens when a sale ends on OpenSea and I didn't sell (fixed price)? Do I have to pay any fees?

[@mainesmind]

What if the auction ends without the item selling. Would I still need to pay a gas fee if the item didn't sell?

[@annakaczmarczyk1318]

Hi! Have you figured out?

[@Jacob-ex2vn]

​ @Anna Kaczmarczyk have you figured it out? I've had this same question for a while.. 🤞🤞

[@DavidParraHenry]

I'm starting to understand how all of this works now, at least on OpenSea, thanks. Also... in this video you have mastered the art of looking adorable.

[@NFTsSimplified]

I'm so glad these videos are helpful to you, David!

[@SilentNSly]

Minting or exchanging ownership of a NFT cost different amount of gas, is there any estimates of how much gas is needed for each type?

[@JackMyRealName]

I thought there was a difference between the amount of gas you pay for 1. Approval 2. Transaction and 3. Smart Contract execution

[@jixiki]

At the moment of selling I only have the ethereum option. Is there a way to unlock or add the polygon? Nice vid btw

[@NFTsSimplified]

You should have both options! There's nothing special to unlock Polygon on OpenSea

[@jixiki]

@@NFTsSimplified yessss I found it! Thanks!

[@oscarsjostrom3055]

Loved this video! Very helpful. Thank you Aprilynne.

[@NFTsSimplified]

I'm so glad it could help Oscar!

[@igivethankstomyancestors9683]

I think you should do a video about cashing out after selling your NFTs asap to avoid money loss if the crypto market goes through the losses that it has been in the last few weeks.

[@Tk2yz]

already subbed but can you make a video how to sell it ?

[@domainstride]

explained so well, thank you!

[@NFTsSimplified]

Thanks so much for watching!

[@jochemtwisk4974]

Great video! But do you also have to pay gas fees when you sell an nft from a collection not from yourself?

[@NFTsSimplified]

If it's on Ethereum, yes

[@fisherjpeldn458]

@@NFTsSimplified If you list your NFT and it doesn't sell do you still pay gas? Or only if the NFT sells?

[@MrChrisArtStudio]

Hey do you have any thoughts about how to build a community behind your NFT project? I'm not super big on social media. I have like 1,000 Instagram followers. If you don't already have a community behind you, how can you successfully launch an NFT project? Are there ways to organically get found? You don't need to answer these questions right away.. But maybe an idea for a future KZbin video. Love all the NFT content you've been putting out! I recently put my first NFT on the polygon blockchain on OpenSea!

[@NFTsSimplified]

You can definitely start building an NFT community from scratch! I'll do some more digging into how to do so :) thanks for the video suggestion! And congrats on your first NFT!!

[@MrChrisArtStudio]

@@NFTsSimplified Great thanks so much Aprilynne! You are awesome!

[@wegder]

You can buy copies on other sites for much less money.

[@abhinaven]

What happened after nft artwork doesn't sell❓can you please answer

[@annakaczmarczyk1318]

Have you figured out?

[@Jacob-ex2vn]

@@annakaczmarczyk1318 ​ have you figured it out? I've had this same question for a while.. 🤞🤞

[@DCMulay]

Love the content! And love your style! :). I have one question: Is it possible to LIST an entire collection of 10,000 NFTs on Opensea, but then only release say 500 for SALE? My plan is to put up lots of 500 every week or so, but I'm unclear on whether that means I should only list 500 at a time. Do you know??

[@NFTsSimplified]

Yep! Listing vs putting up for sale are two different actions!

[@maredsolien7444]

What happens if my listing is not sold on Opensea before the expiration date? Will I lose my NFTs or will I have to pay fees to simply reclaim them? Thanks!

[@eyeswideopen6492]

very informative, thanks for sharing. subbed n liked :)

[@NFTsSimplified]

Thank you so much!! I really appreciate it :)