How Does The Opensea Clone Script Works

Oct 12, 2021

OpenSea is the popular and first built Peer to Peer NFT marketplace that offers a way to buy, sell, trade NFTs, It is the biggest marketplace for digital goods such as collectibles, arts, domains, and more. It was founded back in 2018 by  Alex Atallah and Devin Finzer by the inspiration from Cryptokitties. 

Many Cryptopreneurs out there are willing to kick start their own NFT Marketplace like Opensea with Opensea Clone Script  

How Does Opensea Clone Script Works ? 

It understand its working methodology precisely, We need to have a look at it with two perceptions 

1. Buyer's Perspective  

Buyer can use the platform for free. The NFT Buyer Buys the NFT with specific rights and license so that the NFT includes royalty fee.

1. At first, need to register in the Platform

2. To begin with trading, buyer have to load the wallet with WETH

3. If Auction is available, they can participate in Auction process

4. Buy the listed NFT with the labelled amount

5. Corresponding money has sent to Creator Wallet and NFT is sent to buyer's wallet 

2. Seller's Perspective 

The Seller might be the artist who creates NFT and list it. Specially equipped smart contract provides secured transaction between two parties

1. Sign up in the platform

2. Upload the file in the specified format

3. Create NFT

4. Need to pay gas fee to create smart contract.

5. Any Buyer can buy your NFT with desired amount

6. The seller received corresponding ETH and the buyer received NFT 

Read More: Opensea Clone

Articles authored by  Alice Jenifferze

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