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

Watch this video before selling your first NFT!

While NFTs can be exciting to create, sell, and trade, if you’re not careful, you can actually LOSE MONEY selling NFTs if you don’t take into account gas fees

In this video, I’ll help you not lose money on NFTs by deepening your understanding of OpenSea fees

We’ll cover each and every fee on OpenSea, whether or not they’re necessary, and, if possible, how to avoid them

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TIMESTAMPS
00:00 – Intro
00:49 – NFT Gas Fees Explained
02:02 – Understanding OpenSea Gas Fees
02:12 – One-Time Fees (Initialization Fees)
03:06 – One-Time Fees (Auction Approval Fee
03:58 – Recurring Fees (Auction Acceptance)
04:18 – Gas Fee Example
04:46 – Recurring Fees (WETH to ETH Transfer)
05:20 – Recurring Fees (Canceling a Listing)
05:40 – Recurring Fees for NFT Buyers
06:10 – Lost NFT Example
06:48 – More Recurring Fees for NFT Buyers
07:12 – Recap of all OpenSea NFT Fees
07:56 – Introduction to Polygon

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