OpenSea Deals Guide: A New Way To Trade NFTs
OpenSea Deals is a new way where you can propose exchanges of your NFTs and WETH for others’ NFTs! Say goodbye to unreliable DM agreements. With OpenSea Deals, the transaction is consented to by all parties involved and securely executed on the blockchain.
What Is OpenSea Deals?
OpenSea Deals is a new feature launched on the popular NFT Marketplace OpenSea. With OpenSea Deals, you can now securely make private deals with other traders without of the fear of the seller or buyer not holding up their end of the bargain.
Why Use OpenSea Deals?
Here are a few reasons to use this new feature:
- Easy to use (See our tutorial below)
- Safe and secure
- Verifiable on the blockchain
Are Deals Made Using OpenSea Deals Free Of Charge?
As with Offers, the user who accepts the Deal will bear the gas costs. Currently, Deals transactions exclude the OpenSea fee and any earnings for the creator.
Is It Safe To Use OpenSea Deals?
As with anything involving NFTs and money, it is best to do your own research before using a feature. However, given that it is an official feature from OpenSea, it is likely much safer than off the table transactions.
How To Use OpenSea Deals?
Using the ‘Make a Deal’ feature, you can propose an exchange involving one or multiple of your NFTs for another user’s NFTs, with the option of adding some WETH to the offer.
Step 1: To begin, all you require is the wallet address, ENS name, or OpenSea username of your desired trading partner. Visit https://opensea.io/deals/create to initiate a deal.
Step 2: Once you have selected a user or address, select the NFTs you are interested in and click “Next”.
Step 3: Select the NFTs you’d like to offer and optionally the amount of WETH you would like to add to your offer. Once confirmed, click “Next”.
Step 4: Review your proposed deal and click ‘Send deal’. You may need to approve the collection before signing the transaction.
Upon sending the Deal, a confirmation message will appear at the bottom of your screen.
As with Offers, the user who accepts the Deal will bear the gas costs.
Currently, Deals transactions exclude the OpenSea fee and any earnings for the creator.
- Only ERC-721 NFTs from accredited collections, which are publicly displayed on a user’s profile (not hidden), qualify for Deals.
All your ongoing deals can be viewed under the ‘Deals’ tab in your profile. You have the option to cancel your proposed Deals from this tab, but be aware that this will incur a gas fee.
OpenSea Deals is a quick, secure and verifiable way to make offers and exchange NFTs with other users. Be sure to take advantage of this feature the next time you want to deal with others to avoid being a victim of NFT scams.