OpenSea User Guide: As a DApp player, you better know this

A few days ago, a group of friends sent a screenshot like this:

Ink thought, Nani, 1.5 ETH? Isn't this the half of my service in the encryption hero? I also have ink, can I sell 1.5 ETH?

So Moh opened this magical website, known as OpenSea for "blockchain game eBay".

In short, OpenSea is actually a decentralized asset trading platform, but it is different. At present, most of the games it supports are ERC721's game digital assets, so it is also a frequent blockchain game enthusiasts. One of the sites. Next, Mok introduces some basic usage guides.

Data from spiderstore

Become a seller on OpenSea

When we get better but some extra equipment in the game, or when we don't want to play abandon, we can take out the assets in our blockchain game and sell them. Of course, at the very beginning, we need to confirm that the assets that need to be traded are on the Ethereum main chain. For example, my encryption hero uses the Loom sidechain to store game assets, so I need to transfer assets to the ETH network in the game.

Once your assets are confirmed on the Ethereum main network, you will be able to see your encrypted assets in OpenSea's My Account, and these encrypted assets can be sold.

At the current stage of OpenSea, there are four ways to sell:

One is direct pricing. For example, if my pricing is 1ETH, then the seller who wants to buy it can buy it directly by paying 1ETH. This pricing method is simple and rude.

The second is a Dutch auction, which is a reduced-price auction. You can set an initial price, end price and duration. During this time period, the equipment you auction will be reduced as time goes by, until the end, it will drop to the end price you set initially until there is a seller. Accept your price and buy it.

The third is the English auction, which is also our most common auction method. Before the auction, you can set a reserve price and a limited time. The seller's bid price must be higher than the reserve price. In the limited time, the highest bidder will get the encrypted assets of your auction.

The fourth is private trading. In fact, only the transaction channel is opened for the specified address. Except for the address, the other address cannot purchase the product, and the private transaction is exempt from the handling fee. In this case, OpenSea provides a one-to-one decentralized trading platform.

In addition, the items sold on OpenSea are sold separately, and they also support bundled sales. This bundled sale can be a different item in the game or an asset in a different game.

It should be noted that when selling your encrypted asset equipment on OpenSea, the first time you sell an asset of a game, you need to authorize the game type project to complete a preliminary authorization transaction, and the transaction is required to pay gas Fees. In addition to the sale, since only the signing of the message is required, and the chain transaction is not executed, no gas fee is required. This gas fee will be borne by the seller only when the final transaction occurs.

That is to say, when you sell the A asset of A game, you need to authorize the payment of the gas fee, and then the b and c assets of the A game are not required to pay the transaction fee. And when the B game assets need to be sold, you need to create a new authorization transaction to pay the gas fee again. This greatly reduces transaction costs and allows you to change your price at any time during the auction.

During the sale process, we can immediately see the bidding of the item.

If you are very satisfied with a bid in this process and want to end the auction ahead of time, you can also choose to accept the bid directly, then in this case, you become the initiator of the transaction and need to pay The gas fee for this transaction.

For transactions on OpenSea, you will be charged a certain fee. OpenSea will charge 2.5% of the transaction amount, but some other players will also charge a fee. For example, the popular game – my encryption hero, the game party charged 7.5% of the transaction amount as a handling fee, and the blockchain Meng pet does not charge an additional transaction fee, which will depend on the choice of the game partner with OpenSea.

In the account activity, we can see the encrypted asset dynamics of our account.

Become a buyer on OpenSea

On OpenSea, you can also buy some of the game items you want to have. At this time, we must mention a cryptocurrency called WETH, which has a 1:1 exchange relationship with ETH. You can exchange it for ETH at any time, or you can exchange WETH with ETH at any time. WETH is a separate currency used on OpenSea. But it is not a 1C0 project released by OpenSea. It's just to allow users to auction more items using the same ETH.

WETH is a currency form of packaged ETH. The difference between it and ETH is that, for example, I have 1 WETH in my hand. I can choose the 1WETH bid in the A project at the same time, and choose the 1ETH bid in the B project… But when the bidding of the A project is successful, I The WETH becomes 0, then my B project bid will be invalid. But before I was still in the transaction, I was able to bid for different products with this 1WETH. But ETH can only bid for a project to be used.

So when we buy a store on OpenSea, we convert ETH in our hands to WETH.

Then we need to find the goods we want to bid on. You can take a look at the latest news.

You can also search for a game or product name to find the item you want.

For example, my encryption hero sells a lot of goods on OpenSea.

You can bid directly if you see the favorite goods. If it is a clear price or a Dutch auction, you can buy this item as soon as you meet the seller's price. But if it is a British auction, you will have to wait until the auction time expires or the seller takes the initiative to accept your bid.

You can also cancel your bid before the auction ends.

The charm of blockchain games

In addition to OpenSea, there are now crypto asset trading platforms such as rarebits and emoon. OpenSea is the leader in this field. As early as last May, OpenSea received 2 million seed round financing. The investors in this round of financing included several investment institutions including Coinbase. At this stage, OpenSea has collaborated with nearly one hundred blockchain gaming organizations, and users can sell game assets in these cooperative games on OpenSea.

These crypto asset trading platforms are the advantage of verifying asset chaining. When we hang out the game assets, we can still use them for in-game upgrades before they are sold, rather than being unusable like the traditional trading platform hosting system. As long as the transaction does not happen, asset ownership is always in your hands. This is one of the important reasons why everyone advocates asset-winding.

In addition, blockchain game items have significant scarcity compared to traditional game items. Because the open and transparent data on the blockchain is much more reliable than the card pool rate in the unverifiable traditional card game, the scarcity of the item is more prominent.

And, digital assets have a very high liquidity, they can be transferred without being in the game, and they can flow globally. Even if the game developer stops maintenance, you can still trade the game assets outside of the game ecology. You can be forwarded by the player to a non-player, although he may not know what it is, but at least he can find it in the blockchain browser or his own wallet.

This also gives game companies a new business model that gives games assets value through games, and the high liquidity of game assets brings new fee income. Turning the activity of game asset circulation into the profitability of game developers can also better encourage game developers to constantly assign value to game assets and try to make the previous game assets not depreciate as quickly as possible.

The existence of OpenSea has made game assets truly a visual "asset" and has become a highly liquid commodity. Game asset chaining is actually a kind of value-adding behavior, which also makes virtual items more visible and close to physical items.

The current situation of OpenSea is to verify the words of my encryption hero homepage – "All the time and enthusiasm you pay for this game will become your real wealth." Such a win-win situation is probably a blockchain game. Different charms.