5 OpenSea Features that will give Decentraland Investors and Land Traders a HUGE Advantage
Posted On December 14, 2018
OpenSea is a cryptocollectibles marketplace with over 60 different games currently tradeable on the platform. They have been an avid supporter of Decentraland since the beginning.
In this sponsored blog post by OpenSea, I will go through some of their features that give Decentraland Land investors a competitive edge in the cryptocollectibles scene.
Placing Bids/Offers on Parcels in MANA
This one is a biggie.
One of my biggest leverage point as a Land/Cryptocollectibles flipper, is getting in touch with owners and negotiating a price.
Instead of just accepting prices on the marketplace, I’ve been able to get items shockingly cheap.
I usually go to the land marketplace and search through land listings for sellers that have added their contact details to their listing. But what about sellers that don’t have their contact details in their listing but have great lands you can possibly buy?
This is where OpenSea comes into play. You can send offers in ETH or MANA. If the seller agrees then the assets will be transacted. Again, this is also gas free!
I can easily go through a bunch of lands and send a multitude of offers and see if any bite.
Also, you can make as many offers as you want. So if you have only 10,000 MANA in your wallet, you can make that 10,000 MANA offer to 100 different offers on 100 best parcels! A very good feature as you can make a bunch of offers and see if any close.
Here’s an example of a land that accepted a 5 Eth offer.
There are many lands in Decentraland which are price way too high and the seller simply doesn’t know what a good price to put on the market place is. Putting money right in front of the seller can be much more appealing than them waiting for a buy, (which will probably never happen because their listing is 10,000%+ market price).
There’s also a neat graph that plots land sale history for each NFT token. For example, this land has been sold 4+ times which have been plotted on a graph.
Upcoming Decentraland Dutch Auction Support in MANA and Eth!
If you’re an Ethereum user and don’t want to convert to MANA to purchase your land in the upcoming Decentraland auction then use OpenSea.
They support Eth, MANA and a few other coins.
Creating Different Bundles
Another feature that is available but I have never seen anyone use, is the ability to ‘bundle’ assets.
Instead of just selling your land as it is ,you can make a bundle with it and other NFT tokens. This will obviously make it much more appealing and can land you a sale.
With the land Marketplace having thousands of land available for sale sometimes you may need to do something different to get the price you want.
Finding out what other NFT owners are invested in
I will admit, I feel like a bit of a stalker when doing this.
With OpenSea, you can see the portfolios of many users. Not just their portfolios for single games/dApps but ALL of them.
For example with this user we can see that they are invested in many crypto collectible games not just Decentraland.
So if we can make an offer, or get their contact details, we can capitalize on this knowledge by making them a bulk deal for everything.
Sometimes it’s difficult to get your money out of crypto collectibles because the volume can dry up and you can be stuck not being able to sell your item even at the price you bought it for!
In these cases, sellers may need to cash out some of their cryptocollectibles which is why having all of these features are very beneficial for both sellers and buyers. Especially if they have a LOT of cryptocollectibles and you can make an offer on all of them. Isn’t that better for the seller instead of them waiting for weeks, months and maybe years to sell each one individually?
More Exposure for people that buy in ETH
This is a no brainer. Decentraland is focused quite heavily on making Mana the main currency for users of the platform. They are actively trying to find more utility for the token so it can continue to grow in value. That being said, this may be frustrating for users of popular coins like Ethereum.
Most dApps actually don’t have their own currency token and many happily use Ethereum.
With OpenSea, you can use Ethereum to buy and send offers in. Which means, having your land available/listed on OpenSea can open up the doors for Ethereum holders who may want to buy into Decentraland.
OpenSea is doing a great job in connecting a multitude of dApps and creating features that increase liquidity.
They are at the forefront of building tools for a rapidly emerging NFT community and it will be interesting to see what they have in store in the future.