How to Buy and Sell NFTs: OpenSea and Blur Trading Guide

NFT trading is generally conducted through Web3 wallets and NFT marketplaces. OpenSea offers relatively straightforward browsing, buying, listing, and offer functions, while Blur is more focused on professional NFT trading and provides market data such as floor prices, last sales, top bids, depth, and bulk trading tools. Regardless of which NFT marketplace is used, traders should prioritize verifying the blockchain network, official contract address, total transaction amount, gas fees, and wallet permissions. This OpenSea tutorial and Blur bidding guide is intended for educational purposes only and should not be considered financial advice.

What Do You Need Before Trading NFTs?

Before trading an NFT, users should first confirm which blockchain the asset is on and prepare a compatible wallet.

For example, Ethereum-based NFTs generally require a wallet that can connect to Ethereum applications, along with sufficient assets to pay for the NFT and any required network gas fees. Not every NFT operates on Ethereum. Before transferring assets from a centralized exchange to a Web3 wallet, users should verify both the token and blockchain network. Selecting an incompatible network can result in assets failing to arrive as expected.

Another important step is verifying the NFT collection and contract address. Popular collections are frequently imitated by fake projects using similar names, images, or branding. Searching by project name alone may not be enough to verify authenticity. A safer approach is to confirm the smart contract through official project channels or a trusted blockchain explorer.

Users should also understand the meaning of floor price. An NFT floor price generally refers to the lowest publicly listed asking price within a collection. It represents the seller’s current asking price, not a guaranteed valuation for the entire collection and not a guaranteed future exit price.

OpenSea Tutorial

OpenSea is one of the more widely recognized Web3 NFT marketplaces.

After connecting a wallet, users can search for a target collection and open an individual NFT page to review information such as token details, traits, ownership history, transaction activity, and current offers.

If an NFT has an active fixed-price listing, users can follow the marketplace flow to purchase it. Some NFTs also support offers, allowing buyers to submit a price that the current holder can choose to accept or reject.

Before confirming a transaction, users should verify the NFT, blockchain network, payment asset, and the details shown in the wallet confirmation window.

To sell an NFT, users can navigate to the asset held in their wallet and create a listing based on the marketplace’s available options, including price and expiration time. If there is an active offer that meets the seller’s expectations, the seller may also choose to accept it.

Gas fees are blockchain network fees and are separate from the NFT sale price.

Marketplace service fees, creator earnings, and gas fee responsibilities may change depending on platform rules and transaction types. For this reason, users should always check the latest order confirmation details rather than relying on fixed fee percentages from older tutorials.

How Does Blur Bidding Work?

Blur is designed more heavily around active NFT traders.

On collection pages, users may be able to view data such as Price, Last Sale, Top Bid, Rarity, holders, bid depth, and transaction activity in a single interface.

The key concept behind Blur bidding is the Bid, which represents the price a buyer is willing to pay for an NFT or collection. Submitting a bid does not guarantee an immediate transaction. A trade still requires a seller to accept that price or for matching market conditions to occur.

For beginners, understanding bid depth is often more important than learning how to quickly sweep a collection. If a collection displays a high floor price but its Top Bid is significantly lower, the gap suggests that sellers and buyers have different price expectations. In that case, the collection’s actual immediate liquidity may be weaker than the floor price alone suggests.

NFT transactions are generally irreversible once confirmed on-chain. Users should verify official URLs before connecting wallets, avoid unknown mint or airdrop links sent by private message, and carefully review permissions such as Approve or Set Approval for All before signing.

FAQ

• Do I always need ETH to buy NFTs?
  No. The required payment asset and gas token depend on the blockchain and marketplace being used.

• What is the main difference between OpenSea and Blur?
  OpenSea is oriented toward broad NFT discovery and general trading, while Blur provides more data-heavy bidding and bulk trading tools for active traders.

• Does placing a bid on Blur guarantee that I will buy an NFT?
  No. A bid is simply a buyer’s offer. A seller must accept the bid or matching conditions must be met.

• Is the NFT floor price the same as its real value?
  No. Floor price only reflects the lowest current seller listing. Liquidity should also be evaluated using Top Bid, trading volume, transaction frequency, and market depth.

• What are the most common NFT trading security risks?
  Common risks include phishing websites, fake collections, malicious wallet signatures, and excessive smart contract approvals.

Mastering the basics is the first step. Follow MGBX Academy to access more cryptocurrency educational resources and market opportunities.

The process for trading on MGBX:

1. Register a trading account and complete the necessary identity verification;

2. Deposit funds and select a trade type;

3. On the cryptocurrency trading page, enter the amount or quantity of the cryptocurrency you wish to purchase;

4. Confirm the order to complete the trade, and check that your assets have increased accordingly.

Further Readings：

The Complete Beginner’s Guide to NFTs

What Is NFT: A Single Image Sold for Millions?

Types of NFTs: PFPs, Art, Gaming, Music, and Web3 Domains

Bitcoin NFTs Explained: Ordinals and the BRC-20 Inscriptions Ecosystem

NFT Market Analysis: How to Evaluate the Investment Value of an NFT