Understanding Gas Fees on OpenSea.io

I created my first NFT on OpenSea and had to pay a one time gas fee. I thought that was it as far as money going out. I was wrong.

Then, I sold my first NFT, which I listed for a very affordable price and was charged yet another “gas fee” that was more than what I made. What? Yeah, that sucked. So, I started to read more about how not to pay gas fees every time an NFT sells. And here’s how to do it:

List it as a set price. Not on auction. Or sell it for at least 1 ETH. As of today 1 ETH is about $1,700. So, that makes your NFT quite expensive. And without a famous name to launch you, it may be tricky to sell for that price.

So I sold my first NFT at a loss. I did that to try and get some traction, and establish myself. Now I’m going to wait for all my auctions to expire and then relist my NFT’s as a set price or for at least 1 ETH. Not sure how this is going to work. But It’s kind of stupid to pay a gas fee that’s more than my profit.