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What Is OpenSea Shared Storefront?

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Are you at the contract stage of minting your NFT on OpenSea and you come across the shared storefront and you keep asking what is OpenSea shared storefront?

Well, knowing what is OpenSea shared storefront and understanding how it works on Opensea will help you to successfully mint your NFT on Opeansea in the right way.

So in this article, we will explain what is OpenSea shared storefront, how to use it, and how to create your own storefront on OpenSea.

Without wasting much of your time, let’s start with OpenSea shared storefront meaning.

What is OpenSea shared storefront?

OpenSea lets new creators mint their own NFTs via a shared smart contract known as the Shared Storefront.

Then the question is what is OpenSea shared storefront?

OpenSea shared storefront is essentially a contract template for assigning a token to a media file that turns to NFT on Opensea.

These templet contracts are created by more experienced Ethereum developers off their NFTs on Opensea, who put them up on the shared storefront as template contracts for users who have no idea of how to create their own custom contracts.

For instance, when creating an NFT on OpenSea and you click the contract ID in the chain info, It will take you to the Etherscan to a page that shows a token tracker called OpenSea Shared Storefront.

If you click the contract ID in any of the famous NFT creators’ pages, such as Bored Ape Yacht Club, you will get their own custom template“ boredapeyachtclub (BAYC)” tracker.

However, more experienced Ethereum developers usually choose to write their own custom contracts, which gives them greater flexibility and control over their NFT contracts.

But As a newcomer who just started using OpenSea or Ethereum, Opensea Shared Storefront is a common go-to option for you to start minting your NFT on Opensea with little or no Ethereum coding experience.

By learning what is OpenSea shared storefront, you will understand that each NFT token is generated by one contract.

So if you are a beginner in the NFT market or Opensea and a less experienced user, there is nothing wrong to use the contract on OpenSea shared storefront to mint your NFT.

However, you can create your own contract as Bored Ape Yacht Club did by just doing some custom settings on the contract page and also selling it on OpenSea.

How to create OpenSea Storefront

Now you have known what is OpenSea shared storefront, the next thing is to know how to create an OpenSea storefront.

In the below steps that will help you create your own storefront, we assume you have a Metamask account, and you are familiar with cryptocurrencies, and NFTs.

Also Read: NFT Utility: Meaning, Examples, Ideas, & Best NFT Utility

Follow the guideline below to know how to create a Storefront on Opensea:

  1. Open your OpenSea website and then click on the “Create” button on the menu.
  2. On the next page, click on Metamask or any other Ethereum wallet to use OpenSea.
  3. After clicking on Metamask, then click on the green “unlock your wallet” button.
  4. Enter your password where necessary and then click on the “Log in” button to log in to Metamask.
  5. Click on the blue “Connect” button to connect Opensea to your Metamask account.
  6. After you are connected, click on “Storefront Manager.”
  7. Under New Storefront click the blue “CREATE” button.
  8. Click the “check box” to acknowledge Terms of service and then click the blue “Proceed” button.
  9. Under signature request, scroll down and click on “sign” to approve the contract creation.
  10. On the next page, Fill in the information you want for your storefront, such as creating a name for the storefront and also creating a token name (Note: this name will be attached to all NFTs you create under this storefront). While filling out the form, be careful with the token ID as it can not be changed later. The storefront logo, storefront name, and description can be changed later. After filling in the information, then click on the blue “Create” button to create your storefront.
  11. It will now take you to where a one-time fee to create your storefront will be charged, so after you are done click on the blue “Confirm” button. You will wait for a few seconds for the blockchain to confirm your payment.
  12. Then click “DONE”, you have successfully created an OpenSea storefront!

Due to the feedback Opensea received about their creator tools, in January 2022, they updated their collection storefront contract limits to only permit the creation of up to 5 collections and 50 items per collection.

The reason Opensea limited the number of collections and items they permit on storefront contracts is because of spam and fake collectible.

According to OpenSea, more than  80% of the items created with this tool were plagiarized works, fake collections, and spam. Stating that they originally built their shared storefront contract to make it easier for new creators to onboard into the space.

CONCLUSION

The above article is the answer to the question “what is OpenSea shared storefront?” and we hope it helps you understand OpenSea shared storefront meaning as well as how to create OpenSea Storefront.

Remember that if you are a less experienced user in Ethereum development, the best option is to use any of the contracts on the OpenSea shared storefront.

The only downside is that it will make NFT buyers not buy high-value collectibles from that contract.

Thank you very much for having time to read this article about “what is OpenSea shared storefront” to the end. Please remember to subscribe to our newsletter to get updated anytime we drop NFT related articles.

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