Flipping NFTs in OpenSea vs. MagicEden

There are two ways of flipping NFTs. It’s either you do a quick flip for a fast profit, or you hold for weeks and wait for the NFT collection to pump in floorprice. Either way, profit is profit. And before we continue, here’s a disclaimer.


This content is not financial advice, it merely cites our own personal opinions, and this video is for educational purposes only.

Moreover, we’ll share our experience in flipping NFTs on these platforms. And at the end of this article, you’ll discover which we think is more profitable and some of our insights why. Right away, let’s begin.

OpenSea – Cradle of NFT Space

OpenSea is undoubtedly the cradle of NFT space. The biggest and most successful NFT collections would not be possible without it. That’s why it became the best platform whenever Board Ape Yacht Club, Moon Birds, or Cryptopunks were mentioned. However, OpenSea mainly works with the Ethereum blockchain, which requires massive gas fees. And that’s why when alternative platforms came to be, new NFT aspirants hoped for this more affordable option. As of the moment, in this category, the leading platform is Solana blockchain, with MagicEden as its main marketplace. And here’s how we’ve experienced flipping NFTs on both platforms.

OpenSea/Polygon Real Experience

So, in OpenSea, we mainly invested in Polygon NFTs to avoid the expensive gas fee. And as new to the NFT space, we’ve tried looking for an affordable NFT collection, and we’ve found “Boodle Bears” and “REVV Racing.” Yes, with $20 worth of WETH, we managed to bought not one but 3 NFTs. This again with no gas fees since it’s in Polygon. Of course, aside from getting a gist of owning an NFT, we also want to make some profits. That’s why we’ve listed our NFTs at 10% above the floor price. We did our best in looking for the rarest NFT in the “Boodle Bears” collection. But sadly, being afraid that the project is a RugPull, we immediately did a “quick flip.” It got sold, but the profits were burned not by the gas fees but the royalty fees.

READ MORE: NFT 101: Do this and get Whitelisted NOW

Meanwhile in Solana NFT Space

In contrast, we’ve managed to get whitelisted in “Miners of Mars.” And when a Solana NFT collection has a solid roadmap, unique art, and trustworthy people behind it. Then most likely, you’ll make a profit in “quick flip” in MagicEden, after the mint. And that’s what exactly happened. It didn’t even take 40 minutes for the whole 7k collection to be sold out. And when we’ve managed to profit almost 2x of our minting cost. Then, after making sure that we’ve spent enormous time and effort researching the collection, the rarities, and the value of each trait of “Miners.” We’ve managed to try buying undervalued NFT that was listed slightly higher, or at floorprice, as a potential “quick flip.” This made us a sure 5-10% profit, less the fees. But if you’re curious why we’ve got better experience in MagicEden, then here’s why. 

Final Thoughts

Yes, in OpenSea, it’s almost impossible to look for a promising NFT project unless you’ve got big capital. Or you plan to hold an NFT for months that we’ve never tried since, as new in the NFT space, we’re always looking for the best practice that has less risk. And the “expensive gas fees” and high cost “entry point” on promising OpenSea NFTs intimidated us even before trying. Again, this is based on our own personal opinion, so make sure you DYOR.

READ MORE: NFT 101: Do this and get Whitelisted NOW

To be continued…

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