“Offers” Function is Now Live
What is the Offers Function?
The new OFFERS feature enables users to send, receive, and manage their NFT offers on the OneOf Marketplace.
How to Use the Offers Function?
- If you’re a seller and you’re not sure how to price your NFT or your NFT has been sitting on the Marketplace with no bites — the new OFFERS function allows you to make your NFT “public” for offers. This allows the public to determine the best price and takes the guesswork out of pricing your NFT — giving you a higher chance of making a (profitable) sale. The OFFERS function also reveals the number of offers on any given NFT, helping to drive FOMO and hype for your NFT.
- If you’re a buyer looking to purchase from the OneOf marketplace, the OFFERS function allows previously hidden NFTs to become available on the Marketplace. You’ll be able to make offers on NFTs you want based on what you think they’re worth (rather than accepting a set price).
NOTE: When you make an offer your payment method will be held as collateral and you will not be able to cancel it for a minimum of 6 hours to ensure sellers have a chance to accept offers made and minimize spam.
Feature Breakdown
- Making NFTs Public or Private
With Offers, NFTs can be made “public” or “private.” In a private state, the NFT is hidden from the Marketplace. In a public state, the NFT is visible on the Marketplace for the public to make offers on and does not need a set price for listing.
2. How to Make an Offer
Offers on NFTs listed on the Marketplace can be made using debit/credit card, crypto or Marketplace credit. When an offer is made, the total funds of the offer amount will be placed in escrow to ensure the buyer follows through with their offer request.
3. Receiving Offers on the Marketplace
An incoming offer will be accompanied by an email notification, an in-app bell notification, and an in-app banner notification. These notifications can be managed in the new “notifications” tab in My Profile.
4. Managing Received Offers
You are now able to manage received offers from My Collection. On the NFT details page, click the “Manage Offers” button to be redirected to a page where you can view and manage all the offers you have received. There, you have the option to accept or decline offers.
5. Managing and Canceling Sent Offers
View and cancel any sent offers by navigating to the Marketplace Auction Page where you sent the offer. There, you will see a new tab where you can view all the offers you’ve sent and cancel them. Note: you must wait 6 hours after you made the offer to cancel it.
Notes About Offers
- For the initial release, you will not be able to turn off offers-related email notifications (i.e. receiving an offer). This function will be built in as a fast-follow.
- After making an offer you must wait 6 hours before you can cancel it.
- If you list an NFT for a flat price on the marketplace, it will automatically be made “public” for offers.
- When you buy an NFT with credit card, you must wait 30 days for the credit card cooldown period to expire before you can make your NFT public for offers.
About OneOf
Deeply committed to a sustainable and inclusive blockchain future, OneOf is a platform that supports NFTs on multiple energy-efficient blockchains, connecting fans and collectors to iconic musicians, athletes and brands. OneOf aims to bring the next 100 million non-crypto-native fans into Web3 by removing the technical frictions and allowing fans to pay for their NFTs with credit/debit cards as well as major cryptocurrencies. Minting an NFT on OneOf’s platform uses up to 2 million times less energy than proof-of-work networks, and for its users, purchasing NFTs costs $0 in blockchain gas fees. A leader in diversity, over 80% of the collections curated by OneOf come from minority or female creators. Visit oneof.com for more information.
