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NFT’s offer is now published on the Immutable X protocol. In other words, the NFT buyer can make an offer for the asset and the NFT seller can agree on the buyer’s price.
The launch of offers on the Immutable X protocol will allow buyers to offer below the asking price. Similarly, sellers have the option of accepting offers that are lower than the asking price.This increases trading volume across the ecosystem.
Our recently released features are available on all Immutable X Marketplaces.
Who does this launch impact?
- Marketplaces: Offers are trading primitives that allow users to offer different prices and try out new trading strategies to make Immutable X Global Order Book assets more liquid.
- Traders: NFT offers, in turn, offer traders more ways to use the market, more options to find prices, and more trading opportunities. NFT offers also provide a way to execute liquidity-based trading strategies on the Immutable X Global Order Book
- Games: Finally, NFT offers facilitate trade in in-game items. This means more royalties are paid and more people use the game.
How ‘NFT Offer’ It Works
Bids on individual items in the marketplace are visible to users. If you would like to make an offer, you can do so by clicking the Make Offer button.
Traders can use this dashboard to track active offers and cancel them if necessary.
As an owner, you can accept bids on assets. A front-end experience is provided to support this.
The Offers Received dashboard shows the number of listings for which the seller has received an offer. The best offers by listing are displayed here, allowing sellers to quickly review offers.
Please note that this is because the NFT offer is still in beta, so the following rules apply during this period:
- Limited to select markets
- Up to 10% of the asking price for listed assets only. Listed currency only.
- Rate Limit: No Sellers’ Market Fees
More about Immutable X
Immutable X is a Layer 2 solution secured by Ethereum and focused on NFT minting and Web3 games. This is done by StarkWare, an Ethereum scaling solution that enables Immutable X mint NFTs without using gas. As of this writing, according to the official website, over 33 million gas-free NFTs have already been created. Immutable X also enabled over 7 million NFT transactions in 2022, saving 2.7 billion kWh of energy compared to proof-of-work solutions.
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