Bidding enables you to decide how much you're willing to spend on an NFT. Your offer will either be accepted or declined by the owner of the NFT.
Before diving in to the steps to bid on NFTs on a community marketplace, let's address the difference between bidding on an individual item and a floor bid:
- If you bid on an individual item, only the owner of that specific NFT can accept it and there's no variety of what NFT you could receive.
- Placing a “floor bid” allows any owner of any NFT in the selected collection to accept your bid. By placing a floor bid, you could get any NFT from the collection. Floor bidding increases the chance for your bid to be accepted.
Placing a Bid on an Individual Item:
1. Connect your wallet to the marketplace on the top right-hand side of the home page.
2. Click on the "Explore" button to go to the collection's page.
3. Find the NFT you'd like to place a bid on. Click on "Place a Bid" below the item's description.
4. Input your bidding price and choose your bid's end date.
Note: If you want to match the collection's floor price, you can see the floor price of the collection under the field where you enter your bidding price.
5. Click on "Place a bid."
6. Sign the transaction in your wallet to confirm that you want to place a bid.
7. Your bid has now been placed.
Note: You can see your bid under "Active bids" on your profile.
Placing a Floor Bid on a Collection:
1. Connect your wallet to the marketplace on the top right-hand side of the home page.
2. Find the collection you'd like to place a bid on.
3. Next to the collection's stats, click on either "Collection bid" or "Floor Bid."
4. Input your bidding price and choose your bid's end date.
Note: The bid must be at least 75% of the current floor price. You can see the floor price of the collection under the field where you enter your bidding price.
5. Click on "Place a floor bid."
6. Sign the transaction in your wallet to confirm that you want to place a bid.
7. Your bid has now been placed.
Note: You can see your bid under "Active bids" on your profile.