What is an Offer?
An offer allows buyers to propose a price for an NFT, giving both buyers and sellers flexibility in negotiating prices. This guide will walk you through how to place, accept, and cancel offers on JPG Store.
How to Place an Offer on an NFT
Locate the NFT:
Browse or search for the NFT you want to make an offer on. Navigate to the NFT’s asset page.
Click the "Make Offer" Button:
On the asset page, click the "Make Offer" button, usually located next to the NFT’s price.
Enter Your Offer Amount:
A pop-up will appear prompting you to enter your desired offer amount in ADA.
Confirm the Offer:
Double-check the entered amount and confirm your offer. Your ADA will be locked in the smart contract until the offer is accepted or cancelled. If the offer is declined, you will be notified, but the ADA will remain locked until you manually cancel the offer.
Track Your Offer:
Navigate to your profile, go to the "Offers" tab, and select the "Sent" section to view, update, or cancel your active offers.
How to Accept an Offer for Your NFT
If you’ve received an offer for an NFT you own, follow these steps to accept it:
Navigate to Your Offers:
Hover over your profile icon and click "Profile."
Select the "Offers" tab and navigate to the "Received" section to view offers made on your NFTs.
Review the Offer:
Check the offer details, including the ADA amount and the specific NFT the offer is for.
Accept the Offer:
Click the "Actions" dropdown next to the offer and select "Accept Offer."
Confirm the transaction to finalize the sale. The NFT will transfer to the buyer, and the ADA will be deposited into your wallet after deducting any applicable JPG Store service fees and royalties.
How to Cancel an Offer You’ve Placed
If you’ve placed an offer on an NFT and want to withdraw it, follow these steps:
Locate Your Sent Offers:
Hover over your profile icon and click "Profile."
Select the "Offers" tab and go to the "Sent" section to see all the offers you’ve placed.
Choose the Offer to Cancel:
Find the offer you wish to cancel.
Cancel the Offer:
Click the "Actions" dropdown next to the offer and select "Cancel Offer."
Confirm the cancellation. The locked ADA will automatically return to your wallet.
Note: If an offer you placed is declined by the seller, it will remain active. You must manually cancel the declined offer to retrieve your ADA.
Important Details to Keep in Mind
Locked ADA: ADA is locked in a smart contract until the offer is cancelled or accepted. Cancelling an offer ensures the ADA is returned to your wallet.
Notifications: Sellers receive notifications for offers, while buyers are notified if their offer is accepted or declined. Learn more in our guide: How to Manage Notifications on JPG Store.
Double-Check Offer Amounts: Always verify your offer amount to avoid unintended transactions, such as overbidding or placing an unreasonably low offer.
What’s Next?
Master the art of managing your NFT transactions efficiently by using the Offers feature effectively.
