As the recent Enjin Blockchain ‘Kampong Glam’ upgrade successfully concluded, the Enjin Matrixchain network is now proudly able to implement the ability to create marketplace offers, and NFT.io - Enjin's dedicated NFT marketplace, stands ready, welcoming everyone keen on making or engaging with offers.

What is an Offer?

A marketplace offer is a feature that allows users to express their interest in purchasing a particular NFT that may or may not be currently for sale. Instead of waiting for an NFT to be listed for sale, users can proactively make an offer to buy it at a price they're willing to pay. This feature essentially allows users to 'call dibs' on an NFT.

Users now have the ability to make an offer on any NFT asset, regardless of whether it has been listed for sale or not. What's more, there is no minimum value restriction - offers can start from any price point the user decides. This gives increased price discovery for potential buyers and a new level of flexibility and freedom to express interest in a particular NFT.

Once an offer is made, the current owner of the NFT (the 'offer taker') receives a notification. If the owner is interested in selling but not satisfied with the proposed price, they are not left without options. Instead, they can respond with a counter-offer, proposing a different price that they find more acceptable.

But the interaction doesn't stop there. The 'offer maker' - the user who initiated the process with their original offer - is notified of the counter-offer and given the chance to respond. They can either accept the counter-offer, thereby agreeing to the new price and concluding the transaction, or they can make a new counter-offer, proposing yet another price.

This system of offers and counter-offers creates a dynamic and interactive negotiation process, more akin to a live auction than a traditional online marketplace. It adds a new level of excitement to the NFT trading experience on NFT.io, and opens up opportunities for more direct and flexible interactions between buyers and sellers.

Whether you’ve been patiently waiting for a classic NFT to be listed or you’ve lost a bidding war from the last auction, marketplace offers will surely be a game changer making NFT.io a dynamic market environment where ownership and prices are not just dictated by NFT sellers but also by interested parties. This further cements its status as an increasingly user-centric marketplace.

What’s your pick? Don’t miss out to try the Offers feature on NFT.io today!