objkt.com Enables NFT “Floor Offers” On Tezos

objkt.com Enables NFT Floor Offers

Objkt.com is one of the most popular NFT platforms on Tezos. Recently objkt.com introduced “Floor Offers”. By making a Floor Offer, you can make an offer to an NFT from a generative collection.

For standard offers, this would mean that only the owner of the NFT that the offer was made to, can accept the offer. But when a Floor Offer is made, any owner of an NFT that is part of a generative collection can accept the offer.

Generative NFT collections

A generative NFT collection is a series of NFT’s that are all similar, yet unique. Similar in the sense that there is a recurring common basis.

Unique in the sense that out of a preselected, large amount of inputs a computer algorithm produces random, unique outputs that change the common basis slightly and/ or add perks.

Certain repetitive perks that vary in scarcity levels can be added randomly throughout the series. This creates a way to rank the final series of characters on scarcity level.

Scarcity levels and the floor price

The scarcity levels make certain NFTs that have rare or unique rankings a lot more valuable than basic or common NFTs in the collection.

The common NFTs in the series are sold for the lowest price, also referred to as the “floor price”.

This price varies over time as ask and demand results in trading the NFTs in the collection for whatever prices people want to pay.

The floor price is an indication of rising or falling prices within all scarcity levels of the collection.

The name “Floor offer” that has just been introduced on objkt.com, comes from the term “floor price”.

Making a Floor Offer, means you set a price that can be accepted by all owners of an NFT of the specific NFT collection that the NFT belongs to.

Making a Floor Offer is intended for people that want to buy any NFT from a generative collection instead of a specific NFT, and want to pay a price below the current set floor price.

The floor price is set by people that list their NFT at a certain price. The current price for a Dogami NFT, is 439 XTZ. This means that the lowest price that you can buy a Dogami NFT for, is 439 XTZ. But what if you want to buy a Dogami NFT for 400 XTZ?

Before the introduction of Floor Offers, you could only make an offer to one of the 4,000 Dogami NFTs. But after the introduction of Floor Offers, you can now make an offer of 400 XTZ to all Dogami NFTs.

This increases your chances of finding someone that is willing to sell you a Dogami NFT by a large margin. 

Disclaimer

Nature of Content: All content published on https://xtz.news, whether written, auditory, or visual, is for informational purposes only. Opinions expressed therein are solely those of the individual authors and do not reflect the views of XTZNews or its management.

Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.

Accuracy and Completeness: While XTZNews makes every effort to ensure the accuracy and reliability of information, we do not warrant or guarantee the timeliness, completeness, or accuracy of the information presented. The website may contain errors, omissions, or inaccuracies. We disclaim all warranties, both express and implied, regarding the information, including but not limited to, any warranty of merchantability or fitness for a particular purpose.

Endorsements: References to specific entities, products, services, processes, or other information does not constitute or imply endorsement, sponsorship, or recommendation by XTZNews. Blockchain technology is in a developmental phase, and the engagement with the technology and its associated entities carries inherent risks.

User’s Responsibility: Users are encouraged to conduct their own research and due diligence and to seek the advice of qualified professionals before making any investment or decisions related to content on this site. Engaging with blockchain technology, cryptocurrencies, and associated applications should be undertaken with caution, understanding the inherent risks involved.

Limitation of Liability: Under no circumstances will XTZNews or its affiliates, partners, officers, directors, employees, shareholders, agents, or licensors be liable for any direct, indirect, incidental, special, consequential, or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the site; (ii) any content obtained from the site; or (iii) unauthorized access, use, or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence), or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed its essential purpose.

Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.