objkt.com Enables NFT “Floor Offers” On Tezos
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.
Image Credit: Courtesy of the Tezos Unsplash Library.
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.
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