What is Batch Offers?
The Batch Offers feature on our platform allows collectors to place a single offer across multiple NFTs within an entire artist's collection or a series. This means that instead of making individual offers for each artwork, collectors can now make a single offer that will be broadcasted to all current owners of the artworks in that series.
This feature provides convenience and efficiency for both collectors and artists. It saves time and effort for collectors who are interested in acquiring multiple artworks from a series, and it also allows artists to receive offers for their entire collection at once.
How it Works
When a collector makes a batch offer, it will be visible to all current owners of the artworks in that series. The first owner to accept the offer will complete the transaction, after which the offer will automatically be invalidated for the remaining artworks in the series. This ensures that only one collector can purchase the entire series at the offered price.
Additionally, collectors will have the option to revoke their offers at any time before acceptance. This provides flexibility and control over their bids, allowing them to adjust their offers or cancel them if they change their mind.
How to Make a Batch Offer
The user interface will be updated to include a “Make a Batch Offer” option on the series artwork pages, as demonstrated in the attached mockups. This option will be available for all series artworks, making it easy for collectors to place batch offers.
To make a batch offer, collectors will need to set the offer amount, which will apply across all artworks in the series. This means that the offer will be the same for each artwork, making it a convenient and straightforward process.
Additionally, collectors will have the ability to define the expiration period for their offers. They can choose between time frames of 24 hours, 3 days, 5 days, or 7 days, depending on their preference. This allows collectors to set a deadline for their offers and ensures that they are only valid for a specific period.