We are excited to announce the launch of Global Offers on MakersPlace to smooth, simplify, and speed the process of acquiring a multi-edition NFT artwork.
What is a Global Offer?
A Global Offer is a single offer that, when placed, is submitted to all editions of a multi-edition artwork. The winning offer will go to the first seller to accept the offer.
This has been one of the most requested features from collectors as an easy way to acquire an edition of artwork without submitting individual offers to multiple owners across every edition.
How Global Offers help NFT collectors
- Providing a simple way for a collector to submit an offer on all editions by submitting a single global offer.
- Providing helpful notifications to both bidder and edition owners so they can easily follow the global offer.
- Seamlessly incorporating global offers and individual offers to eliminate friction in understanding how to submit, accept, cancel, and reject a global offer versus a regular offer.
How Global Offers Work
At the time of bid, collectors are given the option to submit a regular bid for that specific art piece or place a Global Offer in an attempt to acquire any edition of a limited edition artwork.
Collectors have the option to make an offer in ETH or fiat (via credit card) as with any normal offer. If an owner rejects the Global Offer, it only hides the offer for them, but the Global Offer remains in effect for all other edition holders.
A global offer made in ETH can be updated by the existing bidder, allowing them to add additional ETH to increase their offer rather than submitting a brand new offer. This benefits the bidder by avoiding unnecessary gas fees and avoiding the need to hold more than you intend to bid.