This new addition makes it easy for anyone to make offers on listed NFTs, while owners can accept or decline them. Find out about the concept of WRON, the Wrapped RON token, and its role in the offer system.
1/ The Make Offer Feature is now LIVE on Mavis Market!
Ronin is becoming the king of the gaming chains, and it’s our responsibility to empower our communities with the tools they need.
Let’s talk about WRON, how to make an offer, and the managing the offers you receive 🧵👇 pic.twitter.com/YQ9p9jo615
— Ronin (@Ronin_Network) October 3, 2023
WRON, or Wrapped RON, serves as the cornerstone of the “Make Offer” feature. With 1 WRON always equaling 1 RON, it offers enhanced technical properties that streamline the offer process on Mavis Market.
To participate, users simply need to swap their RON to WRON within the platform. The option to do that is present in their account’s dropdown menu.
Making Offers on Mavis Market
Making an offer on Mavis Market is a very simple process. It makes buying easy for people who are there to get their hands on their desired NFTs. To make an offer, you first need to make sure that you have enough RON in your Ronin Wallet.
Secondly, you will visit Mavis Market, connect your wallet, and swap RON to WRON. After that, you can browse the NFT listings and select the NFT you wish to acquire.
There, you will click on the “Make Offer” button and finally enter the offer details, including price and duration. Remember to double-check your WRON balance before making any withdrawals to avoid offer invalidation due to insufficient funds.
Accepting Purchase Offers from Buyers
It is quite exciting for anyone to get an offer on their listed NFTs. Mavis Market makes it super easy for you to manage and respond to offers. All you need to do is go to your profile on Mavis Market and click on the “Offers” tab.
After that, select “Offers Received” to view the offers made on your NFTs. Finally, you can review the offer details and click “Accept” if you agree to the terms.
Keep in mind that creators can set their own royalty fees, which will be applied to the final sale price. Additionally, a 2% fee is deducted by Sky Mavis for each sale, with the Ronin Treasury receiving 0.5%.
The platform also defines offers as valid or invalid based on having enough balance to buy NFTs. It is likely to get more than one offer on the same NFT, and the owner can decide which offer to accept.