Welcome to Magic Eden's guide on making unlimited offers for items in a collection! This article will walk you through the process of placing multiple bids on NFTs, allowing you to get the best deal possible without committing all your funds to a single item. Read on to discover how you can place numerous bids at a fraction of the cost using our bidding wallet feature.
How Does It Work?
Magic Eden offers you the unique opportunity to place unlimited bids on NFTs with ease. Follow these steps to understand the process:
Deposit Funds to the Bidding Wallet
To begin, deposit an amount, such as 5 Sol or any preferred value, into your bidding wallet. This initial deposit will enable you to place unlimited bids at 5 Sol or below for any NFT you desire. Surprisingly, you could have over 100 Sol worth of bids active while only investing 5 Sol in your bidding wallet!
Placing Bids
Once your bidding wallet is funded, you can start placing unlimited bids on NFTs. Be sure to select the correct option to utilize this feature properly. By doing so, you can place bids without incurring any charges. Feel free to repeat this process as many times as you like until a bid is accepted or you withdraw funds from the bidding wallet.
What Happens When an Offer Is Accepted?
Let's explore the outcome when one of your offers gets accepted:
If your bid for 5 Sol is accepted, the 5 Sol will be deducted from your bidding wallet, rendering your other bids inactive due to "insufficient funds." However, don't worry! You still have options to fund the remaining offers.
Funding Options
Click on the three dots next to your bidding wallet to reveal the funding options. Here are the available choices:
Fund All Offers: This option allows you to fund all remaining offers with a single click.
Fund Highest Offer: If you prefer to prioritize the highest offer, this option will fund only that particular bid.
Fund Specific Offers: You can also manually fund individual offers based on your preference.
Important Note:
Please be aware that bids will not automatically cancel when an NFT is sold or de-listed. To avoid any unexpected outcomes, make sure to manually cancel any active bids from the "offers made" tab. This way, they will become active again if the item is re-listed.
Congratulations! You now have a comprehensive understanding of how to make unlimited offers on Magic Eden. By using our bidding wallet feature, you can place multiple bids on NFTs, expanding your chances of acquiring sought-after items without overcommitting your funds. Start exploring the world of unlimited opportunities on Magic Eden today! Happy bidding!