Collection Offers enable buyers to easily place offers globally--on an entire NFT collection. This feature is useful when you want to buy into a project at a specified price but also are not particular about exactly which item you're buying. Collection Offers save time for buyers by reducing the need to constantly make item-level offers on NFTs listed close to the floor price. It also creates the opportunity for any potential sellers to instantly liquidate their holdings.
How Collection Offers Work
In order to place a collection offer, Magic Eden recommends creating a separate wallet specifically dedicated for this purpose. The new wallet will need to be funded by the total intended offer amount.
You can find the Collection Offer widget on the right hand side of the Items tab, under the Buy button.
Tip: Your selected royalty setting (full, half or none) will apply to the collection offer/s that you will make. For example, for a collection that has 5% royalty, if you select 'full royalty' and make an offer for 10 SOL, your total offer amount will be 10.5 SOL (10 + 0.05 * 10 = 10.5).
The introduction of Collection Offers means all holders (potential sellers!) will have the option of instantly selling their NFT.
All collections with a Collection Offer will show the highest “ Instant Sell” button at the top of the project’s collection page, and interested sellers will see their NFTs preselected based on the number of items they want to sell.
Tip: Please be extremely careful to avoid mistakenly selling rarer NFTs when filling collection offers.
Multiple offers with options
Soon you will also have the ability to:
Choose the total quantity of collection offers you want to make
Customize the duration of your offer/s
When making multiple offers, choose whether to have fixed or dynamically priced offers
Magic Eden is working on Collection Offers based on traits. We also plan on organizing all Collection Offers into a chart so both buyers and sellers can experience optimized visualization. Preselected sales to instant bids will be selected according to rarity. We also plan on tweaking and adjusting features based on community feedback.
Q: Do I need to fill my bidding wallet with SOL to make collection offers?
No. The funds in your bidding wallet are only used for item-specific bids or offers. Any funds used for collection offers are immediately withdrawn from your main wallet and placed in the collection offers pool. You can cancel your remaining, unfilled collection offers anytime. Any remaining unused funds will immediately be returned to your main wallet upon canceling your offers.