Marketplace Mechanics

Direct Sales
Buying for the requested price does not require approval
Offers are taken into escrow and can be accepted by the seller
10% offer increment minimum
Offers are immediately refunded when a better offer is made
Offers cannot be removed, the amount is locked
Sellers - make sure to check frequently for offers. Once the sale period ends it is not possible to accept the best offer
Sales can be cancelled at any point
The price of a sale can be changed, but it can be no less than 10% higher than the current best offer
Auctions
Automatically ends and prevents new bids
The sale must be triggered (by anyone) to complete after the auction is finished. A script is run by PaintSwap every hour
Bids are taken into escrow
10% bidding increment minimum
Bids are immediately refunded when a better offer is made
Bids cannot be removed, the amount is locked
Auctions can be cancelled in two cases:
Within 2 hours of their start, in all cases
At any point, if there are no bids
The reserve price of an auction can be changed if there are no bids
A bid placed within 5 minutes of an auction ending increases the auction time by 5 more minutes

NFT Marketplace - Previous

Trading NFTs

Royalties

Last modified 8mo ago

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Contents

Direct Sales

Auctions