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NFT

Offers FAQ

Offers are suggested purchase prices placed by the collectors on an NFT. 

Offers can be:

  • Placed on both listed and unlisted NFTs

  • Increased or canceled by collectors

Offers are placed with wETH instead of ETH. Offers may also remain pending, whereas selecting 'Buy Now' on a listed NFT initiates an immediate transaction. You can place an offer by selecting your preferred NFT and submitting your suggested purchase price. 

Why was my offer unsuccessful?

Offers may be unsuccessful when:

  • The NFT has already sold. In this case, funds will be returned to your wallet, but gas fees will still apply.

  • The owner did not respond to your offer before the expiration date.

  • You do not have enough ETH to cover gas fees.

How can I edit or cancel an offer?

Once your offer has been submitted, you have the option to edit your offer from the offers list or directly from the token. You can increase the offer amount or cancel the offer entirely. 

To increase the offer, you may need to pay gas fees to complete the transaction. You will also need to pay gas fees to cancel your offer.

Offers will remain pending until its expiration date or another offer is accepted.

Do gas fees apply to offers?

As a collector, you may need to pay gas fees when initially approving wETH transactions or when placing an offer. Gas fees may also apply when editing your offer, including canceling the offer before its expiration date. 

Gas fees may be higher than expected due to current volumes and the demand for miners to confirm a transaction. As network transaction volume decreases, so does the required fee.

What do I need in my wallet to make an offer?

When making an offer, you will need to ensure that you have two types of crypto in your wallet: wETH and ETH. Please note that Coinbase NFT only supports transactions on Ethereum with NFTs built using Ethereum's ERC 721 and 1155 token standards.

You can convert the coins you currently have in your wallet to ETH to complete your purchase. Please note that there may be conversion fees associated with this action. Alternatively, you can also purchase more ETH via your wallet provider.

If you have a Coinbase account, you can purchase ETH or convert supported cryptocurrencies into ETH through your account. For more information, visit our Convert cryptocurrency FAQ.

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