How do I make an offer on an NFT in the Marketplace?
You can make an offer on a Mapstone NFT whether or not it is currently listed for sale. If the NFT has a Buy Now price, you can either purchase it at the listed price or submit a different WETH offer for the owner to consider.
How to make an offer
- Connect your wallet and visit the Mapstone Marketplace.
- Select the NFT you want and click Make Offer.
- Enter your offer price in Wrapped Ether (WETH).
- Select an offer duration of 1 day, 3 days, 7 days, 1 month, or choose a custom expiration date and time.
- Review the details and click Make Offer.
- Follow the prompts in your wallet. If your current WETH spending approval is lower than the offer amount, you will first be asked to approve a higher spending limit. You will then be asked to sign the offer.
Why offers use WETH
Mapstone offers use WETH so an owner can accept an active offer later without requiring you to return and approve the purchase at that moment. ETH and WETH have a 1:1 conversion ratio.
If you need WETH, select Get more WETH in the offer window to wrap ETH directly through your wallet. Wrapping ETH and approving WETH are on-chain transactions and require enough ETH to pay the applicable network gas fees.
For complete instructions, see What is Wrapped Ether (WETH), and how do I use it to make offers?
What happens after you submit an offer
Your offer remains active until the owner accepts it, you cancel it, or it expires. The WETH is not placed in escrow, so your wallet must continue to hold enough WETH and maintain sufficient Marketplace approval for the owner to accept the offer successfully.
If the owner accepts your offer, the WETH is transferred according to the Mapstone Marketplace allocation system and the NFT is transferred to your wallet. You can review your active and previous offers under Offers Made in the My NFT Collection section of your Account Dashboard.
How to cancel an active offer
- Connect the wallet that submitted the offer.
- Open My NFT Collection and select the Offers Made tab.
- Find the active offer and select View on Marketplace to open the NFT’s Marketplace page.
- Scroll to the offers table and locate your offer.
- Click Cancel Offer.
- Review the offer information and click Confirm Cancellation.
- Confirm the cancellation transaction in your wallet. An Ethereum network gas fee will apply.
Once the cancellation is confirmed on-chain, the NFT owner can no longer accept that offer. Cancelling an offer does not convert your WETH back to ETH or remove your existing WETH spending approval.
If you want to convert unused WETH back to ETH, follow the unwrapping instructions in What is Wrapped Ether (WETH), and how do I use it to make offers?
