Ronin Network Debuts the "Make Offer" Feature on Mavis Market
Traders can now bid on NFT listings on Mavis Market, which owners can accept or decline as they see fit.
Mavis Market, a leading NFT marketplace on the Ronin Network, has unveiled its latest feature: "Make Offer." In a move designed to offer more flexibility to its users, traders can now bid on NFT listings, giving owners the power to accept or decline as they see fit.
So, how does this feature work? And what do users need to be aware of?
The WRON Currency
Firstly, it's crucial to understand the WRON or Wrapped RON currency. For each WRON, there's a corresponding RON. However, WRON is technically more suitable for use on Mavis Market. To make an offer, users have to exchange their RON for WRON. This can be done on the Mavis Market platform by logging in, selecting the "Swap RON/WRON" option, and entering the desired amount.
While users can check their WRON balance via Ronin Wallet, the swap feature is exclusively available on Mavis Market.
How to Bid on Mavis Market
To make an offer, follow these steps:
- Ensure you have enough RON in your wallet.
- Go to Mavis Market, link your Ronin wallet, and exchange it for WRON.
- Locate the desired NFT.
- Select "Make Offer."
- Input your offer details, such as price and duration.
However, if your WRON balance drops below your offer, it becomes invalid. Always check your balance before making any withdrawals.
How to Respond to Offers
When you receive an offer:
- Navigate to "My Profile" on Mavis Market.
- Select "Offers" and then "Offers Received."
- Choose the offer you'd like to accept.
Notably, creators have the discretion to set royalty fees, which get applied to the final sale price. Mavis Market charges a 2% fee for every sale, while the Ronin Treasury claims 0.5%.
Understanding Offer Types
- Valid Offer: A genuine offer that can be accepted or declined. If a valid offer is accepted, the NFT ownership, as well as any subsequent offers, will be transferred to the new owner.
- Invalid Offer: Offers that aren't valid due to inadequate WRON balance or expiry.
Mavis Market also ensures that you never miss out on a deal. Activate email notifications in the settings, customize your preferences, and get notified whenever there's an offer. Soon, users will also see the offer-maker's Ronin Name Service (RNS) name.