Retail NFT Trades

A Comprehensive Overview

Retail Non-Fungible Token (NFT) trades refer to the individual buying and selling of NFTs, as opposed to wholesale trades, which involve bulk transactions. Retail trades provide convenience and flexibility, with the price referring to the unit cost of each NFT. There are four primary types of retail NFT trades:

I. Set Price Trade

Set Price Trade involves offering a fixed unit price for a specific number of NFTs within a collection. To initiate this trade, a predetermined quantity of NFTs must be reserved. This trade can be activated during a specific block and within a designated timeframe. If the available NFTs run out, additional units can be added to the trade.

II. Buy Item Trade

Buy Item Trade allows users to purchase a specific number of NFTs from the Set Price Trade by placing bids. To ensure fairness, the bid price must be equal to or higher than the unit price. This mechanism ensures a secure and equitable transaction.

III. Set Order Trade

In a Set Order Trade, users can place an order to purchase a defined number of NFTs from a collection at a specified bid price. To create this trade, an amount equal to the product of the unit price and the desired quantity of NFTs must be reserved. Like other trades, the Set Order Trade can be activated during a specific block and timeframe. If the available orders run out, additional ones can be added.

IV. Sell Item Trade

Sell Item Trade enables users to sell a specified number of NFTs to the Set Order Trade by setting an ask price. This ask price must be equal to or lower than the bid price specified in the Set Order Trade, ensuring transparency and alignment with market dynamics.

Please note that each trade requires a small deposit. All trades can be canceled at any time, resulting in the release of reserved (locked) assets. This overview provides a comprehensive understanding of retail NFT trades, enabling users to navigate the marketplace effectively.