Swap NFT Trade
The Swap NFT (Non-Fungible Tokens) trading feature is a unique function within the Gafi marketplace that allows two parties to exchange NFTs.
Creating a Swap:
The process of initiating a swap NFT trade involves several steps:
Reserve NFTs: The first step in initiating a swap involves reserving the NFTs that one party wishes to exchange. This reservation process ensures that the NFTs are secured and cannot be traded elsewhere during the swap process.
Set Asking Price: The party who initiates the swap can set an asking price. This price represents the value at which they are willing to part with their NFT.
Define Start and Duration: The swap trading process can be scheduled to start within a specific block of time and remain active for a predetermined number of blocks within the Gafi platform.
Executing a Swap:
Completing a swap NFT trade within the Gafi marketplace involves the following steps:
Provide Required NFT and Bid: To successfully complete a swap, a participant must own the NFT they wish to trade and offer a bid. The bid is the digital asset or value that they propose in exchange for the NFT they desire.
Meet or Exceed Bid Amount: The bid must be equal to or exceed the asking price set by the party who initiated the swap. This requirement ensures that the swap maintains a fair value proposition for both parties involved in the trade.
In summary, the Swap NFT trading feature in the Gafi marketplace provides a secure and fair platform for users to exchange their NFTs. It ensures that both parties receive value commensurate with their offerings, fostering a balanced and equitable trading environment.
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