Dutch Auction

For NFTs sold in dutch auction, the NFT buyer can perform the following actions.

  • Place a Bid

  • Cancel Bid

How to place a bid to buy NFTs in dutch auction

Prerequisite: Connect your crypto wallet to PlaNFT. (Refer to crypto wallet.)

Step 1: Find the NFT you want to bid on PlaNFT as shown below and click Place a Bid.

Step 2: Enter the token value and click Bid.

You may need to perform the following actions.

  1. If your crypto wallet does not have a chain corresponding to NFT, click approve to add the chain you need.

  2. If you want to switch to the chain that NFT is on, you will be warned that please switch to a wallet that supports Polygon/BNB/Ethereum network! Click switch to switch, and in the popup window click switch network to switch to the chain you want.

  3. If you are using ERC20 token for the first time for make offer, you will need to click Confirm to authorize ERC20 to the PlaNFT trading contract, but for native token, this step is not required.

Step 3: Click Sign to confirm the transaction. The final auction takes the n orders with the lowest price as the tradable buy orders. n is the number of NFTs in this dutch auction, the deal price is the lowest price among the n orders, just wait for the NFT owner to make a deal. The wallet needs to have enough tokens while making a deal.

Step 4: Optional, you can cancel the offer in any of the following ways.

  • Click Cancel Offer.

  • Select Listings & Offers>Offers, click Cancel.

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