Users can place a bid on an ongoing NFT auction. In other words, users must bid on an NFT for a higher price than the offers previously made by other users. Simply placing a bid on an NFT in an auction does not 100% guarantee that you will successfully purchase the NFT. If your bid is deemed the highest offer by the end of the timed auction, that NFT will then truly be yours to call your own.
If you really want that auctioned NFT, make sure to check the auction frequently to make sure your bid remains the highest. Remember: lower the price, higher the demand!
Did you see an auctioned NFT you like? Want to check what’s currently being auctioned? Follow the steps below to explore and place a bid.
How to Place a Bid in an NFT Auction
Visit Collections located on the menu bar, then click In Auction
2. To place a bid, click Make Offer
3. Choose a payment token, then type in the amount. Click Make Offer to proceed.
The offer price needs to be higher than the offers previously made by other users
Placing a bid on an NFT on the Ethereum Network specifically requires you to place a bid using WETH.
If you make an offer with a token that you haven’t used before, like WETH, you need to pay a one-time gas fee.