Ronin Market - Direct Offers

The Offer feature enables users to submit offers for NFTs in the Ronin Market. This feature increases liquidity for sellers and gives buyers the ability to place bids on NFTs they want to buy. Owners of an NFT can decide whether to accept or just leave offers – if they accept, they will pay the gas fees required from the sale and turn over the asset to the bidder.

Ronin Market provides two types of offers for buying NFTs efficiently: Direct Offers and Collection Offers/Trait Offers. This guide covers Direct Offers, explaining how to create, manage, and fulfill them.

 

Understanding Offers

Before we go into the steps of creating your first bid, we'll first break down some of the important aspects of the Offer Status to better understand how it works in the Ronin Market.

 

What is WRON

WRON is a special token on Ronin used for placing bids on the Ronin Market. While 1 WRON = 1 RON, only WRON can be used to make offers. Users can easily convert RON to WRON directly within Ronin Market, which is explained below.

 

How to Wrap/Unwrap Your RON Tokens

Automatic Wrapping

While you have the option to manually wrap your RON, you can do an automatic exact swap on the offer page whenever you try to create a direct offer and have enough RON to cover the offer.

 

Manual Wrapping/Unwrapping

If you choose to manually wrap your RON, there are three options to wrap our RON tokens to WRON, and vice versa.

Option 1: Access the RON wrapper page within the Ronin Market by going to this url: https://marketplace.skymavis.com/ron-wrapper. 

Option 2: In the Ronin Market site, you may also just click on your display name & icon at the top right header and select Wrap/Unwrap RON.

Input the amount of RON you wish to wrap then click on Confirm swap. It will then direct you to your Ronin Wallet / Waypoint to sign the transaction. A successful prompt will show after a few seconds once your tokens have been successfully wrapped.

Option 3: Another alternative to directly swap your RON or any other ERC20 tokens to WRON is by using Katana swap. Learn more on how to use Katana by clicking this guide.

 

 

Validity of Offers

There are two statuses of offers on Ronin Market: Active and Inactive.

Active / Open Offers

• An offer becomes active after a user with sufficient funds makes the offer, but the seller has not yet responded. The seller will be notified of the bid and can choose to accept or ignore. Once accepted, the offered amount will be deducted from buyers’ offer balance.
• It’s possible that a single NFT has multiple active direct offers. If a seller accepts one active offer, ownership of the NFT will transfer to its new owner – i.e. the rightful buyer. In this case, the other valid direct offers will remain on the NFT and the new owner will see them in their Offers Received tab.

Inactive Offers

• An offer becomes inactive when the user who made it has insufficient funds in their wallet. A user can refill their WRON balance to make that offer active again.
• An offer also becomes inactive if it expires. In this case, it will be automatically removed from the list of offers sent and received.

 

Limits & Restrictions

We have a few restrictions on the Offer feature:

• Users can make direct offers on any NFT on Ronin Market except locked NFTs.
  
  Here’s an example of a locked NFT with a Locked symbol beside it
  
  
• There is a maximum of 100 active direct offers per user. When a user reaches 100 offers, they’ll see the following message after clicking the "Make Offer" button.
  

 

Direct Offers

A Direct Offer allows users to place an offer on a specific NFT. This method is ideal for buyers targeting a particular asset they wish to acquire.

 

How to Create a Direct Offers

Step 1: Navigate to the NFT Page

• Look for your desired NFT and open the details page on Ronin Market.
  
• Click the Make Offer button to proceed with your bid.
  
  

Step 2: Enter Offer Details

• In the Make Offer dialog box, you will be able set a couple things:

• • • Offer Price in WRON – The amount you’re willing to pay.
      • You'll see offer suggestions based on the floor price of the collection and listing price of the NFT.
    • Offer Duration – day options include 1, 3, 7, 14, and 30. This will determine how long your bid will remain active.
      
      
• If you don't have enough WRON but have enough RON, you can automatically swap the exact amount of RON to WRON for the offer on the same page.
  
  

Step 3: Confirm the Offer

• Review your details and click Confirm – a confirmation message will appear in your Ronin Wallet/Waypoint account to sign a transaction and finalize.
• A success message will then show once you have completed the offer.
  

How to Find & Manage Your Direct Offers

First, click on your display name in the top right corner of the interface to go to My Profile. Then, go to the Offers tab to see your offers.

Under the Made Offers menu, you will be able to see all the offers you created. You may activate filters to display only the Active, Inactive, or specific collections.

You may click on an offer to review the NFT details or directly cancel it within the page.

Canceling an Offer

It's important to note that offers will not automatically cancel if an NFT is sold or
transferred. Offers will continue to be active until they expire. The new NFT owner
will receive these offers. In short, NFT ownership may change,
but valid offers are retained.

 

How to Accept a Direct Offer

Step 1: Navigate to the Received Offers Page

To view direct offers on your NFTs, navigate to My Profile by clicking your display name at the top right of the interface. Go to Offers and then select the Received menu.

Step 2: Accept the Offer

In the Received offers page, click on the item in the filtered assets to check all other offers made on your NFT and select one which you wish to accept.

Alternatively, you may simply click on the Accept highest offer button within the Received offers page to instantly go to the confirmation page.

If an offer has a low offer price, you will need to toggle that you understand and still accept the offer.

Step 3: Complete the Transaction

Finally, you will be prompted to complete the transaction in your Ronin Wallet / Waypoint. The page will show a complete prompt once you have successfully sold your asset.

 

Offer Settings

Email Notifications

By default, users will receive email notifications for every offer accepted by others and for offers they receive from others. To manage these notifications, go to Settings and edit your email preferences. You can choose to receive notifications for accepted offers and adjust your settings for receiving offers.

Minimum Offer Threshold

You can also customize your preferences for receiving offers above the minimum threshold and set WRON thresholds for different collections.