A new class of NFT Exchange
NFT collectors have been asking for a way to 'bid 1 ETH for any Mooncat' or 'bid 20 ETH for any Cryptopunk’.
Now, a new type of exchange 'BuyTheFloor.com' let’s buyers make these types of bids for NFTs! Better still, bidders do not need to pay any gas to bid (besides 1-time approve.) The bids are performed using offchain Signatures so you can make as many bids as you want for free!
When an owner of an NFT sees a bid that they like, they simply sell their NFT to the bid using the unique signature data using an on-chain transaction. Sellers pay the gas at the same time they receive funds. This also means that NFTs can be immediately sold for profit without having to wait for a 'buyout’.
All bids are 'blanket bids' meaning that tokenID is never specified. This improves liquidity and ensures that sellers always have a bid that can fulfill their assets!
Read the docs here: https://docs.buythefloor.com
You can play around with BuyTheFloor on Goerli testnet until you are ready to use it on mainnet!
BuyTheFloor was deployed to Mainnet on March 21 2021.