Making collection offers
Standing Collection Offers (SCOs) on NFTfi allow lenders to target entire collections of NFTs rather than individual assets. This feature enables lenders to make loan offers for any currently listed NFT or future-listed NFT within a specific collection.
Standing collection offers remain valid until:
- they expire,
- the wallet runs out of money, or
- the lender revokes the offer.
This allows lenders to run collection-wide lending strategies with minimal overhead.
It's essential to understand the scope of the SCOs and the associated risks, such as automatic bidding on all collections of a particular smart contract, which may include subcollections, assets with different collateral values, or flagged assets on OpenSea.
- 2.Click on the desired collection, and you will be redirected to the collection page.
- 3.Once on the collection page, you can make a collection offer by selecting loan terms on the right, just like you would with an individual loan offer.
- 4.With collection offers, you can set an offer expiration date if desired but can leave them open-ended too.
- 5.Once satisfied with the loan terms, click the 'Make offer' button.
- 6.Sign in your wallet. You may also need to give permissions for NFTfi to access your WETH.
- 7.Your collection offer is now live. If an asset from that particular collection becomes available under your loan terms, the borrower can initiate a loan.
Once again, understanding the scope of the SCO is crucial, as it automatically bids on all collections of a particular smart contract, potentially leading to unintended loan offers.