Bidding on NFTs

Learn how to bid on NFTs with your Squad.
Due to the limitations of OpenSea's smart contract you can only bid on NFTs in wETH on the OpenSea Marketplace. OpenSea's Wyvern 2.3 smart contract has a legacy issue is not compatible with smart contract wallets such as Gnosis (Lore) and Argent. Collaborations are currently underway to enable ETH listings in the future.

Proposing a Bid

Here's how to propose an NFT for your Squad to bid on:
  1. 1.
    Navigate to the homepage of your Squad
  2. 2.
    Press the "Add Proposal" button, located next to "Active Proposals"
  3. 3.
    Select "Bid on NFT"
  4. 4.
    Paste in a OpenSea link to the NFT you would like your Squad to bid on
  5. 5.
    Set the bid price in the desired currency you would like to place the bid for, as well as the duration of the bid. For duration, you can pick from a few options: 1 day, 3 days, 7 days, 1 month and 3 months.
  6. 6.
    Click "Next"
  7. 7.
    Confirm the details of your NFT bid proposal, and if everything looks good, hit "Propose"
  8. 8.
    Sign the one-time key
  9. 9.
    You've successfully proposed an NFT for your Squad to bid on!
Note: The duration of the bid starts once you vote on a bid proposal, and will expire at the end of the period.

Approving your Bid Proposal

After proposing an NFT for your Squad to bid on, a proposal page for initializing your Squad will automatically be created for the NFT—your Squad needs to be initialized before bidding on OpenSea. Click on "Share Proposal" to share it with your Squad members to approve. In order to delete the proposal, click on the three dots next to "Share Proposal" and hit "Delete."
Here's how to approve a bid proposal:
  1. 1.
    Navigate to the NFT proposal page
  2. 2.
    Click the "Approve" button
  3. 3.
    Sign the Prysm one-time key
  4. 4.
    You've successfully approved the NFT bid proposal!
Please note that to approve the initialization of the Squad before bidding on OpenSea, you must get approval from the amount of signers you decided on when creating a Squad. To learn more, visit this page.
Once all the signers have approved the sell proposal, the proposal page status will change to "Execute"—you can now bid on an NFT with your Squad!
Here's how to finalize a bid:
  1. 1.
    Navigate to the NFT proposal page
  2. 2.
    The proposal page status will change to "Execute, click "Bid on OpenSea"
  3. 3.
    Follow the steps in the "Complete your bid" window and confirm the bid details are correct
  4. 4.
    You've successfully placed a bid with your Squad on OpenSea!

Bidding FAQs

Why is there a deadline for my Bid Proposal?

Due to a limitation on the OpenSea APIs, bids have to be executed within an hour of them being proposed, or else they will be rejected by OpenSea's system. Therefore, if an item is listed using Lore's "immediately" function and completed within an hour, it will be listed as soon as the squad executes the proposal. This limitation is an open issue that we have reported to OpenSea.
Alternatively, if the squad needs more than an hour to collection all signatures, you can choose to propose the order and execute it at some point in the future by selecting the other choices of 3 hours and 12 hours.