Accepting an Offer

Accepting an Offer from Notifications

NFT holders can enable notifications to make accepting an offer easier. They can do this by connecting their wallet and inputting their email address or telegram handle. Once notifications are set up, holders will be notified when offers are made on any NFT in their wallet.

When a holder sees an offer they want to accept, they will be taken to the option mint page where they can mint and consequently sell the option to the offerer. In return, they will receive an upfront premium.

Accepting an Offer from Hook

If an NFT holder has not set up notifications or wants to accept an outstanding offer, they have two options.

The holder can go to the 'Profile' tab on Hook, and then select the "Options' tab below the header. The holder can then go to one of their option's detail pages and click on 'Offer' to see the highest offer available to take.
The holder can go to the 'Options' tab, select the collection that corresponds to the option's underlying NFT, and then go to the 'All Options' tab on the right side of the screen. From here, the holder can scroll down to their option and click 'Accept Offer'.

Again, accepting an offer or writing a call option means that in return for receiving an upfront premium, Hook will automatically make an uncancellable listing for the NFT at a minimum price (strike price) at a specific time (expiration date) in the future. If the NFT does not reach the minimum price, it will be returned to the holder. If it meets or exceeds the minimum price, the NFT will be sold to the highest bidder. The holder still receives the minimum price, but no additional upside from the sale. Through Hook, traders can purchase options if they believe the NFT's future value will rise beyond a specific price at a future date.