When you place a bid on an NFT, you essentially transfer funds to an escrow account, where those funds remain until either you cancel the bid or the owner of the NFT accepts it.
So let's say you bid on an NFT for 1 SOL. Your wallet will be depleted for those funds and they will be transferred to the escrow account created for your bid. If the owner of the NFT accepts the bid, they'll receive the 1 SOL and you'll receive the NFT. Alternately, if you cancel the bid, the account will close and the 1 SOL will be transferred back to your wallet.
If you’re in a hurry, you can place a bid directly on an NFT card, on the Explore NFTs page. Simply click on the “Bid” button, enter the price you want to bid and confirm the transaction that will pop up.
Alternatively, there’s a button “Place a bid” on a single NFT page with the same function.
The owner of the NFT can choose to accept your bid at any time, as long as it remains an option. You can choose to withdraw your bid by clicking “Cancel bid” in your wallet or on the NFT’s page whenever you want.
Make sure you have turned on notifications so you can get an email if the owner of the NFT accepts your bid.
When you place a bid on an NFT, make sure to click the “⟳ Reload” button in your wallet to sync the data.
No, even if you place a bid on an NFT that is listed for the same price as your bid, you will not automatically get the NFT. The seller still has to accept your bid.
If you have already placed a bid on an NFT, you can either cancel it and place a new bid with a different price, or you can simply add a new bid. However, keep in mind that every bid you place transfers funds from your wallet to an escrow account and those funds are only returned to your wallet if you cancel the bids.
If you place a bid on an NFT owner by person A and person B ends up buying it, the bid you placed stays on that NFT. The new owner of the NFT, person B, may still accept your bid or you may cancel it.
Assuming your wallet is already connected to SolSea, open your slide-in wallet by clicking on the "Wallet" button in the top right corner. Navigate to the "Received bids" section in the drop-down menu inside your wallet.
Then select "Accept" and approve the transaction that pops up. Congrats! You've just sold an NFT!