Acquiring an NFT through auction isn’t difficult. Bidding in an NFT auction is easily done on Sphere by using your preferred web3 wallet.
On Sphere, an NFT auction is the same as a regular auction; the highest bidder wins the right to purchase the NFT.
The steps below explain how to go about bidding on Sphere.
Step 1: Connect your wallet (e.g. MetaMask)
On your first visit to the Sphere marketplace, you will have to connect your wallet to the marketplace. This can be done by clicking the ‘Sign-in’ button in the upper right corner. A prompt listing all available connection options will appear. Choose the one you wish to use. Your wallet will prompt you for authorization to interact with the website. Grant permission, and you're on your way to making your offer.
Step 2: Make an offer
Now that you have connected your wallet, it’s time to find the NFT you wish to bid on. This can be done through the search function.
Once you have found your preferred NFT, you can place an offer by clicking the "Make offer" button.
Step 3: Enter your offer details
After clicking the "Make offer" button, you will be prompted to enter your offer details. This will include the price you are willing to pay, in what currency, and the expiration date. Once you are done entering the details of your offer, click "Make an Offer".
Other things to note on the popup screen are creator royalties, highest offer, and list price (if the owner of the NFT has listed the NFT already)
Step 4: Confirm the transaction in your wallet:
When you place an offer, you have to confirm the transaction using MetaMask. Please note that the bid price shown excludes gas fees. The gas fee will be known upon confirming the transaction in your MetaMask wallet.
Step 5: Acceptance
Once you have successfully placed an offer for an NFT, the next step is to wait for the NFT owner to accept your offer. If the seller accepts your offer, the sale automatically occurs. Your payment will be sent to the seller, and you will receive ownership of the NFT. If not, the offer will expire.