NFT Orderbook

The NFT marketplace faces challenges, such as sellers being uncertain about the optimal price for their offerings and the absence of alternative channels for buyers and sellers to transact. These issues have prompted the development of the NFT orderbook by CrestsX, a platform that enables the trading of NFTs in a more effective and transparent manner.

The NFT orderbook functions in a manner similar to a spot orderbook, except that it facilitates the trading of NFTs rather than physical tokens. In this NFT orderbook, buyers and sellers can enter bids and offers for specific NFTs, specifying the price they are willing to pay or receive. The orderbook then matches these bids and offers based on price, ensuring that trades in the NFTs market are transparent and efficient. Despite the absence of interested buyers, a seller retains the ability to list an offer order for their NFT on the orderbook. Similarly, even if no sellers actively provide the NFT, a prospective buyer can place a bid order on the market.

By using an NFT orderbook, market participants can quickly and conveniently trade NFTs with each other. The orderbook allows buyers and sellers to have a clear view of market activity and to set bids and offers accordingly. The matching process of the orderbook ensures that trades are executed in a fair and orderly manner while also providing liquidity to the market. Overall, the NFT orderbook plays a vital role in facilitating a transparent and efficient market for NFTs.

NFT orderbook Diagram