Save on Gas Fees Using the Order Book Feature | Full Guide

How it works and how it can benefit both Creators and Collectors, avoiding gas fees

What is Galler’s Order Book feature?

Galler’s NFT Order Book is a list of buy and sell orders for NFTs within a single collection, organised by price level.

These lists help improve market transparency as the order book provides information on price, availability, depth of trade, and who initiates transactions. The order book gives full visibility of supply and demand, and the gap between the two.

Each collection on Galler has its own Order Book on the right hand side of its collection page (assuming the owner who imported the collection has activated the Order Book feature).

How does the Order Book feature work?

On the seller side

Owners of NFTs can list their NFTs for sale at their desired price. The listings will automatically appear on the Order Book of the respective collection.

On the collector side

Collectors can browse the listings from the seller side and buy from those. In these cases, collectors know exactly which NFT from that collection they will purchase, since the token ID of the item appears on each listing.

Token ID of each listing on the supply side. Collectors know which items they’ll be purchasing and can access the item’s page directly by clicking on the ID.

Collectors can also make an “Offer for Collection”, which is a bid to buy any item within that collection. In these cases, collectors don’t know which exact NFT they will receive if their bids is accepted. Owners of NFTs in that collection get to choose which NFT to sell if they decide to accept the bid for collection.

Collection owner accepting a bid for collection and choosing which NFT in their possession they will be selling to complete this bid.

For an even deeper understand of the order book feature, take a look at this product demo from a recent twitter post!

About Galler

Galler’s vision is to become the most used NFT marketplace across all blockchains. The team aims to do it by focusing on giving users a unique NFT experience by making it fun, easy and, most importantly, rewarding.

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