Hook now sends notifications when offers are made on NFTs in your wallet. Holders can choose to be notified via email or telegram.
We’ve also added support for making offers on any NFT in a holder’s wallet - not just the ones that are already deposited into Hook. NFT holders will now be able to access more option writing opportunities without needing to spend gas to mint an option first. As a result, option buyers can now make offers on NFT collections that are more likely to be filled.
Increased Visibility for Offers
Notifications simplify the transacting process for both options buyers and sellers. NFT holders no longer need to frequently check Hook to know when they could fill an offer. Given how fast the NFT space moves with daily drops, price fluctuations, etc., it's much more user-friendly to use notifications.
While notifications create a better user experience for option writers, they also create a better experience for offerers. Since the likelihood that a potential seller will see an offer has increased, offerers are better off making them now.
How to Make Offers
The process to create an offer remains the same as before. Option buyers can head to the options tab and select an NFT collection. They can then either make a collection-wide offer or an offer on a specific NFT. Once an offer is made, Hook will send a notification to the NFT holder, who can accept it in just a few clicks.
Setting up Notifications and Accepting Offers
Prior to accepting an offer, NFT holders will have to enable notifications. 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 asset 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.
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.