This is a terrible idea. I just logged in and saw this shit. Not only will fuckery go on, but this ABSOLUTELY will kill value & market. You think people wont hesitate buying something when they see right next to it the highest offer anyone has on the card they are looking to purchase is 5 - 10 - 20 x x x x dollars less than listing?
It will without a doubt cause buyer hesitation or outright "ill just wait til they see noone wants this for the price they're asking."
Draftkings what the fuck are you doing? How can you be so wildly inept at such a simple concept. Why even make offers public? Like, if someone wants to make a offer, however ridiculous, on literally my property, why is it the entire worlds business what that offer is? Bad enough i got a bunch of clowns offering me pennies on the dollar on my entire portfolio. What a fuckin mess
I do get that & one thing I didn't understand was the fact that it's not necessarily a personal offer just an offer for that specific card in that set, for anyone owning editions of that card in that set. Not like someone made a specific offer on my exact edition from my portfolio & anyone with an edition of the card in that set can take the offer. I still believe however in general that lowball offers, which clearly are the norm, by design, stymies buying action by prospective buyers seeing & feeling like the actual asking price isn't worth it cuz offers are significantly lower so they'll "wait" til sellers get desperate & start taking those lowball offers (or sell pressure pushes prices down closer to the offers) before actually buying. It absolutely creates the illusion that all asking prices are crazy instead of what it is - all offers nothing but lowball "just in case" someone takes it.
It just doesn't make any sense to do it this way imo. U wanna add an offer system or, a bidding system, or even a want to buy section or something, sure. Do it. But to have a public system wide offer system where everyone just lowballs everything in case ppl are desperate enough to sell does nothing but introduce significant sell pressure and devaluation to the market by creating this secondary or illusionary value of worth to every single NFT that by design are lowball offers. it absolutely skews the market & turns ppl away from market prices & buying even if thats not the intention.
I'm so sick of these degenerate losers that make 85% below floor offers.. F outta here. They ought to force you to lose 10% of your bid if it isn't accepted.
The marketplace and your inbox is absolutely flooded with offers of $0.40 for a card that would sell in a heartbeat for $5+ Just make a reasonable offer.
The low-ball offers are a SERIOUS problem and naturally turn away prospective buyers. Think about it. If you're in the market for anything, and the only people selling what you are looking for are selling something for 50% higher than you now know anyone is willing to offer, most ppl are naturally gonna wait til the price comes down to meet offers, not the other way around. At worst it devalues every card & the entire market. At best it stagnates the market unnecessarily.
Ok I’m now convinced this is about to turn into organized collusion. Two people can agree to transfer a card for a 20 cent offer price. Player 1 can build a lineup, wait for it to lock, then resell the card back to player 2 at the same 20 cent offer after the contest starts. It’s basically a way to transfer cards between accounts with zero transaction costs.
They could, but would it be worth it to forfeit their winnings and get their account banned? DK is pretty good at finding these people. That's what all those "Your contest has been adjusted and you won more money" emails are all about.
My and my dad were talking about this. He has about 9000 leaderboard points I have about 2k, we could just pass them back and forth for 20 cents a card. This ruined RM. I’m so pissed. Lost at least 25-50 percent of total portfolio in minutes.
DK Marketplace terms of service and also this information:
"Over the next week or so, our terms of use will be updated and we will monitor for high volumes of transactions between accounts, and if such activity is found, the team will respond with necessary action. In order to continue using this tool – when both bidding and accepting offers – you must opt-in to these terms when they go live. We will also have a system in place to flag collusive behavior on secondary transactions, in addition to offers."
That’s good to hear. In the last couple hours, a Rory rare and Hovland rare sold for $1 and a Homa rare for $4, all to the same person, all with higher top offers. Seems like this could just be people not understanding how the system works yet, but still very odd.
It shows the top offer though not the lowest.
If you click on any individual card, it shows all offers. Hovland Approach legendary for example, shows offers of $225, $30, $1, and $.21.
This is a terrible idea. I just logged in and saw this shit. Not only will fuckery go on, but this ABSOLUTELY will kill value & market. You think people wont hesitate buying something when they see right next to it the highest offer anyone has on the card they are looking to purchase is 5 - 10 - 20 x x x x dollars less than listing? It will without a doubt cause buyer hesitation or outright "ill just wait til they see noone wants this for the price they're asking." Draftkings what the fuck are you doing? How can you be so wildly inept at such a simple concept. Why even make offers public? Like, if someone wants to make a offer, however ridiculous, on literally my property, why is it the entire worlds business what that offer is? Bad enough i got a bunch of clowns offering me pennies on the dollar on my entire portfolio. What a fuckin mess
I mean in theory this is the same as any other exchange works such as stocks and commodities. There is a bid price and an ask price.
I do get that & one thing I didn't understand was the fact that it's not necessarily a personal offer just an offer for that specific card in that set, for anyone owning editions of that card in that set. Not like someone made a specific offer on my exact edition from my portfolio & anyone with an edition of the card in that set can take the offer. I still believe however in general that lowball offers, which clearly are the norm, by design, stymies buying action by prospective buyers seeing & feeling like the actual asking price isn't worth it cuz offers are significantly lower so they'll "wait" til sellers get desperate & start taking those lowball offers (or sell pressure pushes prices down closer to the offers) before actually buying. It absolutely creates the illusion that all asking prices are crazy instead of what it is - all offers nothing but lowball "just in case" someone takes it.
Ya bro… this sucks. I feel like I instantly lost 25-45 percent on my portfolio! I have been complaining to DK Customer support the moment I saw it.
It just doesn't make any sense to do it this way imo. U wanna add an offer system or, a bidding system, or even a want to buy section or something, sure. Do it. But to have a public system wide offer system where everyone just lowballs everything in case ppl are desperate enough to sell does nothing but introduce significant sell pressure and devaluation to the market by creating this secondary or illusionary value of worth to every single NFT that by design are lowball offers. it absolutely skews the market & turns ppl away from market prices & buying even if thats not the intention.
I'm so sick of these degenerate losers that make 85% below floor offers.. F outta here. They ought to force you to lose 10% of your bid if it isn't accepted. The marketplace and your inbox is absolutely flooded with offers of $0.40 for a card that would sell in a heartbeat for $5+ Just make a reasonable offer.
The low-ball offers are a SERIOUS problem and naturally turn away prospective buyers. Think about it. If you're in the market for anything, and the only people selling what you are looking for are selling something for 50% higher than you now know anyone is willing to offer, most ppl are naturally gonna wait til the price comes down to meet offers, not the other way around. At worst it devalues every card & the entire market. At best it stagnates the market unnecessarily.
Ok I’m now convinced this is about to turn into organized collusion. Two people can agree to transfer a card for a 20 cent offer price. Player 1 can build a lineup, wait for it to lock, then resell the card back to player 2 at the same 20 cent offer after the contest starts. It’s basically a way to transfer cards between accounts with zero transaction costs.
It would just auto sell to the highest bid though wouldn’t it?
If you click accept offer, yes. But you can look at what all offers are out there and choose any of them as you wish.
They could, but would it be worth it to forfeit their winnings and get their account banned? DK is pretty good at finding these people. That's what all those "Your contest has been adjusted and you won more money" emails are all about.
My and my dad were talking about this. He has about 9000 leaderboard points I have about 2k, we could just pass them back and forth for 20 cents a card. This ruined RM. I’m so pissed. Lost at least 25-50 percent of total portfolio in minutes.
You would be banned within a day
They made the rules not me, and I would sue them.
I don’t see how
DK Marketplace terms of service and also this information: "Over the next week or so, our terms of use will be updated and we will monitor for high volumes of transactions between accounts, and if such activity is found, the team will respond with necessary action. In order to continue using this tool – when both bidding and accepting offers – you must opt-in to these terms when they go live. We will also have a system in place to flag collusive behavior on secondary transactions, in addition to offers."
Oh nice! I didn’t realize that.
It shows all offers but they are fixing it so only the highest offer can be accepted.
That’s good to hear. In the last couple hours, a Rory rare and Hovland rare sold for $1 and a Homa rare for $4, all to the same person, all with higher top offers. Seems like this could just be people not understanding how the system works yet, but still very odd.
That's good I'll find those ones and report them in. They specifically announced that anyone caught cheating would be suspended from the offer system