Question 1

What are NFT Bids?

Accepted Answer

An NFT bid is a potential buyer's offer for a digital asset listed on a marketplace. Bids are crucial in the NFT auction system, reflecting community interest and valuation, and provide insights into the perceived value and demand for an NFT. They are dynamic, evolving rapidly during auctions and serving as a real-time indicator of market traction.

Question 2

What are top collection bids in SimpleHash?

Accepted Answer

Top collection bids in SimpleHash represent the highest active bid for a given NFT collection. This feature provides a quick overview of the highest level of interest and valuation for entire collections.

Question 3

How does SimpleHash handle token-level bid data?

Accepted Answer

Via the Bulk Service, SimpleHash provides item-level details on the current stream of bids for different NFTs, offering in-depth insights into the bidding activity at the individual asset level.

Question 4

What information does SimpleHash offer about bid price and currency?

Accepted Answer

SimpleHash details the total price of bids, along with associated payment token details. This information helps users understand the financial aspects of bids in various cryptocurrencies.

Question 5

How does SimpleHash differentiate between token level and top collection bids?

Accepted Answer

SimpleHash offers both a summarized view of the top bid for a collection and detailed item-level bid data, allowing users to get a broad perspective or delve into specifics.

Question 6

What are the benefits of SimpleHash's real-time updates for bids?

Accepted Answer

SimpleHash provides real-time updates on bid data, ensuring information is current and queryable in seconds, not minutes. This timeliness is vital for users who rely on the latest data for decision-making in fast-moving auction environments.