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NFTokenOffer

The XLS-20 standard for NFTs has a preliminary implementation that can be used in test networks, but is not yet available as an amendment to the XRP Ledger protocol. An amendment may be included in a future XRP Ledger release.

Tokens that have the lsfTransferable flag set can be transferred among participants using offers. The NFTokenOffer object represents an offer to buy, sell or transfer an NFToken object. The owner of a NFToken can use NFTokenCreateOffer to start a transaction.

NFTokenOfferID Format

The unique ID (NFTokenOfferID) of the NFTokenOffer object is the result of the following values concatenated in order:

  • The NFTokenOffer space key, 0x0074;
  • The AccountID of the account placing the offer; and
  • The Sequence (or Ticket) of the NFTokenCreateOffer transaction that will create the NFTokenOffer.

NFTokenOffer Fields

Field Name Required? JSON Type Internal Type Description
Owner Yes string AccountID Owner of the account that is creating and owns the offer. Only the current Owner of an NFToken can create an offer to sell an NFToken, but any account can create an offer to buy an NFToken.
LedgerEntryType Yes string UInt16 The type of ledger object (0x0074).
PreviousTxnID Yes string Hash256 Identifying hash of the transaction that most recently modified this object.
PreviousTxnLgrSeq Yes number UInt32 Index of the ledger that contains the transaction that most recently modified this object.
TokenID Yes string Hash256 TokenID of the NFToken object referenced by this offer.
Amount Yes object or string AMOUNT Amount expected or offered for the NFToken. If the token has the lsfOnlyXRP flag set, the amount must be specified in XRP.

Sell offers that specify assets other than XRP must specify a non-zero amount. Sell offers that specify XRP can be 'free' (that is, the Amount field can be equal to "0").

Expiration No number UInt32 The time after which the offer is no longer active. The value is the number of seconds since the Ripple Epoch .
Destination No string AccountID The AccountID for which this offer is intended. If present, only that account can accept the offer.
OwnerNode No string UInt64 Internal bookkeeping, indicating the page inside the owner directory where this token is being tracked. This field allows the efficient deletion of offers.
OfferNode No string UInt64 Internal bookkeeping, indicating the page inside the token buy or sell offer directory, as appropriate, where this token is being tracked. This field allows the efficient deletion of offers.
Flags Yes number UInt32 A set of flags associated with this object, used to specify various options or settings. Flags are listed in the table below.

NFTokenOffer Flags

Flag Name Flag Value Description
lsfBuyToken 0x00000001 If set, the offer is a buy offer. Otherwise, the offer is a sell offer.
lsfAuthorized 0x00000002 If set, the offer has been approved by the issuer. This flag can only be set by the Issuer of the token or an account authorized by the issuer (for example, the MintAccount listed in the account root of the Issuer) and only if the token has the flag indicating that authorization is required.

NFTokenOffer Transactions

Token offers on XRPL are stored sorted by quality in an order book and automatically matched by an on-ledger mechanism. An NFTokenOffer is not stored in an order book and is never automatically matched or executed.

A buyer must explicitly choose to accept an NFTokenOffer that offers to buy an NFToken. Similarly, a seller must explicitly choose to accept a specific NFTokenOffer that offers to buy an NFToken object that they own.

There are three defined transactions:

  1. NFTokenCreateOffer

  2. NFTokenCancelOffer

  3. NFTokenAcceptOffer

Locating NFTokenOffer objects

Each token has two directories. One contains offers to buy the token and the other containing offers to sell the token. This makes it easy to find NFTokenOffer for a particular token. It is expected that off-ledger systems will be used to retrieve, present, communicate and effectuate the creation, enumeration, acceptance or cancellation of offers. For example, a marketplace may offer intuitive web- or app-based interfaces for users.

NFTokenOffer Reserve

Each NFTokenOffer object costs the account placing the offer one incremental reserve. As of this writing the incremental reserve is 5 XRP. The reserve can be recovered by cancelling the offer.