# Marketplace

The Stargaze NFT auction happens as a perpetual auction. Asks and bids have time limits set by governance.

Anyone can call the `SetBid` method and make an offer on any listed NFT. The funds are sent to the marketplace contract which serves as an escrow.

Bidders can remove their bids and reclaim their funds with `RemoveBid`. When a bid is removed, its deposit is refunded. New bids automatically remove and refund previous bids.

The NFT owner can at any point pick a bid they like and call the `AcceptBid` method, which will transfer both the funds and the NFT.

Optionally, the NFT owner can set an ask price with the `SetAsk` method. If an ask is set, any bid that meets the ask requirements is automatically accepted and transferred to the bidder. The owner can remove the ask with `RemoveAsk`.

When a bid is accepted, both the payment and NFT are automatically transferred. Payment is split up and distributed according to royalties specified when the NFT was minted.

### Authorizing Marketplace

In order to accept a bid or set an asking price, the owner needs to grant approval to the marketplace contract for transferring the NFT. This can be done with an NFT's `Approve` method for each NFT, or by using `ApproveAll` for all NFTs in the collection.

## Running this Contract

You will need Rust 1.44.1+ with `wasm32-unknown-unknown` target installed.

You can run unit tests on this via:

`cargo test`

Once you are happy with the content, you can compile it to wasm via:

```
RUSTFLAGS='-C link-arg=-s' cargo wasm
cp ../../target/wasm32-unknown-unknown/release/sg_marketplace.wasm .
ls -l sg_marketplace.wasm
sha256sum sg_marketplace.wasm
```

Or for a production-ready (optimized) build, run the build command in the repository root: https://github.com/CosmWasm/cosmwasm-plus#compiling.