Peer-to-peer trading is the ability to trade without the necessity of an intermediary, which was previously impossible through the online realm before the introduction of blockchain technology. Now, anyone can conduct transactions with whomever they wish, all through a fluid trading process that only involves the parties within the trade. With swaps, this is done off-chain with no transaction fee, making the trade as seamless and easy to execute as possible.
This presents a massive opportunity for NFT holders and users, as there is now a genuine open market where anyone can realize the tangible value of their items. This feature will take place throughout a NFTs entire online lifecycle. We should understate the value these types of transactions can generate.
Imagine you have been spending months building up your character in order to complete a quest, and now you only need one more rare in-game item to qualify and begin. Instead of playing for innumerable more hours to earn the qualifying item, you can simply buy it or trade for it in an open market with another player. You can trade a variety of digital items you own, all with a uniquely identifiable value, in exchange for the item you require, or you could simply offer the seller a price they cannot refuse. With peer-to-peer NFT swaps, users can navigate a gaming world in a much more straightforward way, conducting transactions in a manner that mimics the real world.
We can also see the value of swaps through games like CSGO, where users are always buying, selling, and earning new guns and skins. If you have multiple of a single item or are looking to diversify, peer-to-peer NFT swaps make the transaction easy and leave the entire value of the transaction within the hands of the gamers making the trade. On top of that, swaps mean no transaction fees have to be wasted on the exchange, optimizing the outcome for both trading parties.