If you are a crypto enthusiast and are familiar with Non Fungible Tokens, also know as NFTs. Then there is now a decentralized, blockchain based auction platform for people like you.
Auctionity
Auctionity is where you can create and participate in real time auctions hosted by the community members.
How Does Auctionity Work?
The seller deposits his NFT onto the Auctionity Smart Contract and can then adjust the settings for the auction, like the start date, end date and the start price.
He can then decide to get the help from the community to promote his auctions, simply by rewarding the community with 0% to 50% commission on the final sell price.
The Bidder credits his account with Ether onto the Auctionity Smart Contract and bids on the auction. The winner will get NFT ownership, the seller will receive Ether and the community members will be rewarded, which is like a win win situation for all.
Here is the Graphic Illustration
30% goes to the bidder's sponsors, such as bloggers who promote your auction on their website, with an extra 30% for the one who brings the winner. 20% goes to the seller's sponsors such as NFT wallets, allowing their customer to sell their assets on the Auctionity platform. And finally, 20% goes to the auctioneer who animated the auction using video livestream on the Auctionity saleroom.
Through Auctionity, auctions become viral and the community gets rewarded.
Auctionity is featured on
official website, check the link below.
https://www.stateofthedapps.com/dapps/auctionity