Auctionity — an Ethereum-blockchained project, launched by French DomRaider startup in 2018. The platform is also a marketplace, but with some distinctive features. This is the world's largest auction house for Crypto-Collectibles, which includes the game items and other digital products. All of them are based on the Non-Fungible Tokens (NFT).
Contents:
- Auctionity dapp application description
- Why is it worth using this resource?
- Why use this blockchain resource?
Auctionity dapp application description
Auctionity offers trading through a classic English auction. Moreover, all actions are accompanied through live streaming by the Auctioneer. Auctioneer - a person, leading the auction and hammering on the table at its end. In the case of Auctionity, we are talking more about online shows and youtube streamers.
Benefits:
- firstly, delivery guarantee;
- secondly, the creation of auctions, bids and the purchase of goods in the real time;
- thirdly, the platform remains transparent to the user.
The platform positions itself as a combination of the online platform Ebay and the auction house Christies. The main task of the developers - to scale the Ethereum blockchain. First of all, this was done so that bets were free and could be quickly confirmed. The solution to this problem was the creation of a private blockchain. It works with the decentralized Ethereum blockchain through Oracle.
The developer doesn’t provide White Paper and Road Map, however, all information about the project is well laid out in the "Documentation" section. Bonus systems aren’t provided here, but auctions are an excellent opportunity to purchase the desired object at an attractive price.
Why is it worth using this resource?
One of the important functionality of the platform is the guarantee of delivery and payment. A delivery guarantee provides protection to the buyer so that he’s confident in receiving his purchase at the auction end. On the other hand, a payment guarantee provides protection to the seller. To do this, the buyer, before making the raising bids, must contribute a certain amount on the deposit.
Deposits of the collectable tokens and ETH are held on the decentralized Ethereum blockchain. At the same time, the creation of auctions and bids themselves takes place on a private blockchain. As mentioned earlier, all information is reflected through Oracle. In addition, the private Auctionity blockchain can be checked, using the BlockExplorer (a service, where the story of all transactions and blockchain addresses is displayed).
Why use this blockchain resource?
Another important feature of the platform is the immutability of both bid and auction. Thus, sellers and buyers are protected from fraud.
Some features of the stock exchange for auctions:
| Platform using | To sell or buy NFT at auction, you must use a desktop computer. Be sure to install Metamask or use another hardware wallet. |
| ETH purchase | You need to buy ETH on the exchange, using the specified currency. You can purchase Ethereum directly from the MetaMask wallet, using the Coinbase widget. Just click the “Buy” button to get started. |
| Uniqueness | The platform became the first application in the world, completely based on the blockchain, which allows people to sell tokens at auctions. |
The Auctionity difference - the ability to conduct the auction through live-streaming. The Auctioneer owns the attention of the public and encourages it to bid. In addition, recently, it’s possible to broadcast in different languages. The Auctioneer can earn money at the auction, however, like the rest of the community, involving new buyers through the referral program. The official twitter page has more than 2000 people. With its help you can get the latest news. Also, there is a channel on YouTube that allows you to explore the features of the platform.