Non Fungible Token & Auctionity: Buy and Sell Cryptokitties, Ethermons and More

The Blockchain is a new technology that has continued to grow and it is accelerated thanks to the arrival of Ethereum and its famous tokens (standard ERC20 , ERC721, and others). Among the concrete applications that we see appearing, the Auctionity projectoffers a real-time bidding solution , developed on blockchain technology. This platform makes it possible to exchange non-fungible tokens or NFT (Non-Fungible Tokens).

A non-fungible token (NFT) is a special type of token that represents something unique (~ a single digital object); non-fungible tokens are therefore not interchangeable. This is in contrast to crypto-currencies like Bitcoin, and many utilitarian tokens that are fungible by nature. ( source)

After Domraider's ICO success that took place in September-October 2017, as expected, its platform called "Auctionity" is now open to the public on app.auctionity.com. It allows to exchange these famous and unique non-fungible tokens.

Blockchain: Confidence for buyers and sellers

Blockchain technology provides confidence when transactions are made online, especially when it comes to auctions. Thus, a person wishing to sell his property at auction will be assured of the payment of the final price of the sale thanks to the payment guarantee proposed by Auctionity. The buyer, that is to say, the highest bidder of the property sold, will have at the same time the certainty of receiving ownership of the property he has purchased, via the delivery guarantee.

The Blockchain therefore acts as a trusted third party absolutely incorruptible!

Saleroom Auctionity: selling and buying NFTs at auction

At the launch of Auctionity, two categories of Non Fongible Token are already available for purchase and auction:

• the CryptoKitties
• the Etheremons

If these two names still do not tell you anything, just know that there are 2 types of NFT that are currently among the most traded of the moment. New categories of NFT will be added in the coming days.

Community Rewards

More than just a real-time bidding platform on the blockchain, Auctionity relies on the virality generated by the community to promote bidding.

Thus, a percentage of the final sale (defined by the seller) will be shared between all the people who participated in the promotion of the auction, its creation, the various auctions and bidding, until the best final offer. A way to reward all participants in a sale while increasing the visibility of the auction.

Auctioneer: the auctioneer

It is also possible to become auctioneer, that is to say auctioneer (with the difference that blockchain technology is responsible for the award). The mission of the auctioneer is to animate the end of the auction by highlighting the properties put on sale. It brings a more humane component to transactions.

The auctioneer is in charge of the animation of the auctions during a live video taking place in the minutes preceding the end of the auction. At the end of this one, he perceives his commission. In other words, he leads the auctions.

NFT: a market of the future?

Today, the figurehead of the NFT is represented by the CryptoKitties that have been so successful that they were responsible for the slowdown of the Ethereum network . Yes, at this point! If the NFT are today very widely used for games, it is a safe bet that they are promised a bright future and diversification. This will be particularly true through the coming tokenization of different goods and services . It is on this evolution that DomRaider guarantees the development of Auctionity in the coming months and years. The NFT market, while still in its infancy, is set to grow and rapidly reach a much larger audience.

What do you think about unique tokens, NFTs ? Would you participate in an auction on the Auctionity platform? Tell us everything.

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