Auctionity — ERC-721 and NFTs will soon have their own 100% blockchain-based auction platform

[TL;DR] The development of the blockchain ecosystem is constantly finding new applications thanks to the NFTs (Non-Fungible Tokens), a market in full expansion.
Auctionity’s solution of real-time blockchain-based auctions places itself as one of the upcoming strategic players of this emerging market.

The promising ERC-721/NFT market

The world is about to witness a new economic boom caused by digital assets, namely Non-Fungible Tokens (NFTs), thanks to ERC-721 protocols.
Don’t know what an ERC-721 is? ERC-721 is a free, open standard, describing how to build non-fungible or unique token on the Ethereum blockchain. While most tokens are fungible, ERC-721 tokens are all unique. So, think of them as rare, one-of-a-kind collectibles. For further explanations about NFT, ERC-721, read our last article Beyond CryptoKitties: pushing future usages of ERC-721.

Over the past year, CryptoKitties have become the new trend as people became increasingly interested in having their own crypto cat. They’ve infiltrated our news and social media feeds. But CryptoKitties were just the beginning of crypto-collectible applications. Gaming is only the tip of the iceberg as the NFT market is not exclusive to crypto-assets: the properties of these tokens allow applications in the fields of gaming, digital arts, title records, software licenses, advertising, gambling, event ticketing or even hotel booking to name but a few.

 

We can’t predict the future but we can read the signs that are right in front of us. There are many initiatives created by individuals, artists,companies, non-governmental organization around ERC-721 and Non-Fungible Tokens usages. Many marketplaces like OpenSea, Rare Bits are growing fast, Lumi Blockchain Wallet supports all collectibles in one wallet. And this is just the begininning. We strongly believe that a new market is emerging and Auctionity has its role to play in promoting new usages and growing awareness around it in the short and long-term.

Auctionity: blockchain auctions for NFTs

This booming market paves the way for new opportunities and the emergence of a new sector — hence Auctionity’s choice to position itself as a pioneer in the NFT universe with its auction-dedicated ecosystem.

As a reminder, Auctionity’s goal is to revolutionize the auction world thanks to its unique application of the blockchain technology.

The Auctionity blockchain provides a fast and secure platform on which all auction-related transactions are registered on a dedicated blockchain. This innovative project was made possible thanks to DomRaider — a French Tech startup — and the success of its ICO.

Today, the DomRaider team is refining Auctionity’s strategy by positioning the platform as the first-ever 100 % blockchain-based application enabling the sale of Non-Fungible Tokens (NFTs) at auction.

Our solution Auctionity uses NFTs as titles of ownership, so that any asset tokenized (physical or digital) can be sold on the platform. Auctionity will not be restricted to popular NFTs but everybody will be able to sell there own NFT.

The Auctionity project, which is currently in development, has just taken an important step forward with the introduction of payment guarantee– a token of trust for the seller. Payment guarantee ensures the seller will indeed receive the money linked to the sale of their item on the auction they created.

The next step on Auctionity’s roadmap is to implement delivery guarantee for the buyer. This functionality will indeed ensure the buyer of the delivery of the item he won at auctions. The Auctionity application can be used by anyone, whether to sell NFTs through auctions, to participate in existing auctions, or to promote their own auctions.

Next September anyone will be able to buy and sell NFTs through auctions in the Auctionity Saleroom. Join the Auctionity Club now to stay informed of the progress of the project.

We are making things happen: Auctionity is on the right track.

We still need you to show your support: if it is not already the case, follow us on our various media, relay our communications to spread the word and stay tuned for more updates!