You can now place bids in DRT

Our biggest achievement this month is a long-awaited one. The DRT (DomRaider Token) is now accepted as a currency on the Auctionity platform. The DRT is the token which was sold during the DomRaider ICO in September 2017. Our objective when we started to raise funds was to create the world’s first blockchain auction house with real-time, decentralized auctions. And we have delivered.

Where is the Auctionity platform at ?

Indeed, Auctionity is now a fully operational platform. It allows users to sell non-fungible tokens (such as CryptoKitties) and to buy them at English, eBay-like, auctions as opposed to other similar platforms which are built on Dutch, descending auctions. The community can get involved in the publicity of sales to obtain a percentage of an asset’s finale sell price. This can be done by sharing a referral link or embedding an auction widget on their website for example.

But what really sets Auctionity apart, is the live-auction feature. Anyone with a YouTube account can become an auctioneer for any sale they choose and earn part of the community reward for doing so. Through several partnerships, our in-house auctioneer Kim Cardano got to animate exciting and exclusive sales including CryptoKitties, Etheremons, Blockchain Cuties, KnownOrigin Digital Art and CryptoMotors. These hosted auctions for NFTs are unique within the crypto community and are always very much appreciated by our partners. This clearly demonstrates the power of video and livestreaming in the world of auctions but also its great potential for the future.

So yes, we did deliver on what we set out to do. But what about the DRT? What did we deliver on the DRT?

The DRT is now accepted on the platform

We are aware that some of the people who supported the project during the ICO may feel somehow crestfallen regarding the performance of the DomRaider Token. In hindsight, some would say that we should have allotted more of our time to increasing the value of the DRT. While this is true, it is also important to realize that investing in a project rarely guarantees instant returns and anyone who promises you that is probably only after your money. Our approach was rather to prioritize and use the funds raised through the ICO to actually accomplish what we set out to do, which we did.

Now that Auctionity is up and running, we are giving the DRT the place it deserves. We are enabling the utility aspect of the DRT so that it can become a fully-fledged currency on Auctionity, just like ETH and other ERC-20 currencies. Doing this will fulfill our initial intent and tie the whole project together neatly.

This is but a step in our journey to make Auctionity the go-to auction house for tokenized assets. The Auctionity platform will keep on evolving to take on new challenges and adapt to the needs of the market. While blockchain, crypto-assets and non-fungible tokens are still on the road to wider adoption by the greater public, we are proud to have developed a real product and to have honored our engagements. It’s a wild world out there but we are keeping on track.

The first sales in DRT are coming September 27!

To celebrate the addition of the DRT as a new currency on the platform, a series of sales will take place to give you a chance to make a purchase in DRT. The assets up for sale will include physical assets such as a few Ledger Nano S and a Ledger Nano X, DRT Medals (bronze, silver and gold) and a selection of CryptoKitties for the collectors out there.

Sales will be held from September 27 and will end on September 30, starting at DRT 1.

So grab your wallets and get ready to bid in DRT on the Auctionity Saleroom!