Auctions Feature Now Live

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We’re excited to share that NFTb’s auctions feature is now live!

Auctions serves as one of the most accurate and quickest forms of price discovery for almost any asset.

Users will now be able to list NFTs using an English style auction (ascending dynamic auction).

The launch of the auctions feature will enable artists to engage with their communities via auctions.

How it works

With NFTb, anyone can auction their artwork at an affordable rate.

When listing an item for sale, choose “Auction”, once here you will need to set:

• The Reserve Price: The price that will initiate a 24-hour countdown for the auction to be automatically closed. If a new high bid is received within the final 10 minutes of the countdown, the countdown timer will reset back to 10 minutes until no higher bids are placed.

You can even choose if you want to donate a share of the NFT’s sale to charity or split the sale with a collaborator.

Once listed, buyers can place a bid on the listed item up until the end time.

Please note: A bid placed in the last 10 minutes of an auction will extend each auction by 10 more minutes. Popular auctions are often extended by new bids offered in the last 10 minutes

This new feature is one of the many features the NFTb team is currently developing for the community. Keep up to date with the upcoming features and updates on the NFTb roadmap.