A DECENTRALIZED AUCTION PORTAL FOR DIGITAL ASSETS

Auction portals are the wide marketplace to bid, sell and trade your assets. This marketplace facilitates the opportunity to trade a variety of assets and collectables across the globe. Its huge market visibility allows the users to list their assets in auction for audience interest which may also increase the asset value tremendously. As the digital era triggers the industries for digital adoption, why not an auction portal can?

Blockchain app factory takes digitalization seriously and uses powerful blockchain technology to modernize society in a decentralized ecosystem. The experience and skill set in blockchain technology enabled us to offer extensive services for business development in the crypto ecosystem. The significance of blockchain and its crypto products like NFTs requires huge attraction and visibility for a substantial revenue stream. This tends to offer a reliable auction portal in the distributed ledger system.

Is The Auction Platform A Better Investment Opportunity?

Auction portals are surging with the technology to offer their services online. The potential of digitalization supports the platform with its remote accessibility, flexibility, security, transparency and wide market visibility. It’s a promising platform for startups and newbies in blockchain technology to list their services and products in a secured decentralized auction portal.

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What is an Auction Portal?

An auction platform is a marketplace that lists a wide range of products and services where the user bids, sells and trades for extrinsic value based on their interest. This wide market connects products and customers across the world. This platform facilitates the entry-level business markets to list their products and collectables to gain huge traction and immediate revenue for their product. We develop the platform to serve a versatile audience which gains the audience and investor’s attraction towards the product and the auction platform. The collectables and assets listed here will possess a potential value for the assets, and competitors will be bidding in huge sums for the product. Digital action platform features the listing opportunities for digital assets like NFTs, digital arts etc. This auction platform follows two major auction protocols.

Dutch Auction

A Dutch auction is a market structure in which the price of an item will be determined after taking in all bids to reach the highest price at which the item can be sold. In this type of auction, investors place a bid for the item of their interest in terms of quantity and price. The first bid is the winning bid and results in a sale.

English Auction

An English auction is the most common form of auction for selling goods. The price rises from low and gradually increases until another buyer who bids to buy the item is left willing to bid after a certain amount, and yet the higher bid is not reached. The auction will be monitored by the auctioneer to make sure all the bidders get the opportunity to increase the price value.

Benefits of Online Auction Portal

  • Attracts versatile audience
  • Provides great exposure to the products
  • provides convenience to the users
  • Facilitates instant engagement through Marketing
  • Provides longer bidding window
  • Provides precise details about the listed products
  • Increases throughput.

Types of Auction Platforms We Develop


Smallest unique bid Auction

Our proficient team lets you launch the lowest unique bid auction type within minutes. Have the item to sell at the lowest unique bid in the cluster of bidding.

Regular e-commerce Auction

Launch a regular auction type of site with multi-seller capability. Each seller has their own shop and profile that supports user ratings, shopping cart, shipping options and so on.

Seat Auction

Our team supports you to launch a seat auction, where all members need to buy a “seat” at the table to bid. The bidding fee is integrated into the platform, and the users have to pay a preset bidding fee to take action on each sale.

Reverse Auction

A reverse auction website allows the item owner to start the auction with a high price, and the users will bid each time lower than the last bid. The person that bids last before the time expires wins the auction.

Our Portal Enhancements

  • We equip our portal with the following features.
  • Setting up general parameters: title, category, format, type currency, publication time, start/end time.
  • Specifying the products, categories and groups; inputting custom total price calculation formulas; opening bids for each product in each group.
  • Uploading files with relevant information for auction participants.
  • Selecting auction participants.
  • Inviting participants via email.
  • Monitoring invitation acceptance rates.

User Roles in Our Auction Portal


Co-hosts

Co-hosts help Hosts to communicate with auction participants through online chats.

Bidders

Bidders, who are also called product vendors, participate in auctions by placing their bids in the special Bid Point area of the portal.

Observers

Observers monitor auctions, communicate with other users via online chats.

Administrators

The administrator manages the portal on the customer’s side and has full access to the system settings.

Hosts

Hosts are the procurement managers who determine the auction rules and settings, list products for trading and invite participants. Hosts can also monitor the bidder’s action and select the winners with the help of special pop-up hints.

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End-to-end Auction Management

Our auction management workflows for hosts and bidders include

  • Accepting bids and refreshing the system in real-time.
  • Displaying the details of selected lots.
  • Enabling online chats for hosts and auction participants.
  • Reviewing the bidding history.
  • Visualizing real-time charts of price fluctuations.
  • Determining the auction winner according to a range of indicators.

Salient Features of Blockchain App Factory

Transparency

We offer insights and periodical updates about the development cycle.

Security

we ensure military-grade security for the credentials and details of the users.

Reliability

We offer a reliable online auction portal that tackles catastrophic failures.

Decentralized ecosystem

Blockchain’s decentralized ecosystem provides traceability of transactions.

Proficiency

Our proficient team crafts the customized platform for a better user experience.

Marketing

Our results-driven marketing strategy enables us to levitate your business for better market visibility.

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