Offering liquidity solution for NFTs with an auction portal like Foundation
NFTs trend has attracted many industries to adopt blockchain technology to introduce their crypto business with NFT. Ethereum's standards for the representation of unique assets and its perpetual innovation in blockchain technologies paved its way for the introduction of unique NFTs in multiple blockchain networks. This surge in NFTs and its traffic bubbled the marketplace with plenty of NFT as a result of modernization of digital assets. The overflow of NFTs in the crypto market lags its reach in the marketplace. As many NFTs started to manipulate the crypto market, it also resulted in a lack of liquidity for NFTs. Only a few NFTs are getting its pitch in the market that gets audience reputation due to the popularity of creators. These illiquidity of NFTs were sorted out by Foundation’s innovative auction platform that allows the creators to list their NFTs in its platform for global market visibility. The platform outsources your NFTs to crypto investors and NFT collectors across the globe. NFT auction portals like Foundation helps to gain visibility for your NFT projects and facilitates huge revenue in auction sales with its global market visibility.
Why Auction platform for NFTs
NFTs rife and influence benefits only the popular creators who have fame in the existing market. Lots of NFTs remain untouched in the marketplace due to their lack of visibility and reputation. This results in the illiquidity of NFTs that remains in the marketplace without audience interest. To mitigate this in the competency of NFTs our innovators integrated an auction platform like Foundation that enables the users to mint and list their NFTs. This auction platform allows the audience to bid for NFTs of their interest, which offers a huge asset value to the NFTs. Auction portal’s popularity and investors' trust diverts their community audience towards your NFTs that creates great visibility in the global market. The platform’s traction and reputation attract sovereign investors towards NFT, which also gains traffic to your platform with abundant revenue opportunities. Enabling NFTs to create and list in auction platforms like foundation offers great audience traction with its incomparable bidding system with English and dutch auction methodologies.
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.
An English auction is the most common form of an 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 NFT marketplace like Foundation
Creates value for your NFTs
Marketplace with an auction platform that facilitates bidding offers huge value for your NFTs.This matchless bidding opportunity may lead your NFTs to get sold for millions of dollars.
Auction platform for NFTs will drive its community to your new NFT project, and that offers great market visibility for your NFTs from a global audience. It also facilitates huge traffic to your platform.
NFT marketplaces like Foundation provide a stable revenue stream with the audience traction and to the platform. The gas fee and service charges will offer financial benefits to your platform.
Marketplaces with auction features offer immediate liquidity to your NFTs by outsourcing your NFTs to a versatile audience and engaging them to purchase your NFTs.
Auction features have the ability to attract sovereign investors to your platform with its popularity. This flamboyant nature of auction houses drifts the versatile audience towards your platform.
Your profile will be activated once you connect your wallet. personalise your account and link to your social media accounts. This helps your customer to know about you and your creations.
Click the “create” button. This allows users to select between uploading an image in JPG or PNG or a video file in MP4 format.
Add title, description and details of your NFT that helps the user to know about your NFT.Confirm the details of your work before moving on to sign your NFT.
Sign your NFT. It Will forever link the NFT to your unique Ethereum address and wallet, which allows collectors to verify the work is yours.
Wait for the platform to complete your minting process. You can view the status of the minting process by clicking “View on Etherscan” and get the estimated time of completion.
Avoid double-minting. Minting the same NFT again or clicking the "Mint NFT" button multiple times will make your minting process expensive.
Our Action Towards Success
Blockchain App Factory’s pioneering business development services find developing an NFT marketplace like Foundation is the best choice to elevate your business and NFTs. We meticulously craft your platform, which will be equipped with the following features.