Auctionity - Revolutionizing the Auction World With Blockchain Technology
Introduction
Since the advent of the Internet, the traditional way of auction has been transferred to the online market place, since the Internet is more efficient and bidders can bid at the comfort of their home. eBay is the largest auction platform on the Internet with more than 100 million registered users. eBay and other top auction sites are centralized platforms and thus, they charge fees when items are being listed and sold on their platform. The reason why decentralized blockchain-based auction platforms are been developed. Since most centralize and decentralize platforms renders auction for fungible items alone, Auctionity brought a whole new creativity to the auction world.
About Auctionity
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Ranked on the State Of The DApps MEW 2019 list, Auctionity is a blockchain-based auction platform built on the Etherium blockchain with the aim of revolutionizing the auction world. Unlike other auction platforms, Auctionity is the largest auction house for Non-fungible tokens (NFTs). These are special types of tokens that are not interchangeable and represent something unique. Being the first-ever platform enabling users to sell Non-fungible tokens, Auctionity provided a transparent and decentralized auction house where sellers and buyers can be confident to receive payment and won items respectively.
In comparison to other blockchain auction platforms such as EAP, OpenSea, and Rarebit which uses the Dutch auction system, Auctionity tends to make use of the traditional English auction system, which gives more value on the auctioned item. Auctionity also made the platform an interactive one where the community can get involved and get paid for promoting auctioned items.
How to get started
The Auctionity developers worked really hard to make sure using the platform is as easy as pie. You don't need to be a tech guru in order to get started. Just follow the simple procedure below to make your first Non-fungible token (NFT) auction or bid.
To get started, visit the official website of Auctionity via this link
On the homepage, click on the top-left dropdown. Then click on the "Create" button which will require you to create a new wallet in order to log in.
- Click on the '"Login" button and you'll be redirected to Portis wallet where you can create a new wallet. Fill in the form in order to create a wallet and a verification mail will be sent to your email.
- Open your email, click on the verification link in order to verify your account.
- After a successful verification, click on the slider (trust this app), then input your name and email in order to activate your newly created account.
- Viola! You can start auctioning or make deposits to your wallet address to start bidding.
What I like about Auctionity
Firstly, Auctionity has a very simple and easy to use interface making the user experience more friendly and convenient. Unlike other platforms, Auctionity making use of the English auction system gives value to the user's auctioned item, which is what everyone wants. The ability for users to get involved in promoting auctions and earning from it is what I love the most. This is definitely a win-win for everyone while catching fun on the platform. Lastly, the Auctionity platform allows users to make multiple bids without being charged for gas fees.
What I don't like about Auctionity
Due to the fact that I love complete privacy, Auctionity requiring users to input personal information such as full name and email address in order to make uses of their platform is what I don't like.
Conclusion
By just imagining how every item can be tokenized in the nearest future by blockchain technology, I strongly believe Non-fungible token is the future. Auctionity has taken that bold step by helping bring the future of Non-fungibility closer through an awesome platform. I am rating Auctionity a 4.5 out of 5 stars for making this possible.
Official Links
Auctionity Official Site | Auctionity Twitter | Auctionity Github | State of the Dapps