Popularization of the technology of the blockchain with each passing day is gaining momentum. One of the latest trends in its development are Non-Fungible Tokens (NFT), or as they are called ERC-721 tokens, which market today is under expansion.
Awareness of this trend led the creators of the successful French blockchain project DomRaider to the positioning of one of the company’s products, namely Auctionity, the development of which has recently been given special attention, as the first future 100% blockchain-based platform for auctions NFT. Auctionity from DomRaider will be the solution for NFT auctions in real time on the blockchain and will represent the company in a new light – as a future strategic player in this new market!
Read more about Auctionity from DomRaider
Revolutionary in the world of online auctions product Auctionity from the company DomRaider is an application for conducting auctions on the blockchain, through which Auctionity is quick and safe platform, in which all transactions associated with the process of the auctions, is recorded and stored in the blockchain.
Release the first working version of the app to a wider audience in the format of MVP (Minimal Viable Product) has taken place at the beginning of February 2018. Since then a lot has happened, has done enormous work in relation Auctionity and its functionality. Track all completed and planned changes in the road map product Auctionity that is constantly updated.
The main new features planned for the near future, will be a Guarantee of Delivery, the program of the auctioneer and Saleroom Auctionity. The latest update is directly related to the NFT, to which we shall return later. It is also worth noting that a few days the release of an important new component Auctionity – Payment Guarantee. For a project Auctionity, which is still under development, the introduction of the Payment Guarantee is a great event because it is a guarantee of trust for the seller against the buyer in the transaction. So, the seller is protected against non-payment by the buyer due to the Payment Guarantee, which, first, dictates the winning auction participant, the inability of refusal to purchase, and secondly, provides for the right to participate in bidding only if there are sufficient funds in the Deposit account.
With regard to the Guarantee of Delivery, this feature will guarantee the buyer the delivery of the commodity, which he won in the course of participation in the auction. Development of the module ‘guarantee of Delivery’ will be completed by September, in conjunction with the program of the auctioneer and sales room (Saleroom Auctionity), which will be discussed separately. Follow all product updates and project progress Auctionity all holders of tokens DRT can follow by joining Auctionity Club.
Introduction to NFT and the phenomenon of development of this market
One of the latest interesting features of the platform Ethereum steel Non-Fungible Tokens, based on the standard ERC-721, which everyone learned after the stunning success of the game CryptoKitties. Thus, by the end of 2017 NFT sensational way, entered the world of the blockchain. CryptoKitties have generated such high interest in Non-Fungible Token that the Ethereum network at some point was so congested that almost stopped working. 2 weeks since launch CryptoKitties managed to collect 12 million $, and in General, the game has brought developers to $ 25 million. All this testifies to a new economic boom digital assets such as NFT.
What is the feature of the NFT? This is a unique and distinctive tokens, individual characteristics and properties which are dictated by the standard on which they are based – ERC-721. Each of these tokens is unique, and can not be replaced by another of the same, and is indivisible, unlike, for example, from the same bitcoins that are interchangeable and divisible to the eighth decimal place. Due to its unique properties, Non-Fungible Tokens can be used in the field of games, digital art, copyright, software licenses, advertising, gambling, tickets for events or even in the field of hotel booking and this is only part of their challenges.
Auctionity – the first 100% blockchain-auction is for NFT
The rising trend in the development of the market, NFT opened up new possibilities for the creators project DomRaider. In the foreseeable future, the project developers will launch a specialized module Auctionity Saleroom, which will allow NFT to hold auctions and a special program for auctioneers. In September of this year DomRaider plans to launch the trading room, which will allow for the purchase or sale of NFT within the application Auctionity. Team DomRaider developing new platform capabilities and improves existing ones. Follow all the latest changes of the project Auctionity on the official website under «Roadmap» and in the account on Medium or joining community Auctionity Club.