Dutch auction begins from the higher price and anyone can purchase the NFT over a set period of time. The first bid during that period will win the NFT. Price will decrease over a settled amount of time and the auction will end when it reaches reserve price.

Rules

Cancellation

• Once a guarantee has been accepted and the auction started this cannot be cancelled.

End Time

• When the ending countdown goes to 0, the auction ends. Then the item can be collected by the Guarantor.

Collect

• If you are the buyer, click on ‘Buy now’ and sign the transaction and after a few minutes you will automatically see your new NFT inside the ‘owned’ tab on your profile. You will get a notification once the transaction is completed.
• If you are the guarantor of the NFT and the auction ends without a buyer, you will become the owner the NFT. Just click on ’Claim now’ button on the notifications section and also on the triggered floating windows, sign the transaction and after a few minutes you will automatically see your new NFT inside the ‘owned’ tab on your profile.

Fee

• For a limited time this feature will have no fees.

Quick guide