XAM
Last updated
Last updated
XAMs are the various AUCTION MODELS for engagement on the AuctionX blockchain-based decentralized online auction platform. We have eight XAMs on offer to our AuctionX community with mechanisms for winning amazing DEALS.
XAM highlights:
AuctionX aims to present opportunities that can be deemed as 'DEALS' to community members and other users, where each auction is a revenue generation channel for the AuctionX platform and the auction houses running any XAM.
Each XAM is an independent engagement model with its unique process and opportunity, combining fun, luck, and skills as defined by the mechanics of the respective BAMs.
A short description of each AuctionX Auction Model (XAM) follows
1. Discreet Bid: Sell-price is kept discreet. | Amazing auction mechanism for businesses that do not want to advertise deal rates. | A good example is luxury hotels that don't want to advertise deep discounts as it causes brand erosion yet want to sell their unsold rooms.
2&3. Unique Top and Bottom Bids: Both are fun auction types. | Takes gamification to the next level. | Luck dominant. | Can win amazing products at unimaginably low prices.
4. The Last Play (Penny Auction): Fun auction mechanism. | WIN WIN WIN for the winner, house, and non-winners. | How about winning an iPhone at $ 1 - but if you don’t win – you still get the iPhone at market price.
5. Dutch Auction: Perfect auction mechanism with a non-deterministic product price. | A good example is Google’s IPO (initial price offering); ALGO did their ICO using this auction mechanism. | AuctionX will bring in the Dutch Auction mechanism for future ICOs.
6. English Auction: Simplest and most popular form of auction. | Bids are either sealed or open. | Very good for selling non-deterministic priced products.
7. Vickery Auction: English Auction twist. | Good for selling non-deterministic priced products. | Brings greater value to the auctioneer than normal. | Popular auction mechanism for NFTs, artwork, etc.
8. *Charity Auction: Simplest and most popular form of auction. | Bids are either sealed or open. | Very good for selling non-deterministic priced products.
AuctionX is a ‘for-profit’ platform committed to bringing in fantastic returns for its investors, team members, advisors, and general community.
Let's go through each Auction Model (XAM).
