Advantages of AuctionX

Blockchain, cryptocurrency-only online auctions offer all the benefits of conventional online auctions and more.

• Transparency on each bid placed, final winning price, tokens exchanged on and the final price paid for all purchases, building trust in the digital auction house.

• Privacy and anonimity as provided by blockchain for all participants and auction houses

• On-chain settlement

• Increased security for bidders from identity theft and hacking.

• Bidding and payment currency, cost, transaction fee, and delay challenges are eliminated for players worldwide.

• Transactions' blockchains eliminate collusion and shill bidding by the digital auction house.

• Fraudulent and misrepresented goods and pricing are eliminated.

• AuctionX offers 8 different types of pre-built and configurable auction templtes that can be leveraged by auction houses.

• These 8 different types of auction mechanisms are each – engaging and fun to participate in.

• AuctionX makes auctions more prevalent, relevant, and fun.

• Decentralized oracle integration - to fetch reliable external data feeds ensuring that real world information can be accurately utilized in an auction

• Reputation system - where bidders can rate the auction house, products under auction, consignor and the auctioneer.

• Integration of Artificial Intelligence - information of every auction, number of bidders, bid volume, will be used for predictive analytics.

• Liquidity and interoperatability - AuctionX will provide multi-chain support - enhancing liquidity and ensuring wider access, allowing users to interact with the platform using different cryptocurrencies and benefiting from specific blockchain features like lower transaction costs or faster speeds.