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One of the earliest adopters of NFTs, Auctionity has offered crypto enthusiasts a 100% blockchain-based NFT auction platform since 2017, made possible through implementation of the DomRaider network. Auctionity helped to forge a method for the convenient sale of NFTs in 2018 by building an innovative and secure auction protocol; a model which has been validated via scientific publication.
Today marks a new milestone for Auctionity as it implements staking for the DomRaider Token (DRT). In anticipation of the project’s launch, a liquidity incentive program begins right now and will last one month. To this end, 3 million DRTs are being distributed to DRT/ETH liquidity providers (more details). The new developments mean that token holders can now stake DRTs on Uniswap and be rewarded for providing liquidity to DRT swaps.
Auctionity also announced it has plans to use DRT as a governance token, giving the community the right to vote on how the project should evolve. Staked DRT will also be used to determine the distribution of NFT sales commissions earned on the platform.
Mass market testing to onboard non-crypto users is underway
Auctionity’s R&D and marketing teams have been working on a series of tests to open the platform to the general public. This includes appealing to non-crypto users by giving anyone the ability to purchase NFTs in fiat currencies. The objective of the tests was to determine the level of interest in purchasing NFTs coming from users unfamiliar with cryptocurrency or blockchain technology.
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