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AUCTIONING: POWERED BY DOMRAIDER: IS REVOLUTIONIZING THE AUCTIONING SYSTEM

In summer 2013, CEO and former founder of Prizee.com, Tristan Colombet founded 4X. 4X has developed into now what we call ‘DomRaider’. The aim of the company ‘DomRaider’ was to use innovative blockchain technology to revolutionize the auction world. (Prize was the world no. 1 casual gaming platform in Europe in the 2000s.)

Auctioning which is powered by ‘DomRaider’. Auctionity as it claims is the bridge between the world of assets and the potential of open source blockchain.  Auctionity’s solution provides decentralized blockchain auctions in real-time. The aim of Auctionity is to make auctions safer, faster, and more reliable through blockchain technology. (https://www.auctionity.com)

Tristan Colombet has said that “Soon, it will be possible to easily sell a tokenized item (i.e. made unique and identifiable on blockchain) on the Auctionity platform. Auctionity also makes online auctions more spectacular and viral via a reward mechanism which encourages community members to participate in the sales promotion of an auction”

Auctioning is quite a unique platform and aims at quick, safer and reliable auctions through the blockchain technology. Auctionity’s solution provides decentralized blockchain auctions in real-time. The marketing strategy of the company is quite amazing and it makes auctions go viral soon. Social media plays an important role in this process and the auctioneer is engaged completely with an interactive and real time live streaming of the saleroom is also shown. Auctioning currently specializes in auctions of a special type of tokens known as nonfungible tokens.

Auctioning is changing the orthodox system of auctions that prevailed earlier now they allow the bidders to bid for digital currencies anytime and anywhere through a digital platform like a smartphone, laptop, and others. They are really solidifying the process of auctions and are making them more reliable. They aim to revolutionize the world and they are correctly doing so through their high technology blockchain.

About Ritika Sharma

Ritika Kumari Sharma is an Economics Honors graduate from the University of Calcutta. She is completely into finance and believes that cryptocurrencies are the future. She is an enthusiast learner about the cryptocurrency and blockchain technology.

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