On NFTify, now you can sell your NFT with a new method - "Timed Auction". In Timed Auction, you can create an event where buyers place bids against one another until a specified time. At that time, you can decide who would be awarded the item - maybe the person with highest bid.
You can create a sell order with Timed Auction method by following the steps below:
Step 1: From Store Admin site, select Sell Order. You will see your Sell Order Listing. Click on Create Order.
Step 2: You can see Create Sell Order screen. Please click on Timed Auction tab. You can select the item you want to put on auction. Please remember that you can only select the off sale item in ERC - 721.
Step 3: Enter Minimum Bid. All bids that buyers place must be higher than this number.
Note: Tokens supported are different according to the network of your store. NFTify is available on Binance Smart Chain, Ethereum and Polygon
Step 4: Enter Increment (%). This is the minimum difference between two consecutive bids.
Step 5: Enter the Duration of your auction including: start date, start time, end date and end time. Please remember that the maximum duration is 7 days.
After you select end date and end time, you can see the Expiry Date. This is 3 days after the end date. After this Expiry Date, you cannot accept any bid.
Step 6: Select Payout Group that you want to share profit of this order. If you don't have any Payout Group, click on Create Payout Group.
Step 7: To Put On Sale, you need to sign on MetaMask to confirm your request
Sign NFT if the item put on sale for the first time
Step 8: The auction is created with status Active. At the same time, NFT status changed from Off Sale to On Sale.
Event Status of the auction depends on its duration, including: Coming Soon, Live, Selecting, Ended.
Step 9: In View Sell Order detail screen, click on Auction History tab. Here you can choose the winner of your auction by clicking on Accept button at Actions column. You can only accept bid with Open status. After Expiry Date, all bids will turn to Expired status and you cannot accept any bids.
After accepted, status of the bid will turn to Accepted. Status of other bids will be Cancelled.