NFT Auctions FAQ

This article contains general information about how to participate in an NFT auction.

 

How to bid on an NFT auction?

1. Navigate to the NFT-specific page of the NFT that you would like to place a bid on.

2. On the NFT-specific page, click the "Place Bid" button.

3. Set your Bid price. Note that your bid price must be higher than the starting or leading bid.

4. Click "Place Bid"

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Please note the following details about placing bids on NFT auctions:

  • Bids may be cancelled 24 hours after being placed.
  • Bids placed during the last 24 hours of an auction may not be cancelled.

 

 

How to create an NFT auction?

1. From your NFTs wallet, navigate to the NFT that you would like to auction.

2. On the NFT-specific page, click the "Auction NFT" button view 

3. Set an Initial Price and Auction Duration. (Optional: Set a Reservation Price)

4. Click "Create Auction"

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Please note the following details about creating NFT auctions:

  • The Reservation Price is the only field that may be edited after starting an auction.
  • Auctions may be cancelled at any time, prior to the end of the auction.
  • Bids placed in the last 10 minutes of an auction will extend the auction end by 10 minutes.