Reserve Auction

Reserve auctions can be a great way to create extra hype around the selling of your token. When adding a timed countdown to the sale of your NFT can encourage collectors to get in quick. As the creator, you will be asked to set a reserve price for your NFT. The reserve price is the minimum amount you want to earn on that piece. Once a bid that matches your reserve price has been placed, the auction duration you set (between 1-10 days) will be triggered - starting your live auction.

Each subsequent bid offered after your reserve price will automatically be required to be 5% higher than the current bid placed. Collectors will not be able to offer anything lower.

If a bid is placed within the last 15 minutes of an auction, the countdown will reset back 15 minutes. This 15-minute reset window can continue as many times as necessary until the timer has finished. This extra time gives all bidders an extra chance to win the auction.

Step by Step guide on how to list your NFT in a reserve auction

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