Tutorial

Starting an NFT auction

To create a new NFT auction, start by clicking on the "List NFT for sale" button in your account menu.

On this page, you can find a preview of all your NFTs on the right side. Click on the NFT you want to sell to pick it.

List NFT for sale

You then have to choose the reserve price and currency. The reserve price is the minimum price you are willing to sell your NFT for, users can only bid higher than that. At the moment, ETH is the only accepted currency on Auclantis.

Next, you can specify the "community commission". The community commission is the commission you want to share with the users that stake their tokens on your auction to give it more visibility.

Finally, you have to pick in which room to place your auction. The auction room determines at what time your auction ends.

After clicking on the "Create auction" button, a new modal window opens so that you can review the auction details. You need to approve Auclantis to transfer your NFT before you can create the auction, you can do that by clicking on the "Approve" button. Approving Auclantis to transfer your NFT can take up to a minute. After that, you create the auction on chain by clicking on the "Create auction" button and waiting for the transaction to be confirmed.

Create auction

You can always find your auction by visiting your dashboard. At the end of the auction, you can withdraw the profit you made from the sale (if someone bid on your auction) or claim back your NFT (if no one bid on it).

You auction data is recorded on-chain, you can always find it even after the auction ends. You can share this page on social-media so that other users can bid on it.

Auction details

Bidding on an auction

Bidding on an Auclantis auction is quick, easy, and cheap. From the auction page, click on the "Bid" button to open a new modal window showing the auction details. In this window, you can input your bid amount and then click "Bid" to submit your bid on chain. Note that a bid must be at least 5% higher than the previous highest bid.

Bid on auction

To encourage users to bid early, Auclantis limits bidding in the last hour of the auction only to users that already bid on the auction, this is called last chance. You can bid only once during the last chance period, so make sure to send a bid with the maximum amount you're willing to spend for that NFT!

You can check the status of your bids from your dashboard. At the end of the auction, and if you're the highest bidder, you can claim the NFT you just won.

Staking on an auction

  • Note: staking is not currently available on the Arbitrum One deployment.

Curators can select which auctions they find most promising by staking some tokens on an auction. At the end of the auction, the seller shares the community commission with all curators that staked on the auction.

From the auction page, click on the "Stake" button to open a new modal window. In this window, you can see the auction details and input how many tokens you want to stake. Clicking the "Stake" button locks your tokens into the Auclantis smart contract until the auction ends. Curators can stake up to one hour before the auction ends, that is before the last chance period starts.

Stake on auction

You can see which auctions you staked on from your dashboard. At the end of the auction, you can claim back the tokens you staked together with your share of commission, if any.