Each auction of Nifty Gateway will last for 24 hours, and will be a proof of funds auction.
Auctions will be denominated in USD.
You will not actually pay any money until the auction has concluded, and you will only have to pay if you win the auction.
How long Auctions last:
Each auction will last for 24 hours.
Within the last 5 minutes, every new bid will increase the auction time by 5 minutes.
How can I place a bid?
You can place a bid with either cryptocurrency or credit card.
To place a fiat currency (USD) bid, you will need to select a credit card. If you haven't yet, you might need to save a credit card. An authentication of 10% of your bid amount will be placed on your credit card, and but will not be charged unless you win the auction.
To place a crypto currency bid, you must have a prepaid eth balance on Nifty Gateway. You will then be allowed to bid up to the USD equivalent of the amount of eth you have in your wallet. You will not be required to pay any eth to us while placing a bid.
Placing a new bid will automatically cancel any previous bid you have placed.
What happens when I win?
Once you win an auction, you will have to pay us the final bid amount. Contact us via the request forms on the Help Center if you have any issues.
After you have paid, the Nifty you purchased will be minted and sent to your account.
To learn about Silent Auctions, check our article here.