Dutch Auction

Our Dutch Auction contract allows a seller to list an NFT at a high starting price (what they think it could potentially sell for) with a stated reserve price (the minimum price they are willing to sell for), with a specified duration of time (e.g. 1 day, 7 days, etc.) where the listed price will continuously decrease in specific amounts and durations towards the reserve price.

This is useful for sellers to maximize their sale revenue without the hassle of setting up an auction and marketing it, as the listing can be listed with other normal listings with continuous auto-price reduction, and can explore the true price that buyers are actually willing to pay for instead of setting your reserve price straightaway like with fixed-price listings.