OmniFlix.Market has revamped the auction module to offer you an adrenaline-charged experience in the NFT world.

With auctions, you can list your NFTs for a limited time, stirring the excitement amongst potential collectors

With a range of customizable options like:

• listing NFTs from a selection of IBC tokens to choose from

• setting minimum bid prices

• bid increment percentage

• splitting the proceeds from the auction

and even..

• whitelist specific accounts to participate within an auction (not token-gated auctions but you can consider them to be whitelisted)

Auctions (v2) on the OmniFlix Hub is your gateway towards organizing highly engaging, completely transparent and dynamic NFT auctions.

Get ready for a compelling and electrifying experience.

Value add of Auctions

Auctions for NFTs have been around for a while now. Simply put, the excitement during the bidding process engages the community far more than a minting event.

Auctions open up a new way of engaging with the community and enable fair price discovery for NFTs that can represent media assets, community access passes, in-game assets and more.

1. Opportunities for Collectors: The auctions module lets collectors place bids on NFTs available for a limited time, allowing them to discover and acquire unique pieces at a price that the creator is comfortable with, and is community-driven.

2. Control for Creators: Creators can use the module to list their NFTs for timed sales with fixed-price increments thereby having full control on the bidding process. Creators also have the option to whitelist community members, thereby creating a more exclusive and incentivized environment.

Walkthrough of the Auctions v2 Module

Below is a quick walkthrough of the Auctions v2 module and everything you need to know as a creator, collector or a community manager that is interested to utilize auctions within your community.

A) Becoming an NFT Connoisseur by Bidding on NFTs

1) Exploring NFT to bid: Head to OmniFlix.Market, Click on Marketplace, and select Auctions to dive into the action.

2) Placing bid: Spot the NFT you're after, hit ‘Place Bid', punch in your bid price in the pop-up, and viola - your bid is placed!

B) List your NFTs for Auction

1) Listing your NFT for Auction

• Connect your account

• Go to My NFTs

• View NFTs on your OmniFlix.Market account

• Hover/select an NFT

• Click ‘List’

2) Set Auction Parameters

Choose ‘Timed Auction’ and enter the necessary details such as:

1. Token to list - Select the token or NFT you want to list for the auction. This should be the item you wish to sell or put up for bidding. (mandatory)

2. Price in the selected token - Enter the starting price for the auction in the chosen token. This will be the initial value at which bidding will begin. (mandatory)

3. Minimum Bid - Specify the minimum amount by which bidders must increase the current bid. Bids lower than this amount will not be accepted. (mandatory)

4. Bid Increment Percentage - Set the percentage by which each bid should increase. This determines the increment between successive bids during the auction. (mandatory)

5. Auction start & end time - Choose the date and time when the auction will start and when it will end. Bidders can only place bids within this specified time frame. Highest bidder at the End Time gets to own the NFT. (mandatory)

6. Splits - If you are keep to split the proceeds from the auction with your co-creator or anyone that supported you during the journey, you can add their details and add splits for your NFT. (not mandatory)

7. Whitelist - Whitelist accounts from within your community and run exclusive, private auctions. (not mandatory)

Below is an image of the fields right before the final confirmation.

Review the information, and once everything is set, click ‘Create Auction’. Your NFT will then be ready & listed for a timed auction.

Unlisting an NFT: If you need to remove your NFT from auction or cancel the listing before it going live, just go back to your account, select the listed NFT, and click Cancel Auction

C) Bulk Transactions on OmniFlix.Market

OmniFlix Market's bulk listing/delisting feature empowers creators and collections by streamlining the process of managing multiple assets.

By enabling bulk listing or removal with a few clicks, it saves time and enhances control over content distribution and availability.

• Start off by clicking on ‘Bulk Select’ in your OmniFlix.Market account.

• Choose NFTs you want to Bulk List and then click on ‘List’ or ‘Delist‘.

• Fill in the required Bulk Auction Listing details and click on ‘Create Auction‘

• Note: During Bulk Listing, all the NFTs will be listed using only one Minimum Bid Price. For example, in the below case, the two NFTs will be listed for

What’s new in Auctions v2 ?

Proposal #12 passing enabled the OmniFlix v0.11.1 upgraded with new features, one of them being Auctions v2 module. Here’s what's new in OmniFlix.Market auctions, fine-tuned for a more efficient and equitable experience:

• Set End Times: Take charge by setting a specific end time for your auction. This feature allows you to determine the closing time, ensuring a clear timeline for bidders.

• Fixed Bidding Window: If an auction receives multiple bids only the highest bidder to bid at the very end remains. An extendible bidding window is being discussed as we proceed with the release of v2.

• Bid using any IBC token: Owing to the interchain ecosystem, creators can list and collectors can participate in auctions using any IBC token within the ecosystem.

• Instant Token Reimbursement: In case you get outbid, your tokens are instantly reimbursed. This facilitates continuous participation without having to wait for a manual refund.

Flix Fridays - Auction v2 campaign by the Community subDAO - FlixFanatics

Ready to put the swanky new Auctions v2 features into action?

What better stage than the Flix Fridays campaign! As a creator, this is your shot to show off those bidding reflexes and clever listing strategies. There are juicy rewards for those that top the charts.

Whether you’re a creator, collector, or bidder, it’s time to dive into the action! Check out the details about the campaign in the tweet below:

Be a part of the Flix Fam

Join us to help creators/communities do more with NFTs on #OmniFlix 💪

App URLs

• OmniFlix Studio to create collections & mint NFTs - https://app.OmniFlix.studio

• OmniFlix Market to list & collect NFTs using various IBC tokens like ATOM, OSMO, JUNO, HUAHUA & AKT - https://OmniFlix.market

• OmniFlix TV for distribution of content using VOD and interactive videos - https://alpha.OmniFlix.tv

• OmniFlix inSync for staking & more - https://flix.OmniFlix.co

Social URLs

• Telegram - https://t.me/OmniFlixNetwork

• Discord - https://discord.com/invite/6gdQ4yZSTC

• Twitter - https://twitter.com/OmniFlixNetwork

• Reddit - https://www.reddit.com/r/OmniFlix/

• Medium (for blog posts until June 2022) - https://medium.com/@OmniFlix

• Current Blog (Mirror which is a web3 publishing platform) - https://mirror.xyz/OmniFlixNetwork.eth

• FlixFanatics Blog (an OmniFlix subDAO) - https://mirror.xyz/FlixFanatics.eth

All URLs - https://linktr.ee/OmniFlix

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If you are either a creator or a DAO/dApp/network and are looking to develop your community and use NFTs in creative ways? Fill the form to get in touch with us.