Auctions are the main way to buy NFT.
There are the following mechanisms for their implementation:
• Dutch auction.
It is usually used to sell inexpensive tokens. At the very beginning, the maximum price of the product is announced. After that, the price gradually decreases to the point at which someone is ready to buy NFT.
• English auction is the most famous one.
The minimum price is set and after that the participant who made the best offer buys out the crypto art.
To participate in the auction, you just need to register on one of the platforms, for example, OpenSea, Raible, SuperRare, Known Origin, ArtBlocks or Foundation.
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