How to buy NFT from Auction

Auction is a feature on Dagora that helps NFT’s owner sell their items at the highest price. It’s a process of offering bids, taking bids, and then selling NFT to the highest bidder.

Currently, selling NFTs to the lowest bidders is not supported yet.

Step 1: Click on Explore on the menu bar and select NFTs to see the NFT list and filter Auction status.

Or open a specific collection then check the Auction tab to see the NFTs currently on auction.

Step 2: On the NFT detail page, click Place Bid

Step 3: Enter a Bid Price then click Place Bid button

Note:

  • The input price must be greater than or equal to the starting price and higher than the current bid price

  • The input price must be less than or equal to the current balance. Otherwise, it will display a message “Insufficient funds”

Step 4: Click Confirm button on the Review Bid page to complete the bid

You need to prepare native tokens of each blockchain to pay for the gas fee

Notes:

  • You can bid more than once, but the next time must be higher than the previous time

  • The auction will be ended when duration is over, or someone has bid equal or greater than “Maximum bid”

When auction ended, there are some cases that happen as below:

Case

Non-EVM chain (Sei, Injective)

EVM chain

The user bids successfully

Dagora automatically transfers NFT item to the winner's wallet after the action ends

Dagora automatically transfers NFT item to the winner's wallet after the action ends

The user bids unsuccessfully

The user will receive the token back to the wallet.

The bid is auto cancelled

User wins but not enough token to pay owner

User's funds will be kept in the contract while bidding, so this case will not happen

System will auto find the next bidder who has enough balance to auto process the Auction.

After the Auction ended and there is no winner

The owner need to click "Cancel Auction" to claim NFT

The owner automatically get the NFT back

PreviousHow to make offer an NFTNextSelling NFTs

Last updated