Shelf.Network proposes model for decentralized NFT auctions

Shelf.Network’s decentralized auction plans to launch an NFT marketplace. ForkLog reported this, citing founder Lasha Antadze.

According to him, the platform’s technology is adapted for synchronizing non-fungible token auctions.

“We can already launch NFT marketplaces, but the most important thing is that we can engage in arbitrage through synchronous auctions of the same asset across different systems,” Antadze said.

He added that the company is in talks to use Shelf.Network’s technology with representatives from the music industry and gaming applications.

Founded in 2017, Shelf.Network is developing a decentralized ecosystem for international secondary car sales. In the last two months the company completed auctions totaling $15 million. The network is used by about 950 car dealers.

In November 2020, Shelf AP opened trading blockchain platform for selling used cars from Japan to countries in Asia and Oceania.

In February 2021, Shelf.Network secured bridge financing of $600,000 from an unnamed investor.

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