How to buy on Auction

Step 1 - visit

Step 2 - connect your wallet and login to web3!

Step 3 - Select Assets

Step 4 - Select Marketplace

Step 5 - Select Auction in which you want to participate

Please take note of the various auction statuses for the Auction option.

You can use filter option for advance search

Step 6 - Select Make bid to participate in this Auction

Make bid button will only be available on Active Auctions

Step 7 - Enter the amount of NFT tokens you would like to purchase in this Auction, price for your bid and click Confirm.

Step 8 - Sign Transaction on your wallet.

Congratulation! You have successfully participated in Auction

Step 9 - Finalize after sale

Auction finalize function is used for the finalization of an NFT auction initiated by the creator. This function is called after a specified time has elapsed or after all NFTs have been sold.

The main purpose of this function is to calculate and settle payments for the sold NFTs. Within the function, the funds for the sold NFTs are transferred to the auction operator's account. It should be noted that, according to the auction rules, a portion of the payment may be reserved for the NFT creator (in the form of royalties), for the fund created by the operator (treasury), or in the form of a commission for the auction partner (referral).

If the Auction sale finalize function is successful, it means that the auction has been completed, the funds have been transferred to the operator's account, and the NFTs have been assigned to the buyers addresses.

In case of failure, the NFTs will be returned to the operator's contract.

Step 10 - Auction Finalize by Depositor

Finalize it to ensure a smooth transaction. This can easily be done on the Marketplace tab of your account. Finalizing an auction involves confirming the sale and sending payment.

Step 11 - select the arrow icon

Step 12 - access your Profile

Step 13 - select Marketplace from your profile and click Finalize

Step 14 - Confirm Finalize auction

You must finalize the Auction, whether it ended successfully or not.

Finalization successfully ended auction will cause actions described in below table.

Finalization unsuccessfully ended auction will cause return of all BUSD deposited from INS contract to depositor.

Tokens that you purchased during the Auction will be sent to you

Step 15 - Sign Transaction on your wallet

Congratulations! You have successfuly finalized the auction

Finalizing an auction is an important step in the transaction process, ensuring that both the buyer and seller have fulfilled their obligations and the transaction is complete. By finalizing the auction on NFT, the seller is indicating that the item has been successfully sold and the buyer now owns the digital asset.

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