Bridging the gap between on-chain and off-chain, it’s expected to sell millions (USD) at Art Basel
Curios, Inc (Curios) announced the launch of its massively scalable, hybrid NFT auction platform. This new platform is a set of features integrated directly into Curios’ core technology layer that empowers any business or creator to instantly launch their own NFT marketplace.
Curios API technology layer has been powering NFT auctions since its launch in 2020, and this new release includes a number of features that enhance the bidding experience, and solve many of the problems plaguing the world of NFT auctions.
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As a first-of-its-kind auction platform, Curios combines smart contracts and off-chain bidding technologies to provide automation and security to the auction experience while also enabling fast-paced, massively scalable auctions that are open to anyone, even those bidders who don’t have a cryptocurrency wallet (such as MetaMask).
By opening the auctions to non-crypto bidders, Curios estimates that auctions on their platform will see a 400-500% increase in the number of bidders, and in the price that auctioned items sell for. This is based on their statistical analysis of over 1 million NFTs that have been sold on Curios platform, of which, 80.17% have been purchased using a credit card or other form of fiat payment – that’s a staggering number when you consider that virtually every other NFT auction platform only allows for crypto payments.
Curios bidding platform is a stark contrast to platforms such as OpenSea which require you to connect your crypto wallet and only allow you to bid in cryptocurrencies. As a further limitation, each bid you place requires you to “wrap” the amount of cryptocurrency you are bidding with, which is a complicated, cumbersome and time-consuming process that makes hosting a fast-paced, live auction impossible, and alienates that vast majority of potential customers.
Curios customers who have licensed the new auction platform are set to launch several auctions during Art Basel that by some predictions will sell as much as $5 million USD during the art event. This is only made possible by providing features that both art aficionados and crypto “whales” desire – Curios has done exactly this, and expects this to be a big success. Art Basel represents an exciting opportunity for Curios and its customers who will have a major presence, and will be auctioning a host of rare and valuable NFTs, including the likes of CryptoPunks and more.
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