We’re proud to announce that OpenSea now supports private auctions! Sellers can now give an Ethereum address exclusive rights to fulfill an order. Plus, there’s no fee on private auctions!
The way we see it, this new utility makes OpenSea an even better place to settle the type of deal that gets negotiated on Discord or Telegram.
How to create a private auction, a user guide
Creating a private auction is easy! Here’s a quick walk-through:
1. Click ‘Sell’ on the asset’s page
First, navigate to the asset’s page. Then click ‘Sell’ like you usually would.
2. Toggle the privacy setting to ‘Private’
Click on the toggle in the ‘Privacy’ section.
3. Enter the buyer’s address
Clicking the privacy toggle will give you access to a field where you can specify the address that will have the exclusive right to fulfill the listing.
4. Click ‘Post your listing’ then ‘Sign’
Next, click the ‘Post your listing’ button in the top right corner of the page. You’ll see a MetaMask popup prompting you to sign the listing. Click ‘Sign’ to finalize.
5. Share your link!
Now, you’re ready to share your link with your chosen trading partner. And don’t be afraid to share the link in a public way! To your specified counterparty, the page will appear as normal. But everyone else will see a warning advising them that the asset isn’t available to them.
But don’t worry if you find yourself on the outside of this arrangement looking in, heavy-hearted and eager to buy a privately listed item. You can always make a more tempting offer!
Why we’re excited
Private auctions allow sellers to find buyers through a variety of channels outside the OpenSea ecosystem and then use OpenSea to safely and cheaply settle the deal. Either the whole exchange happens, or none of it does. No escrow agents. No waiting, fingers crossed, hoping that your counterparty will send you the promised payment. We’re especially pleased to offer this feature to the Decentraland community, where private sales are a common part of business.
What other uses do you have for private auctions? What other features would you like to see on OpenSea? Let us know on Discord, message us on reddit, or tweet at us. Your input is priceless and we’re always happy to chat!
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