Business

NFT of first-ever tweet a dud in online auction

An NFT of the first tweet ever posted on Twitter was struggling to attract bidders on Thursday, with the highest offer so far just shy of $10,000—a year after it was bought for $2.9 million.

Energy & Green Tech

US to hold largest-ever offshore wind farm auction next month

The US government announced Wednesday it will auction more than 480,000 acres off the coasts of New York and New Jersey to build wind farms as part of its campaign to supply renewable energy to more than 10 million homes ...

Business

First SMS auctions for 107,000 euros as NFT

The first SMS ever sent over a mobile phone in 1992 was sold Tuesday as an NFT at auction for 107,000 euros ($120,600), the Aguttes auction house said.

Business

First-ever NFT sells for $1.47 mn at auction

The first non-fungible token (NFT) ever created sold at auction on Thursday for $1.47 million, Sotheby's said, the latest sale in the technological revolution sweeping the art market.

page 1 from 2

Auction

An auction is a process of buying and selling goods or services by offering them up for bid, taking bids, and then selling the item to the highest bidder. In economic theory, an auction may refer to any mechanism or set of trading rules for exchange.

There are several variations on the basic auction form, including time limits, minimum or maximum limits on bid prices, and special rules for determining the winning bidder(s) and sale price(s). Participants in an auction may or may not know the identities or actions of other participants. Depending on the auction, bidders may participate in person or remotely through a variety of means, including telephone and the internet. The seller usually pays a commission to the auctioneer or auction company based on a percentage of the final sale price.

This text uses material from Wikipedia, licensed under CC BY-SA