VeVe to Offer 1/1 Works Through Silent Auctions
VeVe, a digital collectibles platform, is unveiling a new category of limited-edition NFTs called Artworks with an upcoming auction, the company announced in a Medium article.
VeVe will sell 1-of-1s to 1-of-5s in silent auction format, with the first auction scheduled for Aug. 17 at 3 p.m. ET. Users will have four days to bid on the NFTs and they can only have one active bid at a time (and can change the offer only once every three hours). Users can update, edit or withdraw a bid at any time. (Bidding on Veve requires KYC.)
If the winning bidder doesn’t pay, the work will be offered to the second highest bidder through email.