The auction is fully managed on-chain through a dedicated smart contract, ensuring transparency, confidentiality and regularity of execution for all parties involved. In addition to ours, NFT artworks are sold in the most important marketplaces in the crypto space where they are most likely to meet their admirers.
At the end of each auction, the amount obtained is deposited into our corporate account on a centralized Exchange for conversion to Euros. It is then moved to MIDA’s bank account, which allocates the majority of the auction proceeds to the rights holder of the physical artwork. All fees and expenses required for the execution are covered by MIDA.