Ergo Auction House V2 update can be launched by next week

  • Ergo Auction House V2 is near to its roll out
  • The update is a fork of the Auction House Classic version
  • It is expected that the AH V2 will bring some unique features
  • Users can now bid on auctions using custom crypto tokens

Ergo Auction House V2 update is estimated to be rolled out within a couple of weeks. Recently, the official team behind the blockchain project published an official statement. The team cited that the most awaited update is near to its launch. However, the specific launch date is yet to be announced, as the roll out depends on the development of the update and the ongoing testing processes. Still, the community has been found truly excited, as the update is expected to bring some unique features. Such features are also expected to attract the art world and create a larger Non-Fungible Tokens community (NFTs).

Artists delay posting until the newer UI is live

According to the team behind the blockchain, Ergo Auction House V2 is on its way. Notably, the blockchain is a fork of the original AuctionHouse Classic. Although the update is estimated to bring unique features like NFTs to attract the world of art and pop, artists seem willing to delay posting new auctions. Following the scenario, artists are expected to begin posting newer auctions after the latest user interface is live. The Ergo Auction House V2 will allow the artists to set royalties percentages in their Non-Fungible Tokens.

Why Ergo Auction House V2?

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The team behind the programmable blockchain without gas fees was observing some users’ posts that were fake or ripped off Non-Fungible Tokens. The true incentive behind the upcoming Ergo Auction House V2 update is to stop such users from posting fake NFTs. Notably, being a neutral open platform, Ergo can encourage artists to educate or promote their work on the common forum to users. Ultimately, the team seeks to encourage the community to research and inform everyone regarding such malicious behaviour.

Bid on auctions using custom crypto tokens

We have observed that another unique aspect of the upcoming update is the ability to bid on Auctions using custom crypto tokens. A project initially played with such auctions using the gnomecoins cryptocurrency. Notably, these custom tokens were dropped to the bidder’s addresses once the bid passed a certain amount. 

Indeed, such a model can help artists to create a reputation that will be based on their art. Moreover, then the artists can do a special auction where bidding on regular auctions are based on their art pieces, then do a special auction where bids are only in their custom token.

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