Auctions are a great help, when you want to find a buyer for your product, but there always is a hassle involved in managing auctions on multiple marketplaces. Shelf.Network aims to simplify this process. The team is building a new distributed network to synchronize an auction instance on several interconnected platforms.
The platform was already tested in 2015 and 2016 on Ukrainian market with governmental partnership, and now the team plans to expand to three markets in Eastern Europe. One of the target markets is a secondary car market. They have already partnered up with four marketplaces and six leasing companies.
Now the company want to scale its services and add Western European suppliers. This will allow it to enter huge-revenue automotive auctions market. The preparations for opening for general public and tokenization are also underway.
Essentially the project is about creating a more realistic and widespread case of blockchain utilization, so that general public will see the benefits of blockchain and its usefulness up close and personal, not just as another gimmick or a digital collectible. And, of course, auctions can garner great profits, especially with the tools that the company promises to implement in future, such as one-click auction marketplace deployment and adding commodity and collectibles trading, beyond the current automotive trade scenario.