AUX: The Internet of Auctions


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We’ve been heads-down building a team, product, and platform for the past six months, and we’re pleased to publicly announce the initial version of AUX: a token and medium to conduct auctions, built on top of Ethereum.

AUX (Augmented Exchange) is not simply “eBay on the blockchain.” While we will run our own auction house and establish contracts for several basic auction types, we’re building AUX as a platform where multiple houses can develop bespoke auction contracts and construct innovative mechanisms for a wide range of assets, crypto-native and otherwise. The nature of the blockchain ensures that auction data on the platform do not become siloed in any one house, but rather become available to bidders and sellers alike, allowing them to factor in past bidding strategies, auction reserves/fees, bids, (re)listings, market cycles, and more to determine the best contract, demographic, and timing for any given auction. Ultimately, we believe this will bring efficiency to crypto markets and help maximize expected returns for participants.

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AUX aims to be the Internet of Auctions: an ecosystem for fair, transparent, and programmatically enforceable exchanges that encourages price and valuation discovery, promotes innovation through the creation of new auction formats, and opens up a new marketplace for digital goods. You can follow us here, on Twitter, on Facebook, or check out our site to read our white paper and sign up for updates. We hope you join us in our journey to our ICO, the genesis of the AUX platform, and beyond.

— The AUX Team

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