Auctions allow investors to buy and sell their NFTs.
As the owner, you can choose how you would like to list your NFT. The listing options are between a reserve auction (which last anywhere from 1 to 10 days, once the reserve price has been met) or you can choose to set a "Buy it now" price, which will bypass the auction process and transfer ownership once the price has been met.
We leave that choice to you as the owner of the NFT. If you change your mind and want to change how your NFT is listed, you can do this, before a reserve auction starts.
Are there listing fees?
Otis doesn’t charge anything for the vaulting services but charges a 5% royalty fee on every resale of the item.
How do I get my item from an auction?
If you are the owner of any NFT from the Otis House collection, you can redeem the NFT for us to ship to your physical address. Currently, there are no fees to withdraw, but the owner is responsible for paying any applicable shipping costs.
Please contact our team ([email protected]) with the following:
Wallet Address (with the NFT)
We will follow up with a quote for shipping and instructions for sending the NFT to our wallet, which we will then burn.
If you have any questions about how Otis works or your Otis account, please don't hesitate to give our support team a shout on the app or via email at [email protected].