4️⃣Auction Creator

Seamless NFT & SPL Token Auctions on Solana

The Fundly Auction Creator Tool is a powerful Web3 utility designed to enable users to create and manage decentralized auctions for Solana NFTs and SPL tokens. This tool allows project owners, NFT creators, and token holders to conduct fair, transparent, and automated auctions where participants can bid competitively for NFTs or tokens in a secure, trustless environment.

With fully on-chain execution, customizable auction parameters, and automated bid handling, the Auction Creator Tool eliminates manual trading risks and enables efficient price discovery, ensuring optimal value for digital assets on the Solana blockchain.

Why Use the Auction Creator Tool?

1. Conduct Fair & Transparent Auctions

• Enable competitive bidding for NFTs and SPL tokens.

• Ensure on-chain price discovery without centralized control.

2. Customize Auction Parameters

• Set auction start and end times.

• Define minimum bid price, bid increments, and reserve prices.

• Choose between public or whitelisted auctions.

3. Fully Decentralized & On-Chain Execution

• No middlemen—auctions run directly on the Solana blockchain.

• Ensures fair bidding without manipulation.

4. Auto-Processing of Bids & Payments

• The auction smart contract automatically records all bids.

• At auction completion, the highest bidder wins, and funds/NFTs are transferred instantly.

5. Ideal for NFT Sales, Token Offerings & Limited Edition Drops

• Sell exclusive NFTs or special-edition assets through auctions.

• Conduct token-based fundraising with competitive bidding.

Key Features of the Auction Creator Tool

✅ NFT & SPL Token Auctions – Create bidding events for digital assets. ✅ Custom Auction Settings – Define auction duration, start price, and minimum bid increments. ✅ Automated Bid Handling – The smart contract records bids, ensures fair execution, and finalizes payments automatically. ✅ Instant Payouts for Sellers – Upon auction completion, funds are released to the seller, and assets are transferred to the highest bidder. ✅ Whitelisted & Public Auctions – Set exclusive auctions for VIP participants or open auctions for the public. ✅ On-Chain Transparency – Every auction event is publicly recorded on the Solana blockchain.

How to Use the Fundly Auction Creator Tool

Step 1: Connect Your Wallet

• Visit solfundly.com/tools.
• Click "Connect Wallet" and select a Solana-compatible wallet (e.g., Phantom, Solflare).

Step 2: Select Asset Type for Auction

• Choose whether to auction an NFT or SPL token.

• If NFT: Select the specific NFT from your wallet.

• If SPL Token: Enter token details and auction supply amount.

Step 3: Define Auction Parameters

• Set Auction Start & End Time (e.g., 24 hours, 7 days, custom duration).

• Choose Minimum Bid Price (starting bid amount).

• Set Bid Increments (how much the next bid must exceed the last one).

• Optional Reserve Price (minimum price that must be met for a successful sale).

• Whitelist Feature (Restrict bidding access to specific addresses if needed).

Step 4: Confirm & Deploy Auction Smart Contract

• Click "Create Auction" to launch the auction on Solana.

• Confirm the transaction in your wallet—once approved, the auction goes live.

Step 5: Bidders Participate in the Auction

• Interested buyers place bids on the auction page.

• Each new bid must be higher than the last bid + minimum increment.

Step 6: Auction Completion & Automatic Settlement

• When the auction ends, the highest bidder wins.

• The smart contract automatically transfers the NFT/tokens to the winner and funds to the seller.

Step 7: Seller Withdraws Funds & Auction Winner Claims Assets

• Sellers can withdraw their SOL, USDC, or SPL tokens earned from the auction.

• Winners can claim their auctioned NFT or SPL tokens instantly.

Important Considerations Before Creating an Auction

🔹 Once an auction is live, it cannot be canceled unless no bids are placed. 🔹 Ensure you set a realistic minimum bid price to attract buyers. 🔹 Bidders must have enough funds in their wallets to place bids. 🔹 If a reserve price is not met, the auction can end without a sale. 🔹 All auction transactions are publicly recorded on-chain, ensuring full transparency.

Use Cases for the Auction Creator Tool

🔹 NFT Sales & Limited Edition Drops

• Sell rare or one-of-a-kind NFTs via competitive bidding.

• Conduct special auctions for exclusive community members.

🔹 Token-Based Fundraising & Presales

• Allow users to bid for project tokens before public sales.

• Enable tier-based allocations where high bidders receive early access.

🔹 GameFi & Digital Collectibles

• Auction in-game assets, skins, or collectibles.

• Let players bid for limited-time or high-value gaming NFTs.

🔹 Charity & Community Auctions

• Use auctions to raise funds for community initiatives or donations.

• Let DAOs and NFT projects sell assets for governance or charity funding.

🔹 Whitelisted & VIP Auctions

• Conduct invite-only auctions for premium collectors.

• Reward long-term supporters with exclusive access to auctions.

Fundly’s Auction Creator Tool is a powerful Web3 solution that enables anyone to create and manage fully decentralized auctions for NFTs and SPL tokens on Solana. With customizable parameters, automated bidding, and trustless settlement, this tool ensures fair price discovery, transparent asset sales, and efficient fund distribution.

Whether you're selling NFTs, conducting token auctions, launching a GameFi project, or running fundraising events, Fundly’s Auction Creator Tool makes auctions effortless and trustless. 🚀