Our Distributed Auctioning network allows sellers to expand their trades by listing the inventory and conducting synchronised bidding on multiple marketplaces, thus saving time, bringing transparency to trades and getting a higher price.
We built protocol as a platform that creates two sided network of collateral assets holders (banks, financial institutions, governments) as sellers and online marketplaces as re-sellers. Currently focused on automotive industry, as there are $150 billion worth of cars are auctioned by corporate clients in Europe every year, and its done in a most inefficient way: manually with each marketplace separately, making the entire inventory siloed and acquisition process increasingly hard for a larger audience.
We’ve solved this entire process with increased transparency and eased integration using blockchain and now we are providing solution to the corporate seller. Over short period of time network is already live in 3 European countries (Lithuania, Ukraine, Georgia) and around 30 auctions are conducted daily.
Shelf.Network is a universal auctioning infrastructure and automobiles are only our first asset class and over the course of time we’ll be looking at foreclosures, collectibles and commodity trades.