Zignaly has introduced ZigBids, an NFT auction tool designed to disrupt the non-replaceable token market.
Zignaly, a social investment platform and marketplace, announced the launch of its ZIGBids solution on Tuesday, September 20.
According to the document shared with TBEN, the team said that ZIGBids are designed to disrupt the DeFi ecosystem, starting with non-replaceable tokens (NFTs).
ZIGBids is powered by Zig Coin. ZIGBids’ auction features would allow users to place bids to secure access to their favorite products (NFTs).
The team explained that ZIGBids supports wallet connect capabilities on the highly scalable and efficient Polygon network. Users just need to connect their ZIG funded Polygon Metamask wallet to ZIGBids, transfer their tokens and start bidding on their favorite collections with a negligible increase of ZIG per bid.
Bartolome R. Bordallo, the co-founder and CEO, Zignaly noted that;
“Polygon was the perfect chain choice to bet ZIGBids on. It is highly scalable, robust and on its way to becoming the gold standard for Web3, expanding into Defi, GameFi, NFTs and beyond, which aligns so well with what Zignaly plans to do with ZIGBids.”
The team explained that ZIGBids is not committed to a single asset class. Users can use this tool for various functions as it has the ability to run auctions for anything and everything crypto including the ZIGPad slot, pre-minted NFTs, NFT whitelist slots and more.
The launch of ZIGBids comes a few months after Zignaly launched Zignaly Raffles. Zignaly is a social investment platform that allows users to invest together with the best cryptocurrency traders while paying a share of their profits.
The platform offers a wide range of features designed to provide services to investors seeking full-fledged Portfolio Management services, vault staking, IDO participation via the ZIGPad, NFT lotteries and a new Bridge solution.
The team explained that it chose Polygon for its growing product offering, which gives developers easy access to key scaling solutions, including L2 (ZK Rollups and Optimistic Rollups), sidechains, hybrid, standalone and enterprise chains, and data availability.