Hello, Manifold team. For the upcoming auction, we will use the contract as it is. It means that we can only sell on the artist’s behalf (that is not right!), but as for the future auction, we should be able to sell tokens from the owners (collectors). As for the traditional action market principles, auction curators usually negotiate with the collectors (rarely with the artists directly), and every auction is considered the second market.
The auction house is a different entity (compared to the NFT marketplaces where artists mint the first time). We have to work with the tokens that already have the provenance (traction).
Here is the typical digital art market structure:
- NFT marketplaces - artists mint tokens for the first time. (art Gallery level)
- Digital Auction houses - second-level art institutions that should only work with the minted tokens with the provenance.
It would be great if we could find the solution to this last-mile friction!