You can currently sell digital assets with custom ERC 20 tokens in 3 ways on your Web3 marketplace.
- Flat Rate: A flat rate model is when sellers list their items for a fixed price, and buyers can purchase them at that price. This is similar to how traditional retail stores sell items, where the price is clearly marked on the product. This is the most straightforward method of selling items online, as both the buyer and seller know exactly how much the item will cost.
- Auctions: An auction model is when sellers list their items for bidding, and buyers can place bids on the item. The highest bid at the end of the auction wins the item and is required to pay the final price. This model is great for items that are in high demand or are one-of-a-kind, as it allows the market to determine the final price. This can also be done in a reverse auction where a buyer posts a project and sellers bid on it.
- Accept Offers: An accept offers model is when sellers list their items and allow buyers to make offers on the price. The seller can then choose to accept or reject the offer. This model is similar to negotiating a price in person, and it allows for more flexibility in pricing and can lead to a mutually beneficial outcome for both the buyer and seller.
All these models are supported on your online marketplace depending on the seller’s preference.