The digital auction market is rapidly developing and actively embraces all the latest achievements and best practices from both traditional finance and the world of cryptocurrencies. Recently, non-fungible tokens – NFTs -have become more and more popular and important. […]
The cryptocurrency market remains uncharted territory for many investors and businessmen. This is due to the sheer size of the market, with its multiple cryptocurrencies, and its volatility. Recently, however, there’s been a shift, as more entrepreneurs have become more willing to put their money into crypto. Bitcoin and Coronavirus, in particular, seem to be a pair often talked about. In fact, a recent report on CNBC states that ever since the Coronavirus Bitcoin values have been on the rise. This is because big investors started purchasing it. Now, the value of a single bitcoin is over $30,000, making it a more appealing option for mainstream investors. How much of this apparent surge is due to the effects of the pandemic? But note that it isn’t just Bitcoin Coronavirus has affected, but cryptocurrencies all across the crypto market. In this article, we’ll be laying out the positive and negative effects of the interplay between Coronavirus and cryptocurrency. […]
Auctions are gradually becoming an increasingly important component of the global economy. They have ceased to be a highly specialized tool suitable only for limited categories of goods - auctions are being used more widely and in new formats. Even the very conservative Nobel Committee acknowledged this trend. As well as the Bank of Sweden, which finances the prize and awards the Nobel memorial prize in Economics. In 2020, it will be awarded to Paul Milgrom and Robert Wilson for “improving auction theory and inventing new auction formats". It is important to note that the Nobel prizes are awarded not for theoretical research, but for their practical implementation. And Milgrom and Wilson have been implementing new auction formats for many years and “accustoming” a plethora of new industries to auctions. Milgrom's achievements have become particularly important in areas where “traditional” auctions have consistently faced issues - selling radio frequencies, selling places in search results, and other auctions where buyers cannot be sure of the benefits of the asset they receive. Because of this uncertainty, participants lower their bids or refuse to participate at all. This is the so-called “winner's curse” that has plagued auction mechanisms since time immemorial and limited their applicability. Nobel memorial prize in economic sciences winners managed to find a solution to this problem. It sounds simple - for every type of asset being sold, the auction model should be developed individually, taking into account all the features of the market, its players, and the product itself that [...]
