Auction Mechanism

For the resale of NFTs, an innovative auction system is in place:

  • The new offer must exceed the previous acquisition price by a predefined threshold.

  • If the new offer is high enough, the last acquirer has the option to either:

    1. Accept the sale and receive their royalties.

    2. Match the new offer by adding the price difference, allowing them to retain ownership.

  • The additional amount paid when matching an offer is redistributed as follows:

    • To the community, NFT creator, and smart contract creator, reinforcing the ecosystem.

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