Auction

There are no seller listing fees.

– The Listing Owner sets the starting bid (the amount to open the bidding). – The Listing Owner gets the bid funds less the fees by the following formula:

Bid - (Marketplace Fee + Collection Fee)

• Entering a bid amount, the Bidder is shown the amount the Listing Owner will get should their bid win.

• Each subsequent bid will trigger the refund of the previous one.

💎 Example:

• Flat Marketplace Fee is 2%

• Collection Fee is 2%

• The example currency is BNB

– Starting Bid is 0.02 BNB – Bid 1 is 0.02 BNB – Bid 2 is 0.03 BNB – Bid 3 is 0.04 BNB

Once the auction time is up, the last bid is always the winner.

Either the Listing Owner or the Last Bidder can start the asset transfer process. Either way, the two parties get their respective assets.

– The Last Bidder gets the NFT – The Listing Owner gets 0.04 BNB less 4.5% (Flat Marketplace Fee + Collection Fee) = 0.0382 BNB – Total Fee is 0.0018 BNB

If the Listing is canceled before any bids, Listing Owner isn’t charged any fees.