Generative Auction is our main primary-market sales mechanism for NFT token minting and issuance. Here users generate and acquire Numbers as NFT tokens.
Users bid and increase prices in the online auction and eventually the highest bid wins. However, everyone participating in the auction can outbid other and take over on higher numbers as a result your lower number will be gone at his auction. You need to bid higher to outbid other or wait for another auction and start from the beginning. In the auction, when the final winner has won, he has to pay the final bid and receives a Number NFT. For example, if the last highest bid was 55,66 – it is the price the winner has to pay. For the Number 55,66 he pays 55,66 Euros.
In this Demo, you can try the generative auction experience with a bot. You compete with a bot and the bot frequently outbids you, but you could still win if in the end you increase the price. No one get hurt in this Demo, no one has to pay in this playful demo version.
Read more about Generative Auction on our blog.
The fully functioning version of the Generative Auction will be introduced later. Now please go and experience Generative Art Value Auction – LINK to DEMO