Gate.io NFT Auction Week, $20,000 prize pool to be won(the fourth day)
2021-06-26 03:24:00 UTC
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In order to celebrate the official launch of Gate.io NFT Magic Box and allow users to better experience the "auction" function of the platform, Gate.io is launching the NFT Auction Week. This series of limited edition works of art comes from contemporary artists, including Chinese painting, gouache painting, oil painting, meticulous painting and other categories. It has high artistic and collection value, and aims to cultivate and support a team of emerging artists. Participating users in this auction win a share of $20,000.
Today’s NFT Auction
14 NFTs will be auctioned in the first phase of the NFT auction week. The NFT’s auction are displayed as follows:
"Eyes Twinkle with Pleasure" Auction Link：https://www.gate.io/en/nft/2869
"Sleepy" Auction Link：https://www.gate.io/en/nft/2856
Auction is in progress
"Dreamland One" Auction Link：https://www.gate.io/en/nft/1623
"Dreamland Two" Auction Link：https://www.gate.io/en/nft/1625
"Colorful Cloud Field" Auction Link：https://www.gate.io/en/nft/1980
"The Old Man and the Sea" Auction Link：https://www.gate.io/en/nft/1972
"Skin" Auction Link：https://www.gate.io/en/nft/1110
"Watching Fish Two" Auction Link：https://www.gate.io/en/nft/1137
Lot Preview
Schedule of The NFT Magic Box for auction week is as follows
1.Duration:
June 23rd 10:00-June 30th 10:00（UTC）
2.Rules:
Activity 1: Participate in NFT auction bids and win 15,000 points
During the event, the users participate in the auction of designated NFTs on the platform for the first time, and the successful bid will receive $10 points. First come first served.
Activity 2: Participate in the auction of the top three NFTs, and win a share of $5000
During the auction week, the top 3 out of 14 NFTs will be chosen based on the final amount raised. All users who participate in the auction will have the opportunity to share the $5,000 prize pool. The distribution or rewards will be based on the proportion of the bid. The prize pool is as follows:
TOP 1: Share 3000 USDT
TOP 2: Share 1500 USDT
TOP 3: Share 500 USDT
3. Auction Method
During the event, 2 NFTs will be selected for auction each day. One NFT will be auctioned at the same time each day; the other NFT will be auctioned at random.
The starting price of the random NFT auction will begin at 1 USDT, and there is no maximum price.
Note: 2 NFT’s will be auctioned every day for 7 consecutive days
4. Notes:
1. Activities 1 and 2 can run simultaneously. If there are multiple bids by the same user in Activity 2, the highest bid will be the winner.
2. No service fee will be charged for bidding, and no fees will be deducted for unsuccessful bidding;
3. Ensure that the amount of funds in the account is greater than the bid amount, and hold GT/USDT/BTC before bidding;
4. Points: points will be used to deduct spot and contract trading fees, 1 point deducts $1 trading fee, points are not transferable, and the use period is one month;
5. The successful bidder will get a combination of lots and be deducted from the bidding fee.
6. Auction process and rules
The NFT auction function effectively maximizes the expected revenue or goal of the auctioneer, and achieves the highest value of the artwork. At the same time, a fair and just bidding mechanism is given to users (bidders).
Buy "auction" works, select the product you want to bid, and view the auction details, including the deposit, starting price, increase, delay period, and auction time, etc., and click "bid" to participate in the auction.
In the bidding process, the bidding of the auctioned works increases in order from low to high according to the bidding ladder, and the highest bidder can successfully bid.
Gate.io reserves the right of final interpretation of this event.
Today’s NFT Auction
14 NFTs will be auctioned in the first phase of the NFT auction week. The NFT’s auction are displayed as follows:
"Eyes Twinkle with Pleasure" Auction Link：https://www.gate.io/en/nft/2869
"Sleepy" Auction Link：https://www.gate.io/en/nft/2856
Auction is in progress
"Dreamland One" Auction Link：https://www.gate.io/en/nft/1623
"Dreamland Two" Auction Link：https://www.gate.io/en/nft/1625
"Colorful Cloud Field" Auction Link：https://www.gate.io/en/nft/1980
"The Old Man and the Sea" Auction Link：https://www.gate.io/en/nft/1972
"Skin" Auction Link：https://www.gate.io/en/nft/1110
"Watching Fish Two" Auction Link：https://www.gate.io/en/nft/1137
Lot Preview
Schedule of The NFT Magic Box for auction week is as follows
1.Duration:
June 23rd 10:00-June 30th 10:00（UTC）
2.Rules:
Activity 1: Participate in NFT auction bids and win 15,000 points
During the event, the users participate in the auction of designated NFTs on the platform for the first time, and the successful bid will receive $10 points. First come first served.
Activity 2: Participate in the auction of the top three NFTs, and win a share of $5000
During the auction week, the top 3 out of 14 NFTs will be chosen based on the final amount raised. All users who participate in the auction will have the opportunity to share the $5,000 prize pool. The distribution or rewards will be based on the proportion of the bid. The prize pool is as follows:
TOP 1: Share 3000 USDT
TOP 2: Share 1500 USDT
TOP 3: Share 500 USDT
3. Auction Method
During the event, 2 NFTs will be selected for auction each day. One NFT will be auctioned at the same time each day; the other NFT will be auctioned at random.
The starting price of the random NFT auction will begin at 1 USDT, and there is no maximum price.
Note: 2 NFT’s will be auctioned every day for 7 consecutive days
4. Notes:
1. Activities 1 and 2 can run simultaneously. If there are multiple bids by the same user in Activity 2, the highest bid will be the winner.
2. No service fee will be charged for bidding, and no fees will be deducted for unsuccessful bidding;
3. Ensure that the amount of funds in the account is greater than the bid amount, and hold GT/USDT/BTC before bidding;
4. Points: points will be used to deduct spot and contract trading fees, 1 point deducts $1 trading fee, points are not transferable, and the use period is one month;
5. The successful bidder will get a combination of lots and be deducted from the bidding fee.
6. Auction process and rules
The NFT auction function effectively maximizes the expected revenue or goal of the auctioneer, and achieves the highest value of the artwork. At the same time, a fair and just bidding mechanism is given to users (bidders).
Buy "auction" works, select the product you want to bid, and view the auction details, including the deposit, starting price, increase, delay period, and auction time, etc., and click "bid" to participate in the auction.
In the bidding process, the bidding of the auctioned works increases in order from low to high according to the bidding ladder, and the highest bidder can successfully bid.
Gate.io reserves the right of final interpretation of this event.
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Gate.io Team
Jun 26th, 2021
