GUIDE to Collect Gallery Auction
As the Auctions are on their way, it’s time to reveal a brief tutorial on how to use it efficiently and without the hassle:)
What do I need to make a bid?
As soon as the User enters the Auction, he has to use available RACOON Coins to make a bid.
How much does it cost?
You have to put up as many RACOONs as you consider is enough to occupy a desirable exhibition place.
Meanwhile, there is no cap on how many tokens should be staked.
What is the starting price?
Starting price for the 1st Auction is 5000 RACOONs.
We will manually set up the starting price according to the proximity to the center of the room. The closer to the center — the higher the starting price is.
⚠️Pay attention that the bid increment comprises 5%.
It allows you to be upped to the top of the auction queue until the next highest bid is offered.
What is the starting point of the Auction?
The opening bid will be the areas of Hall 1 (the block referenced in the image below).
The rule comes down to retention of the top position as long as possible until the preferable Gallery Place is sold.
What is the time frame for each auction?
The duration of each Auction may differ due to the proximity to the center of the room.
⏰The first Auction, on August 26th, will last 8 hours.
The next Auction will begin until every Key-Owner gets his Slot in the Gallery.
How many Auctions are we going to open?
We are starting with 1 Auction at a time.
In the future, there will be several auctions happening simultaneously so far as there are going to be a total of 10K keys minted.
⚠️Please, pay attention: there is no cooldown between bids during the Auction.
You can join whenever you want, provided that you handle all the proper attributes to enter.
Even if you have several keys, you stand a chance to try your luck and participate in the correlative number of Auctions.
What if I want to quit the Auction?
In case you didn’t manage to get a place in the Gallery, you will have your RACOONs and Key fully refunded.
📍If there is little time left until the end of the auction, and you see that you cannot attain the place, be sure to click “Exit” to get your RACOONs back to your balance.
Therefore try the next race to amplify your result!
I made a bid. What should I do next?
Taking this step, you can offer a bid rise or just watch how events unfold.
The auction is over. What is next?
After Gallery NFT Space is owned, don’t put it on the back burner — claim it right away to receive access.
Hope you will find this article useful for your future participation in Auctions from Collect!
We wish you good luck and high bids!