How to Participate in Auctions?
Last updated
Last updated
GreedyArt auctions operate on the basis of smart contracts, ensuring unrestricted access, transparency, and equal terms for all participants.
The list of subsequent auctions is sorted based on the Initial Reward amount. The higher the amount, the closer the auction is to the top of the list.
The auction's starting bid is set by the seller, and each subsequent bid must be at least 0.01 BNB higher than the previous one. There's no limit to the maximum bid amount.
All bids made by participants are non-refundable and contribute to the auction's total pool.
Step 1 - Connect your wallet
On the main page at https://greedy.art or the active auction page at https://greedy.art/auction, connect your wallet by clicking the Connect Wallet button. Auctions are held on the BSC network, which must be added to your wallet.
Step 2. Select the auction you are interested in from the Upcoming Auctions list
You can view:
information about the NFT token on sale;
the amount the auction winner will receive (updated after each bid);
the remaining time for the current bid to win. If no bids have been made, the "Await" label is displayed;
the minimum amount for the next bid and the time it needs to hold to win;
and other auction-related data.
Step 3 - Enter bid amount
Enter your desired bid amount and click the Place Bid button. If you're placing a bid for the first time, a popup will inform you that all bids are non-refundable. If you agree with this condition, click "I agree" and confirm the transaction in your wallet.
Wait for your transaction to be accepted by the network; thereafter, your bid information will appear in the auction participation block.
When a new bid is placed, the countdown timer to the auction's end updates. The bid that remains unbeaten for the specified time becomes the auction winner.
The initial bid in the auction must "hold" to win for 3599 seconds (~1 hour). Each subsequent bid must "hold" one second less than the previous one.
