Bounce Brand, a leading on-chain auction platform, in collaboration with SeoulAuction Blue and BounceBit, is organizing a groundbreaking auction where, for the first time in history, a painting by Claude Monet will be sold using blockchain technology. The masterpiece Paysage, authenticated by SeoulAuction Blue, South Korea's largest auction house, is set to go under the hammer.
The Auction Process
The auction consists of several stages:
- Farming Memeory Coins: Participants can stake $AUCTION and $stBB tokens starting November 18, earning Memeory Coins based on the staking duration and volume.
- Price Speculation: From November 18 to 19, users can guess the final price of the painting by placing bids for 10 $AUCTION or 500 $BB. A prize pool of 888 $AUCTION and 8,888 $BB will be shared among participants with the most accurate predictions.
- Main Auction: Beginning November 19, the primary auction will use an English auction format with a starting price of 0.25 ETH. The winner will be the highest bidder whose offer remains unbeaten for six hours.
After the auction concludes, 184 million Memeory Coins ($MEMEORY), symbolizing Monet's birth year of 1840, will be issued and distributed as follows:
- 2.5% for $AUCTION stakers.
- 2.5% for $stBB stakers.
- 1% to the auction winner.
- 9% among all auction participants except the winner.
