It’s finally here. You’ve heard of an auction? Get ready for “The Mausoleum”.
noun — a building, especially a large and stately one, housing a tomb or tombs.
Our newest feature is an auction-house event where users can bid for NFT pieces of biblical proportions and rarity. Each of our Mausoleum Auctions operate as a no-loss bidding system. See the rules for our auctions here:
To enter the auction, bidders must pay an entrance fee into the auction house. This is to ensure that our auction goals are met. For instance, our first auction series “Patient Zero” is exclusively meant to fund our marketing initiatives. As always, half of this amount is immediately used to burn ZMBE, and the rest sent to the treasury for our Auction purposes (in this example, marketing). For those who are reluctant to enter the Auction due to the entrance fee, keep in mind that this auction is specifically raising funds for marketing, and we are burning a substantial portion of ZMBE and adding liquidity all in one! A small price to pay that may end up being a net benefit to all our users. Consider it a charitable contribution if you must. If you don’t win, here’s your consolation.
2. Bid on the NFT.
Our bidding system is unique. In order to bid on our pieces, it requires BNB-ZMBE LP rather than a single asset. This is different than other auction features on other platforms. This is most similar to the way an IFO works on other platforms. Each bid must be an amount higher than the previous bid. Once the timer has run out on the auction, the user with the highest bid wins the NFT, and the LP is returned to the other bidders.
3. As auction bidding functions as a no-loss system, all LP is returned to users who did not win, and only the winning bid will be taken. The result is that the winner is minted and awarded the NFT of BIBLICAL rarity.
The LP amount will deposit 25% into our LP storage thereby increasing the base LP of our BNB-ZMBE pair. The remaining LP from the main bidder will be unpaired, the $ZMBE will be burned, and the BNB will go to the treasury for our marketing funds. A portion of the BNB will be remitted to our artists as well, based upon the agreed upon terms with that artist.
Our First Auction Series
We are excited to bring you our first series titled “Patient Zero”, by our very own @jussjoshinduh. Not much is known about these Zombies. They may be the first ever humans to go full Zombie. Our first piece is titled “Patient Zero Alpha”.
The First Auction in our MAUSOLEUM is scheduled to begin on Thursday or Friday July 15, 16th. The exact time will be released via twitter and telegram as the dates arrive.
Our Patient Zero series will have 3 unique pieces, each of them with special meaning and considerations for future features in our RugZombie ecosystem. The opening bid for Patient Zero Alpha begins at a minimum of ~100 BNB-ZMBE LP.