A Sample Auction
Last updated
Was this helpful?
Last updated
Was this helpful?
To help demonstrate how bidders on FomoNFT can earn a stream of income in BNB, here is a complete example. Here, Player A, Player B, and Player C placed bids at 0.3 BNB, 0.303 BNB and 0.30603 BNB, respectively.
As bidding progresses, Player A would receive 3 rewards (from his own bid and bids from Players B and C). Player B would receive 2 rewards (from his own bid and bid from Player C), and Player C would receive 2 rewards (from his own bid and from winning the auction). Rewards are proportionate to the aggregate bid amount placed by a player.
No one bids after Player C. Player C's bid will be the winning bid when the auction ends. Player C will win the NFT and receive 0.34089 BNB as the winner reward.
The NFT seller will get 0.11363 BNB.
