# About FomoNFT

![](https://235233614-files.gitbook.io/~/files/v0/b/gitbook-legacy-files/o/assets%2F-Mk_7_u8ZmYAgGrtC3zq%2F-Mka4q84RZuBxkgzsn7x%2F-Mka8pXGJdCMTP-IN42G%2Fdesign-ce78246a-90e0-47ff-aec5-116dbd1cfbfe.png?alt=media\&token=4568a3bc-5c4d-4ad4-b4af-54b5a4e20a0b)

FomoNFT offers an exciting format for NFT auctions. Unlike simple auctions, FomoNFT uses the **Accumulative Auction** (**AA**) mechanism:

* **Earn BNB by Placing Bids**: Bidders start to earn BNB rewards as soon as they place bids. Rewards in BNB will continue to come in until someone wins the auction.
* **Winning Bidder**: The winning bidder wins the NFT. But more importantly, the winning bidder also gets a large percentage of the sum of all bids placed during the auction. This reward can be far greater than what the bidder spent as bids. <mark style="color:orange;">**Since our first auction, winners have won 200+ BNB each time.**</mark>
* **NFT Seller**: The NFT seller gets a large percentage of the sum of all bids placed during the auction. This is usually far greater than the last, highest bid. So, listing NFTs on FomoNFT creates more value for NFT sellers. <mark style="color:orange;">**NFTs sold elsewhere for around 1 BNB frequently sell for more than 100 BNB on FomoNFT thanks to the accumulative auction mechanism.**</mark>&#x20;
* **Decentralized**: FomoNFT runs as a decentralized smart contract. There is no team to “take a cut.” Bid amounts are transparently distributed to non-winning bidders, the winning bidder, and the NFT seller.

So, start bidding on the [**current auction**](https://fomonft.app) to earn BNB! Or, if you own NFTs and would like to auction them on FomoNFT to earn amazing accumulative rewards, [**get in touch**](https://t.me/oto_).
