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Aauction House

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The Aauction House

"VR Headset going for 3000 GHST"

A gotchi raises his hand.

"5000 GHST"

"VR Headset going for 5000 GHST!"

Another gotchi raises her hand.

"10000 GHST"

"VR Headset going for 10000 GHST"

The room went quiet.

"Going once"

"Going twice"

"Gone!"

"VR Headset sold for 10000 GHST!"

Contents

  1. Aauction House
  2. Aauction Mechanisms
  3. Other Features of the Aauction House
  4. Past Aauctions

Aauction House

The Aauction House is the place where aauctions take place. It can be found here.

Aavegotchi Auction House

At the top left corner of the page, users can switch between the display of live auctions or upcoming auctions.

On the left corner of the page, users can select the type of Aavegotchi assets to display:

Users could filter active auctions by their incentive level:

  • 2% Low

  • 5% Medium

  • 10% High

For more information about what these incentive levels mean, read the next section on Aauction Mechanisms.

Aauction Mechanisms

Aavegotchi aauctions are powered by the Gonnaud-Bessire-McDonaugh (GBM) auction format. First pioneered by Cryptographs back in 2019, the GBM auction is a patent-pending system, and Pixelcraft Studios has officially been licensed to use it for all Aavegotchi NFT Drops, including Haunt 2, REALM, and even Wearables.

In a typical auction, there is only one winner and everyone else loses. Many auctions don’t attract enough bidders and some get none at all. GBM™ turns any auction into a great experience where you either win or you make money.

You place a bid, and if someone outbids you, you get your bid back, plus a share from the pot called an incentive.

Aavegotchi GBM Auction

When a new bid is placed, a formula calculates how much money the bidder will earn as an incentive if they are outbid. This is customisable depending on how much you want bidders to earn. Every bidder that gets outbid earns an incentive, and the highest bidder at the end of the auction wins, with the seller receiving what is left in the pot.

Other Features of the Aauction House

Buy It Now Feature

Ever wished you could snag that must-have collectible without the wait? The “Buy It Now” option lets you do just that! As soon as an auction goes live, you can either place a bid traditionally or opt to purchase immediately at a set price. It's a straightforward, instant way to claim your desired item, and once someone hits "Buy It Now," the deal's done—there's no turning back.

The fees? Just the usual GBM rates, making sure that every participant benefits fairly from the transaction.

Setting a Starting Bid Feature

Tired of lowball opening bids? We've got you covered! Now, you can set a minimum starting bid to kick things off right.

Remember, setting a realistic starting bid is key. A 4% listing fee applies, which is only refunded against the selling or cancellation fees if the auction attracts bids that meet the starting bid price. This ensures that the auctions begin with genuine interest, helping to maintain a vibrant marketplace.

Past Aauctions