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Gate.io NFT Auction Week, $20,000 prize pool to be won

2021-06-23 10:32:09Read:683136

In order to celebrate the official launch of Gate.io NFT Magic Box and allow users to better experience the "auction" function of the platform, Gate.io is launching the NFT Auction Week. This series of limited edition works of art comes from contemporary artists, including Chinese painting, gouache painting, oil painting, meticulous painting and other categories. It has high artistic and collection value, and aims to cultivate and support a team of emerging artists. Participating users in this auction win a share of $20,000.

What is NFT?

June 23rd 10:00-June 30th 10:00(UTC)


Activity 1: Participate in NFT auction bids and win 15,000 points
During the event, the users participate in the auction of designated NFTs on the platform for the first time, and the successful bid will receive $10 points. First come first served.

Activity 2: TOP 3 in the bidding list share $5,000 in Rewards
During the auction week, the top 3 out of 14 NFTs will be chosen based on the final amount raised. All users who participate in the auction will have the opportunity to share the $5,000 prize pool. The distribution or rewards will be based on the proportion of the bid. The prize pool is as follows:

TOP 1: Share 3000 USDT
TOP 2: Share 1500 USDT
TOP 3: Share 500 USDT

3. Auction Method
During the event, 2 NFTs will be selected for auction each day. One NFT will be auctioned at the same time each day; the other NFT will be auctioned at random.
The starting price of the random NFT auction will begin at 1 USDT, and there is no maximum price.

Note: 2 NFT’s will be auctioned every day for 7 consecutive days

4、NFT Auction
14 NFTs will be auctioned in the first phase of the auction week. The NFT’s from the first day of auction are displayed as follows:

About the Author:
Hu Guidong was born in Zhangjiakou, Hebei province in 1984. He graduated from the Central Academy of Fine Arts in 2008 and lives in Beijing. Like many painters born in the 1980s, his oil paintings accumulate their entire emotional power, creating a dreamlike spiritual world full of symbolism one after another.

Work attributes---material:oil on canvas; core size: 30x40cm
“Dreamland One" Auction Link:https://www.gate.tv/en/nft/1623
“Dreamland Two" Auction Link:https://www.gate.tv/en/nft/1625

5. Notes:
1. Users can participate in two activities simultaneously;
2. No service fee will be charged for bidding, and no fees will be deducted for unsuccessful bidding;
3. Ensure that the amount of funds in the account is greater than the bid amount, and hold GT/USDT/BTC before bidding;
4. Points: points will be used to deduct spot and contract trading fees, 1 point deducts $1 trading fee, points are not transferable, and the use period is one month;
5. The successful bidder will get a combination of lots and be deducted from the bidding fee.
6. Auction process and rules
The NFT auction function effectively maximizes the expected revenue or goal of the auctioneer, and achieves the highest value of the artwork. At the same time, a fair and just bidding mechanism is given to users (bidders).
Buy "auction" works, select the product you want to bid, and view the auction details, including the deposit, starting price, increase, delay period, and auction time, etc., and click "bid" to participate in the auction.
In the bidding process, the bidding of the auctioned works increases in order from low to high according to the bidding ladder, and the highest bidder can successfully bid.

6. Lot Preview
Tomorrow we will launch "Colorful Cloud Field" and "The Old Man and the Sea", so stay tuned!

Gate.io reserves the right of final interpretation of this event.

Gate.io is an established exchange that holds integrity, transparency, and fairness to a very high standard. We charge zero listing fees and only choose quality and promising projects. Our exchange consists only of 100% real trading volume. Thanks to everyone who has joined us in our journey. We always intend to improve and innovate to reward our users for their continuous support.

Gate.io Team
June 23, 2021

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