Monsterra is launching one of the hottest NFT auction events to usher community members into the New Year. This sale will be different from the traditional methods as participants can evaluate specific digital assets before they make their offer. The team wants to ensure that users make informed decisions before making purchases.
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Appraisal. Bid & Win Exclusive #Mongens
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What you need, we have it.
Like & RT to share with your friends NOWâť— pic.twitter.com/ojStH35R4E— Monsterra Game (Android Available NOW) (@Monsterra_P2E) January 4, 2023
Details of the Monsterra NFT Auction
Monsterra NFT auction will begin by 8:00 AM UTC on the 4th of January. This exercise will continue till 8:00 AM UTC on the 9th of January. During this period, players will have a chance at the following:
- Purchasing one or more of the 5 unique Mongens from any of the five races that have perfect pureness.
- Earn extra $MSTR rewards.
According to the announcement, one asset will be made available for grabs. This will take place on the Monsterra Events Page. While sharing this update, the team did not mention the starting price for each item. However, they stated that users must stake $MSTR before they can participate in this event.
For interested investors, these are the rules for participating in the Monsterra NFT auction:
- Bidding begins 24 hours before the item becomes available. The process will continue till the end of the day. However, placing bids within the final 30 minutes of a session will extend the auction time by an additional 30 minutes. This process is continuous and extensions can be triggered indefinitely.
- Regarding the pricing format, investors must bid 10% more than the current offer. The winner is the player with the biggest offer at the end of each session.
- Meanwhile, those who lose out on the bidding will receive up to 10% of the amount that they bid.
The profit sharing formula below shows a better explanation:
Estimated Profit = (((Your Bid – Previous Bid)/Previous Bid)/10)*Your bid
Note: Maximum of (Your Bid — Previous Bid)/Previous Bid = 1
How to Participate:
Follow these simple steps if you want to join the NFT auctions:
- Visit the Monsterra events page.
- Choose the Mongen you prefer.
- Place your bid by entering the price you would like to pay. Remember that it more be 10% the value of the current offer. Meanwhile, you can bid more to outwit the competition.
- Click on “bid” now to complete the process.
- Navigate to “My Bids” to monitor your offers and check if another investor has outbid you.
