ARTSY DeFi
  • ARTSY DeFi
  • ARTSY Ecosystem
    • NFT Marketplace
    • Lending and Borrowing on NFT Collateral
    • ARTSY NFT Auction House
    • ART Token
  • Tokenomics of Art: The Foundation
    • Redistribution Token
    • Total Supply
    • Initial ART token distribution
  • Tokenomics of ART: The Presale
    • How big is the presale?
    • How is the raised USDC used?
    • Which chain is the presale on?
    • When is the Launch?
    • Which chain will I receive my tokens on?
    • Where will I be able to get my vested tokens?
  • Tokenomics of ART: After Launch
    • ARTSY Proceeds
    • Trading Fees on Buying and Selling
    • Celestial Buybacks
  • The workings of ARTSY Lending and Borrowing
    • The Basics
    • NFT Tiers
    • Calculating the interest
    • Profiles and Reviews
  • About Us
    • ARTSY Team
      • Chillyo
      • Excell
      • Viondar
      • Zac
    • ARTSY Partners
    • ARTSY Roadmap
  • The Protocol Treasury
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  1. ARTSY Ecosystem

ARTSY NFT Auction House

We license GBM’s fair auction system and feature it on our site. They have created a fair system where anyone who’s outbid still wins, because a fraction of the next bidder’s bid will be allocated to the previous highest bidder. This ensures that it is safer and more fun to continue bidding, resulting in a nicer bidding experience and therefore likely higher end prices. The license costs 2% and we take only 2% on top of that for a total of 4%. We split our 2% with the community 50/50 via the ART token.

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Last updated 2 years ago