Decentralized auction is a newly added application in the ABCMETA metaverse land, and it is also a milestone towards the Web3.0 world.
Before the emergence of decentralized auctions, ABCMETA also had a bidding game where participants bid in rounds for an auctioned object. When there are not enough bids in the latter round, the auction objects will be sold to the highest bidder from the previous round; if enough bids are completed in the latter round, indicating the high interest in bidding, and the principal of the participants in the previous round will all be returned. At the same time, they will receive a 5% reward of the principal given by ABCMETA.
Among them, ABCMETA-LAND is also one of the subject matter of the auction. Once ABCMETA-LAND is obtained in the auction, the landlord not only can apply for a decentralized community-create collection, but they can also stake ABCMETA-LAND, and receive an M-BOX and earn rewards everyday. Extra profits can be earned through opening or trading the daily M-BOX received. Each ABCMETA-LAND has its own exclusive identity and land owners have the opportunity to get priority in all airdrop activities. Hence, the value of ABCMETA-LAND is tremendous. However, the above bidding method is still in the realm of traditional bidding and the bidding funds also need to be topped up to ABCMETA beforehand, which is similar to traditional centralized exchanges such as Binance, OKX, CoinBase, etc. All the digital assets are not in the hands of the user because the private key corresponding to the public key of the digital assets is in the unified account of the exchange, and every transaction you initiated is done by the centralized exchange, which is not transparent and untraceable.
It's time to transition to Web 3.0!
The possibility of creating unlimited value: decentralized auction. All digital assets participating in the decentralized auction are directly from the users’ own wallet, and the auction results are also executed entirely by the Blockchain’s smart contract. This effectively avoids all the risks that a centralized platform may bring, and is transparent, traceable and more playable. For example, in the decentralized auction of land, you can participate in the auction with only 9.9 USDA. You can directly initiate a transfer from your wallet to the land auction contract, and then the smart contract determines whether the land auction contract has received other transfers within the next 15 minutes. If not, the wallet address you participated in the auction will receive a piece of land NFT, ERC721 digital assets; if there is a transfer within 15 minutes, then your wallet will receive 1 to 5 random land fragments and 100 land fragments can be synthesized into one piece of land. This decentralized auction of the land is available to all users and we already have 20 users obtained ABCMETA-LAND in just 5 days!
There is also the WETH decentralized auction that has been launched in recent days (WETH is the ERC20 standard token of ETH on the Polygon chain). Only 1,000 META is needed to participate in the auction. Again, the user's wallet transfers to the WETH auction contract, and then the smart contract determines whether the WETH auction contract has received other transfers within the next 10 minutes. If not, the wallet address participating in the auction will receive 0.1WETH; if there is a transfer within 10 minutes and the wallet address that does not receive 0.1 WETH after accumulative bidding for 10 times will receive 1 to 5 random land fragments. The most interesting thing about this auction is that 1,000 META is currently worth about 0.9 USDT, while the value of 0.1 WETH has exceeded 130 USDT, and the profit has exceeded 100 times. Therefore, in just 3 days, the number of bids has exceeded 1,000 times.
Regardless of whether it is a land auction or WETH auction, under the blessing of decentralized management, the amount of participation and the value created, as well as the value brought to ABCMETA, are enormous.
Decentralized auction is the big bang of the Web3.0 universe, constantly expanding the boundaries of the ABCMETA metaverse, which cannot be restrained and stopped.
Decentralized auction is just the beginning. Next, ABCMETA will evolve to a Web3.0 metaverse where there are no users' digital assets are stored on the platform and all applications participate via decentralized wallets. The value created by users eventually returns to all contributors in the form of META airdrop META... and all of this is currently happening.
Experience, enjoy with ABCMETA …