This is made possible because the auction’s smart contract takes a fee from each bid – not just the winning bid.
The cumulative fees can earn sellers more than the floor price, while the winning bidder gets a huge flip opportunity on the NFT.
Whoever holds the “top bid” position for 24 hours will win the NFT – easier said than done because each bid extends the timer by 24 hours.
Would love to get your questions, critiques, concerns, and feedback.
If you want to participate in the first auction, go here https://app.nftdeals.xyz/auction2/0xf2c50dA3C1462873d8604a2E9Dc92FcC6f80924a (you'll need Wrapped ETH).
