Auctions

Buy a Key to Get the NFT You Want

When you win an auction, you get the Safebox Key for that NFT.

With the Key, you can redeem the actual NFT by redeeming :

• the Key

• 1M µtokens

So auctions let you buy keys to get specific NFTs - not random ones.

Since 1M µtokens is pegged to floor price, the Key's value represents Premium over floor.

Isolate Exposure to Coveted Traits

Auctioning Safebox Keys allows isolating exposure to specific rare and in-demand traits.

Owners can choose to auction Keys for their NFTs with the most promising attributes poised for appreciation.

As a bidder, you can target Keys tied to traits you believe will become more scarce and valuable over time.

Power Bidding Extends Auctions

If a bid exceeds the previous bid by a significant amount, the auction can extend up to 24 hours. This gives more users globally a chance to evaluate and participate.

Power Bidding enhances accessibility, competitiveness, and price discovery. The highest bidder wins the Safebox Key, granting redemption rights over the auctioned NFT.

Auctions bring transparency and efficiency to obtaining ownership of Flooring Protocol's most elite NFTs.