How it works?
WAX Arena is a gamified auction system created by 3DK Render for WAX Blockchain.
Offer your assets from a base price and set a duration for the auction. The highest bidder will win the asset.
In order to create an auction, it is necessary to send the assets to the deposit.
Each bid must be increased by a minimum setup in smart contract
Each time a bid is placed, the amount of the difference between the current bid and the previous bid is distributed as follows:
- 10% to the previous bidder.
- X% to the author (as stipulated in the collection).
- 3% to the Market.
- 0.5% for the NFT smart contract.
- The rest for the owner of the asset (60% - 86%) depending on the author's commission.