NFT Auction

The NFT Auction is divided into ships auction, parts auction, hull auction and Master Ape auction. There is no difference among the Four auction rules.

It is worth noting that: when posting an auction for parts, you need to enter the unit price and quantity of the parts, and when bidding in the auction marketplace, Current Bid refers to the total price (unit price * quantity).

The website supports users to precisely search for ships with corresponding numbers by Token ID. Ships and parts are categorized mainly by category and status. They are also sorted by six dimensions: Newest NFTs, Newest Price, Price: Low to High, Price: High to Low, Ending: Soonest and Ending: Latest. It is convenient for users to quickly find and precisely locate the lots.

The rules of the Triathon auction marketplace are very innovative and interesting. Each new bid must be 10% higher than the previous bid, of which 4% goes to the previous bidder, 2.4% to the auction publisher, 1.6% to the rewards pool and 2% to the platform's eco-fund, meaning that everyone who participates in the auction receives a profit. The more times you participate in an auction, the more rewards you will receive.

Auction rules

The auction for each NFT will last for 6 hours; each bid will give the auction item extra 5 minutes for auction.

The auction item is automatically obtained at a premium of 10%. Once the auctioneer is out the amount of that bidder will be returned.

The allocation of 10% premium:

A) 24% will go to the auction poster;

B) 40% will go to the previous winning bidder;

C) 16% will be put into the prize pool for the last bidder;

D) 20% will be distributed to the Ecosystem Foundation.

The premium will be given once a new bid is placed; when the winning bidder claims the NFT, the prize will be given at the same time.

For example:

Tom listed a Daemon NFT on the Market, and the initial auction price was 100 Trias.

Alice places the first bid, and her bid price is 110 Trias which is the initial auction price.

Bob places the second bid. His bid price should be 10% higher than the previous one. So Bob’s bid price should be 100 + 110*10% = 121 Trias.

As a result, Alice will get 40% from the premium, that is (121-110)*40% = 4.4 Trias.

Tom, the creator, will get 24% from the premium, that is (121-100)*24% = 5.04. Trias

The prize pool will get 16% from the premium, that is (121-100)*16% = 3.36 Trias.

The Ecosystem Foundation will get 20% from the premium, that is (121-100)*20% = 4.2 Trias.

And Alice’s bid will be refunded in full.

If there are new bidders joining in, rewards will be distributed according to rules above. Users who won a bid will get rewards from the prize pool when they claim the NFT.

The 20% of the premium that is allocated to the Ecosystem Foundation will be used:

• as incentives for users who participate in testing;

• to promote the cooperation projects of the ecosystem;

• for Triathon project operation and market promotion.

NFT Auction in Triathon Market

If you are a seller

Step 1 Open https://www.triathon.space and connect to your wallet.

Step 2 Click Connect wallet on the right top.

Step 3 Click My NFT and select the NFTs you want to auction, Click "Auction".

Step 4 Enter your selling price and click Auction.

Step 5 Set Starting Bid and Initial Auction Time

Step 6 Click Confirm

Now, your NFT is on the Triathon NFT auction market. You're starting a fun auction journey. If you bid before the end of the countdown, your NFT will be sold. Then you can click Claim to get your TRIAS.

If you are a buyer

Step 1 Open https://www.triathon.space/ and connect to your wallet.

Step 2 Click on Dungeon-Market to go to NFT Auction market.

Step 3 Select the NFT you want to buy and click to go to the auction details page.

(You can search for Token IDs to find specific NFTs when you make your selection, or you can filter out NFTs that are not in your selection by category, status or sorting).

Step 4 Click Place a Bid.

Step 5 You can view the bid history and auction rebate history in Auction History.

If you are the first bidder, you will start from the Starting Bid; if not, your bid price is the previous price plus a premium of 10%.

If no higher bid is placed by the end of the auction, you will get the NFT. If someone offers a higher price, your bid will be refunded in full and you will receive 40% of the premium as auction commission.

Note: Both seller and buyer need to claim the NFT at the end of the auction. If one party claims the NFT or the designated amount of premium, he/she will trigger the contract setting and the other party will get the NFT or the designated amount of premium automatically.