https://opensea.io/collection/azar
At the release of a new collection, there is a 14 day auction period, with 1 auction per day. This piece will be randomly generated at the time of the auction start. After 24 hours, the winner of the auction receives the art and the token also grants membership into the DAO. Bids placed within the last 15 minutes extends the bidding by another 15 minutes. Each day after that follows the same formula. On the 15th day, the full collection will be open for minting– first for the early access list and followed by public sale window. All pieces are randomly generated at the time of mint.
The limited edition auction pieces will be minted for each of the 14 day auction period, resulting in 14 pieces. Each artist will receive an additional minted piece as their entrance into the DAO (2 pieces in total, for each artist). 2 more pieces will be minted– 1 for the mxtter team (BLOCK::BLOCK) and 1 for the DAO treasury to hold (or use to invite new members into the DAO following a vote), so there will be 18 pieces total for each drop! 14 for collectors, 2 for artists, and 2 for the team and the DAO.
The token ID of the next drop will start at whatever the last one left off at. For example, we will start the first auction of the next drop with TARTARUS #1, which will be token ID #19.
50% goes to the DAO treasury, as well as 1 piece of the art. 40% goes to the artists, and 10% goes to Block::Block. 90% of secondary sales go to the artists, and 10% goes to Block::Block. The fee for secondary is 10%.
The mxtter team also would like to participate in the auctions for the amazing artists we feature on the platform. In order to do this fairly, we’ve agreed to bid on auctions every 3rd day. So on days 3, 6, 9, 12 of the auction (4 of the 14 auction days) – the mxtter team will also potentially be bidding to win the auction.
You may also see the mxtter team bidding early on for low amounts to qualify for the POAB (proof-of-auction-bidding) badges. The team will not bid for POABs when the price is competitive with people trying to win the auction.