Some Collectibles on Earniverse are sold through auctions. You place a bid, and if you are the highest bidder when the auction ends, you win. The platform pays the gas, so bidding never costs you any network fees.

Two types of auction

Earniverse has two auction types:

  • LIMIT: The auction runs until a set deadline. To prevent last-second sniping, if a bid is placed in the final 5 minutes, the deadline is extended by 5 more minutes. This gives everyone a fair chance to respond.
  • MAX: The seller sets a hidden ceiling price. As soon as a bid reaches that ceiling, the Collectible is sold automatically.

Auctions can be set up for several kinds of Collectibles, including lands and other asset types.

How to place a bid

  1. Open the auction for the Collectible you want.
  2. Click Place a bid.
  3. Enter your bid amount. Your bid must be at least the minimum allowed. The minimum is either the current highest bid plus the bid step, or, if there are no bids yet, the auction's minimum price.
  4. Confirm your bid.

How your funds are handled

When you place a bid, your funds are placed in escrow. This means they are held, not charged. You are only charged if you win the auction. If you are outbid, your held funds are released according to the auction's rules.

What can happen after you bid

  • Outbid: Another buyer has placed a higher bid. Your bid is marked OUTBID. You can place a new, higher bid if you still want the Collectible.
  • Winning: If you are the highest bidder when the auction ends, you win.
  • Withdrawal: Funds may be withdrawn under the auction's conditions.

When the auction ends

When the auction closes, the result is resolved automatically:

  • If there are bids, the highest bid is captured and the Collectible is transferred to the winner.
  • If there are no bids, the Collectible is not sold.

If you win, you have 72 hours to complete payment.

Bid statuses

You may see these statuses on your bids:

  • ACTIVE: Your bid is currently the leading or a live bid.
  • OUTBID: Someone has placed a higher bid.
  • WON: You won the auction.
  • WITHDRAWN: Your bid was withdrawn.
  • EXPIRED: The bid is no longer valid.