…Researched and contributed by Henry George.
The Ekos Genesis Art Collection will begin a Dutch auction of 995 unique, one-of-a-kind NFTs on May 2nd at 10 a.m. PT.
The auction will last 88 minutes and marks a special anniversary for producer Louis D’Esposito, as it is the 15th anniversary of the theatrical release of “Iron Man,” the first film in the Marvel Cinematic Universe.
During the Dutch auction, bidding will start at 10 ether (ETH) and then drop by 0.5 ETH every four minutes until the price hits 0.5 ETH.
The price will then drop to 0.2 ETH for the final eight minutes of the auction, provided that the entire collection has not already sold out.
A Dutch auction is a type of auction where the price starts high and then decreases over time until a bidder accepts the current price.
It is a common method used in financial markets, and has become popular in the NFT world due to its simplicity and transparency.
The Ekos Genesis Art Collection is the latest addition to the booming NFT market, and features unique artwork by a range of talented artists.
The collection is expected to attract a lot of attention from collectors and investors, and the Dutch auction format will add an element of excitement to the proceedings.
Overall, the Dutch auction of the Ekos Genesis Art Collection is an exciting event for NFT collectors and investors.
The use of a unique auction format and the special significance of the date makes this a must-watch event for anyone interested in the NFT market.