The Decentralized Auction

There are a total of 45,000 Match NFTs, of which 90% will be sold through decentralized English auctions, while the remaining 10% will be reserved for community building and team incentives. Match NFTs are categorized into three types: α, β, and γ. These types have different mining weights in Social Match Staking (SMS), with weights of 1.1:1.2:1.3 respectively.

1. How to Participate in the Decentralized English Auction for Match NFTs?

Introduction to the Decentralized English Auction

The auction is conducted on the blockchain via a smart contract with random blind bidding, ensuring fairness and transparency.

There will be a total of 10 auction rounds, with 4,050 NFTs available in each round.

Participants can stake RFG in the RFG Meme Pool to increase their chances of obtaining γ NFTs. The initial probability of acquiring a γ NFT is 20%, which can be increased to a maximum of 50%.

Pricing Mechanism for Each Auction Round

The initial starting price for the first round is set at 70 USD. The final price of each auction round will become the starting price for the next round, driving the continuous appreciation of NFT prices.

The system will calculate the number of participants eligible to receive 2 NFTs based on the number of bidders and their final bids. The remaining bidders will receive 1 NFT each, ranked by bid amount.

The price of the last NFT in each auction round will be the final price for that round. Bidders who do not win NFTs or whose bids exceed the final price will have their funds refunded.

For example:

If 5,000 people participate in the auction, the top 850 bidders will receive 2 NFTs each, and the next 2,350 out of the remaining 4,150 bidders will receive 1 NFT each. If the 3,200th highest bid is 100 USD, then this price will be set as the final NFT price for that round. Any bids below 100 USD or amounts exceeding 100 USD for one NFT or 200 USD for two NFTs will be refunded.

Participation Limitations

To prevent monopolization by whales, each user can successfully participate in a maximum of 2 NFT auctions and acquire up to 4 NFTs, ensuring a broad distribution of assets.

Users who do not win NFTs in a given round can continue to participate in future auctions until they have successfully won NFTs in two different auction rounds.

2. What is the Wealth Value of Match NFTs?

Staking for Mining

Staking Match NFTs can generate RFG tokens, with different mining efficiencies for α, β, and γ NFTs.

Mining Efficiency: Single NFT staking < Joint staking of two NFT types < Joint staking of three NFT types.

To achieve higher staking returns, users can invite friends or participate in more NFT auctions.

Social Match Staking (SMS)

Through SMS staking, users can invite friends or randomly find strangers in the Match social plaza to participate in joint staking, earning higher RFG rewards.

Project Growth Dividends

Every NFT holder not only enjoys the appreciation of NFTs, the RFG rewards from SMS, and the appreciation of RFG but will also gain additional privileges in the future.

Scarcity and Demand

Match NFTs are the only “golden shovels” for early RFG generation. High yields drive up NFT auction prices and secondary market value.

Different NFTs have varying mining efficiencies, driving demand for higher-efficiency β and γ NFTs, thus increasing auction and secondary market activity.

The efficiency of Social Match Staking is approximately 2-3 times that of single NFT staking, creating significant demand for social match staking, which in turn drives viral user growth and pushes up NFT auction and secondary market prices.

3. Summary of NFT Use Cases

In the Match platform, NFTs are not only digital assets but also play a crucial role in joint staking and social interactions. In Match, NFT staking is the only way to earn RFG in the early stages and serves as a reward and incentive for NFT holders. This innovative integration not only enhances user engagement but also injects new vitality into the platform’s ecosystem.