nuts

Soon @GLHFers Auctioneer will launch auctions for 1/1 Special Characters in the @gigaverse upcoming RPG. Important you understand why we built him, how he works, & what's special about the next set of auctions he's gonna run. Game theory appreciators will enjoy this: [1] Introduction When the GLHFers collection initially minted back in January 2024, the mint stopped with 150 tokens remaining unminted. We announced that all those remaining tokens in the contract would be minted as 1/1 Special Characters, via auction. The auctions would take place slowly, over time, in batches. Each batch being different / being used to fulfil a different purpose. To execute the auctions, we built the Auctioneer, a modified version of the original Nouns contract. He's more than just a contract - he's a character with a personality of his own. Of course, he was stylized on the monopoly man. [2] Why we built him Most NFT collections & teams since 2021 have run into common issues: (1) their collection is fully minted and static so no new art can be introduced, (2) or they have to launch follow up collections which dilute / cannibalize the primary one, (3) because many have run out of funds, (4) and almost all of them have no way of introducing any game theory in to the collection itself. We built the Auctioneer to address these issues & more, to do something new, AND -- to make the GLHFers collection deflationary. Read on. [3] How the auctions work Auctions run over the course of 24 hours and take place on the official GLHFers website. Bids are made in ETH. If you are outbid, your ETH is returned immediately. Every time a bid is made, it is posted in our main Discord chat so everyone can easily follow along with what is happening. When the auction ends, the NFT is minted and delivered to the winner. The Auctioneer likes to incentivize bidding and has historically offered some perks / rewards to people who bid on the auctions. [4] Do the Special Characters hold some sort of long term role or significance in our plans for GLHF? Yes. More on this later. [5] Why he uses auction funds to sweeps and burns One of the first 1/1 Special Characters he auctioned was the Devil. The Devil corrupted the Auctioneer, causing him to become obssessed with sweeping & burning the floor of the GLHFers collection. This has created a simple flywheel where the more funds he raises from auctions ➜ the more sweeps & burns he can perform. Important to note, the Auctioneer does not sweep & burn in a predictable manner. Times & sizes of sweeps vary. So far, he has burned 267 GLHFers. [6] How many auctions remain, what's the mint schedule? So far, only 20 pieces of the remaining 150 have been auctioned, which leaves a further 130 to go. These remaining 130 auctions will be run over a long period of time - potentially years. (it's also possible that the remaining supply of auctions is reduced, and less than 130 auctions take place) [7] So what auctions will happen next? The next set of auctions will be v exclusive: only 7 Special Characters will be introduced in this batch. They're all S tier in terms of aesthetics, and are also playable characters in the gigaverse which will launch on @AbstractChain soon after their mainnet goes live. They carry another benefit / utility for the owners too. More on this will be shared before the auctions go live. [8] Summary The Auctioneer is a mad chad who makes the GLHFers collection deflationary. Next set of auctions is going live very soon. You're going to enjoy this. 🫡