metapro
  • 🤝Welcome!
  • 💻metapro market
    • Set your account
    • Connect wallet + web3 login
    • Side panel
      • Transfer NFT
        • Multiple transfer (Airdrop NFT)
          • Import CSV List
      • Sell NFT
        • Initial NFT Selling (INS)
          • How to setup INS auction
          • How to buy on INS auction
        • Buy Now
          • How to setup Buy Now auction
          • How to buy on Buy Now auction
        • Auction (Bidding)
          • How to setup Auction
          • How to buy on Auction
      • All NFT assets
    • Buy Crypto
    • Top Menu
      • Profile
        • Profile Marketplace
        • My games
        • My assets
          • Royalty
        • Activities
      • Referral Panel
        • Register your downline
        • Downline wallets
        • My referral link
      • Profile Settings
      • Developer Portal
      • Logout
    • Assets
      • Marketplace
        • Auction Card
      • Most favorite
      • Newest assets
        • Asset Card
    • Games
      • Show all games
    • Leaderboard
    • Create asset (minter)
      • Gaming asset specification
      • How to create (mint) asset
        • 1. Setup NFT token
        • 2. Setup metadata
        • 3. Add meta asset
        • 4. Mint meta asset
        • 5. Meta asset created
    • Developers Portal
      • Create team
      • Create game
      • Developers Portal Panel
      • Unity Plugin
      • How to list game on metapro market?
    • Creators
    • Teams
    • Users
    • Wallet App
    • Launcher
    • Market and auction component fees
  • 🚀METAPRO LAUNCHER
    • What is metapro launcher?
    • Download launcher
    • Set your account
      • Login to launcher
    • Home
    • Games
      • Game card on launcher
        • Assets in this game
      • Install game on launcher
      • Update game on launcher
    • My games
      • Installed
      • Not installed
      • Wishlist
    • My assets
      • Collected assets
      • Created assets
      • Wishlist
    • NODEs app
  • 📱metapro one
    • About non-custodial wallet
    • Download & set up
      • Create new metapro wallet
      • Import existing wallet
    • Settings
      • Avatar
      • Multiple wallets
      • Wallet name
      • Private Key
        • Protect Private Key
        • How to find my Private Key
      • Recovery Phrases
        • Protect Recovery Phrases
        • How to find my Recovery Phrases
      • Application version
    • Network switch
    • Deposit (Tokens and Collectibles)
    • Send (Tokens and Collectibles)
      • Send Tokens
      • Send Collectibles (NFT)
    • Buy (Buy and Sell Crypto)
    • Browser
    • My assets
      • Tokens
        • Asset view
        • Adding Tokens
        • Activities
      • Collectibles (NFT)
      • Game assets (NFTma)
    • Explore
      • Apps
      • Collections (NFT)
      • Game assets (NFTma)
    • How to claim Airdrop
    • How to import wallet from MetaMask to metapro
    • Supported devices
  • ⛓️metapro protocol
    • API
      • Users service
      • Teams service
      • Apps service
      • Nft service
      • Nft events service
    • Meta asset
    • Metadata structure
    • Protocole structure
    • Unity Plugin
      • About metapro Unity plugin
      • What's new
      • Guides
        • Installation
        • Requirements
        • Package samples
        • Quick start
          • 1. Editor
            • Access tool
            • Import game key
            • Download resources
            • App data object
            • Change game key
            • Use app data in script
          • 2. Play mode (PC)
            • Enable Web3 in your game
            • Choose provider
            • Connect wallet
            • Login with Web3
            • Display user data
            • Show app tokens
            • Use user and app data from script
          • 3. Play mode (Mobile)
            • Enable Web3 in Your game
            • Choose provider
            • Connect wallet
            • Login with Web3
        • AFP (Additional Features Packages)
          • 1. Safe token transfer
          • 2. Phoenix
        • Troubleshooting
      • Reference
        • MetaproAPPSetup
        • Editor Window
        • Plugin Manager
        • Web3 connection providers
          • metapro
          • Wallet Connect
          • MetaMask
        • WindowController
        • AFP (Additional Features Packages)
          • SafeTransferFrom
          • Phoenix
  • 🛠️WALLET CONNECTOR
    • Introduction
    • Basic informations
      • Next 13 integration
      • React integration
      • Manual installation
  • 👨‍💻Developer Documentation
    • Introduction to Developer Documentation
      • What is a Meta asset?
      • What are the Benefits of Using Tokens as Access Keys for the Game Application
      • Why should I Choose the Meta Assets as the Access Keys for the Game Application?
      • How Does It Work, Exactly?
    • Available Environments
    • Blockchain Communication and information retrieval
      • How can we verify/distinguish a user?
      • How can we track a user's transactions?
      • What information can we obtain?
    • Integration with the Leaderboard service
    • Integration for in-Wallet Apps
    • Integration for Telegram Mini Apps
      • Integration Architecture and Configuration
      • Authorization and Session Management
      • Example Integration and Features
      • Code Examples from the Repository
      • Summary and Appendices
    • Developer documentation for the Construct 3 Plugin
      • Construct 3 - Install plugin
      • Plugin Configuration
      • User onboarding and authorization
      • User Management
      • Score System
      • Leaderboard System
      • Referral System
      • Gameplay
      • Smart Contract Interactions
      • User NFTs
      • Error Handling
      • Additional Getters for Plugin Properties
    • Integration Web3 with Your Game
      • What is Web3
      • Blockchain Basics
      • Differences between chains
      • What is a NFT
      • Advantages of Web3 Gaming
      • Examples of Web3 Games
    • Onboarding the Web3 Player
      • Value for Players
      • Explanation of Cryptocurrency Wallet
      • Rewards for Tournament Participation
      • Reselling Owned Assets
      • Integration of Metapro Wallet Connector
      • Displaying Data for Unlogged Users
      • How to Get Authorization Data
      • User Authorization Benefits
    • Creating Your First Meta Asset
      • The Difference between NFT and Meta Asset
      • Security and Transparency
      • Concept and Value of Meta Assets
      • How and Where to Create Your Meta Asset
        • Step-by-Step Guide on How to Create Your Asset
        • Explanation of URI (Metadata structure)
        • Explanation of the Meta Asset Data taken from our Back End
    • Implementing Meta Assets into Your Game
      • Integrate your Meta Asset to your game using Unity
      • Verify User Tokens Ownership
      • Displaying All User-Owned Tokens
      • Displaying All Assets Assigned to the Game on the Metapro Market
    • Smart Contracts
      • MetaproINS
        • Read Contract
        • Write Contract
      • MetaproBuyNow
        • Read Contract
        • Write Contract
      • MetaproAuction
        • Read Contract
        • Write Contract
      • MetaproMetaAsset
        • Read Contract
        • Write Contract
      • MetaproRoyalty
        • Read Contract
        • Write Contract
      • MetaproReferral
        • Read Contract
        • Write Contract
      • MetaproAirdrop
        • Read Contract
        • Write Contract
    • Universal Links & App Links with WalletConnect
  • 🔎General information
    • Blockchain
    • Blockchain Network Fee
    • Blockchain Native Token
    • Token ERC-1155 vs ERC-721
  • 📄Release Notes
    • Introduction to the Release Notes
    • Marketplace Updates
      • Release 07.03.2024
      • Release 06.03.2024
      • Release 04.03.2024
      • Release 19.02.2024
      • Release 24.01.2024
      • Release 09.01.2024
      • Release 03.01.2024
      • Release 21.12.2023
      • Release 18.12.2023
      • Release 13.12.2023
      • Release 12.12.2023
      • Release 02.12.2023
      • Release 30.11.2023
      • Release 24.11.2023
      • Release 22.11.2023
      • Release 17.11.2023
      • Release 13.11.2023
      • Release 09.11.2023
      • Release 08.11.2023
      • Release 07.11.2023
      • Release 31.10.2023
      • Release 26.10.2023
      • Release 25.10.2023
      • Release 24.10.2023
      • Release 18.10.2023
      • Release 05.10.2023
      • Release 03.10.2023
      • Release 29.09.2023
      • Release 18.09.2023
      • Release 14.09.2023
      • Release 12.09.2023
      • Release 06.09.2023
      • Release 25.08.2023
      • Release 17.08.2023
      • Release 04.08.2023
      • Release 31.07.2023
      • Release 21.07.2023
      • Release 18.07.2023
      • Release 13.07.2023
    • Games Launcher Updates
      • Release 13.03.2024
      • Release 24.01.2024
      • Release 04.01.2024
      • Release 22.11.2023
      • Release 03.10.2023
      • Release 31.07.2023
      • Release 27.07.2023
      • Release 20.07.2023
      • Release 13.07.2023
    • Wallet Updates
      • Release 04.03.2024
      • Release 03.10.2023
      • Release 29.09.2023
      • Release 15.09.2023
      • Release 30.08.2023
      • Release 18.07.2023
Powered by GitBook
On this page
  1. Developer Documentation
  2. Smart Contracts

MetaproAuction

BIDDING AUCTION

Bidding Auction is a type of auction where the Operator sets a minimum price (floor price) they want to receive for a token, and participants compete for the token by placing bids and raising the price. After the auction concludes, there is a designated time for the operator to accept bids (the operator has time to review offers below the floor price and accept some of them). Currently, the time for bid acceptance is set at 24 hours. After this period, all participants and the operator can finalize the auction and claim their tokens or funds. In various scenarios and outcomes, the contract distributes tokens according to the principles of "who bid more, wins" and "who bid first, wins." On the auction card, there is a "Winning bids" table that allows real-time monitoring of winning bids, including prices and the quantity of tokens won by each participant.

Auction Markings:

Bidding Auctions are labeled in blue, with the button labeled "Make a bid." These designations make it easy to distinguish between different auctions.

Key Participants:

  • Operator: The person creating the auction.

  • Participant/Bidder: The person actively participating in the auction.

  • User: A person unrelated to the auction who hasn't purchased any tokens.

How it works:

  • The operator has the right to cancel the auction before it starts.

  • The operator cannot bid in their own auction (this restriction is in place to avoid situations where the operator raises the price).

  • A bid is automatically accepted when the bid price equals or exceeds the minimum price (but it doesn't necessarily mean that this bid wins).

  • The operator can set a maximum number of tokens a user can bid on (e.g., for the sale of ERC1155-compliant tokens, where one resource can have several tokens, a limit can be set for a single user).

  • In the case of two identical bids for the same price and quantity, the bid placed first is the winning bid. If the second person offers to purchase more tokens at the same price, the first bid is considered the winner. The crucial factor is the price per token and who bid first.

  • Placed bids can be canceled or increased in the number of tokens or price per token until the auction is active.

  • After the auction concludes, the operator has 24 hours to accept bids below the minimum price (acceptance is possible only if there are still available tokens).

An example of a not typical Auction situation (this example will show you how the rules exactly work)

If there are 6 tokens in the auction, and one bid is for the purchase of all 6 tokens above the minimum price, but the price per token is surpassed by another bidder who offers fewer tokens, say 2, those 2 tokens are won by the bidder who offered bigger price. The remaining 4 tokens are allocated to the person who placed the bid for 6 pieces. Here, the principle of who bid more and who bid first prevails, emphasizing the importance of the price per token in determining who gets the tokens.

In the next steps, we explain the Contract methods directly on the blockchain explorer

PreviousWrite ContractNextRead Contract

Last updated 1 year ago

👨‍💻