‘Crypto Sword & Magic’ Item Auction Introduction
Hello! Crypto Game fans !! This is the ‘Crypto Sword & Magic’ team. Today, we would like to introduce you to the exciting auction system in the ‘Crypto Sword & Magic’ world.
By using the EOS blockchain technology, we created a whole new world of possibilities for monetizing and trading game assets via the transparent auction marketplace.
Through this process, you can acquire formidable pieces of equipment for your hero to use in the upcoming battles.
Entering the Marketplace
In the world of ‘Crypto Sword & Magic’, you can always access to the marketplace. You can also list your products in the marketplace so you can monetize the maximum value for your game assets.
Looking at the below screen, at the bottom, you will find the “SHOP” icon interposed between cute pet and battle icons. Once you entered the shop, you will be able to browse through items currently in the market. They are displayed chronologically from ending soonest to the latest.
If you already entered into the “AUCTION” marketplace, you will now learn more about other various options in the auction system.
If you look from atop, you can see that there is a search bar you can use to locate the item that you are currently looking for.
Underneath it, you can see a bar with parameters in the order of Item, Bid(Current bid price), Buy out (Buy it now price) and Time left (remaining hours and minutes until the end of the auction) from left to right horizontally. You can select one of them and either bid or buy out as you like.
If you click one of the listed items, it will be highlighted and you will be directed to a pop-up window displaying detail about the selected equipment, as shown below.
Participating in the auction marketplace⚔️
Next, you will explore ways to participate in the auction marketplace yourself step by step.
You might have spotted the icon for “BIDDING” in the middle among the 5 tabs on top.
Yes, that is where you can log into the auction marketplace. Once you entered the page, you will see two tables: one for current bids/offers and another for Unsold/Out Bid items.
Here, you can adjust your bid or buy out the product at the seller’s “buy out” pricing.
Yes, exciting! 🤗— this is the place where you can actually hunt for the legendary items that you have always dreamt of.
The right-hand side of the “BIDDING” tab, you will see the “SALE” tab. If you picked an item during a battle that has splendid options but not ideal for your hero’s occupation, they can be auctioned at a higher price in the marketplace. Sell them to earn EOS or spend them to bid on your dream items.
In order to participate in the auction, you should select items from your inventory and drag them into the empty space above, as shown in the first screenshot below (Screen 1). When the item is placed in the space, you will be directed to the next screen where you can complete your listing. (Screen 2)
Like in Screen 1–2 (below), you should fill out details and register. Here is step-by-step guidance to finalize the registration.
Step 1 — Place the item ⚔️ in the space
Step 2 — Set Buy out & Beginning bid pricing (auction starting price🏷️)
Step 3 — Tick/Check duration of the sale from 3 options: 8 / 24 / 72
Step 4 — Click Purple “Register” button (registration fee will show up in # of Crystals 💎)
Well Done! easy peasy~ right? 🤩 =)
You must be scratching your heads by now. “What on earth is the registration fee.. and Crystal?”
Here are the explanations!
In order to streamline the auction mechanism and avoid chaos in the market, we have devised a fee system. There are two types of fees in the marketplace: 1. Registration Fee (a.k.a. Listing Fee) and 2. Transaction Fee.
Before digging deeper into the fee structures, we would like to shed some light on what the ‘crystal’ 💎 (the green jewel in the top right corner of the screens with quantities) is first. The ‘crystal’ in the world of ‘Crypto Sword & Magic’ is the “in-game currency” that you can acquire through your gameplay. They are useful in diverse occasions in the game, including listing your items in an auction.
Let’s Dive right in.
- Registration Fee: This is a ‘non-refundable’ fee, variable based on the duration of the auction and will be levied in ‘Crystal’. This is an instrument or a deliberate bottleneck in the listing process to sift out those who are not serious about selling their items and prevent overcrowding the marketplace.
- Transaction Fee: This is a variable fee charged in EOS amount which is set portion of value for every successful transaction complete. (Any change of hand will trigger this fee for the seller’s proceed) This will be used to maintain and police the marketplace.
So far, we have explored the process to list game assets in the marketplace and core part of the fee mechanisms. In the world of ‘Crypto Sword & Magic’, this will be the primary monetizing opportunity during the gameplay.
If you are lucky enough to pick Legendary/Epic items that you no longer need, you can auction it off in the marketplace to earn EOS. Play game while earning EOS -!! Too good to be true? 😂
Complete Auction and Claim your wins 🏆
Last but not least, we want to walk you through the last piece of the puzzle in the auction process.
In the world of ‘Crypto Sword & Magic’, you will encounter 4 possible outcomes as laid out in the below matrix.
Once you won the auction, you can navigate to the right-most tab in the marketplace called “RECEIVE”. Here, you will see all the assets you won in the marketplace.
The outcome of the transaction will be either shown from the “RECEIVE” tab or sent into your private account inbox. (Whether we will transfer the winnings to the “RECEIVE” tab or private inbox is TBD, we will keep you posted.) In the messages, you will come across call-to-action to “Take” or “Take All”. Until you opt to take the item or EOS, they are not yours just yet. So, make sure you take them.
Once you claimed your winnings, you will be able to see the items in your inventory and amount of EOS in your wallets.
If you still have questions about the auction marketplace, feel free to reach out to us at our channels or via email/telegram community. We are always here to help.
Thank you for your time and interest !!
[Crypto Sword & Magic Social Media]
Official Website : https://cryptoswordandmagic.com
Telegram Community (English): https://t.me/cryptosnm_comm_en
Telegram Community (Korean): https://t.me/cryptosnm_comm_kr
Twitter : https://twitter.com/sword_and_magic
