How To Bid On A Premium NFW
Your Guide To Bidding On A Premium NFW
This will strictly be a “How To” for bidding on a Premium NFW. If you would like more information of what a NFW is you can reference this complete guide.
https://medium.com/wolf-den/wolf-den-premium-nfw-59f1951339b9
You will most likely need BUSD as a form of payment so be sure to have that ready as well.
Navigate To The Wizard Site & Wolf Den Collection
Connect Your Wallet
If you see a flying wizard you may not be on the right network or the connection is lagging. Make sure you are on BSC and have wallet connected.
Auction
The Premium NFW will be listed on the “Auction” tab.
Press on “Place Bid” and you’ll get a pop up
You need to first press the “Approve” button
Pay the gas fee that is associated with the Approve by pressing “Confirm”
The screen will change to “Bid Now”
Take Note. Your bid must be 5% higher than the highest bid
The system is built in a way that you will be unable to proceed if the minimum requirements are not met. Once you have bid an appropriate amount press the “Bid Now” button and pay the gas fee
Congrats You’ve Made Your Bid!
Just like with any auction, however you will need to make sure you are the highest bidder at the end of the time in order to win.
There is still 1 day and 4 hours 50 minutes until this auction is over.
Pro tip-Expect the majority of bidding to ramp up over the last few minutes of the auction
You’ve Been Outbid
You will need to do a refresh to see if the bid amount has changed since you placed yours and if you have been outbid there will be a difference between “Highest Bid” & “Your Bid”
Notice how the highest bid is now 350 and our bid was 315? If you would like to increase your bid simply press “Place Bid”
Input The Total Number For The BUSD For Your Bid
In this case my max bid I would like is 370, I will need to simply pay the difference. I had already placed 315 BUSD into the system 315+ 55 = 370.
If you try and “add” the difference as in 315 + 101 shown below & try pressing “Bid Now”
You will receive an error and will be met with a red box indicating something is wrong.
Make sure to place the total amount for the bid which needs to be greater than 5% of the current bid into the system and everything will work out.
The End
Once the auction has ended the winner will be able to claim their NFW & everyone else who did not win will be able to reclaim their BUSD by pressing the “Withdraw” button
Social Features
This is a cool feature on the Wizard platform. If the red heart is highlighted this means you have paid the gas fee to give the NFT a “heart”
The greater number of hearts the higher to the top the NFT is pushed to the top. This will be a great way for creators to leverage their communities and get more social recognition and eyes within the platform.
You can only do this once per wallet as a FYI if you attempt to you will get an error.
That’s it!
DISCLAIMER: These articles are for educational purposes only. Nothing in this article should be construed as financial advice or a recommendation to buy or sell any sort of security or investment. Consult with a professional financial adviser before making any financial decisions. Investing in general and options trading especially is risky and has the potential for one to lose most or all of their initial investment
