mxtter: What are POABs?
How we’re rewarding auction bidders
Continuing our mxtter launch series
POABs — Proof of Auction Bidding
When we launch a collection like AZAR, it begins with a 14-day period of daily auctions of the first pieces in the collection. These are special limited edition pieces that will not contain the same artwork as the public sale collection. They are also special because they are tokens that provide access and voting rights to the mxtter DAO, the voting body that supports artists with the treasury funded by 50% of the auction proceeds. The DAO also decides on which artists will be brought onto the platform for future drops (more on this in an upcoming post).
Since the auctioned items are in high demand, and there are only 14, we also wanted to reward people who get outbid.
Bidders will get 2 benefits for bidding:
- Wallet address will be included in the Early Access period of the public sale
- A POAB badge will be airdropped into their account reflecting the day of the auction they bid on
Collect 5 POAB Badges for a claimable reward
Bidding on 5 or more daily auctions, and receiving those badges will also unlock the ability to claim a unique artwork from the collection artists (on Ethereum mainnet)!
We’re excited to announce the the unique piece that will be dropped as a reward for people who collect 5 or more POABs from AZAR