EulerBeats Enigma Auction
The EulerBeats Enigma Auction for the 25 Original NFTs is scheduled to start Monday, March 29, 2021, at Noon ET. The key tool you need to participate in the 48-hour auction (that ends on March 31st Noon ET) is a MetaMask account funded with ETH.
The OpenSea FAQ, specifically, the Making and Accepting Offers section is your reference for participating in the EulerBeats Enigma Auction. Some of the text in this post was taken from the OpenSea FAQ verbatim for the sake of clarity.
Preparing
If you’re bidding for the first time, there will be a few preliminary steps before you can submit your offer.
You will need to wrap your ETH into WETH. It’s worth exactly the same as ETH and you can convert between the two currencies any time using the Ethereum Balance widget on the right side of your account page’s Offers tab. This allows for bids to be accepted by EulerBeats without escrow and without any action from the bidder.
Most dapps, including OpenSea, ask you to approve all of the WETH in your wallet upfront so that you don’t have to approve more every time you make a larger offer or bid. That way, after the first approval, you can make all the bids and offers you want and you won’t ever have to do another approval transaction for that currency.
Steps to get started:
1. Wrap your ETH with W-ETH (wrapped Ether) using the W-ETH station on the right-hand side in the bid flow.
2. Approve the exchange to access your W-ETH.
The above steps will require submitting transactions to the blockchain. After that submitting an offer does not require gas. Each time you want to bid, you simply sign a message which specifies the price you’d like to purchase the item at.
Bidding
The link to the auction is here. OpenSea allows you to bid on multiple EulerBeats Enigma Original NFTs and you can make as many offers as you would like. However, the moment that any of your bids gets accepted, the other bids will be invalidated if you don’t have enough WETH to fulfill them. When your WETH balance increases enough to cover the other offers, the bid will become valid once again.
When you make an offer for an EulerBeats Enigma token on OpenSea the money doesn’t actually leave your wallet. It’s just a promise to send money in the event that your offer is accepted.
The auction is set up to automatically extend the bidding time by 5 minutes after the last bid. Bids must be at least 5% higher than the previous bid. Only bids in the same payment token (e.g. wrapped ETH or DAI) as the auction will be counted towards the winning bid. There is a possibility that the auction may run longer than 48 hours.
After the Auction
If you’re a winner, congratulations! You will receive the Original NFT, that you won, in your wallet soon after your bid is accepted.
If you didn’t win, you can convert the WETH you used to make the offer back into ETH on the Offers section of your account page.
If you didn’t pick up an EulerBeats Enigma Original NFT don’t despair. Prints of Originals will available soon after the last Original NFT is sold and transferred to the auction winners. You can still own a piece of historical ultra scarce digital art + beat NFT generated on-chain by minting a Print of an Original token on EulerBeats.com.
Bidding Issues
The OpenSea FAQ, specifically, the Common Issues section, describes some issues you may run into while participating in the EulerBeats Enigma auction. The FAQ list covers issues related to your computer clock running 30 seconds behind, difficulties with using a hardware wallet (don’t use it), a conflict if using the Brave browser, and issues if you switch between different MetaMask internal accounts while bidding.
During the auction if you encounter issues with OpenSea or if you have questions about the OpenSea platform check on their Discord. For questions specific about EulerBeats Enigma tokens send us a message on the EulerBeats Discord server.
