It seems I'm missing something here:
"The auction consigner will receive a 10% payout of the total auction value when the end time is reached and the winning bidder will receive a 90% payout."
What is being auctioned? MORPHS?
Where do they come from? Do they belong to the Consignor?
Where do the MORPHS come from that the Bidder uses?
EXAMPLE: Consignor auctions 100 MORPH, winning Bidder bids 50 MORPH, Consignor gets 10 MORPH, Bidder gets 90 MORPH. Bidder spent 50 MORPH to win 90 MORPH, Consignor spent (?) 100 MORPH to win 10 MORPH?
Why would someone auction off 100 MORPH to win 10 MORPH?
Why would someone ever bid more than the value of 90% if the MORPH being auctioned?
Will we be able to auction things other than MORPHS, other than crypto?
Thanks for clarifying 😊
RE: Morphene Auctions Demo Site is Live