Next Minimum ETH Bid Increments for the NFT auction

Bid ranges and next minimum bid increments in Ether (ETH)

Current Bid

Low

High

Next Minimum Bid Increment

0.001	0.500	0.030
0.501	1.000	0.550
1.001	5.000	1.250
5.001	7.500	5.400
7.501	10.000	8.000
10.001	15.000	10.750
15.001	---	16.000

The next minimum bid increment is the minimum amount by which the current bid must be increased to place a valid bid.

Paying with Ether (ETH) for the NFT/Digital asset

We will send an invoice for the NFT to the successful bidder after the auction has ended. The winner will pay in Ether (ETH). We will charge an additional 1% of the total amount of the invoice. After payment is confirmed, the digital asset will then be transferred from Allie to the auction winner.

The winner will also be subject to any gas fees associated with conducting the transaction on the Ethereum network.

We will facilitate minting of, and transfer to the auction winner of, the 1/1 Authentic 1992 Mark Zuckerberg Rookie Card NFT through one of the world’s leading and most reliable marketplaces. Keep an eye out, more details to follow.

Ethereum Gas Fees

The Ethereum network is one of the most popular blockchain networks for running decentralized applications (dApps) and smart contracts. A gas fee is an amount of Ether (Eth) required for an Ethereum network user to conduct a transaction on the network. Gas fees are used to compensate Ethereum miners for their work in verifying transactions and securing the network. Gas fees also help keep the network from becoming bogged down by malicious users spamming the network.

The auction winner will pay Ethereum gas fees. These fees vary because the formula used to calculate them is dynamic, and the Ethereum network calculates its base fee based on network activity.

You can track Gas fees on thisGas Estimator.