Create an NFT sealed-bid auction

How to create an NFT sealed-bid auction pool

1. Visit and select NFT auction house on the left top corner

2. Click create auction button and the selection window pops up.

3. Select NFT sealed-bid auction and click confirm to go to the create a NFT sealed-bid pool page.

4. The pool settings page consists of two sections.

The contract information section:

  • Token type: select ERC721 or ERC1155. Find the token type on Etherscan.

  • Token contract address and token ID: find the token contract address and token ID on Etherscan or Opensea (connect with Metamask or any other eligible wallet)

The pool settings section:

  • From: is auto filled after entering the contract address.

  • To: the currency to receive for the auctioned assets. On the Ethereum network it is ETH, on Binance Smart Chain it is BNB.

  • Starting price (floor price): the lowest price to start bidding on the NFT. This is the minimum price the pool creator will receive for the NFT.

  • Participant:

    • Public opens the auction to everyone,

    • AUCTION holders opens the auction to users who hold at least 0.5 bot in their wallet

    • Private opens to exclusive users or groups secured by password

  • Pool name: for participants to identify the auction on the Bounce homepage

  • Pool running time: the time that the auction will be available

5. Once all parameters are entered, click the launch button and approve the transaction in Metamask (or whichever wallet used). Two transactions are needed to launch the pool.

  • Approve spending limit:

  • Approve Contract interaction:

If a transaction error with very high gas fee (usually over 200 USD), appears please do not proceed and go back to the parameter page to check if everything is entered correctly.

Manual claim for pool creators

Pool creators need to come back to check the pool status page and manually claim the swapped ETH/USDT and any unswapped tokens. This can be done in one transaction at the end of the auction.

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