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Dutch auction

What does Dutch auction means?

Refers to an auction that opens with the highest possible price (ceiling price); this drops at intervals and closes with the lowest price accepted by the seller. 

 

Here’s how the Dutch auction works: The auctioneer determines a product’s ceiling price based on all existing bids for a digital product and keeps dropping this price at different intervals until it gets to the lowest possible offering. At the end of the auction, everyone buys at the lowest price accepted by the seller. It’s in contrast to a traditional auction, which starts from the lowest to the highest price.

 

Random Slangs

Flex

A general term for show-off; refers to bragging about a digital asset. For instance, you can flex your NFT by displaying it as a PFP.

Gwei

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Blue chip

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BTC

A short way of writing “Bitcoin.” Launched in 2009, Bitcoin tops the cryptocurrency blue chips. And it has gained immense value over time. It uses

Mods

A short way of writing “moderators.” Mods are individuals appointed by an NFT community to maintain healthy communication on Discord and other collaborative platforms. Depending

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