• AdEx Network Announces Charity NFT Auction, ADX Token Burn and $6,000 Bonus

  • More than 50 unique AdEx NFTs were auctioned off today at a cryptocurrency auction as part of a broader drive to popularize NFTs and donate a portion of the proceeds to charity, an AdEx press release said.

    “We are auctioning off 50 unique AdEx-themed digital artworks. Each digital image corresponds to a physical object: a hand-knitted toy of our mascot Eddie the Moonicorn. Auctioneers can choose to keep the digital artwork only, or provide a postal address or PO Box so that we can mail the actual toy in addition to the digital image.

    NFTs for charity

    NFTs, which stands for non-fungible tokens, are blockchain-based representations of real-world or virtual unique objects that prove their holders are the true owners of any underlying assets they represent, the latter including cryptocurrency collectibles, in-game assets, and real estate.

    Each AdEx NFT counterpart is handmade with the help of Ole-Male, a non-governmental organization that supports parents of children with special needs. In addition, there is an Easter egg hidden in the metadata of one of the NFTs.” Those who purchase that particular item will receive $6,000 worth of ADX tokens,” the company noted.

    The $6,000 worth of ADX bonuses will be hidden in one of the 40 NFTs prior to the auction. It will be programmed into the auction’s smart contract, which will put a special watermark on the winning NFT. After the auction ends, all NFTs will appear on Opensea and the winner will be visible to everyone.

    Therefore, the plush toys will be available for claiming after the auction ends. Each NFT owner will be asked to sign a transaction on MyEtherWallet – this will be free and it will prove that the address holds the NFT.

    Shipping costs are included in the auction price. Toys can also be redeemed to a PO Box address.

    AdEx Auctions

    The auction starts on September 15 at 16:00 (GMT+3) in the NFT section of the AdEx network. The price for the first NFT is 0.3 ETH, and each subsequent auction will increase by 20% from the previous one.

    Further mechanisms are in place to ensure fast auctions.” If there are no sales within 2 hours, the price will decrease by the same amount as the previous step increase. That price will continue to decrease every 2 hours until it reaches 0.3 ETH or until there are sales.” The team said, adding that the sale will end when all 40 NFTs have been sold.

    Thirty-seven of the 40 NFTs are still awaiting bids, with the current NFT price at 0.43 ETH.

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