Article reprint source: Project Dynamics
Bounce Brand and BounceBit announced a partnership with SeoulAuction Blue, a well-known Korean auction house, to auction the classic work of Impressionist artist Claude Monet on the Ethereum chain. This auction introduces Monet's paintings to on-chain auctions for the first time, pioneering the integration of classic art and blockchain technology. The winning bidder will receive the physical copy of this authentic Monet painting (RWA). This work is a treasure of Impressionist art, perfectly showing Monet's ultimate pursuit of light, shadow and nature, and is accompanied by a professional work status report and proof of origin provided by SeoulAuction Blue to ensure its authenticity and collection value.
To commemorate this special auction, Bounce will issue a meme commemorative token, Memeory Coin, on the Ethereum chain. To ensure fairness, the token symbol and contract address of Memeory Coin will be announced by the official Bounce Twitter after the auction.
There are two major events before the official auction:
1. Meme Token Mining
Staking method: Stake $AUCTION on the Bounce platform, or stake $stBB on the BounceClub platform to get the Memeory Coin allocation.
Start time: November 18 (UTC+8 12:00 noon)
Unlock time: November 23 (UTC+8 12:00 noon)
Rules: The earlier you stake and the more you stake, the higher the amount of Memeory Coin you will be allocated. After unlocking, users can get back all the staked $AUCTION or $stBB.
2. Guess the transaction price
How to play: Choose the price range that you think is closest to the final transaction price of the Monet authentic work in the official price range and bet. Each address can bet multiple times, and the addresses that guess the correct range will share the prize pool.
Time: Starting from November 18 (UTC+8 12:00 noon), lasting 24 hours
Betting fee: 10 AUCTION or 500 BB each time
Pot: 888 AUCTION + 8888 BB
Rules: Each bet will be included in the pot, and the addresses that guess the correct price range will share the accumulated prize pool. The more the address bets, the greater the reward ratio will be.
Formal auction stage
Start time: November 19 (UTC+8 12:00 noon)
Auction mechanism: English auction
Starting price: 0.25 ETH
Price increase range: minimum price increase of 0.1 ETH each time, maximum price increase of 0.25 ETH
Rules: Each address can only bid once. If a higher bid appears, the previous bidder will receive a full refund. If no one bids higher within 6 hours, the last bidder wins the painting.
After the auction
1. Memeory Coin distribution and initial liquidity addition: Users who pledge $AUCTION and $stBB, bidders and winners of the official auction will receive Memeory Coin allocations in proportion. After the initial liquidity addition is completed, users can trade Memeory Coin on the Uniswap platform.
2. Offline delivery of Monet’s authentic works: The official will contact the auction winner, collect the mailing address and arrange the delivery of the painting.
Memeory Coin Economic Model
Total supply: 184 million (in honor of Monet’s birth in 1840)
Allocation ratio:
$AUCTION stakers: 2.5%
$stBB stakers: 2.5%
Winning auction bidder: 1%
Auction bidders (excluding winning bidders): 9%
Liquidity increase: 85%
According to Sotheby’s valuation, the Paysage market value of the Monet authentic work auctioned this time is between $200,000 and $300,000. The starting price of the Bounce platform is only 0.25 ETH, aiming to allow more people to have the opportunity to participate in this art feast. If the final transaction price is $300,000, given that each address can only bid once, it is expected that about 310 addresses will be able to participate in the auction. The 9% Memeory Coin quota of the auction bidder will be evenly distributed among these bidding addresses.
This auction is not only a continuation of classic art, but also a new exploration of the combination of blockchain technology and physical art. Stay tuned!
