Daily Auction: Difference between revisions

Latest revision as of 07:02, 12 December 2024

Daily Auction has been removed from the game since Season 15.

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-Auction resets every day at 16:00 UTC.
+Daily Auction has been removed from the game since [[Season]] 15.
-There are 4 groups of auctions: one group uses [[Credits]] for bidding, while the other three groups each accept different [[Holo-Tags]] as bidding currency.
-Auction items may include, any virtual items, [[Virtual Resources]] or even NFTs
-<h2>Auction Rules</h2>
-Vickrey auction is also known as Second-price sealed-bid auction. None of the bidders know what the other is offering. The bidder with the highest price wins, but only pays the value of the next highest bid. The most important feature of these auctions is that each bidder's winning strategy is to bid according to their true valuation of the item; this auction mechanism is thus incentive-compatible. It is also a Pareto efficient allocation mechanism.