Daily Auction: Difference between revisions
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<html><img src='https://play.outlawtroopers.io/images/dailyauction_screen.png'/></html> | <html><img width = 600, src='https://play.outlawtroopers.io/images/dailyauction_screen.png'/></html> | ||
Auction resets every day at 16:00 UTC. | Auction resets every day at 16:00 UTC. | ||
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Auction items may include, any virtual items, [[Virtual Resources]] or even NFTs | Auction items may include, any virtual items, [[Virtual Resources]] or even NFTs | ||
Unsuccessful auction bids, whether in credits or tags, are automatically refunded to players at the end of each [[Daily Auction]]. | Unsuccessful auction bids, whether in credits or tags, are automatically refunded to players at the end of each [[Daily Auction]]. | ||
Latest revision as of 04:19, 26 September 2024
Auction resets every day at 16:00 UTC.
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
Unsuccessful auction bids, whether in credits or tags, are automatically refunded to players at the end of each Daily Auction.
Additionally, for successful bids, any difference between your initial bid and the final bid amount will also be refunded.
Auction Rules
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.