BAM 8 | BiG CHARITY AUCTION A charity auction is an event where goods or services are sold to the highest bidder, but the money then goes toward a specific cause or project. In a Charity Auction, the winning payment benefits a cause that is presumably valued by the bidder, as well as competing bidders. The…

BAM 7 | VICKERY (PHILATELIST) AUCTION This is like the Sealed Bid English Auction, but with a slight twist. The winner of the auction is the person with the highest bid. Of course, the bidders do not know the bid prices of other bidders. …

BAM 6 | ENGLISH AUCTION The English Auction is like the auction standard and most prevalent auction type. The seller starts with a reserve price and everyone is supposed to bid above this. All bidders can see the price offered by other bidders. The highest price bidder wins. Please note that the reserve price is…

BAM 5 | DUTCH AUCTION The Dutch Auction mechanism is useful for products where the availability of the product is not limited, yet the price is non-deterministic. BiG DEAL will avail a platform for the launch of crypto projects and their initial coin/token launches via the Dutch Auction model. In 2019, the Algorand Foundation resorted…

BAM 4 | THE LAST PLAY (PENNY) AUCTION The Last Play Auction mechanism is like what has been traditionally called the Penny auction model. The Last Play will capitalise on the strong inclination of participants to bid on high-end retail products at a fraction of their cost while providing a fun and exciting experience. DEFINITION | Pre-determined bidding…

BAM 3 | UNIQUE BOTTOM BID AUCTION Unique Bottom Bid Auction Model (BAM 3) functions in a similar fashion as Unique Top Bid Auction Model (BAM 2). The only difference here is that the winner places a ‘unique lowest bid’. …

BAM 2 | UNIQUE TOP BID AUCTION As per Wikipedia, a unique bid auction is a type of strategy game related to traditional auctions where the winner is usually the individual with the lowest (or highest) unique bid. Unique bid auctions are often used as a form of competition and strategy game where bidders pay a fee…

BAM 1 | DISCREET BID AUCTION DEFINITION | High applicability to business cases where the seller doesn’t want to divulge the price (keep it discreet). MODEL/TYPE | MarketPlace product listing. DOMINANCE | Skill (skill vs. chance) BiG DEAL revenue: Product listing fees Consumption of BiG Tokens to convert to PLAYs Percentage from the success revenue Applicability: Sell services | High …

BAMs are the various BiG AUCTION MODELS for engagement on the BiG DEAL blockchain-based decentralized online auction platform. We have eight BAMs on offer to our BiG DEAL community with mechanisms for winning amazing DEALS. BAM highlights: BiG DEAL aims to present opportunities that can be deemed as ‘DEALS’ to community members…