Fungo Genesis NFTs are coming on November 5 But this is not an ordinary NFT mint FungoLabs is introducing an encrypted sealed bid auction powered by Zama FHE technology Here is how it works 🟨 The Mint 500 NFTs reserved for a free whitelist mint 2500 NFTs available through the auction Bids are placed in cZAMA You choose your bid price and quantity 🟨 Privacy is the game changer Your bid price and quantity remain encrypted while bidding is open Only the bidder timestamp and number of bids are visible onchain No one can see your strategy before the auction ends 🟨 How is the final price decided Once bidding closes bids are revealed and ranked from highest to lowest The lowest winning bid that fills the 2500th NFT determines the final sale price Everyone pays the same clearing price 🟨 Who gets the NFTs Bids above the final price get their full requested quantity Bids exactly at the final price share the remaining NFTs pro rata Bids below the final price receive no NFTs and get their bid amount back 🟨 Let's understand with an example Suppose the final sale price is 10000 cZAMA A bids 15000 for 3 NFTs and gets all 3 with 15000 back B bids 10000 for 2 NFTs and gets a pro rata share of the remaining supply C bids 8000 for 1 NFT and gets no NFT but receives 8000 back Simple Winners pay the same final price not necessarily their original bid 🟨 Important things to remember Bids are binding and cannot be withdrawn Every bid includes a small non refundable encrypted bidding fee If demand stays below 2500 NFTs everyone buys at the lowest bid price NFTs mint sealed and holders decide who gets to see inside 🟨 Why this is interesting This is where privacy meets fair price discovery No public bidding wars No copying competitors bids No exposing your strategy Just encrypted bidding powered by Zama FHE November 5 2026 500 free whitelist mints and 2500 auction NFTs The future of private NFT auctions looks interesting Are you ready for Fungo Genesis @FungoLabs |