Hey everyone, something interesting caught my attention while reading @FungoLabs latest update. Everyone is talking about the 300M $FUNGO creator campaign, but I wanted to look closer at their Genesis NFT sale on November 5. Heres what caught my eye. The 2,500 NFTs won’t be sold through a normal public bidding process. You submit your price and quantity in cZAMA, and both stay encrypted while bidding is open. Once the auction closes, the lowest winning bid sets the final price for all winners. So even if you bid higher, you only pay that final price. The extra gets refunded. But theres something to remember. Bids cant be cancelled, and the encrypted bidding fee isn’t refundable. I like that @FungoLabs is testing privacy in an actual NFT sale rather than just talking about the technology. Now im curious how the auction will work in practice. Would you trust a sealed bid auction more than a public one? For more information, check out the quoted tweet below.