If I can’t see what everyone else is bidding, I have to make my own decision. That’s the interesting part of the Genesis auction by @FungoLabs On November 5, Fungo launches its 3,232 Genesis NFTs with three allocations: 500 free mints for whitelist holders and nominees 2,500 NFTs through a sealed-bid auction 232 reserved for the team The auction uses Zama’s FHE technology to keep bid prices and quantities encrypted while the auction is running. You choose how much you’re willing to bid without seeing everyone else’s numbers. And here’s how the final price works. Imagine 3 NFTs are available and four people bid: A: 3,000 cZAMA B: 1,500 cZAMA C: 1,000 cZAMA D: 500 cZAMA A, B and C win, but all pay the same clearing price: 1,000 cZAMA. A gets 2,000 back, B gets 500 back, C pays 1,000, and D gets the full bid refunded. So placing a higher bid doesn’t automatically mean paying more. Your bid determines your chance of winning, while the lowest winning bid determines the price. There is a small non-refundable bidding fee, and bids are binding, so this is worth understanding before participating. The NFT design follows the same privacy-first idea. Genesis NFTs are minted with encrypted artwork and hidden traits. Holders can reveal the artwork, while the underlying essence and stats remain encrypted on-chain. That could become especially interesting when Fungo expands into its encrypted NFT launchpad and the planned game, where hidden traits may actually influence gameplay. I’m curious to see whether Fungo can turn encrypted ownership into something people use beyond collecting. That’s a much bigger experiment than another NFT mint.