Tyler Hobbs’ QQL NFT Project Raises Nearly $17M in Successful Mint – Coin24h.com
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The project, which allows NFT collectors to act as creators of works of art using the QQL algorithm, sold out its mint passes offered in a modified Dutch auction in the Archipelago Sea. Basically, in a Dutch auction, potential buyers can make blind bids within a certain set of pricing parameters, and the final sale price is determined after all bids are considered. In this case, the auction started at 50 ETH (about $66,890) and went down over the course of an hour until all 900 mint passes were sold.