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What is an NFT?
An NFT (Non-fungible token) is a digital asset that represents real-world objects like art, music, in-game items and videos. They are bought and sold online, frequently with cryptocurrency, and they are generally encoded with the same underlying software as many cryptos.
Is the item of the auction really a real painting?
Yes, it is. The painting is currently residing in the Arty Cube gallery in Vilnius, Lithuania and will be granted to a claiming Whale or one Shrimp, if they have 75% of the entire bid.
Who can participate in the auction?
Anyone. The auction is open to the public and anyone can place a bid for the painting by following a few simple steps.
How long will the auction last for?
The beginning of the auction is set to start 5th of November and will last 7 days.
What happens after the 1 week auction time ends?
During the last 15 minutes of the auction a countdown will begin. This time is dedicated to outbid the current highest bid. If the current highest bid is outbid then a fresh 15 minutes countdown will start. This cycle will continue until no one is able to outbid the current highest bid and the painting goes to the highest bidder. The final highest bidder - Whale or Shrimps - is decided upon the auction’s end.
Can I own a fraction of the NFT?
Yes, if you bid as a Shrimp and Shrimps outbid the Whale, an NFT for the painting will be split into multiple parts, corresponding to the Shrimp bids and assigned to their wallet addresses.
How does the auction work?
The main idea of the auction is a challenge: who will own the original painting and the digital NFT certificate. Whether the Whales are still here, standing strong, or the small market players' joint forces are stronger.
How do I know whether I am a Whale or a Shrimp? Is there a minimum bid?
The smallest bid to classify as a Whale is 1 ETH and the smallest bid for Shrimp is 0.1 ETH.
Can I place more than one bid?
Yes. If you are a Shrimp your separate bids will be accumulated into the bidding “pool”. If you are a Whale you can place a certain bid and add on top of it. If a Whale is outbid by another Whale, his bid will be returned immediately. If a Whale is outbid by Shrimps, his bid will be held until he is outbid by another Whale or the end of auction. You can bid for both Whale and Shrimp - it depends on your strategy.
Bidding as a Whale.
If a Whale wishes to place a bid, the bid must be higher than the previous one in order to outbid the previous Whale and become the new highest bidder. The outbid Whale automatically has their bid returned.
Bidding as a Shrimp.
Shrimps bid together. All placed bids remain and are accumulated into a “pool”, which competes to the Whale’s bid. A single Shrimp will have a minimum bid limitation. The number of Shrimps is unlimited. Their goal is to outbid the Whale and secure the painting’s ownership into their hands.
What happens if I lose the auction?
Whether the Whale loses or is outbid by another Whale, their bid will automatically be returned. If Shrimps lose the auction, their bids will be returned after the auction.
Disclaimer: the structure of the auction is based on the official Ethereum blockchain, which is established and highly protected against malicious activities. All transactions in the network require a gas fee, which auctioneers have no control over. The gas fee will be added to the bid, we advise you to check the gas fees ahead of bidding.
A bidding scenario with exact example for Shrimps
If you are a Shrimp and you placed a bid on the auction site, all your bids accumulate and stay locked until the end of auction.

In case the Whale wins (Shrimps are outbid at the end of auction) you will get back all your funds. Transaction fees for returning your funds will be covered by organizers of the auction.

In case the Shrimps win, you as a Shrimp get the NFT tokens . Amount of NFT tokens Shrimps will get corresponds to the total bid amount associated with one's wallet.

If the Shrimps decide to unite and give their NFT tokens to one person (natural or legal), so that it reaches 75% or more of the entire NFT tokens pool, that Shrimp can claim the painting and take it home.
Is there a minimum value of the auction?
NO. There is no reserved price. The price is completely up to the community.
How do I place a bid?
Step 1. Go to https://superhow.art and press the button “Place BID”.
Step 2. After clicking the button, you should find yourself looking at the piece of art that is prepared for bidding. Now you have to decide whether you would like to be a Whale or a Shrimp. If you have decided that you can be a Whale, press the “Whales” button, or should you decide to be a Shrimp, press the “Shrimps” button.
Step 3. In order to be able to bid for the desired art piece, you must be connected to a MetaMask wallet. If you don’t have a wallet, or you’ve never heard of it, don’t worry we’ve got you covered. See a complete guide to using MetaMask wallets. If you already have a wallet, or you have come back after setting up your wallet (welcome back!), you should receive a pop up asking you to log in, or to switch the network.
Step 4. After your wallet confirmation you will be able to access the bidding page (by pressing the “Whales” or the “Shrimps” buttons). Here you should place your bid and confirm it.
Step 5. Congratulations, you’ve done it!
Is a specific wallet recommended?
We recommend using MetaMask wallet. You can find a complete guide for MetaMask wallet here: https://docs.metamask.io/guide/
Can I cancel my bid?
No. Whales can have their funds returned in 2 cases:
1) They are outbid by another Whale; 2) Auction ends and they lose to the Shrimps.
Shrimps can have their funds returned only when the auctions ends and they lose to the Whale.
What are my payment options?
The auction system only accepts payment by Ethereum, which is why you need to link a MetaMask Wallet first before placing a bid.
How is the security of my bid guaranteed?
The structure is based on official Ethereum blockchain smart contracts technologies, which are decentralized and have better defense against malicious activity, it is clear that the security will be strong and reliable.
Is the auction anonymous?
Yes. The bids are placed in complete anonymity as no names are required and transactions will simply use wallets.
Why isn’t this auction on any of the marketplaces (e.g. Opensea)?
superhow.ART is an independent project, created by visionary research and development company SUPER HOW?.
What is the point of having a fraction of the NFT of real painting?
Fine art industry has been exclusive to the super rich for a very long time. This is a way to open the industry to the community and give an opportunity of fine art ownership to almost anyone.
What is Smart Contract Technology?
All smart contracts run on the Ethereum blockchain, therefore making it public and not changeable. Anyone can view them and verify their integrity for themselves if need be. The contract itself can be categorized as an agreement between two people, one of which is a computer code that fulfills called functions and interacts with other contracts on the chain.
Active transactions are processed on the blockchain, and only occur if the function’s criteria has been met (e.g. if the restrictions and access modifiers in the functions of the contracts require so and are redefined).
Each contract has different purposes, some are used for securing other contract functions, some for currency exchanges, others for auctions, and so on. The possibilities are endless.
To put it in simpler terms, a smart contract is an agreement, which has points that define it. Any part of the contract can be interacted with if the point requirements are met. The contract is placed on the blockchain, which can be interpreted as an attorney that keeps the contract safe and unmodifiable, so the owner and others can interact with it.