Phase 2

The price of the first ship will be used to set the market price for the start of phase 2. The price for the second ship will start at whatever the first ship sold for -50%. So if the first ship sells for 10 000 000 PRSC the second ship auction will start at 5 000 000 PRSC.

The rest of the auction will be conducted in a Dutch manner, this is where it gets interesting and good deals can be found. A Dutch auction means that the price will steadily decline. The price for each ship will steadily decline with 0.005% of its current price per minute. Effectively reducing its price by 50% every 24 hours. So if the starting price was 5 000 000 on day 1, it will cost 2 500 000 on day 2. When a ship gets sold in phase 2 the next ship will be available immediately. The starting price for that ship will be the same as the previous ship was sold for +25%. This will continue on until all the unique ships have been sold.

Referrals

Every time someone uses your referral link and buys something from the auction house you get 20% of the proceeds. Example: You refer a friend and he or she purchases a ship for 1 000 000 PRSC from the Parsec Frontiers ship auction. Parsec Frontiers get 800 000 and you get 200 000 PRSC in cashback.

Marketplace

Once the first few ships have been auctioned off, the marketplace will be opened. This is where players can list their ships for sale and other players can buy them for PRSC. As more and more ships are being auctioned off, the second hand market will grow.

Digital ownership

All ships are non-fungible ERC-721 tokens and are secured on the Ethereum blockchain. They can be traded as ERC-721 tokens until the mainnet launches. Players will then have to send their tokens to our contract and will be granted the same asset on the mainnet.

All the ships in the game can be damaged and even destroyed after the Non-Aggression Pact is terminated. There will however be safe zones within the game where players can keep their ships. Naturally when your ship is in a safe zone it cannot do much so this is a risk/reward situation players will have to consider before venturing into space.

This will lead to a very interesting metagame where using one of the early ships might lead to huge battles since certain factions might wish to reduce the supply to increase the value of their own ship.

We look forward to welcoming a lot of new ship owners and Parsec Frontiers pioneers in the weeks ahead!

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