Azuki Expands Details on Proof of Skate Golden Skateboard Auction
Azuki announced its "Proof of Skate" technology installation a few days ago via Twitter, and additional details are now available about the upcoming auction.
The auction for a limited-edition series of Golden Skateboards (literally plated in solid 24k gold) starts at 9 p.m. ET on Friday, Oct. 21. It ends on Saturday, Oct. 22, at 9 p.m. ET. Each bid placed within the last 10 minutes of the auction will extend the event by an additional 10 minutes.
"The series of Golden Skateboards were custom-designed, precision-milled, and fully coated in 24K gold," Azuki's website reads. "Each board is fully functional (although we don't recommend riding it as it weighs 45 f****** pounds) and depicts an exquisitely detailed golden dragon - along with one of nine unique emblems from the Azuki universe."
The auction is open to the public, and no prior registration is necessary. The bidding will take place in ETH, and the buyer must have the ETH in their wallet prior to making a bid. ETH will be sent back in real-time once a potential buyer is outbid.
The winners will receive an NFT that has a lifetime redemption window for the Golden Skateboard. In November, winners will be eligible to burn those NFTs and claim the physical item. Delivery of the items will be coordinated by the team and a fine art handler will assist in the transfer.
As previously stated, the Golden Skateboard installation will run from Oct. 19 to 23 at the K11 Musea Gold Ball in Hong Kong, China, and it will be open to the public.
Earlier today, Azuki noted that each skateboard will come with a Physical Backed Token, which ties the physical items to a digital proof-of-ownership token.