victor

The @FungoLabs Genesis auction enters its final stretch, with roughly 8 hours left till bidding closes. If you’ve been following the mint but haven’t participated yet, there are a few things worth understanding before the windows shut. First, this isn’t just another conventional NFT mint. Fungo is introducing encrypted NFTs on Ethereum using Zama’s Fully Homomorphic Encryption (FHE). In simple terms, the NFT’s underlying traits and attributes remain encrypted onchain. The holder controls access to their private NFT data, while the artwork can be published publicly at their discretion. Now, here’s where the auction gets interesting. The bidding mechanism: Fungo uses a sealed bid, uniform price auction. → You choose your bid price and quantity. → Both remain encrypted while bidding is open. → Once bidding closes, bids are ranked from highest to lowest. → The lowest successful bid establishes the clearing price. → Every successful bidder pays that same price, not necessarily their original bid. Any excess is refunded, while unsuccessful bids receive their funds back. A few things to keep in mind: • 2,526 NFTs available. • Maximum of 20 NFTs per bid. • Minimum bid: 700 cZAMA per NFT. • Bids are binding, so choose your valuation carefully. • Auction closes November 6 at 16:30 GMT+1. One more thing worth mentioning: ETH gas is currently around 0.05 - 0.06 Gwei, making Ethereum transactions particularly inexpensive at the moment. If gas fees were the reason you were holding back, this is a good window to reassess. What makes this mint worth paying attention to isn’t just the artwork. It’s the underlying infrastructure Fungo is experimenting with: NFTs whose essential attributes can remain private while still being usable by smart contracts. That’s a considerably different design space from conventional NFTs. Do your research, understand the auction mechanics, and bid according to what you believe the asset is worth. Genesis: fungolabs.org/launchpad/d/fu…