7. Auction House

The Auction House is where players can buy and sell game assets between themselves, using nuggies. The Auction House is accessible in-game from the main ESC menu.

Players place buy orders and sell orders at prices they choose. These populate an order book, and the best buy orders and sell orders are matched.

When players place a buy order, the nuggies needed to execute the order are held in escrow until the order is either completed or cancelled. When players place a sell order, the item needed to execute the order is held in escrow similarly.

A 7.5% transaction tax applies to all trades performed in the Auction House.

Players that have a Pirate Pass and have passed verification in their profile can withdraw nuggies earned from selling items in the Auction House to the blockchain as tradeable tokens, which could potentially be sold on decentralized exchanges.