What’s more boring than a bunch of suits slamming gavels in some Victorian money pit? We’ve seen this play out thousands of times, ever since these institutions were founded in the 1700s. We have the most powerful technology in the world and it’s been there the whole time—Ethereum. Can we partybid at Christies or Sotheby’s? Can anyone bid on these auctions onchain? Nope. Yelling out some numbers in a closed room? Sounds boring.
Apes House is a public and permissionless auction house for Bored Apes Yacht Club, that allows any owner to list their Bored Ape for a reserve-timed auction. Reserve prices mean that owners won’t get caught out with a low floor. When a reserve price is hit, a 24 hour countdown starts on an auction that’s available to the entire internet. Any bids in the final 15 minutes will extend the auction by 15 minutes. The highest bidder wins.
Because these auctions are entirely onchain, it means that there is an entirely new type of bidder—Partybids. Anyone can come together to pool their Ether to jointly buy a Bored Ape. You’ll be able to own part of a Bored Ape for $100 instead of needing $50,000 in spare change. Instead of DAOs trying to buy all Bored Ape, every Bored Ape can be a DAO.
This is all built on ZORA. You can see the inner workings of the smart contract code on Etherscan, and you’ll quickly notice that it was deployed with no admin control and is entirely free—0% forever. It can never be stopped, and it serves as permissionless and public infrastructure that will last as long as your Bored Ape.