PartyBid is a protocol developed by PartyDAO that allows groups of users to collectively bid on NFT auctions. If the auction is won, ownership of the NFT is split amongst the party using Fractional. Here are 5 key insights 👇
1/ 3,421 ETH has been contributed to bids by 2,353 unique wallets.
2/ 172 parties have been started since the protocols August launch.
3/ The biggest partyBid of all time was ‘Party of the Living Dead’, which had 1347 ETH in contributions from 478 members and spent 1201 ETH to win the auction for a Zombie Punk.
4/ The top 20 partyBid users account for 47% of all the ETH contributed to parties on the protocol.
The partyBid + Fractional story is a perfect example of the massive potential unlocked by web3 composability.
It’s a win-win-win relationship. Users get a fun group buying experience on partyBid. When they win an auction, partyBid earns a service fee. And in an instant Fractional has a batch of new users onboarded to the platform.
Suffice to say, the days of walled garden dominance are numbered.
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