Bounce Brand launches a new brand branch, Bounce Auction, focusing on on-chain physical auctions.

Odaily Planet Daily reports that the Masters of Time luxury watch $auction series has officially launched. Every two weeks, a luxury watch will be auctioned on the Bounce app in the form of an on-chain lottery. Each $auction opens for a participation period of one week, during which users can purchase lottery tickets to participate. Each ticket costs 5 $AUCTION tokens, and a single address can buy an unlimited number of tickets.

After the $auction ends, a smart contract will randomly select one ticket as the winning ticket, and its holder will win the watch for that $auction period. The winner will receive an NFT as proof of ownership of the watch. This NFT is transferable, and any holder can claim the corresponding watch at the Bounce event held at Token 2049 in Singapore.

The first item in the Masters of Time series is an Audemars Piguet Royal Oak series automatic on-chain watch. Follow the official Bounce $Auction X account for the latest $auction updates.