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The Non-Existent Token
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HOW IT WORKS

Each bid must be 10% higher than the one before. The previous bidder will immediately receive their money back + 5% (minus gas fees). The rest is the artist's royalty.

A winning bid receives an NFT in their wallet of a bubble. As soon as there is a subsequent bid, the bubble passes on to the next winner. The previous transaction will become a receipt which advertises your return.

A portion of the artist's proceeds will be allocated to carbon offset credits, making this a carbon neutral project.

**Once your bid has been accepted, your maximum bid is cancelled, and you must re-submit a bid.

THE NFT

Each bid generates a unique animation with a growing number of bubble particles and size variations. The Boltzmann Entropy equation was used to calculate and design the NFT. The entropy of the non-existent token NFT is proportional to the number of sales, and represented by the number and variation of bubble particles.

LONGEVITY

The auction goes on forever. You may be the winner for a year, or more. Someone can always outbid, as long as the ethereum network is still running.
Each unique animation has a different number of bubble particles and different size variations between bubble particles based on a function inspired by the Boltzmann Entropy equation: S = k ln(W). This equation relates the entropy of a macrostate (S) to the number of microstates corresponding to that macrostate (W). In this case the number of microstates is proportional to the number of sales, and the entropy of the macrostate is represented by the number and variation of the bubble particles.
The specific equations used for this progression are:
Particle Count: 12 + 500 * ln(1 + N/100)
Particle Size Variation: 0.1 + 0.15 * ln(N)

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WARNING

Keep the address with which you bid safe, because it will be the one where ETH will be returned.

Your bid may be locked up for an indeterminate period of time. (seconds, minutes, weeks, eternity)