Raffles

• What is the winner's prize?

50% of the total Minima raised. Note that the prize increases with the number of NFTs sold to a maximum equal to half of the Full NFT Raffle's Collection value.

• What happens with the other 50% retained by the Organiser?

The other 50% retained by the Organiser will be split as follows:

• 50% will be held and stored for future usage with various different targets including (but not limited to) Minima NFTs ecosystem growth and development, future events, raffle's bonuses and prize increases, donations, fundings of other Minima related projects and more.

• 40% will be equally re-distributed back to all participants (excluding the lucky winner) as consolation prize.

• 10% will be directly burnt to support the deflationary mechanism of the Minima coin and stimulate its scarcity.

• How is the lucky winner selected?

Upon raffle's conclusion the Organiser will, at the earliest convenience, interrogate the Minima Blockchain on the so called resolution date. Every minima address (excluding that of the Organiser) in possession of the raffle NFT will be automatically assigned an integer number (from 1 to the number of NFTs sold, in the same order as displayed by the blockchain) and as many as the amount of NFTs in their possession. This will conform the list of candidates (LOC) opting for the prize. A random number (in the range of the LOC size) will then be generated with the help of a true random number generator (TRNG). The winner's prize will then automatically be sent to the minima address from the LOC whose associated integer number corresponds to the random number generated. The rest of minima addresses within the LOC will automatically receive the consolation prize.

• What if the raffle NFT price has undergone a discount after I purchased it at a higher price?

As soon as there is a price discount, all previous buyers will be refunded the difference to benefit from it with immediate effect. On the resolution date, each participant will have acquired the NFT at the lowest available price in order to equalise contributions and ensure a fair raffle to everyone.

• What if the raffle concludes without having enough participants?

As long as there are at least three buyers, the raffle will proceed as normal since the winner will obtain some profit. However, in the rare event where there are only one or two buyers after conclusion, the Organiser will refund, in full, all the buyers. They will be allowed to retain the raffle NFT and re-sell it into the market as digital art. 

• What if the raffle concludes before every NFT has been sold? That will increase the chances of the Organiser being the lucky winner...

No, the Organiser cannot participate in any way in the raffle and will be excluded from the list of candidates opting for the prize. The lucky winner can never be the Organiser.

• What happens to the unsold NFTs?

The Organiser reserves the right to keep selling them in the market upon raffle's resolution. However, these (as well as any other re-sold NFTs from the participants) will no longer possess any raffle rights and will be sold as digital art in the market.

• Can I purchase more than 1 NFT? Will that increase my success rate?

Yes and yes. We cannot control a buyer purchasing several NFTs from different wallets, hence, we directly allow multi-purchase from the same address. However, please do your own maths before proceeding to ensure you do not carry an unexpected loss, even in the event of you being the lucky winner.

• How can I follow the progress of the raffle?

All the information will be duly posted on this website, including all resolutions and corresponding transaction proofs for full transparency. Additionally, we might post communications through the various decentralised channels and social networks available within the Minima Ecosystem, and in particular V. We really encourage everyone to follow us in there.