These sold for 0.5ETH or ~$200 USD
You are selling raffle tix for ~0.11ETH or ~$45 USD
You are selling 25 of those tix for a total of ~2.8ETH or ~$1150
How do you justify nearly 6x the original price??
How can we be assured "it's random?" Raffles here are public with the use of the hash to ensure that it's truly random.
Hey,
Before we started the project we discussed the possibility of raffling off one of the rings with our art community and private collectors, we had interest in the idea with the ticket price suggestion being between 0.1ETH to 0.2ETH
Not sure why we need to justify selling this for whatever price we set, we've were told from the start that a price of 0.5ETH is way under-priced for the rings, for the limited run and very limited editions setup but have stuck to our initial pricing. Ring #10 which will be up for auction has already received 8 private bids, with the highest bid being 4.6ETH.
For each confirmed entry we generate a random 8 character code, a private note is then created which holds the 8 character code and a identifier for each ticket holder. The 8 character codes are shared with the artist who will select one at random and then be given access to the private note to confirm the winner, we'll then verify the winners code and inform the winner.
Any more questions let me know.
