AboutAll Parties

What is PartyBid?

PartyBid lets people pool their capital together to purchase NFTs as a team. Anyone can create or join a Party to collectively bid in an NFT auction or purchase an NFT that’s on sale at a fixed price.

How do Parties work?

Here are the main things to know:

  • Supported marketplaces: Parties can target NFTs that are available on Zora, Foundation, OpenSea, Nouns, and Catalog.
  • Auctions: When targeting an auction, a Party can collect any amount of ETH. Once a Party reaches the reserve price for an auction, it can place the first bid and begin the auction. During a live auction, if a Party has enough ETH, it can take the lead by placing the minimum winning bid. Anyone who has contributed ETH to a Party can trigger the next bid, as long as the Party is not already in the lead.
  • Purchases: When targeting an OpenSea listing at a fixed price, a Party accepts only the amount of ETH required to purchase the NFT at that price. As soon as the Party has enough ETH, it can buy the item instantly.
  • Permissionless & Trustless: Anyone can start a Party and configure it to their preferences. Funds contributed to a Party and NFTs transferred to a Party are controlled by a smart contract and are not custodied with any single person.
  • Winning: After a Party successfully acquires an NFT, all contributors whose ETH were used in the purchase are given ERC-20 tokens proportional to their contribution. These tokens represent fractional ownership of the NFT using Fractional’s contracts.
  • For developers: PartyBid’s MarketWrapper contracts provide a common interface to integrate with different NFT auction implementations. The MarketWrapper contracts can be found on PartyDAO’s Github.
  • Fee: Only on successful purchases by Parties, PartyBid charges a fee of 2.5% of both the ETH used in the purchase and the resulting tokens.

Who made this?

PartyBid is developed by PartyDAO, a decentralized software organization. PartyDAO was initially created for the purpose of shipping PartyBid V1.

How do I stay updated?

PartyDAO can be found on:

Who is Kazoo?

Kazoo is PartyDAO’s mascot.


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