Yokefellow - Blog
Auction House Policy
Auction House lets users list and bid on transferable Yokefellow-native NFTs while keeping the issuing bucket, metadata, rights, and limits attached.
Auction House Policy
Auction House is Yokefellow’s resale surface for transferable Yokefellow-native NFTs and NFT-backed outputs.
It exists so a holder can list an eligible asset, another user can bid with YES, and the asset can move through a Yokefellow-native auction path without losing the context that made the asset meaningful in the first place.
What Auction House is for
Auction House is for recognized Yokefellow assets that are allowed to transfer.
That may include NFT-backed outputs from buckets, apps, offerings, or other Yokefellow surfaces where the asset’s transfer posture allows resale.
The purpose is simple: if a user owns something transferable inside Yokefellow, Auction House gives that asset a native resale path.
What Auction House does not change
Auction House does not rewrite what an NFT means.
The issuing bucket, offering, class, metadata, and attached conditions still define the asset. A resale does not expand the right, reset the asset, remove restrictions, restore a used benefit, or turn a narrow right into a platform-wide right.
A buyer receives the asset in the state it is actually in.
If the asset has redemption state, use state, depletion state, transfer limits, expiration, or other conditions, those conditions remain part of what is being bought.
Eligible listings
An asset should only be listed when it is:
- recognized by Yokefellow
- held by the seller
- transferable under its real rules
- not already locked, consumed, burned, or otherwise unavailable for resale
- shown with enough context for a bidder to understand what they are bidding on
Auction House is not a generic marketplace for unrelated NFTs. It is for Yokefellow-native assets the platform can recognize and present with their bucket, offering, and metadata context.
Bids and YES
Bids are made in YES.
When a user places a bid, they are committing YES under the auction rules shown on the listing. A winning bid may settle into a completed purchase if the auction closes under the stated conditions.
Users should check the bid amount, the asset, the issuing context, and the auction terms before acting.
Seller responsibility
A seller is responsible for listing only assets they actually control and only assets that are eligible for transfer.
A seller should not describe an asset in a way that promises more than the issuing bucket, offering, or metadata actually supports.
Buyer responsibility
A buyer is responsible for reading the listing before bidding.
That includes the asset name, image, issuing bucket, output type, lifecycle state, transfer status, use or redemption state, and any visible limits or conditions.
A buyer should not assume every NFT is unused, unrestricted, redeemable, permanent, or useful everywhere.
Platform handling
Yokefellow may remove, hide, pause, reject, or reverse the visibility of listings that appear invalid, misleading, abusive, technically unsupported, or inconsistent with the asset’s real transfer posture.
Yokefellow may also update Auction House behavior as the app develops, especially around listing rules, bid handling, settlement, metadata display, and recognized asset checks.
Practical rule
Auction House lets transferable Yokefellow assets move.
It does not erase where they came from, what they mean, or what limits still apply.
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