How did it sell for 10x of the expected auction price?
I understand that they thought they were buying the IP, but who was bidding against them?
I guess I'm asking if the seller or another party could see their publicly available bidding strategy and pushed the price up knowing their limits?
*100x. One of the other threads mentioned that they had to post their maximum bid publicly in a blockchain somewhere as part of the “dao” before the auction, so someone could easily have seen what they were willing to bid, and just bid them up to it.
I don't think that's true. From Buzzfeed article, it looks like a 25 year old crypto millionaire bid on this, and the SpiceDAO raised $12 million after the fact and are going to reimburse him (and use the rest of the funds for this derivative work)
I wasn't clear, but the winning bidder wasn't the DAO, so it's not like the Constitution DAO where they said "We raised 35 million to bid". The winning bidder used his own eth to win the auction and is only now going to be reimbursed by the DAO (who raised $12 million). So my point was that the winner bidder didn't disclose their max bid like the commentor said.
