How shards work
A card in the vault becomes 16 to 512 tokens. Here's what that means for you.
What you own
A shard is an ERC-20 token for a fixed slice of one physical card. 1 of 16 shards is 6.25% of that card.
How you buy
In an auction you set a budget and the most you'd pay per shard. Everyone pays the same final price. Unspent USDC comes back.
What it's worth
The auction clearing price, compared live with the Scryfall market price divided by the shard count.
How it ends
Whoever reaches 80% can buy out the rest at the higher of market and clearing price, and collect the card with a Passport check.
Example: Black Lotus in 16 shards
Market $25,000 → about $1,562 per shard. The owner kept 13 and sold 3 at $1,712 each. At 81% they can buy out the last 3 for $5,136 plus the 2.5% vault fee, and take the card home.