What is Dynamic Pricing?
Dynamic Pricing is an automated pricing assistant that simplifies pricing for creators. With Dynamic Pricing, creators can pick a price range and let the market determine the fair price through a Rebate Dutch Auction mechanic. Everyone gets the best price.
Creators who struggle with setting the right Fixed Price for their Drops can now let Dynamic Pricing decide — while ensuring their collectors have the most optimal collecting experience.
Dynamic Pricing is a rebate Dutch auction where everyone ultimately pays the same fair price. When the auction starts, the price gradually decreases over time. Collectors are able to purchase at any price point they're comfortable with. If the auction sells out or concludes at the ending price, individuals who paid above the final price will be able to claim a rebate via our smart contract.
- No more anxiety around pricing your drop.
- Your collectors all get the same best price.
- Everyone gets a better selling experience.
To learn more about Drops, check out the Drops FAQ.
What’s the difference between Fixed Pricing and Dynamic Pricing?
Fixed Pricing
With Fixed Pricing, creators choose a fixed price, and collectors pay that fixed price for each NFT minted from the drop. Once the NFT(s) are minted from Drops, collectors can also resell them in our secondary market via Reserve Auctions, Buy Now, or Offers.
Dynamic Pricing
With Dynamic Pricing, creators can set a price range and auction duration. During the auction - the sale will start at the higher starting price, and then the price will decrease incrementally until it mints out or reaches the creator's desired resting price. Collectors have the option of minting at the starting price when the auction begins, or as it decreases to its resting price. After the sale concludes, early collectors can claim a rebate if the final price is lower than the price when they collected the NFT(s). Once the NFT(s) are minted from Drops, collectors can also resell them in our secondary market via Reserve Auctions, Buy Now, or Offers.
What happens during a Dynamic Price drop?
The price will decrease over the sale duration. Collectors are able to purchase at any price point they're comfortable with. After the auction concludes, early collectors can claim a rebate if the final price is lower than the price when they collected the NFT(s).
How does the price decrease?
Creators define the price range and sale duration for their auction. Dynamic Pricing acts as a pricing assistant that takes the creator's price range that they’ve defined, and decreases the price based on the sale duration.
How do I mint from a Dynamic Price drop?
Navigate to a drop and click “mint” – it’s that easy!
- Navigate to the drop collection page.
- If the Mint button is available, click Mint to purchase up to 10 NFTs from the drop.
- Confirm the transaction in your wallet.
- Pay the required gas fee to complete the transaction.
Once you’ve minted an NFT from a drop, you’ll want to stay tuned to the creator’s communication channels to find out when the NFT asset will be revealed. Once revealed, the final asset for the NFT will replace the pre-reveal asset.
What if I was an early collector of a Dynamic Price drop?
You will be able to claim a rebate on the drop contract page once the sale has concluded, or if the drop mints out during the auction. You will be refunded for the difference of the price you paid and the price the sale concluded at.
How do I schedule my drop with Dynamic Pricing?
You can schedule your Dynamic Pricing after creating your drop contract. Once you deploy the drop contract, you will then be prompted to schedule your drop and select the sale method. Learn how to schedule your drop.
When do I get the ETH from my auction?
Once your auction has concluded, you can proceed to withdraw your drop earnings on your drop contract page. This will send the ETH from your drop sale directly back to your wallet. After settling the auction, all future mints will be automatically sent to your wallet if your drop hasn’t minted out yet.
What happens to my drop after the auction?
Once the auction time is over - the drop will turn into a Fixed Price drop where all of the remaining mints can be purchased at the resting price.
If your drop mints out during the auction - the sale will conclude, and you will be able to withdraw your earnings.
Can I add a presale with Dynamic Price drops?
The presale feature isn’t supported with Dynamic Pricing.
Can I self-destruct a Dynamic Price drop?
You’ll be able to self-destruct a drop with no mints by following these instructions here: Burning (deleting) and self-destructing on Foundation. Please reach out to Foundation Support if you have any questions and we'll be happy to help.