Schedule your Dynamic Price drop

Now that you’ve selected the Dynamic Pricing sale method, you’ll configure the Dynamic Pricing of your auction and schedule the drop. Once you complete these steps, anyone can mint up to 10 NFTs from your collection if you start your drop immediately or at a future date and time.

What you’ll need

  • A starting price
  • A resting price
  • A sale duration
  • A launch date and time

Select pricing

Here, you will define the decreasing price range for your auction and select the starting price, resting price, and sale duration.

Pricing.png

Starting price

The starting price is the price your drop will start at when it’s launched.

Resting price 

The resting price is the lowest price the drop can go; it will not go under this price. If your drop mints out above the resting price, the resting price will never be reached. 

Sale duration 

The sale duration is the length of the dynamic auction.

When the auction ends, the drop will turn into a fixed price (your resting price) drop that will remain open until it’s minted out. Creators also claim their earnings on the drop contract page when the sale concludes, and the price is known.

 

Set a launch date and time

Launch-indie.png

Here you will set the launch date and time for your drop to open to the public for minting.

You can schedule it for a later date or start it immediately. During this step, you can also choose to launch your Dynamic Price drop into a gallery.

 

Add your Dynamic Price drop to a gallery or exhibition

If you’ve been invited as a seller in a gallery or exhibition, you can launch your drop in a gallery or exhibition. Once a drop is added to a gallery or exhibition, the curator will collect a percentage of the price each time when an NFT is minted from your drop. This curator fee does not apply to secondary sales of your drop.

Launch-world.png

To launch your drop in a gallery or exhibition, simply toggle the “Launch in a gallery” setting and select the desired gallery or exhibition from the dropdown. Take care when choosing the gallery or exhibition, and keep in mind that the connection to the selected gallery cannot be changed after the edition contract is deployed. Self-destructing the drop will remove it from the gallery or exhibition. 

Review

After setting and confirming your Dynamic Pricing, click Continue to review your drop details and schedule your drop. After deploying your contract, these details cannot be changed, so you’ll want to confirm the date and time that your drop will begin minting.

Once confirmed, click Continue to review your drop details.

  1. Click the Confirm onchain button. 
  2. Approve the gas fee: A message will appear within your connected wallet for you to approve the gas fee to start your drop.

Gas fees are the cost of interacting with the blockchain. Gas fees are not set or collected by Foundation.

Your drop is now scheduled or ready for minting! We’ll send an email to all of your followers on Foundation to let them know your drop is scheduled or starting.

Customize your drop page

Edit

Once your drop is deployed to the blockchain, it will be represented with its own page on Foundation that you can access from your profile. Add a collection logo, cover image, and description to make your drop landing page stand out! You can also edit the drop URL. This information on your drop page can be edited at any time.

  • Brand color. Provide the hex code to brand your Drops page with a specific color. This is the color representing your auction dial. You can set that to a custom color.
  • Logo. This is the image representing your drop.
    • Recommended Spec: 1920 x 1920 JPG, PNG, or GIF. 10 MB max.
  • Cover Image. This is the image at the top of your drop page.
    • Recommended Spec: 2800x2000 JPG, PNG, or GIF. 10 MB max.
  • Description. This is where you can describe your drop in more detail. 
    • Recommended Spec: Use 500 characters or less.
  • Collection URL. This is the URL of your drop, and you can use this link to share your drop with others.

You’ve successfully created your Drops contract, scheduled your Dynamic Pricing, and customized your drop page. We recommend that you start building awareness, growing your community, and telling the story of your work now.

Now that your drop is ready for minting, it's time to start preparing for the reveal. One key date to prepare for moving forward is your reveal date. 

The reveal date is the date that your drop’s final assets will be revealed to your collectors.

  • For the final assets, keep in mind that Foundation has a file size upload limit of 50 MB, and we currently support JPG, GIF, PNG, SVG, MP4 + MOV files.

Continue on to step 3 to reveal your drop.

 

Withdraw drop earnings

Unlike a Fixed Price drop, you will need to manually withdraw your drop earnings. You can do this any time after the drop mints out or after the dynamic period of the drop ends, whichever happens first. This is because we need to know the final, fair price of the drop to calculate the final sale.

Withdraw

After withdrawing the funds, the funds from all subsequent mints (if applicable) will be automatically sent to your wallet if your drop hasn’t minted out yet, just like a Fixed Price drop.

Withdraw

If your drop mints out during the auction - the sale will conclude, and you will be able to withdraw your earnings. Please reach out to Foundation Support if you have any questions!

Still have questions?

The easiest way to get support from our team is to get in touch with us.

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