Today, we’re launching Dynamic Pricing, a rebate dutch auction designed by Foundation. Here are the 3 reasons we can’t wait for the community to experience them:
Dynamic Pricing solves the biggest pain point for creators. Pricing a drop is an extremely complex decision. Creators are looking to simultaneously balance many conflicting variables – personal profit, collector accessibility, collector experience, probability of a mint out, among others – which can lead to frustrating outcomes for everyone involved. (Trust us, with ~3,000 drops and ~60,000 NFT mints, we’ve heard our community loud and clear.) By letting the market dictate the pricing with Dynamic Pricing, this tough decision just got easy.
Everybody wins with Dynamic Pricing. There are many flavors of Dutch auctions, and we carefully considered all of them. We ultimately chose the rebate Dutch auction because it has two extremely powerful advantages: The first is collectors get their NFTs immediately. While other formats like ranked auctions can be exciting and short-term profit maximizing, they’re a recipe for collector burnout. You have to pay continued gas fees to participate, participate at multiple time intervals, and have no guarantees of actually obtaining an NFT in the end. Bad collector experiences lead to bad collector retention for creators. Second, the rebate dutch auction ensures everyone pays the same fair price. In a rebate dutch auction, individuals who paid above the final price will be able to claim a rebate. With a "faux" Dutch auction, buyers have zero incentive to participate early, leading to gas wars, buyer's remorse, and ultimately collector burnout. With Dynamic Pricing, collectors immediately get their NFTs and everyone pays the same fair price. Creators also have a great shot at minting out their drops while retaining their collector-base. Happy collectors make for happy creators.
We’ve made rebate dutch auctions simple and available to everyone. Rebate Dutch Auctions have historically felt complex to use for both creators and collectors. We’ve designed an experience for rebate dutch auctions that’s fun, intuitive, and visually stunning. Brands like Fellowship and Bright Moments have found success in using rebate Dutch Auctions for their own premier drops - and now we’re making that same experience accessible to everyone and easier to use than ever before.
Now that our most powerful pricing tool is in your hands, we can't wait to see what you launch with Dynamic Pricing! Learn more.