Dutch auctions are the recommended model for project economics.
Dutch auction settings are based on the project collection type (Curated vs. Presents) and whether the project is the artist’s first release. For exponential Dutch auctions, artists specify the starting price, ending price, and half-life for price drops. Each collection is assigned a recommended starting value and maximum resting price guided by the collection size and series category. The recommended starting price is the value artists should use for the start of the auction. The maximum resting price refers to the base price of an auction; this is the final price tier of the auction sequence.
Art Blocks recommends using exponential decay with these values for no longer than an hour. We will monitor market conditions and adjust these values as needed. If artists want to explore a project size of less than 100, alternate sales mechanics, or have an established sales history outside of these parameters, please speak with Art Blocks’ Art Team for a tailored recommendation.
A project's pricing cannot be altered after release. Instead, artists can reduce their project size but must communicate the change with the Art Blocks Art Team in their [M_] DM on Discord. We recommend waiting at least 4 weeks before reducing the collection size.
The Art Blocks contract automatically locks projects four weeks after an artist’s final mint.
<aside> 🚨 If the artist reduces maxInvocations to current invocations, that tx is considered the start of the four-week timer until lock.
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<aside> 🚨 Open projects remain available for minting for 12 months.
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