Nifty Gateway Studio (NGS) offers a range of mechanisms for participating in primary market releases, providing artists and curators with flexible ways to launch their productions:
Open Editions: Open Edition items are sold at a fixed price (e.g., $100) and are available for a set period (e.g., 5 minutes) once the release begins. The number of editions purchased determines how many items are minted and distributed to collectors. Delivery may not be immediate, as popular collections can take up to a few hours to mint onchain, after which they will appear in your account.
First Come, First Serve (FCFS): FCFS items are set at a fixed price (e.g., $500) with a limited number of editions available (e.g., 15). Once the release begins, the items will be available on a first-come, first-served basis until all editions are purchased.
Blind Editions: Blind Editions combine elements of both Open Editions and FCFS. The maximum supply of each edition is hidden from collectors, and minting ends once the supply limit is reached.
Drawings: Drawings are designed to give all collectors an equal chance. A set number of items (e.g., 10) will be available, and the drawing will be open for a specific period (e.g., 30 minutes).
Once the entry period concludes winners will be randomly selected and automatically charged for the price of the item. Additional Information:
- Edition #'s will be randomly assigned
- Only one entry per user unless otherwise specified
- You must have a validated profile and payment method to enter
- If payment cannot be processed at selection time a new winner will be selected
Auctions: During auctions, a single artwork will be made available for a set period of time. Collectors will have the opportunity to enter publicly visible bids as they compete against one another for the piece. When the auction period ends, the collector who has submitted the highest bid will win. Please note, when there are less than 5 minutes left in the auction, any new successful bids will reset the auction timer to 5 minutes.
Packs: A pack consists of a set number of items, with each pack containing a mix of unique items in varying quantities. When you enter a pack drawing, your odds of winning each unique item will vary.
Silent Auctions: During the auction period, collectors can place blind bids on an item. Once the auction concludes, the highest bidders will win and pay the price they bid. If the auction involves editions, they will be assigned based on bid amount, with the highest bids receiving the lowest numbers.
Ranked Auctions: Ranked Auctions are similar to silent auctions, but all bids are publicly visible. Once the auction concludes, the highest bidders will win and pay the price they bid. If the auction involves editions, they will be assigned based on bid amount, with the highest bids receiving the lowest numbers.