Description

Dynamic Drops allows creators to launch NFT collections with dynamic pricing. Creators can release NFT collections and let market demand determine the minting price in real time.Low rate of minting? Price cools off. Lots of minting? Price heats up! Dynamic Drops unleashes the free market economy of NFT sales. Who is this for? Dynamic Drops doesn’t make sense for an artist minting a single NFT. But if you are an artist/creator/project with hundreds to thousands in your collection, this is the place to “drop your drop”. Why Dynamic Drops? After working hard on designing your collection, you face a sudden choice—what price to put the mint at? Of course you want to find the “Goldilocks number”—not too high, not too low. But how much is that? Why not let the market decide?! Let your collection price itself! If demand is going crazy, the mint price will climb. Similarly, if sales are stagnating, the price will adjust—dropping until sales pick up again. Dynamic Drops is designed to sell out your collection, whether sales are slow, or you sell out in seconds! How does it work? Basically, when minting your collection you set a target price and duration of sale. This estimates an expected rate of minting (e.g. 10 NFTs per hour). If less than 10 NFTs are minted per hour, the price begins to drop. Once minting picks up again, the price will begin to increase. This dynamic pricing continues throughout your sale.

Dynamic Drops showcase

How it's made

Dynamic Drops extends the CRISP open source contracts (paradigm.xyz/2022/01/constant-rate-issuance-sales-protocol) recently shared by the Paradigm research team. We have forked the CRISP contract, and built an API to allow creators to deploy NFT collections with their specific parameters. Furthermore, we have made it easy for users to upload and pin their metadata files to IPFS using the Pinata API. Finally, we have built a clean user-interface with React and MetaMask, to facilitate creators in deploying collections with dynamic pricing, and collectors to mint their NFTs.