On Open Edition NFTs

•

Wondering about the open edition NFT meta? An open edition NFT describes a project with an open supply and distribution mechanic. Anyone can mint them indefinitely and or until the contract creator closes the mint.

The former describes unlimited open edition mints, while the latter are time-limited open edition mints.

Open edition NFTs are usually easy or cheap to mint. They're often identical in appearance. The rarity collection size and rarity of a open NFT project is set once (or if) the creator closes the mint, rather than beforehand.

Collectors can sometimes burn open edition NFTS to get unique NFTS from the creator.

An artist can create an open edition NFT project and then decide on the mint price, mechanics and when (or if) it'll close.

For an open Edition NFTs, they use the ERC-1155 rather than the ERC-721 standard. This standard enables batch transfers of tokens of NFTS, i.e., it's easy to mint multiple tokens at once. NFT minting platforms like Zora Manifold provides artists with a burn-redeem utility.

Traitors by XCOPY Traitors by Xcopy was a 5-minute time-limited open edition. Xcoy opened the mint briefly for five minutes, and collectors minted 51, costing $9,999 per pierce.

The @goblintown project one of the big mints of 2022. The open edition NFT project dropped at the start of the NFT bear market in May 2022. A free mint, this PFP project captured the attention of NFT degens and maxed out at 10,000 NFTs.

Checks VV by @jackbutcher was open to anyone to mint in January 2023. It cost just $8. Each of the NFTs looked the same at first. Butcher subsequently experimented with the metadata and created an on-chain version.

Opepen Edition is another Jack Butcher project. Butcher is already experimenting with the project's metadata and has teased turning it into a potential PFP project to followers and collectors.

Nouns and Lil Nouns DAO Both @nounsdao projects are examples of open edition NFTs with an unlimited minting mechanic. Anyone can mint either project without relying on a whitelist once they pay the cost of mint. The mints are open indefinately.

In the case of Nouns DAO, one new NFT mints daily, while one Lil Nouns mints every fifteen minutes. However, Nounds DAO usually costs more than 35 Eth to mint. Lils Nouns is much more affordable.

The Memes by @punk6529 comprise a series of near daily NFT mints by the space's best-known artists. A set amount of each card usually mints on Manifold.

Each card set has variable minting mechanics depending on how many meme cards a collector already owns and which type. In some cases, the Meme cards are easy to acquire. In other cases, a rarer Meme card is much more expensive.

Irish artist @kevinabosch is a noted one-of-one NFT artist. His most famous NFT Forever Rose sold in 2016 for $1.06 million. More recently, Abosch released his Open Edition NFTs following the success of Checks. These were a near-free timed open editions.

The Nyan Balloon project by @PRguitarman was a somewhat affordable open edition mint. Collectors minted 21,191 NFTs for a modest 0.0077 ETH in January 2023. Collectors can exchange a red ballon NFT for versions with different color ballons.

Bull Run, Infected and Into the Ether @Beeple dropped these three open editions on Nifty Gateway in 2020. One hundred and twenty-three people minted Infected, 207 people minted Into the Ether, and 271 people minted Bull Run, each for $969 before the mints closed.

On February 3, 2023, musician Snoop Dogg dropped a two-minute music NFT titled “XYZ” as an homage to Sound.xyz.

They cost a modest 0.0042 Eth, and collectors minted 10498 before Snoop closed the mint. Each image and audio clip are identical, much like buying a CD or MP3... except it's an NFT.