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A detailed overview of the different pricing models that fxhash provides, an explanation on setting primary and secondary (royalty) splits on your projects, as well as some considerations on choosing an appropriate price point for your project.

This section focuses on step 7 of the minting process, breaking down each aspect and guiding you on choosing the right pricing model, price point, and supply for your project:

When publishing a project on fxhash, artists can choose between two pricing models:

When selling iterations of a project with a fixed price, you simply need to specify the price at which it is sold and indicate an opening time for the project to be released.

Setting up a Dutch Auction involves specifying the start time, price decrement steps, and time intervals:

How does this work? The Dutch Auction begins at the opening time, with the first price of the list. After every time step, the next price in the list becomes active. This is repeated until the last price of the list is met, ie the reserve price. For instance, if you set the following settings:

Your project will only become mintable (even by yourself) on the 01/01/2100 at 00:00. The starting price will be 50. After 10 minutes, the price will become 30. So on so forth until the reserve price of 2 is met at 00:40. Then the price will never change.

When publishing a project, you can define how proceeds will be split on both the primary & secondary market. Blockchain technology and smart contracts offer a lot of flexible options to configure these.

With primary splits we refer to the collect transaction that collectors perform when they mint an individual GENTK from an fxhash project, essentially creating this GENTK:

As the creator of a project you can choose if you’d like some of these primary proceeds to go to another wallet, this can be maybe the wallet address of someone that helped you develop your project, the wallet address of the creators of a library that you’re using in your project, or even a charitable organization. You’d simply have to add in their wallet address and indicate what percentage of the primary proceeds should go towards that address:

fxhash also provides a list of endorsed addresses that you can donate to if you choose to do so:

Secondary proceeds are artist royalties that are received whenever a GENTK from one of the artists’ projects gets resold on the secondary market:

This royalty percentage can be set at mint time when creating a project:

Additionally, the artist can choose to reward initial collectors with a share of this royalty percentage. Meaning that they will receive a share of the secondary proceeds whenever a secondary resale occurs. You can also add other wallet addresses to receive a share of secondary proceeds, however we recommend keeping the number of splits under 10, because otherwise it will make any transaction where the splits have to be distributed slightly more expensive for the initiator of the transaction.

Deciding on a price point for your work is a challenging yet necessary step before releasing your project on fxhash. Some general considerations for both emerging and established artists in this regard are:

These are some of the aspects that you should keep in mind to find a good pricing/edition ratio, ultimately you need to strike a balance that considers all of these aspects. Beyond these general considerations, there’s also some different considerations depending on your state as an artist; if you’re just starting out, or already have quite a few projects under your belt.

If you’re a new artist and are about to publish your first couple of projects your pricing is crucial. Without an active collector base, you’ll find it easier to attract collectors with lower prices, offering a low barrier to entry to new and established collectors. Besides the general considerations above, you can ask yourself some other questions and examine what other artists are doing on fxhash:

Once you've answered these questions, you should have an idea of where you’d like to price your upcoming project.

If you have an active collector base and are ready to release a new project on fxhash — pricing becomes much more complicated and may require extensive consideration. Below is a list of recommendations to employ while determining the price of your work.

Median floor price What is the median floor price of your work across your collection of projects? For example, if your median floor price is 250 XTZ across two previously minted projects on fxhash — 250 XTZ may be the ideal starting price (fixed or DA) for your next release.

Hype and botting consideration Established artists are typically targeted by bot networks that have the potential to mint out projects instantly. With this in mind, it’s recommended to price your upcoming project at a price that will deter bots while allowing real collectors a chance to purchase your work. To do so, fxhash enables artists to harness Reserve Lists (Allow Lists) and Dutch Auction.

Dutch Auctions generally favor a very high starting price, decreasing over time to more attractive prices for collectors of all levels. Although bots may still present a problem at a Dutch Auction's lower levels, more collectors are likely to purchase your work than if you had yet to employ the DA mechanic.

Example 1: You want to avoid an instant mint of your new 256 edition project that’s receiving a lot of hype on Twitter and Discord. Instead of using a fixed price mechanic of 250 XTZ, you can set the DA to 1,000 - 750 - 500 - 250 - 100 XTZ. In this example, the artist provides a range, and the market participants (collectors) determine the fair and final value. Suppose you want to avoid utilizing the DA mechanic but want to ensure your work gets into the hands of previous collectors. In that case, the Reserve List is an excellent method to generate a list of prior supporters’ wallets. Whether you choose to produce a 100% Reserve List or a 50% AL/50% Public FCFS (or any other ratio) is your decision. Example 2: You want to reward your collector base by ensuring they have unencumbered access to your upcoming 500 edition project. You can generate a list of wallets that hold at least one of your previous works and then use a lottery system to pick 500 winning wallets. Once the mint is live, only these 500 Allow Listed wallets can access the project. After a predetermined time, you can open the project to the general public on a FCFS basis if the project is not minted out. In this example, pricing is flexible due to the absence of bot networks.

Example 3:

Similarly to Example 2, you could also over-allocate the allowlist, meaning that more collectors are allowed to mint than the project's edition size. This encourages minting, as supply is less than demand. After a predetermined time, you can open the project to the general public on a FCFS basis if the project is not minted out. In this example, pricing is flexible due to the absence of bot networks.Read more on reserves in the Reserves documentation.

Overall, artists should understand the constant shift in market dynamics. In general, instant mints are detrimental to new and established collectors alike. Higher prices are generally known to slow minting speed but also produce a barrier to entry of its own to new collectors. Established artists should understand that fluctuating market dynamics make it incredibly challenging to find the ideal price to satisfy everyone. However, fxhash offers a wide range of useful tools that allow the market to determine a fair value (Dutch Auctions) and the ability to show your appreciation to previous collectors with Reserve Lists.

Ultimately, it’s your decision to price your work as you see fit, but hopefully, this document helps you find the ideal balance while pricing your work on fxhash. If you’re still experiencing issues regarding pricing, please head over to the our Discord and ask for feedback over there!

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