A Velocity Edition is a dynamic type of NFT drop where the minting process becomes more intense as time progresses. Instead of a fixed supply or a simple time limit, Velocity Editions introduces a unique mechanic where the available minting time decreases with each new mint. This creates a sense of urgency and excitement, making the experience more engaging for collectors motivated by the challenge of securing their edition before time runs out.
Key Features of a Velocity Edition:
Decreasing Mint Time: Every time a collector mints an edition, a specific amount of time is subtracted from the minting period, accelerating the process and increasing the pressure to act quickly.
Changing Time Limit: The duration of the mint is not fixed; it changes based on the collectors' activity. As more editions are minted, the remaining time to mint decreases.
Here's the How-To Guide:
Before deploying your contract make sure to bridge some ETH to Shape.
Use an official Shape bridge.
Connect your wallet and ensure you're on the Ethereum network.
Specify the amount of ETH you want to bridge.
Confirm the transaction and wait for it to be processed.
Deploy Your 1155 Contract
You can start by deploying an ERC-1155 contract on Shape. This contract will serve as the foundation for your edition.
Mint Your Token
Mint the token for the pieces you want to create an open edition of. If no editions are reserved, mint a token quantity of 0. If you want to reserve a specific number of editions for yourself, you can do so by specifying the quantity and minting to your wallet address.
Create Your Stack
Go to the contract dashboard and select "Create Stack" to set up your mint page.
Choose the 1155 token that you want to use for your open edition. Currently, you can only create one artwork edition per mint page.
Name Your Stack and Set URL
Name your Stack and customize the URL slug if needed. This is the web address where collectors can find your mint page.
Add Your Payout Address
Enter the wallet address where you’d like the primary sales revenue to be sent. This ensures you receive payment directly from the mint.
Set Your Mint Start Date and Time
Choose the date and time when your mint will go live. If you’re planning a pre-sale, this will be the start time for the pre-sale mint.
Select "Velocity Edition" for the mint mechanic.
Configure your Velocity Mint
Set your mint duration: 12 hours, 24 hours, 48 hours, and 1 week.
There is no pre-sale option for Velocity mints.
Set your decay rate. The decay rate refers to the amount of time taken off the sale clock with each NFT sold. Options include: 1 minute, 2 minutes, 3 minutes, 4 minutes, 5 minutes, and 10 minutes.
Specify your public sale price.
Specify the maximum mint allowance during the public sale.
Configure your Stacks Page & Launch Your Velocity Edition