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FAQ - Participants
Frequently Asked Questions about Fjord Drops
No. Participants of Fjord Drops can only buy NFTs and can not sell back into the pool while the Fjord Drop is live. Users who wish to sell their NFT after purchasing can only do so via secondary sale marketplaces.
For now, we are just on Ethereum. However we are looking to support more networks into the near future.
It’s up to individuals to determine when they believe the price becomes fair and they are ready to purchase. In terms of managing the variation in weights, if a Fjord Drop has a 98% $NFT / 2% $ETH start weight and an end weight of 98% $ETH / 2% $NFT it means that if there are no buyers there will be a large difference between the starting price and end price and the price will drop significantly if there are no buyers.
Conversely, if a LBP has a 75% $NFT / 25% $ETH starting weight and then a 25% $NFT / 75% $ETH end weight, this means the difference between the starting and end price will be lower when compared to the first example if there are no new buyers. See the below example in this Fjord Drop for example weights.
Always keep in mind that demand will increase the price and it's up to you as an individual to value the NFT on its own merits and purchase it at a price that is fair to you.
There's a lot of reasons why Fjord Drops provide a superior experience when compared to dutch auctions. Here are a few below.
Fjord Drops leverage a unique customizable price discovery mechanism that allows creators to optimize for selling out their collection without introducing the gas wars associated with free mints.
Fair Market Pricing
Since the NFTs are minted via dynamically weighted pools, each mint has an impact on price movement. Early in a Fjord Drop, significant mint activity will have an outsized impact on price, versus mint activity towards the end of the drop. This special drop design creates an interactive mint experience, encouraging purchasing from prospective buyers and ensuring the final price of the NFT reaches a fair market price based on buyer demand.
Interactive and Engaging
The buying and minting experience of NFTs on dutch auction platforms is monotonous and typically lacks an engaging element. The Fjord Drops live pricing chart provides a truly interactive, immersive experience for NFT minters. Unlike straight line Dutch Auction pricing, Fjord Drops pricing is responsive to demand. So even if price is designed to move from 2ETH to .2ETH, price will fluctuate down AND up in response to natural market forces. Through Fjord Drop's immersive UI, participants will be highly engaged while tracking price and activity in real time.
No Wallet Limits
As Fjord Drops are demand responsive there is no need to set restrictions on the number of mints per wallet. Wallet restrictions can be detrimental to building an organic and passionate community. Fjord Drops price discovery allows for true market value to be determined without the need for wallet restriction as market price is organically found.
Your transaction could be stuck due to it being queued in your wallet or the gas settings were not high enough for it to be accepted onto the Ethereum network. To fix this use the following instructions provided from Metamask.