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How to Participate in a Fjord Drop
For users who wish to mint an NFT via Fjord Drops
The following documentation is to help users who are new to cryptocurrency participate in a Fjord NFT Drop on the Fjord NFTs platform.
Ensure you have Ethereum in your wallet. For now, Ethereum is the only accepted funding token that can be used to purchase NFTs.
Step 2 - Connect wallet
Connect your wallet as prompted in the top right hand corner of the screen.
When you connect you are required to agree to our terms and conditions. Metamask is the only wallet available for now, more wallets will be added over time.
For users connecting for the first time you will be required to approve interaction with the Fjord NFTs platform.
Once your connection is successful you will see your wallet ID show in the top right hand corner alongside the icon of the network you are connected to.
Step 3 - Find a Fjord Drop to mint
Fjord Drops can be find one of the following ways.
- Direct links from creators and other sources.
- Navigating to 'Fjord Drops' in the main menu.
When navigating to the Fjord Drops page you will see a list of NFT drops, that are either completed, in progress or in the pre drop stage.
🔵 = Pre drop stage
🟢 = Live drops
Fjord Drops that are in progress and ready to participate can be identified by the 'Live' text in addition to part of the projected price curve being completed.
The features that make Fjord NFTs unique mean that the distribution is typically more equitable, open and transparent. This is due to the price decay model, where the price of the NFT moves from a higher price to a lower price depending on the weights set up by the Fjord Drop creator. This is done to prevent bots, frontrunners, and whales from scooping up all the supply that happens on other platforms.
This also means that it is important to be wary at the beginning of the drop, as NFT creators set a higher price at the start of the drop to prevent sniper bots. If there are no new buyers at the higher early prices, the price then reduces over time to a more realistic price. However, during the course of the drop buyers may step in once the price reaches a more realistic point. Be careful not to wait too long, otherwise price can increase quickly and move away from anticipating buyers. It is up to individuals to decide what price they think is fair based on the research they have undertaken. Like any liquid asset in crypto, prices can be volatile.
Note - Slippage
When initiating a swap transaction on Fjord Foundry and other protocols built on blockchain your transaction may be subject to slippage. Slippage refers to the difference between the expected price of a trade and the price at which the trade is executed. Slippage can occur at any time but is most prevalent during periods of higher volatility.
To set the level of slippage you are comfortable with, click the gear icon.
You will then see a several slippage percentages. You can choose one that you are comfortable with. If you wish to make a custom slippage percentage you can customise the number that is in the square shaped 20% box.
Once the NFT reaches a price point you are comfortable paying, and you are comfortable with your slippage settings click MINT.
You will then be required to approve the transaction in your Metamask wallet. Follow the prompts and click 'confirm'.
Once this swap is done, voila! You will have your NFT.
Depending on the drop settings the NFT may or may not be immediately revealed. This setting is determined by creators. We encourage you to communicate directly with creators regarding this setting.