On Glass, we’ve tried just about every NFT sales mechanism in the game.
Reserve Auctions
Limited Editions
Bonding Curves (aka PRISM)
We have always been in search of that sweet spot between opinionated design and creator flexibility, and ultimately takes away the stress of a drop so creators can focus more on creating what they want to create.
Imagine an NFT drop that combined:
The collective ownership of limited editions
The hype of a bidder coming in clutch in an 1/1 auction
We’re proud to unveil a new type of NFT mechanism that brings reserve auctions and limited editions together.
Anyone whose dropped an NFT can attest to the stress. The pressure of selling out. The challenge of getting collectors to buy in to a piece that dropped multiple days ago.
It’s hard to choose the right supply. And every video is different. What works for one may not work for the other. There’s also a fear that maybe a drop that doesn’t “do well” will discourage other collectors from joining.
Well, what about range editions? There’s still that disappointment that comes from setting a goal and not reaching it, that not just the creator feels but also the collectors.
We think there’s more work to do, so we decided to tackle that problem head on. We came up with a solution that not only removes the pressure of selling out… but also happens to be a lot of fun.
Here’s how it works:
A creator uploads a video and sets a minimum supply and a (hidden) maximum supply.
When the minimum supply is sold, the supply increases by 5 and a timer is set for 1 hour. Collectors have 1 hour to hit that new milestone.
Every time a new milestone is reached, the timer resets and the supply increases. This continues until either the maximum supply is reached or the timer expires.
Let’s look at an example:
A creator drops a video with a minimum supply of 5 and a maximum supply of 50.
As soon as the first 5 are sold, the timer starts counting down from 1 hour and the next milestone is set to 10.
Collectors come together before the timer runs out to get it to the next milestone.
This continues all the way until the video reaches it’s max supply of 50, or the timer expires (say at 33). Either way, the video is SOLD OUT™️.
What we love about this model is the fun it brings to the whole sale - the momentum of hitting milestone after milestone. We’re more than excited to see what the community does with it!
https://glass.xyz/watch/AhSeHAvAuJ7fos2YyydtwyKy1BuBMSgRFABt5FPAxjGP
Check out GLASS CLASS EP 003, where we dive in to milestones further.
If you’re a creator interested in being one of the early pioneers of milestones… shoot us a DM on Twitter or fill out an application. If you’re already a Glass Creator, you can try it out today on your next video!
GlassPRISM — Liquid NFT Markets
TL;DRPrism is the Uniswap for NFTs.Buy and sell NFTs instantly.Always on sale.Algorithmic price discovery.Experience it for yourself 👇https://glass.xyz/v/SVt0Ea518b5fG_FS4fxMZ0Kq8vwlVkdxl1JrVcLXhZw=The way we monetize media NFTs does not scale.At Glass, we’ve taken an experimental approach to monetizing media. We’ve offered our early creators two ways to monetize their work, 1/1 auctions and limited editions, the two most common ways to monetize NFTs today. Neither of these will work in the ...
GlassReintroducing Glass
We love watching videos.Videos are windows into people's worlds. Videos tell stories that inspire us, teach us, entertain us, and help us grow. It doesn't matter who you are, where you're from, or what you do. You can think of at least one video that's changed your life. That's the power that videos have. The power to connect with us to make our lives better. A majority of internet bandwidth is used to watch videos.Sources: Sandvine, CommScope, CartesianVideo ✨should✨...
Glass💎🙌: THE FLASHY EXPERIENCE
Welcome to The Flashy Experience27DELLY drops his debut music video NFT, on auction at a reserve price of 1.27 ETH. https://glass.xyz/embed/WsGWyesQMg6NSZPrILcqXzhrgCZDAD-erfO7_WsrEeE=?display=iframe Flashy is strictly for those with the diamond mindset. The point where your life is pushing towards greatness and you embrace your power fully. It’s a reminder to never falter in your steps and to move with the utmost confidence each time. All said and done to remain humble through it all. That’s...
Video owned by the people, not the platform.
On Glass, we’ve tried just about every NFT sales mechanism in the game.
Reserve Auctions
Limited Editions
Bonding Curves (aka PRISM)
We have always been in search of that sweet spot between opinionated design and creator flexibility, and ultimately takes away the stress of a drop so creators can focus more on creating what they want to create.
Imagine an NFT drop that combined:
The collective ownership of limited editions
The hype of a bidder coming in clutch in an 1/1 auction
We’re proud to unveil a new type of NFT mechanism that brings reserve auctions and limited editions together.
Anyone whose dropped an NFT can attest to the stress. The pressure of selling out. The challenge of getting collectors to buy in to a piece that dropped multiple days ago.
It’s hard to choose the right supply. And every video is different. What works for one may not work for the other. There’s also a fear that maybe a drop that doesn’t “do well” will discourage other collectors from joining.
Well, what about range editions? There’s still that disappointment that comes from setting a goal and not reaching it, that not just the creator feels but also the collectors.
We think there’s more work to do, so we decided to tackle that problem head on. We came up with a solution that not only removes the pressure of selling out… but also happens to be a lot of fun.
Here’s how it works:
A creator uploads a video and sets a minimum supply and a (hidden) maximum supply.
When the minimum supply is sold, the supply increases by 5 and a timer is set for 1 hour. Collectors have 1 hour to hit that new milestone.
Every time a new milestone is reached, the timer resets and the supply increases. This continues until either the maximum supply is reached or the timer expires.
Let’s look at an example:
A creator drops a video with a minimum supply of 5 and a maximum supply of 50.
As soon as the first 5 are sold, the timer starts counting down from 1 hour and the next milestone is set to 10.
Collectors come together before the timer runs out to get it to the next milestone.
This continues all the way until the video reaches it’s max supply of 50, or the timer expires (say at 33). Either way, the video is SOLD OUT™️.
What we love about this model is the fun it brings to the whole sale - the momentum of hitting milestone after milestone. We’re more than excited to see what the community does with it!
https://glass.xyz/watch/AhSeHAvAuJ7fos2YyydtwyKy1BuBMSgRFABt5FPAxjGP
Check out GLASS CLASS EP 003, where we dive in to milestones further.
If you’re a creator interested in being one of the early pioneers of milestones… shoot us a DM on Twitter or fill out an application. If you’re already a Glass Creator, you can try it out today on your next video!
GlassPRISM — Liquid NFT Markets
TL;DRPrism is the Uniswap for NFTs.Buy and sell NFTs instantly.Always on sale.Algorithmic price discovery.Experience it for yourself 👇https://glass.xyz/v/SVt0Ea518b5fG_FS4fxMZ0Kq8vwlVkdxl1JrVcLXhZw=The way we monetize media NFTs does not scale.At Glass, we’ve taken an experimental approach to monetizing media. We’ve offered our early creators two ways to monetize their work, 1/1 auctions and limited editions, the two most common ways to monetize NFTs today. Neither of these will work in the ...
GlassReintroducing Glass
We love watching videos.Videos are windows into people's worlds. Videos tell stories that inspire us, teach us, entertain us, and help us grow. It doesn't matter who you are, where you're from, or what you do. You can think of at least one video that's changed your life. That's the power that videos have. The power to connect with us to make our lives better. A majority of internet bandwidth is used to watch videos.Sources: Sandvine, CommScope, CartesianVideo ✨should✨...
Glass💎🙌: THE FLASHY EXPERIENCE
Welcome to The Flashy Experience27DELLY drops his debut music video NFT, on auction at a reserve price of 1.27 ETH. https://glass.xyz/embed/WsGWyesQMg6NSZPrILcqXzhrgCZDAD-erfO7_WsrEeE=?display=iframe Flashy is strictly for those with the diamond mindset. The point where your life is pushing towards greatness and you embrace your power fully. It’s a reminder to never falter in your steps and to move with the utmost confidence each time. All said and done to remain humble through it all. That’s...
Video owned by the people, not the platform.
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