What is meant by Open-edition Auction?

In the world of NFT art, an open edition is an NFT for which any number of editions can be minted. This contrasts with a limited edition NFT: one that is limited to a predefined number of editions.

CONTEXT

Open editions are generally seen as less rare or prestigious than limited editions, since they are structured to satisfy demand for the piece in the primary market. Edition limits, by contrast, imply that fewer editions will be produced than there is demand for - ensuring that prices for the piece stay high due to competition for ownership.

However, open editions can still become quite valuable in circumstances such as the following:

• The artist gains popularity after the open edition release, creating stronger demand for their earlier works.

• If only a few open editions are minted, those pieces become rare by definition.

• The artist adds value to the NFT, such as by airdropping perks to holders, or making them eligible for other exclusive rewards and amenities.

At xtingles, buyers only have a small window of time in which an open edition piece is available to buy. There will be as many pieces minted as are bought in that window of time. Once the window closes, no more editions of that NFT will be minted.

Open editions may or may not have an edition number, and may or may not advertise the total number of editions created.