For participating in primary market NFT sales, xtingles uses a range of distinct methods. Simply said, these are the several options for purchasing NFTs. We'll go over a number of these options in more detail below.
Open Editions -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.
Limited Editions - Limited edition NFTs are NFTs with a set limit to their edition. For example, we may only release 100 editions of an NFT which will never be released again. Prices for limited edition NFTs tend to be higher as they are rarer and more sought-after.
Reserve Auction: When setting up a Reserve Auction, the artist selects a public reserve price, which, if fulfilled, initiates the timed auction. There is no set start time for Reserve Auctions. Instead, the artwork has a reserve price indicated on it, and it is available for auction starting at that amount. The reserve price must be met with the first offer. The auction is launched when the Reserve Price is met by the first bid, and the timer begins a 24-hour countdown to the end of the auction. Bids placed during an active timed auction are irreversible. A bidder's bid is returned if they are outbid. The auction time is extended by 15 minutes if a bid is placed inside the last 15 minutes of the auction. The auction is won by the highest bidder at the end.