A one-of-a-kind non-fungible creation. Digital art with one edition can only be owned by one person at a given time, making these NFTs quite attractive to collectors. These creations generally command the highest sale price.
A rare digital creation. Digital art with ten editions may be sold and owned by up to ten collectors at any given time. Though rare, each edition generally commands a slightly lower sale price than a 1/1.
A limited digital creation. Although still limited, because it can be owned by many collectors, collectors will expect the price of each edition to be much lower.
No predetermined number of creations. NFT collectors are given a time window during which they can mint. When the window closes, the edition size is capped. Artists may create approximate caps, limit the number of mints per wallet, or enable other tactics to keep edition sizes low.
Because the edition size is unknown, open editions don’t receive as much speculative attention, making it a relatively low-priced haven for fans and collectors who aren’t interested in flipping their holdings.
NOTE: Because of their unique mechanics, open edition NFTs are not minted at the moment of purchase. If you purchase an open edition, you can generally expect it to land in your wallet within 24-48 hours.
Original mints are primary market purchases. An NFT that is still owned by the original creator of the artwork.
Secondary NFT market
After an NFT is minted, it can be sold or purchased on the secondary market.