What are the different types of sales on Bitski?

There are a few different types of sales on Bitski you can use! 🧐 💸

 

Limited Editions (aka fixed price listings)

1. Description: Limited editions are based off of a fixed quantity of available NFTs. The sale will run for an infinite amount of time until all quantities are sold out (i.e. 20 editions only)

2. Suggested Pricing: Generally limited editions should not be priced too high. While there is scarcity due to the limited quantity, these NFTs are not one-of-ones. We recommend testing out lower pricing before moving forward with higher-tier pricing for future sales, as it's better to sell-out than not.

 

Auctions

1. Description: an Auction sale is for 1 of 1 NFTs. A time limit is set, and the winner of the NFT goes to the highest bidder.

2. Additional Details:

   • Sniper Safe: There is a 5 minute extension on bids if they're made within the last 15 minutes.
   • This means there is no winning bidder unless no one bids against them for the last 5 minutes. If they do, the timer adds an additional 5 minutes. This helps to safe guard against last minute snipers who try to place a small incremental bid right before the timer runs out.

• Minimum Bids: We added another layer to make any live auction even more sniper safe. Check out the chart below for more details!

Starting Bid	Minimum Bid Increments
$100	$5
$101 - $250	$10
$251 - $500	$25
$501 - $1000	$50
$1001 - $10k	$100
$10k +	$250

• Suggested Pricing: Since auctions offer NFTs that are the most rare, this tier usually merits the highest level of pricing relative to your customers price range!

Open Editions