Imaginary Ones will be minting with ERC721 contract on the Ethereum chain.
It will be executed in two phases.
- Date: Wednesday, 27th April
- Time: 2am GMT+0
- Duration: 24 hours
- Price: 0.2 ETH
- Supply: 4200
Public dutch auction (DA)
- Date: Thursday, 28th April
- Time: 3am GMT+0
- Duration: Until collection sells out
- Price: 50% OpenSea (OS) floor price, capped at 1.5 ETH
- DA details: A drop of 0.1 ETH every 15 mins until it reaches 0.2 ETH
- Max Qty: (1) mint per wallet
- Supply: 4488
DA Start Price Scenarios:
- OS floor price is 1 ETH. DA starts at 0.5 ETH (50% of floor price)
- OS floor price is 2 ETH. DA starts at 1 ETH (50% of floor price)
- OS floor price is 5 ETH. DA starts at 1.5 ETH (capped at 1.5 ETH)
- OS floor price is 10 ETH. DA starts at 1.5 ETH (capped at 1.5 ETH)
What is aDutch Auction?
Dutch Auction (DA) is a reverse auction. The price starts at a predetermined price and drops at intervals until everything sells out.
When done right, DA benefits both the minter and the project.
The team researched the pros and cons of DA. We studied past projects and considered holder distribution before making this decision. If you are interested in our study, read more here.
- IO will be minting with ERC-721 smart contract, which has a more extended stability history than ERC721A.
- Public mint will be done with a dutch auction. We are shifting a portion of what people are willing to pay to tip miners back into our project.
- By setting DA price at 50% Opensea floor price, we expect high demand to snap up the supply.
- Setting a maximum cap of 1.5 ETH for the dutch auction allows early supporters to enter the project at a reasonable price.
- The public dutch auction mint allows (1) mint per wallet. We believe bullish supporters in the project will purchase multiple pieces at a fair valuation before buying an additional one during the public mint at a discount.
Collection Allocation (8888 Total Supply)
- 4200 Imaginary Ones - private whitelist sale.
- 4488 Imaginary Ones - public dutch auction sale.
- 100 Imaginary Ones - (20) allocated to each of the 5 founding team members - locked for six months.
- 100 Imaginary Ones - allocated to treasury for future marketing and partnerships.
- Whitelisted wallets that were allocated through giveaways and contests can mint a maximum of (1).
- Members whom purchased a piece of the Cmttat’s Genesis Art can mint a maximum of (2).
- Partners and staff have varying mint amounts. You can mint up to the number that was allocated to you.
- All whitelisted wallets will be able to mint (1) more during the public dutch auction.
- A wallet checker tool will be available nearer to mint date.
Post-Mint ETH Distribution
- 90% Development & Community
- 10% Founders, Partners & Staff
- The royalties on the secondary market are 5% of each sale.
- The collection will be revealed 2 weeks after the public mint ends.
- 2 weeks is a comfortable buffer for the team to vet the entire collection of 8888 thoroughly.
- The team will communicate with active updates should there be an earlier reveal.