NFT Glossary Deep Dive: Open Edition

NFT Glossary Deep Dive: Open Edition

Ellen Britt for CNT #NFT

One of the things about many NFT collections that adds to their value is that they are limited in terms of the number that can be minted. But sometimes NFTs may be marked as an Open Edition, where the creator of the NFT does not limit the quantity. 

At first glance, you would think this would bring automatically bring down the value of the NFT, but many NFT creators who choose to go with an Open Edition model will place other restrictions on the NFT. For example, a particular NFT collection may have a limited time window in which the NFT can be minted. 

While this will automatically restrict the number of NFTs that are eventually minted, the final number will only be known at the close of the minting window. With a truly Open Edition without any time limit, the number of NFTs minted will be determined solely by market demand. If the NFT creator/artist is relatively unknown, the edition may remain small. 

Even though Open Editions are generally seen as less prestigious than having a closed edition, they may still increase in value if the name of the artist/creator becomes more widely known.

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By Ellen Britt

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