Primary Market - Minting
Minting
When a piece of generative art is purchased for the first time, it triggers the code and a unique piece of art is generated. This process is referred to as minting and the art is added to the blockchain. It is 'minted'.
A collection can be as big or small as an artist wants. A common size on fxhash at the moment is between 126 and 500 pieces. There are some much lower and some much higher. These quantities all play a role in how unique a piece will look and how likely a very rare feature will be created. Artists spend a lot of time balancing size with output.
Once a piece is minted, it is on the blockchain. If it is offered for sale, then it is placed upon the secondary market.
Batch Minting
You cannot batch mint. It has been tried in the past and it simply makes duplicates of the work, which get flagged.
Minting sites
The following sites are the main places to mint fxhash generative art, with details about the process in their section of this guide:
Minting schedule
Fxhash is open 24/7, 365, with one exception; releasing a new collection for minting. The schedule refers to this exception.
As part of the beta period, the minting schedule underwent different timings to see what worked best. As of Mon, 18 Apr 22, the fxhash minting schedule is:
open 8hrs, then closed for 14hrs. This means each day it opens two hours earlier than the previous day.
It is important to understand that an artist can only release a new collection on the platform within the open window period. Once that collection starts though, it can continue after the window closes (this was not the case early in the beta).
A minting schedule is found under ‘community’ and defaults to your local time zone.
If you see a mint time published on social media and need to convert it, the best tool I have found is everytimezone.com. You simply slide the bar along to the time (and timezone) stated, and it will show your time, plus everyone else’s time, on one page. The image below lines up with a 06:00UTC mint time. For me, it shows that it would be 5pm/17:00.
Popularity
Some mints are very popular and can sell out (mint out) in less than a minute. In these circumstances, using the fxhash website can be too slow. In these cases, using the fastest tool/s is paramount.
If the market believes the mint price is lower than what the secondary-market price will be, a mint can be very competitive and exhilarating. Warning - these aren’t always the feelings you have if you miss out!
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