Participation NFTs can provide an extra, fun incentive for bidders in your auction. Much like standard open edition sales, creating a participation NFT will allow unlimited copies of a single master edition NFT to be sold at a fixed price. For more information about open-edition copies, read this article. However, these copies will only be sold to people who bid in your auction.
To create a participation NFT in an auction:
- Follow the steps listed in this guide to set up an auction until you reach the participation NFT section.
- Select the master edition NFT that you would like to use as a participation NFT/make copies of.
- Set a fixed price for your auction’s participation NFT. This is optional; you can choose to set the price to 0 so that every bidder will receive a participation NFT, or you can provide a price for bidders that do not win your auction to pay to receive a copy of your participation NFT.
That’s it! You can check more articles in the help center and view video tutorials for help.