Mercedes-Benz NXT
@mercedesbenznxt
1/ “Maschine” by @harmvandendorpel, created in collaboration with @fingerprints DAO and us, can be minted via a Dutch auction on Wednesday, June 7, starting at 18:00 CET / 12:00 ET / 09:00 PT. Find out how to participate in this thread. 🧵
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Mercedes-Benz NXT
@mercedesbenznxt
2/ A brief summary: For “Maschine”, Harm chose motion, velocity, and perception as core themes. Each unique artwork depicts a mesmerizing radial pattern of complex and constantly changing illusions that occur when certain objects spin and accelerate. https://warpcast.com/mercedesbenznxt/0xe6bd28
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Mercedes-Benz NXT
@mercedesbenznxt
3/ We have already shared two live demos yesterday. Explore another one here: https://maschine.2.harmvandendorpel.com/artwork/index.html?demo3 https://warpcast.com/mercedesbenznxt/0x5f99c5
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Mercedes-Benz NXT
@mercedesbenznxt
4/ The mint will be done via a rebate Dutch auction. In contrast to a traditional auction, where the price increases until the highest bidder wins, a Dutch auction begins with a high starting price that decreases until supply is exhausted or a resting price is reached.
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Mercedes-Benz NXT
@mercedesbenznxt
5/ We have chosen this auction method as it is widely considered the fairest and most democratic process of price discovery – the final price is decided collectively by all potential buyers.
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Mercedes-Benz NXT
@mercedesbenznxt
6/ The Dutch auction will take place on a dedicated @fingerprints DAO mint website. The price will decrease linearly over a 90-minute period, from the starting price of 3 eth to the resting price of 0.2 eth – or until sold out.
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Mercedes-Benz NXT
@mercedesbenznxt
7/ As the price decreases, participants buy when the price becomes acceptable to them. In a rebate Dutch auction, bidders can claim the difference between what they paid and the last selling price (which is equal for all sold artworks), or they will be able to mint more artworks.
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