Mercedes-Benz NXT pfp
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 pfp
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 pfp
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 pfp
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 pfp
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 pfp
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 pfp
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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Mercedes-Benz NXT pfp
Mercedes-Benz NXT
@mercedesbenznxt
8/ The second option is a fairly new mechanic included in the Dutch auction smart contract developed in this collaboration. It allows collectors to mint more artworks with their already committed eth while the Dutch auction is active, instead of claiming the rebate.
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Mercedes-Benz NXT pfp
Mercedes-Benz NXT
@mercedesbenznxt
9/ This smart contract will be released under an open-source license. We look forward to seeing this mechanism adopted in more Dutch auctions soon! https://twitter.com/FingerprintsDAO/status/1665388000199491585
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Mercedes-Benz NXT pfp
Mercedes-Benz NXT
@mercedesbenznxt
10/ In total, "Maschine" will have 1,000 unique artworks. Three tokens will be kept by Fingerprints DAO, six will be used for community activation, and ten will be hand-configured by Harm van den Dorpel and Gorden Wagener at a later point. That leaves 981 tokens for the auction.
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Mercedes-Benz NXT pfp
Mercedes-Benz NXT
@mercedesbenznxt
11/ Check out the official website for the mint – https://maschine.fingerprintsdao.xyz – and follow @harmvandendorpel, @fingerprints and us to get notified once minting is live. You can also use this link to add an entry to your calendar: https://calendar.fingerprintsdao.xyz/maschine
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