The wait is finally over! If you are on the 3Landers allow list, today is the big day! In case you missed it, you will be able to mint the highly anticipated 3Landers NFT at 0.15 ETH today (19th February 2022). However, fret not if you’re not on the allow list. The team has decided to implement a public Dutch auction on the 20th February 2022, in an attempt towards having the fairest possible launch.
Building up to this moment, the team has always focused on producing premium art and being a community-first project. This 10k collection stressed that they have refrained from all black hat marketing efforts and remained 100% organic to this point. Indeed, an impressive feat that is pretty rare in the NFT space today.
Public Dutch Auction
A Dutch auction is basically a type of auction in which the price of an item is lowered until it gets a bid. The first bid will be the winning bid and the bidder can walk away with the asset at the said price, assuming that the bid is above the reserve price. This is different from conventional auctions where participants compete by raising the bidding prices.
The 3Landers team will start the auction at 0.75 ETH, and lower it by 0.1 ETH every 20 minutes. The price will continue to drop until it reaches 0.15 ETH, where it will bottom out. This is essentially the same price given to the allow list members. This method is in line with the team’s ongoing efforts to establish a transparent environment with fair pricing. Of course, the price also takes into account the team‘s future development plans in the 3Land world.
With that being said, don’t contemplate too long as the auction is just around the corner.