Managing Collection Supply

Setting your collection max supply is easy to do within Props Gratis.

Open Edition To offer your Mint as an Open Edition with no max, simply set the Max Supply to 1.000.000.

Configured Max Supply

Props Gratis makes it easy to set your max supply by entering the max number of tokens available for any claim. Once the claim is published, this supply should not be changed.

Common Best Practices:

Setting a maximum supply for an NFT collection is an important decision that can impact the scarcity and value of your NFTs. Here are some best practices to consider when determining the max supply for your NFT collection:

1. Scarcity and Rarity:

   • Consider the level of scarcity you want to create. A lower max supply will make the NFTs rarer and potentially more valuable.

2. Artistic or Utility Value:

   • Determine the primary value proposition of your NFTs. Are they primarily artistic or do they offer some utility? This can affect the max supply.

3. Community Feedback:

   • Engage with your community and potential collectors. Gather feedback on the max supply to ensure it aligns with their expectations and desires.

4. Market Research:

   • Study similar NFT projects and their max supplies to see what has worked in the past. This can help inform your decision.

5. Limited Editions:

   • Consider creating limited edition NFTs within your collection, which have an even lower max supply. This can drive exclusivity and demand.

6. Future Expansion:

   • Plan for future expansions or releases. You might want to keep some NFTs in reserve for special occasions or collaborations.

7. Fractional Ownership:

   • Explore the possibility of fractionalizing NFT ownership, which can allow you to divide ownership of a single NFT among multiple people while maintaining a low max supply.

8. Minting Tiers:

   • You can set different max supplies for different tiers or types of NFTs within your collection. For example, common, rare, and legendary NFTs can have distinct max supplies.

9. Burn Mechanism:

   • Implement a burn mechanism where NFTs can be destroyed or removed from the supply permanently. This can create artificial scarcity and increase the value of remaining NFTs.

10. Adaptive Supply Control:

    • Consider mechanisms to adjust the max supply based on demand and other factors. Dynamic supply control can help maintain scarcity in response to market conditions.

11. Legal and Regulatory Considerations:

    • Ensure that your NFT collection adheres to any legal or regulatory requirements related to the maximum supply, ownership, and distribution.

12. Transparent Communication:

    • Clearly communicate the max supply to your community and potential collectors. Transparency is key to building trust.

13. Smart Contracts:

    • Ensure that your smart contract enforces the max supply rules to prevent accidental or intentional over-minting.

14. Reserve NFTs:

    • Keep a portion of the NFTs in reserve for future promotions, giveaways, or collaborations.

15. Experiment and Iterate:

    • Be open to adjusting the max supply based on feedback and market dynamics. It's not set in stone, and you can experiment with different approaches.

Ultimately, the max supply for your NFT collection should align with your project's goals, your target audience, and the uniqueness of your NFTs. Consider the long-term implications of your decision, as it can significantly impact the value and desirability of your NFTs in the market.