I am, of course, more grid than cul-de-sac, but here is an interesting NFT art project that is launching on December 12, 2023 at 1PM EST. It's called Cul-de-Sacs:

“Cul-de-Sacs” explores the banality of suburban sprawl through the anachronistic stylization of American folk art. The algorithm generates flattened representations of suburbia at range of scales, interspersed with the remnants of rural life.

The starting price is 0.2 ETH and the resting price is 0.05 ETH. What this ultimately means is that these NFTs are being offered by way of a Dutch action.

Dutch auctions are a price discovery mechanism. They start with a high asking price and then gradually lower it until a price is reached where the quantity demanded equals all of the available supply.

In other words, it's a way to determine what the market thinks a particular thing is worth. In this case, though, the resting price is 0.05 ETH. Meaning there's a floor.

If lots of people are willing to pay 0.2 ETH for this art, it could sell out right away and that will prove to be the market price.

But if few people want to buy it, then the price will gradually fall to 0.05 ETH, and that is where it will hang out until all of the available supply is absorbed. If/when that happens.

Another important feature of this auction process is that if you buy early, and the price subsequently drops, you get a refund equal to the difference between what you paid and the final achieved price (thought to be the market price).

So there is zero incentive to wait for a possible price decline; everyone ends up paying the same price no matter what. You're encouraged to bid aggressively.

And because all of this is now happening on a blockchain and enshrined in code, you can be confident that this is exactly how the process will work and that you'll get any refunds that you deserve.

I am, of course, more grid than cul-de-sac, but here is an interesting NFT art project that is launching on December 12, 2023 at 1PM EST. It's called Cul-de-Sacs:

“Cul-de-Sacs” explores the banality of suburban sprawl through the anachronistic stylization of American folk art. The algorithm generates flattened representations of suburbia at range of scales, interspersed with the remnants of rural life.

The starting price is 0.2 ETH and the resting price is 0.05 ETH. What this ultimately means is that these NFTs are being offered by way of a Dutch action.

Dutch auctions are a price discovery mechanism. They start with a high asking price and then gradually lower it until a price is reached where the quantity demanded equals all of the available supply.

In other words, it's a way to determine what the market thinks a particular thing is worth. In this case, though, the resting price is 0.05 ETH. Meaning there's a floor.

If lots of people are willing to pay 0.2 ETH for this art, it could sell out right away and that will prove to be the market price.

But if few people want to buy it, then the price will gradually fall to 0.05 ETH, and that is where it will hang out until all of the available supply is absorbed. If/when that happens.

Another important feature of this auction process is that if you buy early, and the price subsequently drops, you get a refund equal to the difference between what you paid and the final achieved price (thought to be the market price).

So there is zero incentive to wait for a possible price decline; everyone ends up paying the same price no matter what. You're encouraged to bid aggressively.

And because all of this is now happening on a blockchain and enshrined in code, you can be confident that this is exactly how the process will work and that you'll get any refunds that you deserve.