By default, it costs only our platform fee (0.00069 ETH, or 1 MATIC on Polygon) plus gas to collect an entry as a Writing NFT. We refer to Writing NFTs that are subject to only the platform fee and gas as “free,” since they are not priced by the creator. In addition, Writing NFTs default to an unlimited supply, aka an “open edition." In web2, people engage with posts through “likes”. In web3, we believe “collect” is the new “like”. Collecting a digital asset, like a Writing NFT, provides higher signal and has more weight than “likes.”
As you start your publishing journey in web3, you may want to experiment with free Writing NFTs to focus on building your community of collectors. Free Writing NFTs reduce the friction for collecting, allowing your audience to more easily publicly signal that they enjoyed your entry. You will be able to see your community of collectors in the entry byline and at the bottom of the entry. It hits a bit differently knowing that these people took the time and energy to collect your work and that it will be immutably recorded on-chain.
Over time, as you build your community of collectors, you may want to experiment with different settings for pricing and supply. For most entries, we think that it makes sense to set a relatively low price (less than 0.01 ETH). This makes your Writing NFTs more accessible. For your most precious entries, you may want to experiment with a higher price and very limited supply. This approach works well if you have a small group of superfans that are willing to pay extra for a limited edition Writing NFT.
Another consideration is that creators that don't price their Writing NFTs get a share of the platform fees from minting them.
Our hope is that users are able to experiment their way to a model that works best for them. Because of this, Mirror’s tools are flexible enough to support a range of different prices and supply.
For a deeper dive into the philosophy behind Writing NFTs and why we believe collecting is such an important behavior, check out our announcement post.