🧊Freeze Secondary Sales
This setting allows your random drop to freeze secondary sales for a limited time.
Last updated
This setting allows your random drop to freeze secondary sales for a limited time.
Last updated
You can Freeze any transfers or sales of the NFT in your Collection for a while during the Mint. The freeze will last until the Collection is sold out or the freeze period is over, whichever comes first. This is useful if you want to ensure that the NFTs are not sold on the secondary during the minting of the Collection. You'll need to provide the following details:
Freeze Duration (In either Hours or Days, with a maximum of 30 Days)
The Freeze duration will start from when the NFT is minted (excluding any pre-minted NFTs), so if you have a 24-hour freeze and the first Mint is at 12 pm, the freeze will end at 12 pm the next day.
A normal drop will permit a user to do anything with their NFT after minting. This could include trading or listing on a marketplace. Freezing secondary sales, will prevent a user from being able to transfer or list their NFT on a marketplace providing that any of the conditions are not true:
The Random Mint has not minted out.
The elapsed time set by the creator has not expired
The Random Mint was not closed.
Creators like to freeze secondary sales, as it prevents collectors from flooring their collection on a marketplace and creating a price movement during the mint.
To add the freeze secondary sales option while setting up a Random Mint, go to the "Settings" step and click advanced, and click the "Freeze Secondary Sales" toggle. Next select your Freeze Duration for how long you would like to freeze the tokens provided that the supply is not sold out.
Leveraging this feature will cause mint proceeds to be held in escrow until all minted NFTs are thawed.
Unfreezing can only happen if one of the following conditions is met:
The drop is fully sold out
The drop has been closed
The allotted time for freezing has expired, since the first mint (not including pre-mints).
Freezing also does not apply for any tokens that have been pre-minted.
Within the Drops tab, select a drop from the table, click the ellipsis, and select "Thaw NFTs". This will begin the fetching process, which make take 5-10 minutes depending on the collection size.
The on-screen prompt will then provide a "Thaw NFTs" button which will trigger a transaction to pay for the unfreezing.
Upon approving the transaction, you will be shown a progress window with the number of NFT's that have been thawed / total number of NFTs found.
Once the "Thaw NFTs" process is complete the Freeze is removed from the drop and any newly minted NFTs will not be frozen.
