Glass Milestones – The new exciting way to drop your video NFTs

Glass Protocol has introduced a new NFT sales mechanism called Milestones, combining the collective ownership of limited editions with the hype of a bidder coming in arms reach of winning a 1/1 auction.

The aim is to reduce the stress and pressure of NFT drops for creators by offering an opinionated design that also provides creator flexibility.

Let’s have a look at how Milestones works, as well as explore a fun hypothetical example!

Announcing a new way to drop: Milestones.

❌ Limited editions: hard to choose the “right” supply

❌ Open editions: no scarcity

❌ Range editions: no momentum

✅ Milestones: scarce, satisfying, and builds hype

Here’s how it works 👇

— GLASS.XYZ (@glassprotocol) February 11, 2023

Milestones – The new exciting way to drop your video NFTs

The Milestones model works by having the creator upload a video and set a minimum supply and a (hidden) maximum supply. When the minimum supply is sold/reached, the supply increases by 5 and a timer is set for 1 hour. Collectors then have 1 hour to hit that new milestone. Every time a new milestone is reached, the timer resets, and the supply increases, and this continues until either the maximum supply is reached or the timer expires. The model is designed to bring fun and momentum to the whole NFT sale process.

Let’s explore how this works in practice through the eyes of fictional NFT creator Bob.

Bob drops his video NFT on Glass using Milestones

Bob is a video creator who is passionate about his craft. He spends hours perfecting his videos, pouring his heart and soul into each frame. However, like many creators, Bob struggles to monetise his work. The platforms he uses, such as YouTube and TikTok, have too much control over his videos, and he barely makes enough to cover all the expenses necessary to sustain his passion.

Bob recently heard about Glass Protocol, a video NFT marketplace built on the Arweave blockchain that puts creators at the centre. Glass is changing the game by giving creators complete ownership of their videos and allowing them to decide how and when to monetise their work. Every video uploaded to Glass is an NFT.

Bob decides to give Glass a try and uploads his first video. He sets a minimum supply of 5 and a hidden maximum supply of 50, and he’s excited to see how it will perform on the platform.

As soon as the first 5 NFTs are sold, Glass’ new Milestones mechanism kicks in. A timer is set for 1 hour, and the next milestone is set at 10. Collectors have one hour to hit that new milestone by purchasing the NFT.

Tick tock, the countdown begins!

Bob is amazed as the first milestone was hit in just 15 minutes. He watches as collectors come together to get the NFT to the next milestone. Every time a new milestone is reached, the timer resets, and the supply increases. This continues until either the maximum supply is reached, or the timer expires.

Bob watches in awe as his NFT hits milestone after milestone, and he can feel the excitement building. He has never experienced anything like this before. The momentum of hitting milestone after milestone is contagious, and he can see the community coming together to support him and his work.

The Milestones mechanism is not only fun, but it also removes the pressure of selling out. Bob doesn’t have to worry about setting a goal and not reaching it, as every sale is a success. And the timer adds an element of urgency, encouraging collectors to buy the NFT before the timer runs out. The mechanism is a win-win for both creators and collectors, creating a sense of excitement and momentum around each NFT drop.

As the NFT hits its maximum supply of 50, Bob is overjoyed. He has sold out his first video NFT on Glass and made more money than he ever could on traditional platforms. Best of all, the Milestones mechanism has brought his community together, and he feels supported in a way he never did on legacy platforms.

Bob now sees Glass as his go-to platform for monetising his video creations. The Milestones mechanism has shown him that there is a new way to sell NFTs that is both fun and effective. He’s excited to see what Glass does next and is looking forward to continuing his NFT journey with the platform.