If you are an NFT creator, one question you will encounter is ‘how many NFTs should I create? The answer can be anything from 1 to 1 million+. Here’s a quick guide to the different common collection sizes.
1 of 1
A 1 of 1 NFT is a single artwork or creation that is not part of a series and has only one version. These are completely unique pieces with the highest possible scarcity. As an artist you will likely spend a significant amount of time creating such a work. As a collector you should expect 1 of 1s to be more expensive than NFTs in a series or collection.
1 of many
1 of (insert number) NFTs are multiple versions of the same NFT. Think of them like prints of an artist’s work in the physical world. Each version will have a unique identifier, e.g. 1 of n, 2 of n, etc., but essentially these works are identical. Strictly speaking, these are semi-fungible tokens.
Many of the NFTS you will see on the market today are part of 10k collections. This trend was started by the CryptoPunks collection released by Larva Labs. 10k collections are generative collections. Each NFT is randomly generated from a set of attributes, created by artists/designers and then run through a generative algorithm. The algorithm spits out unique NFTs and the value of these NFTs is derived both from their uniqueness and their membership of the collection. Generative collections of this kind do not strictly need to have ten thousand pieces, some are in in the hundreds, e.g. the Mona Lanas by Lana Denina is a 500 piece collection and the randomly common skelles by John Karel are a 36,000 piece collection.
There are some very large NFT collections, comprising of above 100k pieces. Typically these collections are gaming NFTs. Examples include Gods Unchained (c. 7 million NFTs), CryptoKitties (c. 2 million NFTs), Axie Infinity (c. 283.8k NFTs) and Zed Run (142.3k NFTs).