Price is right minter

[asaltste]

It would be amazing to have a price is right esque minter where the mint price is unknown and people will submit bids. Then the closest x people without going over get to mint. Would love feedback about this but it seems like a really cool idea.

cc @jakerockland and @ryley-o for feasibility about this idea :)

[ryley-o]

Definitely feasible.

Would shift our typical model and require more trusting of the artist because the artist would be the only party who knows the purchase price during the bid-period. For example, if some bids were very low, the artist could submit enough of their own bids to essentially create an artificially high floor-price. This is still probably acceptable behavior for this type of minter.

I think would look something like:

• Artist commit to some hidden price via sending tx with hash of their address, price, and a salt.
• commit tx is followed by an on-chain bid-period
  • users must send their funds to the minter contract along with their bids (prevent bid-spamming)
• bid-period is followed by a reveal tx submitted by the artist, revealing the previously hidden price
• after reveal, losers can reclaim the funds submitted with their losing bids, and winners can purchase their token(s) at each winning bid price.

The minter would have to hold funds, so would require a thorough audit.
Would also have to have an escape-hatch in the event that the artist never submits their reveal tx (in the case of lost wallet keys, malicious artist, etc.)