A lot of terminology comes from traditional arts industry that existed for many decades.
1/1 refers to an artwork that is minted as a unique NFT. These are sometimes created on their own, and sometimes in a Series — a topical collection of unique artworks.
Most collectors and artists agree that minting a 1/1 mean that an artist will never create another 1/1 on the same or different blockchain, and will not create an edition of the same 1/1. Therefore 1/1's generally hold their value.
“Editions” refers to a collection of NFTs that represent the same artwork (e.g., https://sloika.xyz/pamvoth.eth/million-dollar-bluebird).
Editions can be numbered or unnumbered. Generally in traditional art world, editions are numbered and there is a finite number of them (e.g. edition 3/50)
We support 1/1 series and editions on Sloika. We currently don’t support standalone 1/1 works.
We see 1/1 series as an opportunity to offer collectors a sophisticated body of works to choose from — and to let them express their artistic taste as curators. However, because all works are unique, the prices tend to be higher and finding collectors for all pieces may be more challenging.
Editions, on the other hand, are made to be easy to collect. Since there’s only one artwork, there’s no need to pick and choose! Additionally, the prices for editions tend to be lower, meaning more collectors can participate in your drop.