NFT Whitelist: 9 ways to hunt it early
NFT Whitelists are the equivalent of golden tickets in the world of NFT, giving you access to early and discounted NFT purchases. If you work in the NFT industry, you probably know about selling NFTs for astronomical profits. When you acquire cheap and sell expensive, you can usually do this.
Numerous initiatives are entering the mainstream as the NFT market continues to expand. A lot of buyers who are interested in making a quick profit are drawn to good utility projects. As a result, there is a good probability that an NFT will be in the hands of too many people before you.
If you are whitelisted, you will have the opportunity to collect NFT before the project is released to the general public. So, to put it simply, a slot reserved for someone is an NFT whitelist. However, there are typically only a few people who can access the whitelist.
This article offers 9 simple ways for getting added to NFT whitelists. I will first go through the fundamentals of NFT whitelisting.
What is an NFT Whitelist?
An NFT Whitelist is a database of people who are guaranteed early access to mint NFTs at a certain date and time. Being on such a list helps buyers avoid exorbitant secondary prices and hefty transaction fees for popular NFTs. In every project, some people remain loyal and engaged with the project. Usually, these people deserve a head start over others. NFT whitelist is simply a reserved spot for a few people to mint an NFT before the public sale.
Your digital wallet address will be eligible to mint an NFT before anyone else thanks to an NFT whitelist. Being added to a whitelist might be quite valuable. And the reason for this is that NFTs employ supply and demand economics. An NFT project can quickly sell out if there is significant interest in it. You save the hassle of trying to obtain an NFT by getting whitelisted.
The list of individuals who are assured early access to mint NFT on a given day and during a specific window of time is referred to as a whitelist in the NFT ecosystem.
Benefits of getting on an NFT whitelist
There a numerous benefits you can get from getting on the whitelist for NFT. Some of the benefits include the following:
You have guaranteed access to mint
The opportunity to mint an NFT in front of the public is the main advantage of being whitelisted on an NFT project, as it was before said. Scarcity is one of the main issues people run into while trying to mint NFT. It should be noted that scarcity differs from NFT rarity.
All of the NFTs in a project, especially one that is receiving a lot of interest, have a propensity to sell out before you have the slightest opportunity to purchase. Getting whitelisted, however, solves this issue.
You can get an NFT for an early mover price or even for free
Getting an NFT for an early bird price is great for people who are just starting up in the NFT space, but don’t want to risk their hard-earned money. It’s interesting that pros can also benefit from it in addition to beginners. A low buy typically translates into a bigger profit margin when you sell your NFT.
You avoid gas wars thanks to NFT Whitelist
The likelihood of a gas war is often high with an intriguing NFT project. Since the fee paid for transactions in the NFT realm is the gas fee.
People have a predisposition to pay higher gas prices since the amount of gas you are ready to spend affects how quickly your transactions will be completed. And because there is so much rivalry for consumers’s money, they frequently pay higher petrol prices than usual.
Increased willingness to pay results in absurdly high transaction fees that can cost several thousand dollars as well as gas fee wars on NFT projects. However, being whitelisted guarantees that you won’t face gas price wars.
This is possible because when you are added to an NFT project whitelist you can choose a specific time to mint your NFT within the window provided. This also ensures that transactions are spaced out. Thus leading to less competition, less traffic on the network, and ultimately low gas fees. This ensures that you end up losing tons of cash if the NFT project ends up unprofitable.
How to get on the whitelist for NFT
1. Join the project group on Discord
The next step of getting on an NFT whitelist is to join the discord group after finding a compelling project.
The NFT project’s discord group is where the majority of project activity occurs such as significant news, freebies, an introduction to the founding team, a project roadmap, and guidelines for joining the whitelist.
You must follow a few instructions in the discord channel to demonstrate that you are a human and not a robot. Fascinatingly, how-to-whitelist links are frequently included in Discord conversations. On their Twitter bio, they provide a link to a Discord group for the NFT project.
2. Invite people
By inviting others, you can also get on an NFT whitelist. One criteria many NFT initiatives use to whitelist users is inviting them to an NFT discord channel.
NFT ventures value it when sponsors attract additional potential customers. A curious feature of the project is that each member has a different invitation code that can be shared with friends and on other discord servers. You can invite individuals to the NFT project that you are attempting to promote using this special code.
3. Complete the eligibility procedure
Each NFT project has its unique set of requirements to qualify for the NFT whitelist. Hence, you must ensure that you meet their requirements. To get whitelist you have to be eligible.
Once eligible for whitelisting you may be required to provide your crypto wallet address to get pre-approved for minting. You are to then choose a suitable time to mint from the options you are provided with.
4. Stay engaged
NFT projects frequently grant whitelist membership to contributors who add value to the project and who actually care about it. To get the founding team’s attention, you must put in your best effort. They are not given to everyone, therefore you have to earn your place.
You must actively participate in the discord chat and make a significant contribution to discussions regarding the project if you want to be noticed. You should also talk to people in the neighborhood. This is possible by tweeting about the project, sharing tweets from the project handles, and discussing the project with other Twitter users. Additionally, promote the initiative on all of your social media channels.
5. Get in early
It is important to find a good project early before everyone else does. What is equally important is getting on board the project early. Getting early creates an initial demand for whitelisting.
This is because most NFT projects easily give away NFT whitelist spots to early supporters. The key is identifying a viable project and becoming the first few early members of the discord channel.
Getting on an NFT project whitelist is a bit of work but it is not undoable. And only require a few days of effort from you. When you eventually get whitelisted you will realize that it was worth the task because you could easily flip your NFT for a high-profit margin.
6. Take part in giveaways
On their social media accounts and in their Discord channels, the majority of NFT initiatives run giveaways. They request likes and shares from their followers in this place. It’s interesting to note that liking and sharing these messages can get you added to the NFT whitelist. You should, however, take part in as many giveaways as you can.
7. Participate in contests
Most NFT projects usually come up with contests for users and winning the contest could guarantee a spot on the whitelist. Such contests are usually open to the general public.
You should participate in as many of such contests as possible if you desire a spot on the whitelist.
8. Make a fan art
To express your support for the project, you might draw inspiration from it and produce fan art. By doing so, you promote the project for free and increase your chances of receiving credit. Additionally, assist in adding you to the NFT project’s whitelist.
9. Hold NFT from previous collections
Most NFT projects or blue-chip NFT collections act as a Launchpad. They collaborate with recent or popular NFT collections. Therefore, NFT collectors must own the specific NFT that is serving as a Launchpad for the new or hyped NFT in order to be whitelisted.
Getting on an NFT whitelist may be a herculean task in the beginning because of the shift you may have to put in. However, it will always turn out to be a worthy task in the end if you get whitelisted.
Again, in all you do, avoid the NFT whitelist scam. Put in the shift you have to put in, get in on the whitelist and enjoy the benefits that come with it.
If you have any questions, comments, suggestions, or ideas about the project, please email [email protected].
DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.