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For my crypto and NFT newbies
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For my crypto and NFT newbies
HOW TO GRIND FOR NFT WHITELIST.
Whitelists are the golden ticket to buying NFTs for cheap. Here’s how get on one.
You may have heard of people flipping NFTs for huge profits. The key to maximizing your flip is to buy low and sell high.
In the NFT space, one of the best ways to buy cheap is to purchase (AKA “mint”) the NFT as soon as it is released (AKA “dropped”) on the project’s website to avoid price hikes after it reaches secondary marketplaces.
However, when you try to mint, two problems can arise:
Problem #1: All the NFTs in the project can get sold out before you get a chance to buy
The NFT space is constantly growing, and good projects attract a lot of interested buyers who rush to mint as soon as the project drops. There is a high chance that someone else will get their hands on an NFT before you do.
Problem #2: You may experience the wrath of gas wars
A “gas fee” is basically a transaction fee in the NFT space. The catch is that the more gas you’re willing to pay, the faster your transaction will be confirmed. With so much competition to mint, a lot of people increase the amount they’re willing to pay for gas. This leads to “gas wars” resulting in ridiculously high transaction fees going for thousands of dollars.
To solve these issues, NFT projects have introduced whitelists.
A whitelist in the NFT world is a list of people who get early and guaranteed access to mint at a specific date and window of time.
So, how exactly are you benefiting from being whitelisted?
1. You get guaranteed access to mint
This eliminates problem #1
2. You can get an NFT for an ‘early bird’ price or even for free
This is especially great for people who are new to the space and want to give it a go, but don’t want to risk their hard-earned money. This is also beneficial for NFT pros. A low buy means a higher profit margin when flipping. Who doesn’t want that?
3. You avoid gas wars
When you are added to the whitelist, you can choose a specific time you’d like to mint your NFT within the window provided. This allows the transactions to be spaced out, which means less competition, less traffic on the network, and low gas fees, eliminating problem #2.
For example, The Prime Ape Planet NFT project launched at a mint price of 0.25 ETH excluding gas fees and jumped to a floor price of 2.3 ETH on the secondary market within 48 hours of launch. So, a person who got hold of an NFT from that project at mint almost 10xed their investment within 2 days!
Given the benefits, whitelists are like a golden ticket in the NFT world. They are wildly sought after and sometimes difficult to get on because of the competition.
Here are the basic steps to get your name on the coveted list:
1. Find a good project early
A whitelist only works if the project has not been launched. You must find a good project before its drop and before it accumulates a mass following. You can use Rarity.tools to find upcoming projects or follow NFT experts and influencers on YouTube and Twitter to stay on top of the game.
2. Join the project’s Discord group
Discord is where most of an NFT project’s activity takes place ie. introduction to the founding team, major announcements, giveaways, project’s roadmap, instructions to getting on the whitelist, etc. Links to the Discord group can usually be found on a project’s Twitter bio.
3. Follow the eligibility requirements
Each project has its own set of unique requirements to qualify for a whitelist. All you have to do is make sure you meet their criteria.
Once you are eligible, you will provide your crypto wallet address to get pre-approved for minting. You will then select a time of your choice to mint from the options they provide. Just remember to mark your calendar for the time and date you selected so you don’t forget!
Never forget or give out the seed phrase/password to your crypto wallet. HOW TO GRIND FOR NFT WHITELIST.
Whitelists are the golden ticket to buying NFTs for cheap. Here’s how get on one.
You may have heard of people flipping NFTs for huge profits. The key to maximizing your flip is to buy low and sell high.
In the NFT space, one of the best ways to buy cheap is to purchase (AKA “mint”) the NFT as soon as it is released (AKA “dropped”) on the project’s website to avoid price hikes after it reaches secondary marketplaces.
However, when you try to mint, two problems can arise:
Problem #1: All the NFTs in the project can get sold out before you get a chance to buy
The NFT space is constantly growing, and good projects attract a lot of interested buyers who rush to mint as soon as the project drops. There is a high chance that someone else will get their hands on an NFT before you do.
Problem #2: You may experience the wrath of gas wars
A “gas fee” is basically a transaction fee in the NFT space. The catch is that the more gas you’re willing to pay, the faster your transaction will be confirmed. With so much competition to mint, a lot of people increase the amount they’re willing to pay for gas. This leads to “gas wars” resulting in ridiculously high transaction fees going for thousands of dollars.
To solve these issues, NFT projects have introduced whitelists.
A whitelist in the NFT world is a list of people who get early and guaranteed access to mint at a specific date and window of time.
So, how exactly are you benefiting from being whitelisted?
1. You get guaranteed access to mint
This eliminates problem #1
2. You can get an NFT for an ‘early bird’ price or even for free
This is especially great for people who are new to the space and want to give it a go, but don’t want to risk their hard-earned money. This is also beneficial for NFT pros. A low buy means a higher profit margin when flipping. Who doesn’t want that?
3. You avoid gas wars
When you are added to the whitelist, you can choose a specific time you’d like to mint your NFT within the window provided. This allows the transactions to be spaced out, which means less competition, less traffic on the network, and low gas fees, eliminating problem #2.
For example, The Prime Ape Planet NFT project launched at a mint price of 0.25 ETH excluding gas fees and jumped to a floor price of 2.3 ETH on the secondary market within 48 hours of launch. So, a person who got hold of an NFT from that project at mint almost 10xed their investment within 2 days!
Given the benefits, whitelists are like a golden ticket in the NFT world. They are wildly sought after and sometimes difficult to get on because of the competition.
Here are the basic steps to get your name on the coveted list:
1. Find a good project early
A whitelist only works if the project has not been launched. You must find a good project before its drop and before it accumulates a mass following. You can use Rarity.tools to find upcoming projects or follow NFT experts and influencers on YouTube and Twitter to stay on top of the game.
2. Join the project’s Discord group
Discord is where most of an NFT project’s activity takes place ie. introduction to the founding team, major announcements, giveaways, project’s roadmap, instructions to getting on the whitelist, etc. Links to the Discord group can usually be found on a project’s Twitter bio.
3. Follow the eligibility requirements
Each project has its own set of unique requirements to qualify for a whitelist. All you have to do is make sure you meet their criteria.
Once you are eligible, you will provide your crypto wallet address to get pre-approved for minting. You will then select a time of your choice to mint from the options they provide. Just remember to mark your calendar for the time and date you selected so you don’t forget!
Never forget or give out the seed phrase/password to your crypto wallet.
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30 Replies
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193
Points
I know this info is a bit lengthy. But knowledge like this are important if you’re new to crypto and NFT(Non Fungible Token)
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164
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Yea sure
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65239
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Guy you don come to worry us here oh .. thanks for this updates
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193
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you’re welcome
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193
Points
The sooner we start the better, crypto has become a norm and will be way of life for everyone and the coming generation
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8641
Points
Very solid
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8641
Points
I would love to learn it
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193
Points
Or yet again, I’d drop a link to join a free crypto/NFT class
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193
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there we’d be taught the basis, crypto glossary, crypto & NFT terminologies, how to create NFTs, and so much more
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164
Points
That’s so nice. We’d love to learn
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8641
Points
how can we get invoved
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65239
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There is so much to learn so teach us let us know things to do
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193
Points
sure, I’d drop updates on it
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8641
Points
thank you
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65239
Points
Exactly let’s know what’s happening in the crypto world
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8641
Points
yes ooo
i heard the new trend is NFT now
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70
Points
Ill give it a try tho
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193
Points
good
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65239
Points
Road to becoming a millionaire
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8641
Points
ahbi
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779
Points
This is quite a lengthy message needs time to comprehend 😅
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779
Points
But will give it a shot 👌
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193
Points
some of this project have their roadmaps. So you can know where they are currently with the project and where they’re going..
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8641
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okay
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193
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I’ve successfully gottn 3 whitelist roles from some of this early legit project.
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8641
Points
nice!!!!
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65239
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Let us know how to go about it so we can follow up boss
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61
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I want to learn
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