What is an NFT “whitelist” and how do you join?
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An increasing number of NFT creators use “whitelists” to reward specific community members, allowing them to mint tokens in public at a lower price, sometimes for free. What exactly are “whitelists” in the NFT world, and how can creators benefit from using them?
What is an NFT “whitelist”?
A whitelist is similar to a VIP list or an active guest list. If you’re on it, you’ll get the benefit. Sometimes it’s early access.It may also mean that you can Buy NFTs at lower prices.
By creating a whitelist, NFT creators choose specific cryptocurrency wallet addresses to allow access to the minting process of their NFTs during a specific time window.
Some NFT projects are built around communities.Therefore, a whitelist can Reward early backers Or active members, by giving them an earlier time to mint NFTs than non-members.
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You are invited to an event party invitation ticket with copy space for you.
It could also avoid a “gas war”. When many people try to mint NFTs from the same project at the same time, it pushes up the transaction price. This is the cost of actually executing the transaction – separate from the cost of purchasing the NFT itself.
By specifying different times for different buyers, creators can therefore spread out sales over longer periods of time. It’s sort of the equivalent of having a serpentine queue outside the store, or giving customers a time slot to buy. It avoids a large number of people cramming into one place – only with NFTs it is a virtual place.
How do you get whitelisted for NFT sales?
It all depends on the project, although there are some rules of thumb.
Many NFT project leaders communicate via Discord. Therefore, in order to get involved, potential buyers and/or backers may benefit from joining the project’s Discord server early. Projects typically advertise their Discord servers via Twitter or other social media platforms.
The creator disseminates information about their NFT project in the Discord server, including (if they use a whitelist) information on how to join the project.
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Remember, to be whitelisted for NFTs, the project creator – or team of creators – must specifically choose you. So if you join a Discord server and expect to be able to sit still and get whitelisted, you may be disappointed. Whether you are whitelisted or not may depend on your level of interaction with other members of the Discord server.
exist Laptop Magazine In other words, “most NFT communities operate like pyramid schemes”.if you bring X The more people on board, the more likely you are to be promoted yourself.
How does NFT whitelisting benefit creators?
Whitelisting can prevent or at least moderate a “gas war”. They also reward early backers of NFT projects. But how does this benefit creators?
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would pay ridiculous #ETH Gas fee, but no shipping fee
— katsock.eth 🍒 (@katlynkatsock) January 19, 2022
By rewarding those who bring the most members to the NFT project’s Discord server, creators can expand interest in the project. They make potential buyers work for them.
“Pyramid schemes” attract more and more members. The more people interested in a project, the higher the price of a single NFT during its public sale and resale.
If you are reading this and you are the creator, this guide Might be more useful to you.
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Bruno is a novelist, amateur screenwriter and journalist with interests in digital media, storytelling, film and politics. He has lived in France, China, Sri Lanka and the Philippines, but returned to the UK in 2020 to pursue a degree (and because of the pandemic). His articles appear in Groundviews, Forge Press, and The Friday Poem, most of which are available at Medium or onurbicycle.com.
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