March 3, 2022

The Low-down On Obtaining NFTs For Free

The Low-down On Obtaining NFTs For Free

How Can I Receive NFTs For Free

Top-quality NFTs are not an inexpensive item. On the Ethereum blockchain, paying as much as $500 for a new NFT is not out of the norm. Some NFTs cost even more. This payment does include the transaction (gas) fees which run into hundreds of dollars. Cheap NFTs are available on the Polygon network, but individuals dabbling with NFTs rather than professional projects are the source of these NFTs. The likelihood of such NFTs becoming valuable is low. 

Where To Find Free NFTs?

For those without the funds to mint NFTs, there are ways to obtain them for free. 

Marketing is necessary to launch all NFT projects. The exception is NFTs released by a well-known name or corporation. The value held by the cooperation is sufficient for viral marketing to occur. For example, if a brand such as Prada or Coca-Cola were to launch an NFT project, the news would spread fast without significant effort.

Normal individuals usually run NFT projects, and a successful launch requires marketing effort. The marketing phase is usually a few weeks to a few months, during which time there are opportunities to win NFTs. Offering prizes and giveaways are the most significant way for projects to advertise, gain exposure and grow the community.

Promotion and marketing take place on Twitter, Discord, and Instagram. Many projects start by offering the chance to win whitelist spots. The winners can mint before others but still need to pay for the NFT. Occasionally the whitelisted people obtain the NFT at a discounted price. 

Twitter is the best place to discover NFT giveaways. Searching under #NFTGiveaways will show projects using giveaways. The more popular the project, the fewer opportunities to win an NFT; there is no need to use enticements. 

Twitter also has promoters not related to projects doing giveaways. They are running giveaways to grow the account and increase the following. Some well-off individuals run contests to give back to the community.

The usual requirement to enter is to retweet, like the tweet, and in the comment section, add several friends who may have an interest in NFTs. Some also ask people to join their Discord server. 

The Discord servers of NFT projects also run giveaways. These run as chat contests; members who chat the most are awarded NFTs as a prize. There are other giveaways in invite contests; members who invite the most people to the server receive NFTs. Some try to cross-collaborate with other projects; the Discord members must join another server to enter the giveaway. Fanart contests are also widely used by more significant projects. It's worth joining numerous Discord servers to discover giveaways. 

Note Of Caution. 

NFT giveaways are very common on Twitter, but not all are real. Promoters run many fake giveaways, which cloud the scene. 

They offer the chance to win an NFT, but the prize will not materialize. Fake giveaways are apparent when winners are not announced in the comments. It's best to go through the promoter's Twitter feed and look at previous giveaways. These promoters seek retweets to gain exposure and followers; the fake giveaways are a means to grow the account which can be monetized later.

The best approach is to identify people with real giveaways and consistently enter the contests offered by these accounts. 

Scams are less likely with giveaways run by projects; these contests are generally honest. The exception is if the project is unsuccessful. It fails to take off with a low mint, the owners become demoralized, and they fail to award the prize. And the chances are people will not want to gain an NFT from a failed project! Many such projects have become abandoned by the founders.

Free NFTs Are Not Free! 

Thousands of others want to win NFTs; the competition is stiff. Many entries are required to win a giveaway on Twitter; it's a time-consuming affair. People are not paying for the NFTs monetarily; compensation takes an enormous amount of time. 

In Discord chat and invite contests, a vast portion of time is required to reach the top positions to win prizes, the same as Twitter giveaways.  

It may be better to seek employment and buy the NFT. But everybody's situation is different. For instance, in low to middle-income countries, winning an NFT and the value associated with it is worth more than the hours spent working. 

Free Mints.

A strategy used by collections with limited marketing budgets is to offer free NFTs. Most have little presence on Twitter or Discord, but people discover the project and mint the NFTs for free. 

The project takes off, and a Twitter and Discord community springs up quickly. NFTs, increase value, leaving the lucky ones with a money-making asset. Within days the initial hype dies, and with little to no road map, the price of the NFT falls. These are a good opportunity for a quick flip.

Some of these collections advertise on blogs and websites. Additionally, they can be found by searching Twitter and Discord communities that discuss NFTs.