NFTs have skyrocketed in the last months. Their trading volumes reached $10.7 billion in Q3 2021. A good indication of the market’s performance is that 2 NFTs of a collection of pixelated avatars called CryptoPunks, sold for 4,200 ether or over $12 million. The fact that a pixelated image is worth more than, for example, most houses will leave anyone speechless.
However, all that glitters is not gold, for example, Evolved Apes was a collection of 10,000 NFTs that attracted investors with the promise of an upcoming game. But a week after the project’s launch, its developer disappeared, taking 798 ethers worth $2.7 million with him.
Knowing the price of NFTs can scare newcomers. That’s why we explore how to get free NFTs in easy ways.
How to Get a Free NFT
There is an easy, low-risk way to participate in the NFT market. In fact, some of the projects that made headlines were acquired for free, including CryptoPunks. Project creators make their money from resale commissions and don’t need to rely on profits from an initial launch, so they often raffle off NFTs.
An excellent way to get a free NFT is to start your search on a website called Rarity.tools because it tracks trending NFT projects. You should follow these projects on Twitter, Reddit, and Discord. This will keep the investor updated on potential opportunities because NFT projects or blockchain or crypto projects can’t advertise on social media. Still, Twitter is a safe haven for them because they don’t usually block crypto projects.
These platforms will state precisely what needs to be done to participate in an NFT draw. Terms vary but may include retweeting a post or adding friends to the community/platform. Some of these projects will cover Ethereum gas fees when transferring NFT.
Next, a digital wallet will need to be created. It is essential to pay attention to the URL because several fake platforms pose as digital wallets. In addition, create a different wallet, which will act as an “intermediate” wallet.
There are options to hack these wallets if too much information is given out. That’s the reason why the only secure way to do it is to separate the NFTs into 2 wallets.
When transferring or receiving digital assets, the wallet address is shared. That’s why it’s crucial to have an intermediate one.
Free Mints, Airdrops, and Gaming
Some new NFT projects start their crypto life offering free NFT mints or airdrop NFTs to individuals. The way to find these free mints is to get active in the NFT community. A good tool for this is Open Sea, one of the world’s largest NFT marketplaces, to find upcoming mints.
A piece of advice when looking for upcoming NFT mints: stay aware of malicious projects and do as much research as possible about each creator.
The only cost of free NFT mints is the gas fee to mint the piece to the blockchain. It is essential to remember some blockchains are more pricey than others. An example is Ethereum, in which free mints can surpass $100 due to gas fees.
NFT airdrops, on the other hand, happen when an NFT is given to a qualifying individual, typically holders of different projects. A good NFT airdrop is the mutant veils for BAYC holders in which those who owned one Bored Ape NFT were given an exclusive drop of Yuga lab’s second project, Mutant Ape Yacht Club. Today this free Bored Ape drop is worth $50.000. This shows that becoming part of the free NFT airdrop world is worth it.
This type of drop helps to quick adoption of each project and promotes growth as creators. The NFT airdrop concept is essential within the community because it gives investors something to look forward to when acquiring an NFT.
Finally, a third good way to get free NFTs, and a prevalent one, is playing to earn NFTs.
Some video games reward users with crypto for completing tasks or being the ultimate winner in the game. These decentralized games are usually an upfront investment since they require an initial NFT purchase to start playing the game.
Although they are not entirely free, as the latter options are, they can be a worthwhile venture for newcomers that don’t fully understand the crypto world. Some top NFT games are The Sandbox, Axie Infinity, and Sorare.
These are ways to enter the NFT world with zero or meager costs. They show that the crypto world is open to anyone who wants to spend the time to fully understand and navigate it.
By Juanita Rico
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