Today, users are looking for NFT projects that can generate 1000X or more value.
How do you get one? That’s the million-dollar question.
To fully appreciate the value of the NFTs that gave 1000X or higher return, it must be understood that they were all sold for $100 each, only a few months after the project launched with the initial investors showing their faith and thus bringing them value.
For instance, Bored Ape Yacht Club (BAYC) was minted by investors for only 0.08 ETH per NFT but has sold for more than 156 ETH on Opensea.
To keep an eye on the NFT projects, it is necessary to whitelist oneself with them, so when they announce the project is live and it can be minted, users can start minting it, before all the NFTs are sold.
It is when an NFT is traded on the secondary market that it acquires its real value.
People always bid higher to own NFTs since they are unique and have limited quantities. This adds value and keeps NFT prices at an all-time high.
BAYC, CryptoPunks, Decentraland, Axie Infinity, Silks, others were not the last good projects; there will be many more.
What is a NFT whitelist
For NFT projects, a whitelist is comparable to a VIP list.
Being on a whitelist is incredibly appealing to many people because so few individuals are on them. It’s a unique job with several advantages in the NFT community.
A whitelist gives a small group of individuals early access to more affordable NFTs than the broader public.
They are given the opportunity to purchase NFTs at lower prices and earlier than anybody else (higher gas fees due to numerous people minting at the same time.)
Being on a whitelist also makes it simpler for someone to avoid gas fights. When there is a lot of trading activity, usually on the Ethereum blockchain, gas wars occur.
Being on a whitelist makes it much simpler to obtain NFTs at a lesser price without having to pay the astronomical cost of gas fees because the majority of NFT transactions take place on Ethereum.
Other benefits may also be included in an NFT whitelist; the specifics will ultimately be decided by the person who created the NFT initiative.
How to get on a whitelist
1. Join Discord to follow the NFT project on social media
You can learn about an NFT project and get on the whitelist by following the NFT brand on their social media channels and spending time in the project’s Discord channel.
Typically, whitelist possibilities can be found in Discord’s announcements channel, which is dedicated to this purpose.
In case there is nothing there, you can always ask in the general chat room of the Discord server.
In addition, you can search #whitelist on social media; however, exercise caution as many NFT initiatives may be rug pulls or scams.
2. Find an NFT project before it is released:
The first thing you should do is find an NFT project that you genuinely enjoy. The Rarity Sniper program can help you find upcoming NFT projects.
The best way to find potential NFT projects and join the whitelist is to search through well-known social media websites like Twitter.
Do your own research before investing time in trying to get on the whitelist to make sure you feel comfortable investing in the NFT.
3. To become whitelisted, adhere to the directions:
Different NFT initiatives have different requirements to be whitelisted.
Achieving a certain level inside the Discord server, being extremely active and helpful within the server, sharing things on social media, and recruiting new members to the Discord server or community are a few examples of these requirements.
Other NFT projects use games, puzzles, and riddles to choose who gets a seat on the whitelist.
Building a following on social media is another approach to being on an NFT whitelist, as many NFT projects have slots on their whitelists reserved for influencers.
As an alternative, you could need to post memes, write fan fiction, create fan art, or create fan art regarding a specific NFT project to be whitelisted.
Additionally, there are effortless ways to secure a spot on the whitelist.
Consumers who are whitelisted for an NFT project benefit from lower NFT costs and first access to NFT sales.
Additionally, it enables you to avoid gas wars. These occur when many consumers trade NFTs at once, driving up trading costs and making them far more expensive to buy.
Like how a VIP list encourages people to attend an event because renowned people will be there, whitelists help creators by increasing demand for NFTs by drawing people to a particular project.
So, if you want to buy a high-quality NFT project, try to be on their whitelist, so that you can enjoy early access and an opportunity to increase your value.
However, any investment in NFT projects needs to be done with utmost care, as investment is very risky when it comes to the crypto space.