While the rest of the 10,000 mutant apes were released during the public sale. The best way to understand how an NFT airdrop works is to look at the launch and the MAYC mint process. If you ever receive a random NFT in your wallet without your knowledge from an unknown source, you should be extremely cautious in how you handle the asset and try to avoid selling it or trading it in any way.

What are NFT airdrops?

NFT airdrops are a common method for promoting and marketing new NFT series or projects. Some airdrops will also reward current holders of a coin, token, or NFT with a new NFT.

For example, users of Binance.com have been introduced to a new way of earning rewards by inviting their friends to join the platform. Standard airdrops do not require you to spend anything in order to receive the airdrop, it is simply a task that you complete and in return, you’re rewarded with the airdrop. The cryptocurrency is usually a newer and unknown currency and may not be as valuable as some of the well-known cryptocurrencies like Bitcoin and Ethereum. An airdrop is a distribution of cryptocurrency, tokens, or NFTs that are sent to a web3 wallet address for free as a promotion, or as added value for participating in an experience or purchasing a digital asset. Airdrops are generally used to add additional value or to draw attention to a brand or experience.

How Do I Find NFT Airdrops?

SUDO holders can vote on on-chain governance proposals, and the tokens are initially non-transferrable. Really, airdrops are a win-win for both consumers and the brand, but be careful, free nft tokens because not all airdrops are good, especially if it’s random or the offer just seems too good to be true. Many new customers are drawn to such offers and become lifelong members.

  • This intense focus and dedication can lead to exceptional skills and expertise in a particular area.
  • However, the team at BFF will often give airdrop holders options for how they want to use their airdropped tokens.
  • All that’s asked of you is to provide your wallet’s public address so the token can be sent to you.
  • In this situation, airdrops might serve as both a small gift to the community and a promotional tool for the announcement.
  • This can help you make more informed investment decisions, identify potential risks, and discover new opportunities for growth and profit in the exciting world of crypto.

Blockchains like Ethereum typically have higher gas fees than other competing networks like Solana. Using less-expensive blockchains provides a great opportunity for traders hoping to spend minimal cash on gas fees. Although fees may be higher on Ethereum, the quality of artwork is generally superior to other blockchains. Ethereum is also the most trusted and decentralized blockchain in the world. Some projects offer free claims to qualifying individuals; others have a floor value well over $50,000. The number of different collections is growing exponentially, so don’t feel discouraged if you can’t afford $50,000 for an NFT. There are plenty of affordable options available and using a resource like Benzinga’s NFT Pro weekly newsletter could be a fantastic resource to help you pick out the best opportunities in NFTs.

Defi Airdrops

However, a limited period and quantity of NFTs will likely still apply. Airdrops have always been common in the crypto world, and with the rise in NFTs’ popularity, we’ve seen an increasing amount to participate in. If adding new, free NFTs to your portfolio sounds up your street, read on for your crash course guide to https://primexbt.review/top-nft-giveaways-of-2023/ and how you can help avoid risks on your journey. For any NFT collector, an airdrop is a great way to get your hands on new collections without the typical cost. Experience the future of decentralized finance with Clober’s Testnet Airdrop program!

Miidas is the world’s first non-fungible token marketplace for both digital and physical assets, a project backed by the Bitgert Brise chain. Miidas is also one of the largest NFT platforms in Asia, providing an all-in-one platform, including a marketplace, launchpad, and staking pool for creators and investors. Miidas currently has over 6000 NFTs and over $850k volume traded since May 2022. If you dabble in NFTs, you’ve likely been airdropped an NFT at some point.

Airdrop Dashboard

This way, a substantial amount of NFT’s can be transferred to many different accounts, without having to manually create each transaction. A controversial Optimism governance proposal is pushing for some wallets that sold the airdrop to be banned from future airdrops. Meanwhile, the total value of tokens on the Blur marketplace spiked by $10 million https://www.capterra.com/p/266072/Prime-XBT/ in the past 24 hours, DeFiLlama data shows. The tokens were initially listed at $1 on crypto exchange Coinbase, but fell to as low as 48 cents late on Tuesday. However, Asian hours on Wednesday saw buying pressure and the tokens rose to 72 cents as of writing time. There are tons of opportunities to claim a free airdrop on platforms like Twitter.

nft airdrops

Consequently, users often sell their airdropped assets after receiving them, though projects have taken steps to ameliorate this possibility in previous years. It is important for crypto investors to remember to do their own research before making any investment decisions. While staying informed about the latest news and trends can be helpful, it’s also important to take the time to thoroughly investigate any project or token you’re considering investing in.

The Impact of Airdrops on NFT Collections & Optimal Exit Strategies.

In this article, we will discuss some of the best NFT airdrops and giveaways that will take place during March 2023. PlayToEarn is the world’s leading blockchain-games data aggregator and news outlet. Bored Ape Yacht Club NFT holders received airdrops of 1 serum NFT for each ape they had. An exclusive airdrop distributes NFTs based on people attending an event, participating in a task, or participating in other one-off opportunities. It differs from a bounty airdrop due to its exclusivity, whereas a bounty airdrop is typically open to anyone over an extended period.

Aside from following specific projects you’re already interested in, there are plenty of places to learn about new airdrops. Social media and messaging platforms like Twitter, Discord, and Reddit can be great places to find collated airdrop information. CoinMarketCap and other price-tracking or aggregator websites also host regular lists of ongoing NFT drops. By far, the most common reason is for free nft giveaway marketing and promotional purposes. Distributing an NFT via airdrop is relatively cheap for a creator or project, as a portion of the total NFTs minted could be set aside for such promotions. A project may also airdrop extra NFTs to current holders that provide them more utility or simply as a gift or reward. This can bring more “hype” within a community for an already existing NFT series.