We all know it is sometimes very easy to make money with NFTs and, therefore, to earn Bitcoins, Ether, Ripple, Cryptos or Dollar. Unfortunately, to do that, you have to buy NFT. But did you know that you can also get NFTs for free, even in 2022? We will tell you how to get your free NFT drops!
Why do free NFT drops exist?
An NFT is a “Non-Fungible Token”, meaning it is unique and cannot be exchanged. It is a kind of title registered on a Blockchain.
Considering the hype that some NFT collections have experienced recently (Bored Ape Yacht Club, CryptoPunks, Azuki, Moonbird), one may ask, “Why on earth are some NFTs available for free? Why give away NFTs when you can sell them and make money with them?”
The reason is quite simple: to create hype around an NFT collection to sell them for more money.
If you are an NFT creator, you may have solid fundamentals and a real use for NFTs, but if you don’t have the community behind the project, it won’t work. Distributing free NFTs under certain conditions proves to be the most effective way to make yourself known and, therefore, to be able to best value your NFT collection.
6 tips to enjoy free NFT drops
1. Participate in a giveaway
In the web3 world, a giveaway is a contest where NFT and/or cryptocurrencies are given away in exchange for something, usually a share on social networks. Most artists share their projects and promote them by announcing giveaways through their social networks and Youtube channel.
How to find out about the giveaway:
- Subscribe to newsletters. This is a good source of information to keep up with giveaways without having to search.
- Follow crypto projects, influencers and bloggers on social networks.
- Look to the marketplaces for upcoming mints: Opensea, Rarible, SuperRare.
- Type #nftgiveaway on Twitter, and you will get the latest news
Be aware that to get a free NFT through a giveaway, you may have to spend a minimum of time. First, you have to find the right project. Then, you have to actively participate in the project’s community to have more chances to get the NFT because the most active members are usually rewarded.
After all your efforts, you may have the opportunity to earn $110,000 thanks to a free NFT. On the other hand, it might not be worth anything in the end, but as they say in Lotto: “100% of the winners have tried their luck”.
2. Get an airdrop or a Whitelist to enjoy free NFT drops
Unlike a giveaway, an airdrop requires the completion of certain “social tasks” (follow projects, tag friends, post a Tweet about the project, join all their networks).
Again, several tricks are possible:
- Keep an NFT for the long term, hoping that the project team will give an NFT from the new collection to anyone who has kept the NFT long enough. This was, for example, the case with the famous Bored Ape Yacht Club with the Mutant Serum NFT.
- Use some platforms actively. For example, OpenDAO distributed its SOS token to anyone who exchanged NFTs from the project. Thus, some people were able to earn several thousand dollars.
- Actively participate in the project’s social networks by inviting friends, volunteering to be a moderator or any other initiative to help the project grow.
- Get whitelisted. Whitelists usually have limited space, so it’s hard to get in, but if you do, you can be sure you’ll make a nice profit.
Again, you may be lucky enough to get paid comfortably, but the activity can quickly become time-consuming like the good old paid surveys. You’ll need to participate in many projects to maximize your chances.
3. Via Play-To-Earn
By actively playing P2E games, it is possible to earn NFT. Some games can help you greatly increase your portfolio with many free drops, such as The Sandbox, Axie Infinity, Sorare. However, some NFTs will completely lose their value over time. So it’s important that you educate yourself about the game.
Look at the roadmap and read what users say about it. This will probably save you from wasting time trying to get a worthless NFT. It is possible to play all sorts of free games that allow you to earn tokens (card games, casino games, gaming in general with video games). To start, you need to download the game (for free), create an account and start playing.
How to get free NFTs via P2E:
- Participating in the Beta version of the game.
- Community involvement. Games like Alien Worlds or Farmers World offered tokens for active participation.
- “Free starters”. Some games offer NFTs to start playing. Depending on the game, these tokens can be traded on a marketplace.
- NFT loans. In this case, the borrowed NFTs do not belong to you, but you can use them to start earning rewards without having to spend money.
- Some play-to-earn games offer competitions to earn free NFTs.
- “Breeding” NFTs.
4. “Breeding” NFTs
here we mean “animal” reproduction, not the fact that an NFT can be copied (because its essence is to be unique). The reproduction process consists of “mating” two NFTs to obtain a new free drop, with the characteristics of both “progenitors”. The objective is, of course, to have two rare NFT “parents” to obtain a new one that is itself rare.
CryptoKitties were one of the first to popularize this economic system. NFTs are mined on the Ethereum blockchain. Once you buy CryptoKitties, you can mate them and produce babies, which can be hybridized to produce more babies.
5. Participate in events
A lesser-known trick is to participate in events. Some large companies with significant resources seek to promote their entry into the metaverse and offer limited NFTs to those attending the event. It is possible that these NFTs will increase in value over time.
6. Become an Influencer
Becoming an NFT influencer is probably the surest way to get free NFT drops, but you have to be passionate and patient to get there. You need to have a minimum number of followers so that projects will trust you to promote them and give you NFTs in exchange.
Related: how to invest in metaverse – guide 2022.
Some precautions to take with free NFT drops
Do free NFTs have “hidden costs”?
If you are lucky enough to be whitelisted to be able to mine an NFT, some costs may apply. You have to be careful because some blockchains like Ethereum can require important fees (several tens or even hundreds of USD). So even if an NFT doesn’t cost anything in appearance, you should still plan for fees.
A scam in the Blockchain world is a scam that aims to make you buy an NFT instead of another one or even get access to your Wallet and empty it completely. Also, note that having your funds on a cold wallet like a Ledger Nano will not secure your funds in any way in this case.
So be very careful what links you click on because things can go very fast in the heat of the moment. Learn more about how to protect yourself here.
NFTs should not be seen as some kind of free pictures, but as tokens that can be exchanged for currencies or crypto-currencies (USD, Bitcoin, Ether, etc) during transactions on exchange platforms like Binance or Kraken.
It can be compared to an art market with auctions and selling to the highest bidder. Except that the main auction houses are replaced by marketplaces like Opensea.io, Rarible or NFT Foundation.