NFTs are in high demand nowadays. Since the non-fungible token world is constantly evolving, NFT drops are released every day. Most critics and NFT experts believe that they’re the future, a new way of interacting with video games, virtual communities, and web services. We agree with this axiom, but there still are doubts around as it’s a relatively new niche.
Today we’ll try to clear the most common ones, such as: How does the NFT work? How can we mint or buy an NFT? What is Whitelist NFT? Read along and become the next great NFT trader!
What Is NFT Whitelisting?
Whitelisting is a common practice in the NFT world. The term whitelisting describes a crypto wallet address approved for minting NFTs on specific times and days, commonly on a date/time window. Whitelisting is great for minting NFTs before they reach a secondary market, where they will likely gain a price hike.
What Are NFT Whitelists?
When you’re in the NFT world, you very likely will find the terms “Allow List” and “Mind List.” Both are synonyms of the Whitelist concept. Some NFT creators and communities prefer to use these terms rather than Whitelist. You can also find the abbreviation “WL.”
The term whitelist means you get early access to non-fungible tokens for lower prices, which you later sell for a higher profit. Here the idea is to buy low and sell high, i.e., flipping. Whitelist also generally means, in the cybersecurity industry, that an account is safe.
Thanks to Whitelist, you can gain early access to opportunities for getting an NFT or participating in new NFT projects.
Whitelists have the mission of allowing supporters to avoid “gas wars.” A “gas war” is when NFT collectors and creators try to mint (also called an “NFT drop”) their creations at the same time.
The whitelist mechanism makes NFT launches more democratic and available for anyone who wants to participate.
Since most NFTs are launched on the Ethereum blockchain, the address being whitelisted would be your public Ethereum (ETH) address.
Whitelists also prevent spam accounts from accessing presale minting.
What Is the Purpose of the NFT Whitelist?
Whitelisting has three major purposes you commonly face when trying to mint your NFT projects.
As mentioned above, the first purpose is to avoid competition and “gas wars.” But what do Gas Wars mean? This concept refers to “gas fees,” which are transaction fees in the NFT environment.
In the NFT ecosystem, the more gas fee you’re willing to pay, the faster your transactions will be confirmed. This means that many people are willing to pay higher transaction fees to confirm a transaction before anyone else. With Whitelists, interested people can pay reduced transaction fees.
The second purpose is to help buyers to get their hands on NFTs. Many NFT projects are already sold out before they can acquire one. Since the NFTs options are growing and growing, as soon as a good project comes to light, many interested buyers rush to mint. Thanks to whitelists, you can acquire a part of popular NFT projects.
The third and final purpose is to get an NFT for an ‘early bird’ price. You can even get free NFT! This is great for early supporters or newbies in the NFT market who do not want to risk their money. Besides, buying an NFT at a low cost means whitelisted users get a higher profit margin when flipping.
What Does It Mean to be Whitelisted in an NFT Project?
To be capable of minting your NFTs in the NFT space, you first need to be whitelisted. It means you need to pass through the process dictated by the NFT project team to get your ETH address pre-approved to access the project’s minting process to mint your NFT creations.
Non-whitelisted addresses cannot be part of a minting process, at least in the first sales.
How Do You Get Whitelisted?
In general, there are 3 basic steps to getting whitelisted for a specific NFT project:
- Find a good project early.
- Join the project’s Discord server.
- Follow the instructions and fulfill the requirements.
Find a Nice Project Early
The first step to getting you whitelisted is to find a project pre-launch. This category fits two types of projects:
- A brand new project.
- An existing project that is releasing a new collection.
Projects will let you know the mint price and the total number of units put up for sale.
A good place where you can take a look at the best upcoming projects is rarity.tools/upcoming. Here you find many projects of different styles and from various sources.
Another option that may lead to great results requiring more time and effort is to follow NFT influencers. This way, you can stay up to date with the latest news in the NFT space.
Whatever approach you prefer, the most relevant is that you do your own research. This way, you can know what is better for your interests and avoid fierce competition or scams.
Join the Projects Discord Group
Once you decide on a project, you should join the Discord group associated with the project in question. Discord is the main communication channel in the NFT world, followed closely by Twitter. If you have a Twitter account, you can also check the related accounts to find the whitelisting info.
You can usually find all the information about the NFT and how to get whitelisted in the “announcements” section of the specific Discord group.
If this section does not exist within the Discord group, then explore the group to see what you can learn (maybe they don’t have a whitelist). You can even ask other community members of the group for information or other NFT projects.
To do this, head to the “general” section. It’s common for group members to chat about the project in question, NFT whitelist spots, and other general topics.
Note. Keep in mind that good projects attract all types of people, even scammers. So, there is a potential risk of fraud. Be cautious of direct messages. Scammers can encourage you to follow random links.
Follow the Eligibility Requirements to Get Whitelisted
Upon finishing the research phase and checking all the information about the project’s whitelist, now it’s time to join the whitelist.
Getting an NFT whitelist spot may take various forms:
- You may be asked to fill out a simple Google form.
- You may be asked to invite others to Discord to earn your whitelist spot.
- You may be asked to join a lottery system that picks whitelisted addresses at random.
Remember that each project is unique and has its own rules for getting whitelisted. If you don’t feel comfortable with the practices you can find inside a Discord group, remember that there are other Discord servers out there and many other projects with low gas fees, high initial demand, and great community engagement.
If you’re legible, you’ll be prompted to give your crypto wallet addresses to get pre-approved for minting. Next, you’ll have to select a day and time to mint from all most projects and options they provide you. Once you do this, mark the time and date you’ve selected. Do not forget you’re going to mint an NFT!
Also, keep in mind that one of the most relevant eligibility criteria that consider the founding team members is staying active in the community. This is because founders need help to promote their projects. This is their way of rewarding your participation, giving you a chance to access a whitelist early.
Where Do I Find my Public ETH Address?
Most users and NFTs buyers use MetaMask as their ETH wallet. This is a crypto wallet & gateway to blockchain apps. You can also use Binance and similar platforms.
To get your ETH address, open MetaMask, and log in.
Regarding MetaMask, just log in and head to the top of the page. Find “Account 1” (or whatever you named your wallet) and click on it to copy the address. So, now you can share your address for whitelisting.
Note. Commonly, sharing your crypto address with unknown sources is not safe, but speaking about whitelists, you can trust them since your public address does not give NFT creators access to your funds.
Tips to “stay active” and Get Whitelisted in NFT Projects
Below you will find some relevant tips to stay active in the Discord or Twitter communities and put your name on the coveted list. If you’re eager to be on the guest list, we recommend you apply to all of them.
Make Fan Art
Making fan art related to the NFT project brings an obvious benefit for both the creators and you. This is a perfect way to show your support to owners and other members of the community. This is free and provides you with some points for your cause.
One of the best strategies to ensure early access to minting NFT is inviting people to the project. The best way of achieving this is to share your invite code with personal friends or in multiple chat rooms of relevant Discord channels. Use the “shill” chat room of the Discord server since it means showing off in the NFT space.
NFT project creators look favorably to users who stay engaged and show genuine interest in the project. The creators will notice you actively engaging on the Discord chat and being part of conversations there. Discuss the project with other community members. Some good strategies are tweeting about the public minting, retweeting, and talking about the strong points of the project. This way, you’ll have guaranteed access to the Whitelist.
Be Part of NFT Giveaways
Many NFT projects perform giveaways on several social media, such as Twitter and Discord, that encourage participants to share the project for a chance to get early access to the whitelist. We recommend you take part in as many as you can.
At the beginning of the projects, most creators easily give whitelist spots to early supporters to create a high initial demand. This prevents network congestion in the future and ensures a minimal number of participants.
The key is to identify a promised project at an early stage and get full access to the project, becoming one of the first members of the Discord channel.
Remember that wiser investors always put their eyes on values with less traffic, such as crypto assets, to sell high. This way, they buy NFTs at a lower price and gain a certain amount of money when selling their property.
The competition for newly minted tokens might be fierce. This can cause the floor price to rise and send gas fees through the roof. And when it comes to rare tokens, things might become much worse. If you want to trade NFTs and gain more money when you sell these tokens, then the best option is a whitelist.
We hope we have clarified most edges about whitelisting and NFTs. This practice will provide you with several benefits, so if you’re an enthusiast of these tradable virtual objects, then get whitelisted and mint tokens on the market. We fully support you! Finally, your job is to decide which way the scale tips for you as an investor.
That said, remember to read other GamerSEO articles we have on our blog. Browse our site and discover all the useful NFT and gaming articles we have for you. They will meet all your expectations!