NFTs or non-fungible tokens had a blast in 2021. The daily ups and downs of the market aren’t something to bother about. The long-term horizons of the technology are clear. Likewise, unique digital assets whose ownership is provable and verifiable on the blockchain. Hence, NFTs are here to stay for a long time. In fact, they will rewire the structure of the internet as we know it. The topic of today’s post is to understand what an NFT Airdrop is and how it works.
NFTs will soon become tethered to the real world via regulations or user adoption or both. There will be no stopping the NFT bandwagon from taking over the world. Blockchains track ownership across the internet, and enable a global, 24/7 liquid market. It is analogous to an economic pipe. Hence, transactions and liquidity happen via millions of activities per second. The concept of airdrops came as a way to bootstrap the formation of new communities. Likewise, based on shared ideals, thoughts, and beliefs. Think about them, as how individuals come together to form a private club of sorts
What are NFTs?
NFTs or non-fungible tokens are unique digital files that live on the blockchain. The blockchain is a decentralized database. It is not controlled by any single party. This property confers NFTs digital scarcity. Meaning to say, that it upends the original structure of the internet to make data and copies of it. With scarcity, comes value. Economic value is a function of where humans spend the most amount of time. In today’s world, it is in the virtual world. Although, the immersive experience of the internet can become much better, we do not mind it. People spend time on social media, e-commerce, entertainment and learning. there is enough evidence to say that people have become digital natives.
What’s an NFT Airdrop and How Does it Work?
An NFT airdrop is the distribution of NFTs to a select list of individuals’ NFT wallets. Remember that there is no intermediary between this. It is a direct relationship between creators of the NFT project and the community. As in, by collaborating with each other. Everyone gets aligned on the fact that the NFT project must be successful and make a mark in the market. This is in exchange for becoming early supporters or for contributing to the project. Hence, Airdrops represent an effective way to reward supporters. On a high-level, NFT Airdrops work in the following ways.
Find NFT Projects That Look Promising
Individuals interested in receiving NFT airdrops should start here. The best place to find an NFT project making a buzz is Twitter, Discord, and Telegram. How should we judge whether an NFT project is promising or not? How can we make a probabilistic assumption that a project would do an NFT Airdrop? You can understand an NFT project’s promise by checking out a few things. First, is the quality of the art. Does it look great? Do you like it? Often, the simplest thing to do is to find NFTs that make you feel good. Second, check out the quality of the founding team members. The best NFT projects have promising teams. Individuals who have had a track record of shipping good NFT projects are a great indicator. All these points increase the likelihood of you getting a free NFT Airdrop.
Contribute to the NFT Projects
The best NFT projects are community-driven. They have many opportunities for individuals to drop by their Discord Server. For instance, many NFT projects ask their community members to get the word out about the project. In essence, community members become marketers of the NFT project. Likewise, NFT airdrops get reserved for the best community members. These members contribute in marketing, product-related skills like writing, strategy, and partnerships.
Stay Active Around the NFT Project
You never know when whitelists or Airdrop campaigns get planned. This is unless you’re an active member of the NFT project’s core community. In that sense, it is the same as how social groups get formed in the real world. Your personality should endear to people around you. Hence, the better you position yourself from a unique perspective. Hence, from a usual sense of things, NFT Airdrops have specific criteria. For instance, you can get NFTs airdropped for being an early member. Hence incentivized to bring in more people from your social circle. Likewise, when working with the team to plan a partnership.
NFT Airdrops have become a viable mechanism to incentivize community members. The founding team is distinct. As the project gains traction, community members come in to fill this gap. Hence, as the market matures, expect more people to jump in on the NFT Airdrop bandwagon. Today we’re seeing a lot of awareness for NFT projects who work for the long-term. Likewise, based on a stellar vision and execution ability. Learning and education around this market will go a long way in helping you gain a foothold in the NFT market.
NFTICALLY is a venture that helps creators, brands and enterprises create and launch their own NFT marketplaces.