Whitelists are the golden tickets that allow you to buy NFTs early and at a cheap price in the world of NFT.
If you are in the NFT space, you know about flipping NFTs for huge profits. This is mostly achievable when you buy low and sell high.
The NFT space is constantly growing with many projects getting to the mainstream. Good utility projects tend to attract a lot of buyers that are interested in minting as soon as the projects drop. Hence, there is a high chance that too many people would have gotten their hands on an NFT long before you do.
Getting whitelisted guarantees you a chance to mint the NFT before the project gets to the public. Hence, an NFT whitelist simply put is a spot reserved for someone. Whitelist spots are usually limited to a few persons, however.
This post presents 10 easy strategies for getting on whitelists for NFT. But first, I will go through the basics of NFT whitelisting.
What is an NFT whitelist?
In every project, some people remain loyal and engaged with the project. Usually, these people deserve a head start over others. NFT whitelist is simply a reserved spot for a few people to mint an NFT before the public sale.
An NFT whitelist guarantees your digital wallet address the eligibility to mint an NFT before anyone else can. Getting on a whitelist can be extremely profitable.
And this is because NFTs operate with demand and supply economics. If an NFT project garners a lot of interest, the project could probably sell out within a short time. Getting whitelisted saves you the stress of trying to get your hand on an NFT.
Furthermore, a whitelist in the NFT space refers to the list of people who get guaranteed access to mint NFT early at a specific date and within a window of time.
Benefits of getting on an NFT whitelist
There a numerous benefits you can get from getting on the whitelist for NFT. Some of the benefits include the following:
You have guaranteed access to mint
As has been said earlier, the foremost benefit of getting whitelisted on an NFT project is the spot reserved for you to mint an NFT before the public. One of the major problems people encounter when they want to mint NFT is scarcity. Note that scarcity is different from NFT rarity.
There is a tendency that all the NFTs in a project especially a project that is garnering a lot of interest can get sold out before you get the slightest chance to buy. However, getting whitelisted eliminates this problem.
You can get an NFT for an early mover price or even for free
Getting an NFT for an early bird price is great for people who are just starting up in the NFT space, but don’t want to risk their hard-earned money. Interestingly, it isn’t just beneficial to newbies; it is also beneficial to pros.
Generally, a low buy means a higher profit margin when you flip your NFT.
You avoid gas wars
With an interesting NFT project, the likelihood of gas war is usually high. Since the gas fee is the fee paid for transactions in the NFT space.
There is a tendency that people are willing to pay more gas fees because the more gas fees you are willing to pay determines how fast your transactions will be confirmed. And with so much competition to mint, people often increase the gas fee by paying more gas fee than usual.
This act of increasing what one is willing to pay results in ridiculous high transaction fees going for several thousands of dollars as well as leading to gas fee wars on NFT projects. However, getting whitelisted ensures you avoid gas fees wars.
This is possible because when you are added to an NFT project whitelist you can choose a specific time to mint your NFT within the window provided. This also ensures that transactions are spaced out.
Thus leading to less competition, less traffic on the network, and ultimately low gas fees. This ensures that you end up losing tons of cash if the NFT project ends up unprofitable.
The benefits are so impressive that it will leave you wondering about the easiest way to get the whitelist in NFT.
How the NFT whitelist works
Whitelisting is the method NFT projects use to reward early supporters with guaranteed spots for mint an NFT. It simply ensures that supporters that are loyal to the project and have contributed to the success of the project have their crypto wallet pre-approved for minting.
This also ensures that they avoid the gas war that ensues when everyone else is clamoring to mint. it is not so difficult to get on whitelist for NFT. however, considering the benefits, it is worth the task.
Getting on an NFT whitelist allows you to enjoy certain benefits like;
- Whitelisting gives you the advantage of purchasing an NFT at full price before it goes public.
- For extremely desirable projects, whitelisting is the only means of minting or getting your hand on the project. However, this excludes buying in the secondary market.
- Whitelisting is like a golden ticket that is used to buy NFT at a cheap price and early on before others.
NFT whitelist VS presale
Most NFT projects use whitelisting and presale to time the market and build momentum to maximize sales. There is also more sense of interest in the project when it is still in its infancy. Hence, if the whitelist spot is immediately filled then it is a good indicator of a successful launch.
A full whitelist creates the fear of missing out (FOMO) on the public as well as building hype with other NFT collectors.
However, when the whitelist is low or slow, it indicates that the NFT project is not generating a lot of interest. Or that the NFT market is going through a bear cycle.
This helps the NFT project founding team to work on their vision, the NFT product as well as the community.
In most cases, whitelisting qualifies an NFT collector for the project presale, while presale on the other hand leads to the public launch of the project.
|In most NFT projects, the whitelist precedes presale. Simply, whitelisting gives you a spot on the presale list.||Presale precedes the launch of the NFT project to the public.|
|New NFT projects can enter a presale stage without whitelisting people.||It is usually uncommon for an NFT project to launch to the public without going through a presale.|
What does it mean to get whitelisted?
To be whitelisted on an NFT project means that you have passed through the process of eligibility as defined by the founding team of getting your crypto wallet pre-approved for NFT minting within a given date and time.
How to get on the whitelist for NFT
There is no general rule as to how to get on the NFT whitelist. This is simply because NFT whitelist requirements differ between projects. Whitelist spots are given out for a variety of reasons that may range from winning an art contest or inviting a specific number of people to a discord channel.
Each NFT project determines the metrics that are used to decide who gets on the NFT whitelist for a particular project and they vary across projects. In this section you will know the easiest way to get on a whitelist in NFT. and your questions on how to get on the whitelist for NFT will be answered.
1. Find a good project early
The first step to take if you want to get on an NFT whitelist is to find a good project early. Remember that whitelist is only applicable for a project that has not been launched. Hence, to get on the whitelist you must find a compelling project that you are willing to get involved with.
This implies finding a good project before it drops and before everyone else gets a wink of the project.
How to find NFT projects early
There are several ways of spotting an NFT project early. However, the most prominent of these methods are;
- Scour Twitter: it is safe to say that Twitter is a platform where the NFT community lives. Hence, it is the most powerful tool that can be used to identify an NFT project early.
- Discord: Each NFT discord server serves different purposes. The shill chat room is where content about other NFT projects is posted. Hence, if you can filter the noise you should get a wink of the latest NFT projects.
- OpenSea activity: discord and Twitter may give you a hint of the latest NFT projects. However, monitoring their activities on OpenSea will let you know how the project is doing.
I have written a detailed guide that teaches how to find good NFT projects early on OpenSea.
2. Join the project discord group
The next step of getting on an NFT whitelist is to join the discord group after finding a compelling project.
NFT project discord group is where most of the project’s activity takes place. Like major announcements, giveaways, introduction to the founding team, projects roadmap as well as instructions on how to get on the whitelist.
In the discord channel, you will complete some steps to prove you are a human and not a bot. Interestingly, most discord channels usually have links to how-to-whitelist. You can find the link to an NFT project discord group on their Twitter bio.
3. Invite people
One other way to get on an NFT whitelist is by inviting people. Inviting people to an NFT discord channel is one of the metrics many NFT projects use to get people whitelisted.
NFT projects appreciate it when supporters bring in more interested buyers. Interestingly, everyone on the project has a unique invitation code that can be sent to friends and other discord servers. With this unique code, you can invite people to the NFT project that you are trying to promote.
However, when posting promotional content of an NFT on other NFT discord servers ensure to post only in the shill chat room of the server. Each NFT discord server has numerous chat rooms that are used for several purposes. Shill means to show off in the NFT world and it is only in the shill chat room you are permitted to advertise another NFT project.
4. Follow through with the eligibility process
Each NFT project has its unique set of requirements to qualify for the whitelist. Hence, you must ensure that you meet their requirements. To get whitelisted you have to be eligible.
Once eligible for whitelisting you may be required to provide your crypto wallet address to get pre-approved for minting. You are to then choose a suitable time to mint from the options you are provided with.
5. Stay engaged
NFT projects usually offer whitelist spots to supporters that add value to the project and are genuinely interested in the project. You have to do your best to get noticed by the founding team. You have to earn your spot because they are not gifted to everyone.
To get noticed you have to actively engage in the discord chat making a meaningful contribution to discussions about the project. You should also interact with community members. This can be done by;
Tweeting about the project, retweeting tweets from the project handles, and other tweeps about the project. As well as talking about the project on all your social medial pages.
6. Get in early
It is important to find a good project early before everyone else does. What is equally important is getting on board the project early. Getting early creates an initial demand for whitelisting.
This is because most NFT projects easily give away whitelist spots to early supporters. The key is identifying a viable project and becoming the first few early members of the discord channel.
Getting on an NFT project whitelist is a bit of work but it is not undoable. And only require a few days of effort from you.
When you eventually get whitelisted you will realize that it was worth the task because you could easily flip your NFT for a high-profit margin.
7. Take part in giveaways
Most NFT projects host giveaways on their discord channels as well as on their social media pages. Here, they ask their followers to like and share their messages. Interestingly, liking and sharing these messages can also earn you a whitelist spot. However, you should participate in as many giveaways as you can.
8. Participate in contests
Most NFT projects usually come up with contests for users and winning the contest could guarantee a spot on the whitelist. Such contests are usually open to the general public.
You should participate in as many of such contests as possible if you desire a spot on the whitelist.
10. Make a fan art
You can take inspiration from the project and create fan art to show your support for the project. This way, you give the project free publicity and there is the likelihood that it will earn you some points. As well as help get you on the NFT project’s whitelist.
10. Hold NFT from previous collections
Most NFT projects or blue-chip NFT collections act as a Launchpad. They partner with new or hyped NFT collections. Hence, to get whitelisted, NFT collectors need to hold the specific NFT that is acting as a Launchpad to the new or hyped NFT.
Can you lose money while minting a whitelisted NFT?
Whitelisting gives you an option to mint NFT before it gets to the public and doesn’t in any way guarantee profit. It should be noted that minting an NFT doesn’t guarantee profit and there is a tendency for NFT projects to fall to zero. Minting NFT implies you can tokenize the NFT as well as ensure that the digital asset is verifiable on the blockchain.
However, there is no guarantee that people will be interested in purchasing your NFT. Minting ensures that NFT can be bought and sold. However, whether you sell or not depends on your strategy.
NFT whitelist scams
For simplicity, the NFT whitelist scam will be divided into two for ease of reading. Below is a summary of some of the most popular NFT scams you are almost certain to encounter. You have to read my complete article about NFT scams to know what they are and learn how to protect yourself.
Rug pull scam
A rug pull has become very popular in the crypto world and it is used to describe the scam where developers or founders of a project don’t follow through on their promise after receiving funds.
This type of scam is become prevalent in the NFT ecosystem and often occurs when the founding team of an NFT project is anonymous as this allows them to quietly disappear after receiving funds from investors.
Rug pull scams occur in NFT projects usually post-sale and it occurs in three distinct ways. Developers selling all their shares, removing the ability to sell, and also removing liquidity.
Buying whitelist spot
As a rule of thumb, whitelists are given out to people as a reward for their loyalty and engagement to the project community.
Generally, a whitelist is not available for sale; hence, if you are offered to purchase a spot on a whitelist NFT project, you should approach the offer with skepticism. These usually turn out to be scams.
Getting on an NFT whitelist may be a herculean task in the beginning because of the shift you may have to put in. However, it will always turn out to be a worthy task in the end if you get whitelisted.
Again, in all you do, avoid the NFT whitelist scam. Put in the shift you have to put in, get in on the whitelist and enjoy the benefits that come with it. This post should have taught you the easiest way to get on a whitelist for NFT.