Ultimate Guide to NFT and Airdrops
Undoubtedly, investors have more interest in cryptocurrency and NFTs. As calls for a decentralized financial system grow louder, there will be greater demand for digital assets. How can Web 3.0-based projects grab the attention of the target audience? Organizing airdrop programs will help in attracting crypto and NFT enthusiasts.
What is an airdrop?
It refers to the distribution of crypto-collectibles to a specific number of investors. Participants will hold the digital assets in their wallets for a certain duration. What happens after the completion of an airdrop program? Users can see information like the number of participants, number of winners, total airdrop amount, the start date, and the end date. Generally, winners are chosen after they complete certain tasks like downloading an app, referring friends, sharing news, liking and retweeting social media posts, and joining groups and channels. Later, the winners receive non-fungible tokens to their wallet address.
The factors to consider before taking part in an airdrop program are
Whitepaper – It is a comprehensive document that contains details like the problem to be solved, the opportunity in hand, the background of the team members, tokenomics, and the roadmap of the project.
Website – Potential participants of an airdrop program must thoroughly go through the website of the project. It offers an overview of the incentives offered by the native token, the exclusive benefits provided to the token holders, names of the project founders, and key backers.
Social media accounts – Generally, there is a lot of buzz and frenzied activity on the social media accounts ahead of an airdrop program. Hence, interested people can take part after seeing details of the giveaway, the rules of the contests, and the crypto exchanges where the tokens get listed. Before purchasing the token, investors must check the price, the trading volume, circulating supply, and market capitalization of the digital assets.
What are the advantages offered by an airdrop program?
Greater attention – Ahead of a full-fledged launch, projects require positive buzz. Airdrop programs uplift credibility. Community members who act as core supporters get free tokens.
More awareness – Amidst heavy competition in the Web 3.0 era, airdrops help in boosting awareness. The target audience gets access to important information of the project. This can lead to greater trading by investors which will result in a rise in the price of a token. Hence, conducting airdrops is a clever marketing tactic that works well for startups aiming to bootstrap their projects.
Decentralized token distribution – Undoubtedly, pump-and-dump schemes and fake Initial Coin Offerings (ICOs) affect the reputation of projects. Sometimes, institutional investors may try to artificially inflate the price of the tokens. Airdrops prevent that by distributing tokens to investors in a decentralized manner.
Participants must take a look at the allocation schedule ahead of the token generation event. It discloses information about the total supply, listing price, and the cost of the token during public and private sales. Generally, team members, advisors, shareholders, and founders of the project receive a specific percentage of tokens.
What are the current trends in NFT Airdrops?
In the last 30 days, NFT sales have surpassed $2.28 billion. This indicates that crypto collectibles have revolutionized the creator economy. Many NFT projects are distributing limited-edition collectibles to active supporters.
NFT holders receive several benefits like zero trading fees on token swapping, discounts for using decentralized financial services, rewards for staking, and the absence of charges for processing transactions. Airdrop programs do not have any entry barriers. Users just need to possess a software wallet for participating in it.
NFT Airdrops act as an effective promotional tool. It adds value to a project and also rewards members of a community. A balance is essential between using airdrops as a promotional tactic and creating utility for the token holders.
Investors can protect themselves from scams and phishing attacks by avoiding airdrop programs that ask to pay fees or request for disclosure of personal information like private keys, passwords, and seed phrases.
In recent times, creators give away NFTs during the pre-sale campaign. Hence, users whose names are on the whitelist get exclusive access to valuable collectibles.
Conclusion
As more innovative projects emerge in the metaverse, the number of airdrops will increase. Calling out artists, celebrities, influencers, and brands across the globe to distribute NFTs by organizing an airdrop program! Reach out to NFTICALLY, a leading white-label solution provider for launching your own NFT marketplace.
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What’s an NFT Airdrop and How Does it Work?
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NFT Airdrops: Everything You Need to Know
NFT airdrops are a popular marketing tactic that involves sending free NFTs, or non-fungible tokens, to select individuals. In many cases, NFT creators or marketers will airdrop NFTs to influencers, active members of their community, or holders of other NFTs in order to generate more interest in their project. NFT airdrops can be a fun way for both casual crypto enthusiasts and more serious investors to get free NFTs and expand their portfolio of virtual assets.
What is an NFT Airdrop?
An NFT airdrop is a way to send newly-minted NFTs to multiple wallets simultaneously. There are two ways to receive an NFT airdrop; either it is deposited directly into an individual’s crypto wallet by the sender, or it’s only sent to the individual once they have connected their wallet to a certain site. In many cases, an airdrop is what’s called a “holder airdrop,” which means that only current holders of another NFT are eligible. In essence, this is almost like a reward for holding a specific NFT. In contrast, a “standard airdrop” are generally available to the general public, while “exclusive airdrops” may only be available to select influencers or those involved with or support the project itself.
In addition, just like other NFTs, airdropped NFTs can have significant utility, allowing people to play exclusive online games, qualify for raffles, rewards, or giveaways, or get whitelisted for future NFT projects.
How to Find The Best NFT Airdrops
Now that we’ve defined an airdrop, how can you find NFT airdrops? First, you’ll want to act fast. When it comes to NFT airdrops, time is of the essence, as airdrops typically require an individual to go through a certain series of actions to qualify before the day and time of the airdrop. While some projects do multiple rounds of airdrops, in most cases, if you miss an airdrop, you’re out of luck. That’s why NFT enthusiasts interested in getting airdrops should stay informed of upcoming airdrops they might want to get an airdrop from.
With that being said, here are some of the top resources to find the dates, times, and qualification requirements for upcoming NFT airdrops:
It may sound obvious, but Twitter is a major hub of crypto and NFT activities, and while it may not be as exclusive or community-oriented as Telegram or Discord, almost every major NFT project is highly active on Twitter. Twitter is also an easy place to discover influencers or others who may have inside knowledge of the industry– and many of these individuals have Telegram groups, Discord chats, or email lists that you can sign up to for more information.
Telegram
Telegram groups are an excellent place to discover new NFT projects and keep up-to-date with existing ones. Many projects release information on Telegram or Discord before making announcements on more traditional social platforms, like Twitter, so checking Telegram can be a great way to get ahead of the crowd. In addition, many influencers will use their public (or private) Telegram chats to discuss their favorite projects and give tips on how to qualify for airdrops.
Discord
Like Telegram, Discord groups are a great place to find new projects and monitor the progress of existing projects. In addition, NFT projects often need volunteer Discord moderators, so if you really (really) want an airdrop, this could be a good way to potentially qualify.
NFT Newsletters
Many NFT-focused writers and crypto journalists publish weekly or monthly newsletters discussing their favorite new projects– and many will discuss upcoming airdrops and how to qualify. NFT newsletters often go into the most detail about upcoming projects, so this can be a good way to get a more in-depth look at a specific NFT project. Some of the top NFT newsletters include Overpriced JPEGs and Metaversal, both published by Bankless, as well as the Rarible Newsletter, the official newsletter of the Rarible NFT marketplace.
Airdrop Alert
Airdrop Alert is a popular website that focuses on providing users with the most up-to-date information on crypto and NFT airdrops. They also have a weekly airdrop newsletter with more than 400,000 subscribers. In addition to providing airdrop information, they also provide users with ways to earn (small) amounts of free crypto by completing challenges and other tasks, as well as entering giveaways. NFT projects can also apply to list their project on the site, so users can use the site to review many smaller NFT projects they might not be aware of otherwise.
Airdrops.io
Airdrops.io is another popular airdrop news service that lists a wide variety of airdrops. Unlike other websites, Airdrops.io also features a list of potential airdrops– projects that may drop a token or NFT in the future but have not yet been confirmed to do so. This can be ideal for more hardcore fans that want to make sure they don’t miss out on the next big thing.
Coindoo
Coindoo, a crypto and NFT news site, keeps a monthly updated page about the best NFT airdrops for each month.
DappRadar
DappRadar is a well-known site that features real-time information about most active dApps (decentralized applications) on most blockchains. It provides a wide variety of NFT tools, including an airdrop list, an NFT value estimator, and an NFT explorer, just to name a few.
The Most Famous NFT Airdrops
While there have been countless thousands of airdrops, some have been more famous than others. Some of the best-known NFT airdrops include:
Cryptopunks
While one of the most popular and expensive NFT collections today, almost 24% of Cryptopunks NFTs were initially issued as an airdrop to around 400 supporters, meaning that users only had to pay gas fees in order to mint their NFTs. Since their June 2017 initial mint, Cryptopunks have exploded in value, and, at their peak, the average Cryptopunk was valued at over $300,000, with the collection experiencing a trading volume of more than $70 million per day.
PancakeSwap
The popular decentralized exchange (DEX) PancakeSwap has done multiple rounds of NFT airdrops over the last few years. For example, in May 2022, they partnered with Project Galaxy, a Web3 credential data network, to do an exclusive co-marketing campaign and NFT airdrop, and, in April 2023, airdropped exclusive PancakeSwap NFTs to supporters to promote the launch of PancakeSwap v3.
Bored Ape Yacht Club
The Bored Ape Yacht Club (BAYC), perhaps the world’s most famous NFT collection, did what some might call a “reverse NFT airdrop” in March 2022. Instead of giving out new NFTs, it airdropped the collection’s new Apecoin token (a fungible token, not an NFT) to current holders of BAYC NFTs.
Are Airdrops Worth It For Investors?
For NFT enthusiasts, airdrops may or may not be worth it, depending on your individual circumstances. It’s important to realize that the vast majority of NFT collections never make anyone money, so if you’re constantly hunting airdrops as a get-rich-quick scheme, you’re in the wrong business. However, if you’re truly passionate about NFTs and you’re selective about the projects you try to get airdrops from, NFT airdrop hunting can be a fun hobby– and you just might make some money along the way.
In addition, it’s also important to look at how difficult an airdrop is to get when deciding whether it’s worth it. Sometimes, all you need to do is to sign up or even simply just hold a different NFT in your wallet. In contrast, other airdrops may require you to personally promote or volunteer to help a project– and, unless you’re a co-founder (or simply in love with the project), this kind of ‘free work’ may not be worth it in the end.
Are Airdrops Worth It For NFT Projects?
In contrast, for NFT creators and projects, airdrops can be a valuable marketing tool, though they’re not always necessary. Like any other marketing tactic, airdrops will not work well unless the project already has some type of audience and unless the airdrop is sufficiently promoted. It’s also important to realize that if airdrops are overused by an NFT project, it could potentially devalue the project’s main NFTs, which may not be ideal.
In addition, airdrops can also be used non-NFT crypto or DeFi projects in to promote their main product. In addition, projects may want to be selective when choosing who to airdrop to, since airdropping to influencers and active NFT enthusiasts will likely be far more effective than simply airdropping to random people.
Watch Out For NFT Airdrop Scams
Unfortunately, like the broader crypto industry, the NFT sector can be rife with scams, including NFT airdrop scams– and sometimes, it can be hard to determine if a project is legit. However, there are a few things that you can do to protect yourself against airdrop scams, including:
- No Upfront Payments: If anyone asks you to transfer crypto to a wallet to become eligible for an airdrop, this is most likely a scam and should be avoided at all costs.
- Never Reveal Your Private Key: While it sounds incredibly obvious, you might be surprised by the number of people who give away their private keys to scammers. There is no reason to do this under any circumstances– any NFT creator or promoter can send you an NFT using only your public key/wallet address, and the only reason they want your private key is to drain funds from your wallet.
- Don’t Do Anything Sketchy: While unlikely, there have been some instances of individuals doing “favors” for people in order to get on an NFT airdrop whitelist. This could include transferring money to and from different accounts for strangers, especially if it involves using cryptocurrency mixers. If you do this, you are likely helping someone launder money– and that’s not worth it, even if you do get a sick NFT drop in exchange.
Final Thoughts On NFT Airdrops
NFT airdrops can be a fun way for collectors to get free NFTs, as well as a great way to promote a project launch and build hype around a project. NFT airdrop distribution methods can vary– from being fully available to the general public to limited NFTs, which may only be sent to influencers or known collectors. While airdrops can be fun, they can be costly in terms of both time and effort for collectors, so they’re not always worth pursuing. As previously mentioned, try to avoid scams, and, most importantly, when it comes to NFTs, have fun!
How do NFT Airdrops Work?
If you are new to the cryptocurrency and NFT world, there are a lot of new concepts to learn, but one of the things you may have seen in forum discussions and other content is people talking about an airdropped NFT. An airdrop is when a currency or NFT developer sends user’s NFTs straight to their wallets for free. It is used as a marketing tool to raise awareness of an NFT publisher or new currency or project, and can be a nice addition to any wallet, but how do NFT airdrops work?
How to get NFT airdrop
Everyone loves something for free, so it’s not surprising that if you receive an airdrop NFT token, you pay attention. That is why it is such an effective way of promoting a new NFT project, after all, if someone sent you a present to your home, you would take the time to look up who it was and why they were doing it, right? It’s the same thing when airdropping NFT gifts, it gives people a reason to check out the project.
It is the same principle whether it’s sending NFTs to wallets for free or sending a new coin, they are all airdrops, whether an Ethereum airdrop or safe NFT gift, the goal is to get the recipient to engage with the airdroppers next project. Of course, the question is, not just knowing how to do a crypto airdrop, but how to get the free NFTS and tokens from others.
How to get a free NFT airdrop
If someone is airdropping NFT, you want to be in on it to get a free safe NFT, so does NFT airdrop work? While there are a number of ways that airdrops are created, if you want to enjoy a free airdrop NFT token then the best approach is to join, follow and share a project’s social media channels.
They normally have community chats on Discord or Telegram too, being part of that also increases your chances of safe NFT drop. When an airdrop is announced through those channels, you have a short time to register, with limited spots available to receive a free NFT or coin. There may be more than one airdrop from a project, depending on how well the NFT or coin is received, but if you are successful, you will receive an NFT directly to your wallet.
For NFTs, especially if you have not yet bought any, it is important to make sure your crypto wallet is NFT compatible before registering.
What is Smart NFT airdrop and how it works?
When a company sets out to take part in the airdrop NFT game, they are committing to giving away a set number of their NFTs to users, who are then free to do what they want with that NFT afterwards. For people wanting to know how to do a crypto airdrop it is the same process as with NFTs, the developer offers registration for their airdrop NFT token, with only as many spots allowed as NFTs they plan to give away.
During registration, applicants are asked to give their wallet address where they can receive the free NFT, and as the Ethereum airdrop for NFTs is completed, every successful applicant received an NFT into their wallet, just as if you had bought the NFT on a sales platform.
What is APENFT airdrop?
APENFT was set up with the mission of registering world-class artworks as NFTs, acting as a bridge between leading artists and blockchain, providing new revenue streams and bringing attention to the wider NFT market and NFT artists themselves.
APENFT is built on the TRON network blockchain, and the airdrop seeks to reward followers with a once per month airdrop of NFTs. To qualify for the APENFT airdrop, users must hold at least one of TRON, JST or BTT cryptocurrencies, and have an NFT enabled wallet to receive the airdrop itself.
The APENFT airdrop is slightly different in that is a reoccurring event, held on the 10 th of every month after launching in June 2021, and has attracted widespread support throughout the cryptocurrency industry. Major exchanges, including Binance and Kucoin have integrated the APENFT drop into their systems, supporting the drop through their own wallet systems.
In terms of airdropping NFT rewards, there is no program on offer to match the APENFT drop in scale right now. If you wanted to answer the question of how does NFT airdrop work, this is perhaps the best example.
Conclusion
There are minor variations, but when seeking answers for how do NFT airdrops work, it is relatively simple. Follow the project you are interested in, sign up when they launch an airdrop, receive the free NFT directly to your wallet.
Getting Started and Staying Safe With 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.
Remember to stay safe by carefully researching any airdrop you’re involved in, especially before connecting your crypto wallet to a DApp or website.
NFT airdrops are hugely popular with collectors, traders, and investors alike. Learn more about the different kinds of airdrops available and top tips on keeping yourself safe on the NFT hunt.
For any NFT collector, an airdrop is a great way to get your hands on new collections without the typical cost. 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 NFT airdrops and how you can help avoid risks on your journey.
What Is an NFT Airdrop?
An NFT airdrop is the distribution of an NFT to the public or whitelisted individuals, often for free. You may need to hold a specific token, participate in an event, or fulfill other conditions to be eligible. An airdrop is different from simply purchasing an NFT in a sale, as they typically are used for promotional purposes. A project may also airdrop current holders of their NFTs with more that can upgrade or add to their collection. Let’s explore further the different kinds of airdrops you might encounter.
Why Do Creators and Projects Run Airdrops?
By far, the most common reason is for 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.
What Are the Different Types of NFT Airdrops?
Not every NFT you come across will have the same mechanics. Let’s cover together the most common ones you’ll find:
Standard airdrop
A standard NFT airdrop allows anyone who signs up their wallet to receive the distributed NFT. However, a limited period and quantity of NFTs will likely still apply.
Bounty airdrop
A bounty airdrop acts as a reward for completing a particular task. For example, you may need to share a social media post associated with an NFT project to qualify for the airdrop. You’ll often need to complete various tasks that add you to a whitelist or even an airdrop raffle.
Exclusive airdrop
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. One example of an exclusive NFT would be one distributed to listeners of a specific podcast episode. The host may give out a code to then claim your NFT.
Raffle airdrop
If an airdrop is for a particularly rare or limited NFT , it’s not uncommon to see raffle airdrops. A group of wallets or NFT owners will be whitelisted before randomly selecting winners from the group. You could be whitelisted by participating in a competition and tasks or simply by signing up.
Holder airdrop
A holder airdrop sends NFTs to wallets that hold a specific NFT or cryptocurrency. The number of tokens you have may also determine the number of NFTs you receive. A metaverse project with its own utility token may decide to airdrop all its token holders with a brand new NFT as a reward to the community. For example, Bored Ape Yacht Club NFT holders received airdrops of 1 serum NFT for each ape they had.
How to Claim an NFT Airdrop
The exact steps for claiming an NFT in an airdrop will depend on the airdrop you’re participating in. However, some requirements are universal. First, you’ll need a crypto wallet that supports the blockchain and the type of NFT you’re supporting. As a general rule of thumb, an EVM-compatible wallet should meet most of your needs nowadays (but always double-check!).
Airdrops will, at some point, need your public wallet address to send the NFT too. You can find this easily in the UI or app you use to manage your wallet. You may even need to connect your wallet to a DApp to claim your NFT, removing the manual process of submitting your address. If this is the case, double-check the validity of the site to which you’re connecting your wallet. It’s also a good idea to use a new, empty wallet for the highest security.
If you’re receiving an NFT airdrop based upon already holding a coin, token, or NFT, you likely won't need to do anything. The creator will send it to you directly, or you’ll need to claim it via a DApp with the same steps mentioned above.
How Do I Find NFT Airdrops?
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.
Do remember that any information you find should be carefully checked and verified. Projects commonly shill with misleading information, or you may come across scammers.
How to Stay Safe Taking Part in Airdrops
When interacting with any third parties or service in the blockchain world, it pays to be cautious. Not every airdrop will be legitimate, but there are simple measures to take that can help keep you safe.
Only ever hand over your public address to a project/creator in an airdrop. You will never need to provide your wallet’s private key(s), seed phrase, or password.
If you need to connect to a website or DApp to claim your NFT, double check the project’s legitimacy and that you’re using the correct website. Know that connecting your wallet to any DApp always involves risk. You should also consider creating a brand new wallet and use it only for airdrops.
If you need to perform tasks to be eligible for the airdrop, exercise caution in the information you hand over. You may need to post on social media, which then may link your public identity with your crypto wallet. Not everyone wants this connection to be made. If you’re ever asked to transfer money or crypto to take part, it’s almost certainly a scam.
Good research is your friend. Always confirm any information you’re reading and scope out any project you’re interested in.
Avoid airdrops sent to you in private or direct messages. These will either be low-quality airdrops or outright scams.
Watch out for fraudulent copies of projects or NFT series. Scammers often duplicate or copy the marketing, website, and even NFT of another project.
Conclusion
Seeing a new, free, shiny NFT in your wallet is always a great feeling. There’s almost always an airdrop to take part in, and it can be a thrill to hunt them down. Whether the NFT will be worth anything is uncertain and part of the fun, but staying safe while searching for and interacting with any NFT airdrop is key.
For more information on NFTs, NFT airdrops, and how to purchase NFTs, refer to the following links: