NFTs, or Non-Fungible Tokens, are known as unique digital assets stored on a decentralized digital ledger called the blockchain, which records transactions and ownership information. NFTs are distinguishable because each one is original and contains digital signatures that prove ownership and the value of NFTs varies depending on factors such as rarity and demand.
These digital assets can be used for a wide range of purposes, including virtual goods in video games, digital collectibles, event tickets, and more.
Let’s take a closer look at NFTs, which were once widely discussed and closely followed by everyone. In short and clear terms, owning an NFT makes you unique and demonstrates that you are the only one with that particular NFT. Therefore, NFTs are considered to be unique.
What makes NFTs valuable?
Non-Fungible Tokens (NFTs) have taken the world by storm, with their value and popularity surging in recent years.
These digital assets have also captured the attention of artists, collectors, investors, and even celebrities. But what exactly makes NFTs so valuable?
One of the primary drivers of NFT value is their scarcity, which makes them highly desirable for collectors, as each NFT represents a unique digital asset that cannot be exchanged on a one-to-one basis with another NFT. Moreover, owning a sought-after NFT can confer social status within certain online communities, and the desire to be recognized as a collector or supporter of a particular artist or project can drive demand and contribute to the value of NFTs.
But the most logical reason for pushing NFTs to such popularity is the highly profitable sales.
Undoubtedly, many people became familiar with NFTs through rumors of profits. During 2021, when NFTs were at their most popular, it seemed inevitable and effortless for everyone to earn thousands of ETH. NFTs that were bought for small amounts quickly increased in value by 10-20 times within a very short time, making them a highly discussed trend at the time.
The surge in demand led to a speculative market, where people were willing to pay exorbitant prices for NFTs, hoping to turn a quick profit as they believed the value would continue to increase.
Many high-profile celebrities, artists, and influencers joined the NFT bandwagon, either by creating or endorsing these digital assets. This further fueled the hype and attracted more people to the space, creating a FOMO (Fear of Missing Out) effect.
As the market matures and stabilizes, the days of fast and easy money-making through NFTs are behind us. Many people are starting to approach NFTs with more caution and understanding. However, NFTs are not completely over. There are still NFTs that are experiencing steady demand and increasing prices, but in order for an NFT to survive and succeed, it needs to provide value to its community and develop utility.
How to get a whitelist? What are the easiest ways?
To acquire a whitelist, there are a few steps you need to follow. First, choose a blockchain platform that supports NFTs, with Ethereum being the most popular. Then, create a digital wallet to store your NFTs and purchase an NFT on a marketplace like OpenSea. After purchasing the NFT, it will be transferred to your wallet, where you can view it, transfer it to other wallets, or sell it on the marketplace.
However, instead of the common method of buying NFTs, you can participate in an NFT project’s pre-sale to acquire an NFT and generate quick profits. A whitelist is a list of approved individuals or entities who are allowed to participate in a specific NFT sale or auction. This helps the creators of the NFT control who can buy it and increase its value.
- To secure a whitelist spot, users must adhere to the project’s prerequisites, which can include taking part in social media campaigns or contributing to the community in various other ways. Once they are whitelisted, users can join to mint* the NFT and have some privileges.
- To acquire a whitelist spot and gain early access to an NFT, users need to be active on Twitter and Discord. These are the primary channels for engaging with the NFT community.
Especially during volatile market periods, users need to be active in the Discord of the collection owners to win a pre-sale/mint of highly popular NFT collections they want to own.
- By actively participating in the community through Discord, you can not only gain early access to the collection but also enjoy any additional benefits it may offer. At times, you can secure a whitelist spot by engaging in games or following the directives given by the administrators. In other instances, exclusive previews of the NFT series crafted by the collection creators are shared, and you also submit fan art as a means to secure the whitelist position.
In summary, it is clear that NFTs have gained significant interest and popularity due to their unique structures and high-profit potential. As the market develops and the days of easy money-making are behind us, NFTs still hold value and potential for those who approach them with care and understanding.
To get involved with NFTs, users need to have knowledge about blockchain platforms, digital wallets, and NFT marketplaces. Additionally, obtaining a whitelist through active community participation on platforms such as Twitter and Discord can provide early access and exclusive advantages to an NFT collection. Ultimately, providing value to the community is the key to success in the NFT market. We always recommend doing your own research.
You can reach many topics that you are curious about and want to research in the library category.
You can also refer to this content to learn from which platforms you can buy NFTs and the terms needed to master NFTs.