Alexis Kestler
Hey there! Have you heard about NFT whitelists and how they can give you early access to hot new NFT drops? As an NFT enthusiast myself, I totally get the FOMO of missing out on a red-hot new collection. But getting on the right whitelist can unlock huge profits.
In this beginner‘s guide, I‘ll explain everything you need to know about NFT whitelists. You‘ll learn what they are, why projects use them, and most importantly – how to get on one!
What Exactly is an NFT Whitelist?
A whitelist gives select users early access to mint an NFT collection before the general public can.
It‘s like having access to a presale or VIP section – you get first dibs! This means whitelist members can mint NFTs at lower prices, before hype and demand drive the valuations up.
According to data from Chainalysis, the top 5% of traders on OpenSea made over 80% of the profits by flipping whitelisted NFTs in 2021.
The profits were enormous last year. But as the NFT market grows, we can expect even more opportunities in 2022.
Why Do Projects Use Whitelists?
NFT projects rely on whitelists for several key reasons:
-
Rewarding early supporters – By giving priority access to their earliest followers, projects create community loyalty and buzz.
-
Avoiding gas wars – Releasing an entire collection at once causes congestion, spikes gas fees on Ethereum. Whitelists help meter out the release.
-
Building scarcity – With whitelist members securing much of the collection early, it leaves less supply for the public mint. This pumps demand.
-
Fair distribution – Whitelists fight against bots and whales gobbling up supply by limiting how many each person can mint.
If you want to get in on a hot project early, joining the whitelist is the #1 way to secure the rarest NFTs before they 10x or 100x in price!
How Can You Get on an NFT Whitelist?
Now you know why whitelists are so powerful for profiting from NFTs. So how do you actually get on one?
Here are the main strategies and tips:
1. Get in the Discord early
Most major projects are organized around Discord communities. The creators will post info about whitelist requirements and giveaways there. Jump in the server ASAP when you find a promising new project!
2. Engage with the community
Don‘t just join and lurk. Actually chat with people, ask questions, share memes. Active community members are more likely to be whitelisted.
3. Promote the project
Share tweets, retweet promos from the official account, shill the project creatively on other servers. Getting more visibility for the launch helps your whitelist chances.
4. Hold the founder‘s previous NFTs
Some projects reserve whitelist spots for holders of their past collections. So it can help to ape into promising creators early!
5. Watch for giveaways
Projects often raffle off whitelist spots through gamified contests like invite competitions, trivia, art contests, etc. Entering as many as you can is worth the small time investment.
6. Buy merch and make purchases
Spending money and supporting the founders is another easy way to boost your chances of being whitelisted.
7. Don‘t get scammed!
Sadly there are scammers out there phishing for wallet details under the guise of "whitelist giveaways." Never trust random DMs! Verify anything directly with the official project sources.
Key Takeaways
-
An NFT whitelist gives early access to mint from a collection before the public release
-
Whitelists help you secure rare NFTs and flip them for enormous profits
-
Getting whitelisted requires actively engaging with and promoting the community
-
But take precautions to avoid phishing scams from fake giveaways
Ready to Get Whitelisted and Profit?
Now you‘ve got an insider perspective on how NFT whitelists work!
Joining the right one provides a massive advantage to mint rare NFTs and sell them for mouth-watering profits early on.
It does take some effort – but the rewards make it so worthwhile. I hope these tips help you on your journey to getting whitelisted in a promising new collection!
Let me know if you have any other questions. And best of luck in your NFT investing!
