If you’re one of the hundreds of people who Google search “what does NFT drop mean,” then you’re in the right place.
With the attention that NFTs (Non-Fungible Tokens) get nowadays, you’ll surely want to know when the next blue-chip NFT will launch. NFT drops are when an NFT collection reveals its launch date and time.
This article provides all you need to know about NFT drops, what they mean, and how to find them.
What does NFT drop mean?
An NFT drop is the exact date and time that a particular NFT collection will be available to the public for minting. The NFT artist or team informs the public (just the internet, actually) about their new NFT project and provides a date and time from when that NFT would be available for public minting.
Have you ever queued up in the blazing sun, waiting for your favorite musician’s latest album to drop? Well, you can also view NFT drops in the same vein.
Music artists usually inform their fans whenever they have a new album in the works and also provide them with a date during which they would ‘drop’ this album. An NFT drop works the same way.
How to prepare for NFT drops
Although NFT drops do not require anyone to queue up in the sun, that doesn’t make it any less demanding than a music album drop. The uniqueness of most NFTs dictates that there might just be that one NFT in the whole universe. So, if you miss the opportunity to snag it for yourself, you might never get another.
As such, individuals that are interested in NFTs would benefit from learning how to prepare for these events appropriately.
Research the Project
It’s always important to learn all you can about an NFT before its drop date to avoid FOMO. One way of getting accurate information regarding an upcoming NFT drop is from social media handles on Twitter and their Discord channel.
You can find upcoming NFT drops simply by searching “mint date,” “you’re early,” or “wen mint” on Twitter. You could also try hashtags like #freemint or #nftcommunity. There are other search combinations and hashtags to try, but these are the most common.
Once you find your desired project, you can start researching it. Check if the founders are doxxed; their discord is lively and not full of people posting LFG or GIB WHITELIST all day. It’ll probably be a scam.
Get a Crypto wallet
Once you’re satisfied with your research, you can prepare for the drop by getting a crypto wallet. A crypto wallet is necessary for anyone who desires to own cryptocurrency. It can also be seen as software that stores the private keys or passwords that allow an individual to access their cryptocurrency.
If you want to deal in NFT, you need a wallet that supports non-fungible tokens. Examples of such wallets include Coinbase Wallet, Trust Wallet, Phantom, and the well-known Metamask.
Check out how to set up a Metamask Wallet.
Fund the wallet
The next step is to buy cryptocurrency, determined by the blockchain the NFT is minting on. Ethereum is the first and most popular NFT blockchain. However, there are other popular blockchains where you’ll find NFT collections, like Solana.
So, if you’re buying a Solana NFT project, you can purchase some SOL. If it’s an Ethereum project, you can get some Ether. Other blockchains to buy NFTs include Crypto.com, Polygon, Cardano, etc.
Try to secure a whitelist spot.
Most NFT projects organize whitelist competitions and giveaways. The whitelist is a list of people who have access to mint the NFT first when it drops. This set of people also gets to enjoy lower mint fees or even free mints, sometimes.
You can participate in these contests to secure a spot. You can check out our guide on how to get whitelisted to get started. However, note that not all projects do this, and some might opt for public sale.
Make sure your internet is fast.
I cannot overemphasize this point enough. Many people have clicked the mint button during an NFT drop, only to have a slow internet connection or a high latency become their undoing.
So, if your current network is not fast or dependable, ensure you get a suitable replacement in time. For an NFT drop, you would need all the advantages you can get. As a rule of thumb, anything above 100Mbps is considered a suitable internet speed.
Things to keep in mind when buying NFT drops
Not many people would be able to resist owning an NFT. Not with all the hype on social media by influencers and celebrities. However, there are things to keep in mind when buying NFT drops.
Always research the NFT first.
Most NFTs are digital art; on the internet, a screenshot is all you need to copy it. Of course, that’s not right, but NFTs are a new resource and don’t have many laws protecting them. So, you can’t take someone to court for using your NFT as their PFP.
You should always DYOR an NFT drop before purchasing or minting. You should ensure you’re buying an NFT from its original artist. You should also make sure the artist is reputable.
Never budget more than you are willing to lose.
Just like cryptocurrency, most people purchase NFTs so that they can sell them when their value appreciates. However, this isn’t always the case. Sometimes the value of an NFT falls, and it’s unavoidable.
So, it’s a little like gambling; never spend more than you are willing to lose. This is to avoid any heartbreaks, or the usual “NFTs are a big Ponzi scheme” lines.
Accept that not all NFTs are valuable.
So, no matter how much it was hyped, some NFTs would fail to increase in value for no apparent reason. NFTs are valuable for several reasons, and understanding them can help you decide the end outcome of any project.
Accept that some NFTs might not be for you.
Some NFTs out there are unique, like just one in existence. You should accept that there is every chance someone else gets to own that NFT. This prevents you from being caught up in the moment and spending more than you planned to at an NFT auction.
Where can I find big upcoming NFT drops?
I mentioned earlier that purchasing an NFT from a trustworthy source is best. This is because it minimizes your chances of falling into many common NFT scams. Some of the places you can visit for authentic NFT drops include:
NFT Marketplaces
This includes marketplaces such as:
- Rarible
- OpenSea
- SuperRare
- Larva Labs
- Nifty Gateway
Social Media Platforms
This includes:
- YouTube
Instant Messaging platforms
- Discord
- Telegram
Dedicated NFT drop calendars
Frequently Asked Questions
How do I know what NFT to buy?
You can know the right NFT to purchase by reading the market conditions and forecasting which NFT would be worth investing in. Like a high-risk gambling game, deciding to buy an NFT can be seen as taking a risk and hoping that the NFT increases in value.
Can I create my own NFT?
You can create your own NFT. All you need is a digital asset like an image, a song, book, video, or even a tweet. Then you look for an NFT marketplace to mint, or you can use a blockchain explore like Etherscan.
Are NFT drops free?
Most NFT drops are not free; the artists release their NFTs for people to buy them after all. However, that doesn’t mean that there aren’t some that are free. You just need to know where to find them. You can search for free mint NFT drops on Twitter. Just ensure to DYOR and use a burner wallet to mint.
