The Rising Popularity of Whitelist NFTs
Many NFT projects have whitelists that will give early supporters and community members time to mint their tokens. This helps prevent “gas wars” and ensures passionate fans get their NFTs. The best way to get on a project’s whitelist is to find one before it launches. This requires following NFT influencers and getting active in their community through Discord groups.
Eliminate Spam Accounts
What is whitelist NFT? Like an exclusive guest list for a popular party, Whitelist NFTs allow community members to feel special and gain VIP perks. These perks aren’t just tokens or free games. However, they incentivize people to promote and help the project succeed. A whitelist allows an NFT project to allow its most devoted followers to mint their tokens before the public mint, which prevents gas wars and ensures a successful launch.
It also incentivizes those users to promote the project on their social media or forums and get more people involved, which is a win for everybody. Moreover, it eliminates the sense of competition among buyers; it’s much more fair for all to receive their NFTs at a later time window. Think of it as a presale for a popular movie or sports event without the lines, hype, and overcrowding. Of course, it’s not always easy to make it onto a whitelist.
Most NFT projects will explain their whitelisting process on their website or Discord server, including the criteria for joining it. Some will require a certain amount of social media interaction to build hype or a minimum number of referrals, while others may ask for coding or marketing skills.
If you want to join an NFT whitelist, follow the project on Twitter or check out its Discord server for announcements (or ask fellow community members how to join). The best place for this is in the shill chat room, typically designated by the NFT team for such purposes.
Prevent Gas Wars
Many NFT projects require their community to sign up for their whitelist. Whitelists help prevent ‘gas wars‘ when thousands simultaneously try to mint the same NFT. Transaction fees are outrageously high during these gas wars and often take hours to complete. This happens because the Ethereum network is designed to process only a small volume of transactions simultaneously.
This is why NFT whitelists are so popular. Whitelists let pre-approved users mint at a set window, mitigating the transaction demand and avoiding high gas fees. Getting on an NFT whitelist can be hard to do. Every project has its process for choosing who gets whitelisted, and most require that you stay active in the community by logging into their Discord server regularly, sharing or retweeting their social media posts, participating in giveaways, and more.
Some projects even have art contests for their upcoming NFTs, where those who create the best fan art get whitelisted. Another way to get on an NFT whitelist is to join the community early. NFTs with a lot of hype around them will see a lot of activity in their Discord servers, Telegram channels, and Twitter accounts, with some of the most active users being offered a spot on the whitelist.
Reward Early Supporters
Many projects offer whitelist spots to people who support them on social media or other ways. This includes creating fan art, attending community events, joining a discord server, or tweeting or sharing information as instructed. These activities help the project gain visibility and support, which is valuable for anyone trying to build a career in crypto. In some cases, the process of getting whitelisted can be complicated.
The team wants to ensure that all buyers are authentic fans or early supporters. To do this, they may require that prospective buyers enter a captcha or set up two-step authentication. This is meant to prevent bot accounts from snatching up NFTs for resale. This also helps prevent a problem called “gas wars.” Gas Wars are when thousands of eager buyers try to mint an NFT as soon as it drops.
This can cause traffic on the blockchain and skyrocket transaction fees for everyone involved. To avoid this, some projects will stagger their drop so that whitelisted users can log on at different times and mint their NFTs throughout the week. This removes the sense of competition and makes it fairer for all buyers. It can also drive interest in a project as more consumers want to get their hands on it, which is a win for the creators.
Increase Investing Opportunities
Like getting a spot on the exclusive guest list at a party, becoming whitelisted for an NFT is all about the perks. You’re guaranteed access to Mint once the project launches. This is especially important in the NFT space, where good projects attract consumers who rush to mint when released. Unless you’re on the whitelist, you could miss out on a new project.
This is why NFT creators host whitelists for their communities. It helps them identify their most loyal followers and rewards them with early access to the tokens they’ve worked so hard for. It’s also a great way to keep consumers engaged in the weeks and months leading up to a mint, crucial for maintaining momentum and interest in the project.
Depending on the project, being whitelisted can come with a few requirements. For example, some NFTs require that you follow them on Twitter and join their Discord server. This is to help them filter out spam accounts and people who aren’t genuine fans.
It also helps the NFT project build a community and keep its members up to date on key developments. Other NFTs require that you attend live events, contribute to the community, or promote them on social media. Pursuing a position on a whitelist is a lot of work, but it’s worth the investment if you’re a severe NFT investor.