NFT collections and nft drops
What is an NFT? NFTs are one-of-a-kind digital collectibles that are authenticated using blockchain technology and purchased using cryptocurrencies, with the most popular choice being ether. Products so far have ranged from digital paintings and artworks, to the latest Kings of Leon album and sports merchandise.
If you’re looking to invest in NFTs, it’s a good idea to gain an understanding of the most significant drops that are scheduled in the near future. This knowledge will ensure you’re primed and ready to buy popular NFTs before all editions are sold – providing scope to obtain a high-value asset.
What is an NFT drop?
Put simply, an NFT drop is the release of a non-fungible token but the term ‘drop’ sheds light on the exact time and date the NFT minting will happen. NFT drops will often offer White Lists to get in early, such as how painter Mary Grant shared her LittlePainting365 2021 project with the community.
Getting in on an NFT drop the moment it happens means you are likely to get your NFT cheaper, as you’re in first before the value – hopefully – soars. NFT drops usually have purchase limits and a limit to how many NFTs will be minted.
As more artists and brands get into NFTs you begin seeing and hearing about more and more NFT drops. It can cause anxiety to think you’re missing out on something, the next Bored Ape Yacht Club or CryptoPunk collection. But this is when you can make a mistake, be taken in by a scam or end up buying an NFT you don’t like. There are some rules to follow to help…
- Know your NFT drop types
- Avoid buying NFTs you don’t like
- Do your own research
- Overpaying for an NFT
- Don’t trust affordable NFTs
- Avoid the scams
