They say timing is everything, but does it apply to NFTs? It may seem that getting NFTs early is the better strategy, but there are advantages to waiting and watching, too. JoeCortez weighs the pros and cons:
With the increasing popularity of NFTs, there’s no shortage of projects launching daily, each promising climbing prices and community benefits for early adopters. Does it make sense to get into an NFT at launch or should investors wait to see the project’s trajectory?The process of minting a new NFT
For artists, developers and community managers, opening an NFT for minting is the culmination of their work. With most projects, the minting process happens in three different waves: the first mint for whitelisted community members, a small presale group and the open public sale.In many situations, the first people to get access to a new NFT project are the.
Once whitelist members get the first chance to mint a new NFT, projects may open up to their presale list. Like they do with the whitelist round, the NFT developers will set the requirements to get on the presale list, but the requirements are often much less stringent than they are for the whitelist.
After both rounds are complete, minting will open up to the public, allowing anyone to create a new NFT. While you can still mint pieces with rare attributes, the likelihood of creating one with the most desired aspect may diminish based on how many were distributed through the private sale rounds and the total number of NFTs available.To encourage more NFT sales or increase excitement about a project, some NFT producers may decide topieces, granting free tokens to certain wallet holders.
Airdrops can be an easy way to earn free NFTs and lower your total cost per token, but with an inherent risk. For example, if a new project mints tokens at 0.05 ETH each and offers one free airdrop for minting five at the same time, you would get six for a total cost of 0.25 ETH. Although you would effectively save around $25 per token, you would have to spend over $650 to get the airdrop .
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