If you’ve heard of NFTs you’ve probably seen the term ‘NFT Drop’ here and there. But what is an NFT drop and what you should know about it? We’ll go into it in this article.
What is an NFT drop?
An NFT drop is the release of a non-fungible token project. A drop refers to the exact date, time, and generally the minting price of the NFT. Many NFT drops have purchase limits that apply to the number of NFTs you are able to mint in one transaction. Purchasing at drop time is a great way to save money as well.
What you should know about NFT drop
Affordable NFTs ≠ Good investment
It’s tempting to buy things that are cheap, which is completely fine. But when it comes to investments like NFTs, it is best that you do some research about the project before buying to make sure you get something out of it in the end.
Of course, collectability is also the nature of most NFTs on the market right now. So if you truly like something, you are free to add them to your collection. For anyone that intends to make investing decision, remember to only use the money that you can afford to lose.
Be careful of NFT drop scams
NFT popularity is a double-edged sword, the attention it receives is the perfect opportunity for scammers to make a quick buck by taking advantage of people’s naivety. Getting into NFTs you will almost guarantee to receive all kinds of emails, DMs, and even phone calls to tell you about some “amazing” NFT drops.
Once again, do your research and ask questions before buying anything. Do not rush to purchase. If something seems off, try your best to verify. Last but not least, DO NOT give out any personal information.
Getting the latest NFT drops
If you have read the previous section then you can see that getting news about NFT drops is not hard, perhaps even too easy. NFT drops are everywhere on the internet – social media, NFT marketplaces, news websites, and even DMs.
Platforms like Facebook and Twitter have a great selection of accounts you can follow, with users commenting dynamically about their thoughts and opinions of what’s hot and fresh in the NFT community. If you don’t know where to start, perhaps Decentraland and The Sandbox are good introductions.