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NFTs are a brand-new method for producing digital art, which can be in the form of 2D photos, music, 3D objects, game elements, or even virtual plots of land.
NFTs differ from other kinds of digital assets in that each one is a distinct item connected to the blockchain. Because of this, they are valued and are regarded as “non-fungible”.
A twenty dollar bill has the same value if you exchange it for any other twenty dollar bill. They can be combined. The Mona Lisa is an example of a rare work of art that is non-fungible since you cannot exchange it for another work of art or even a duplicate and expect it to retain the same worth.
Simply said, it wouldn’t since it isn’t the original work.
NFTs are a great method to get exposure to the market if you’re searching for a different way to invest in cryptocurrencies than buying coins like Bitcoin and Ethereum.
Can you Really Earn from Free NFTs?
NFT Giveaways are the second most popular giveaways after cryptocurrency airdrops. With crypto airdrops, airdrop hunters can make serious money and build up their portfolio for free.
With NFT giveaways, users can still make a lot of money since NFT trend is still on rise and NFTs are trading for enormous prices and free NFTs can be swapped for other major cryptocurrencies such as Bitcoin or Ethereum or even to stablecoins such as USDT, USDC, etc.
How to Find and Enter NFT Giveaways?
Finding the best NFT giveaways is easy and can take few seconds to locate them. The most popular NFT giveaways can be found mostly on Twitter, Discord or Telegram. The most used social media platform for promoting NFT giveaways is definitely Twitter and if you enter the “NFT Giveaway” keyword on the Twitter search, you will see hundreds or even thousands of NFT Giveaways.
How can you know which NFT Giveaways are worth it?
Before you participate on a NFT giveaway, it is recommended that you check the project’s website, whitepaper, tokenomics, roadmap, team, etc.
The second thing you need to check is the giveaways, are those NFT rewards already with a trading history, or brand new NFTs or not yet launched NFTs that will be minted once the NFT giveaway ends.
If the project lacks social media marketing or has poor roadmap and team, it is best not to participate in those NFT giveaways because you will lose time that can be used to locate better NFT giveaways where the rewards can be much more worthy.
What do I need to do in order to participate in a NFT giveaway?
Participating in a NFT giveaway is easy, in most cases, all you have to do is complete some easy social media tasks such as:
- Join Telegram or Discord
- Follow and retweet on Twitter
- Like Facebook page
- Subscribe on YouTube
- Subscribe on their Newsletter list
- Sign up on their website
Are NFT Giveaways Safe?
NFT airdrops are absolutely secure. There have been various rumors regarding NFTs that can steal your money that have been propagated by Twitter and Reddit users. Later, it was discovered to be a hoax.
When someone is “hacked,” it’s typically because they submitted money through a fraudulent website, sometimes known as a “phishing” website. These websites will appear to be authentic, but your money will actually go into the scammer’s pocket.
If you reveal your backup phrase to someone, that presents another opportunity for hacking. When you do something like that, hackers can quickly access your wallet and take all of your money. Always keep in mind that unless you are recovering your wallet on another device, you should never enter your recovery phrase anywhere.
In the world of NFT, follow these safety recommendations:
- Avoid clicking on shady links
- Scammers frequently purchase names that are strikingly identical to the original, but generally one letter will be changed. Always double-check the domain and all of its letters.
- Downloading pirated software is not recommended since it often contains viruses that are ready to steal your assets.
- Verify the collection twice because scammers frequently fabricate lists of real NFTs. Verify the collection’s owner a second time to be sure it belongs to the right person.
- Avoid signing arbitrary transactions. Some fraudulent websites will ask you to sign a transaction from your wallet; avoid doing this at all costs because you risk losing your tokens.
- Cryptocurrencies and NFTs are enjoyable and rewarding. But there will always be some people looking to exploit others. When using NFT tokens, more caution should be used.
Always conduct your own research, and don’t be shy about posing inquiries. Most NFT developers welcome inquiries of any form on their work.