Difference Between a Classic NFT Drop and an NFT Giveaway

It’s not a big secret. Everyone seizes a once-in-a-lifetime opportunity – they create their own untrustworthy token project and ultimately make their NFT publicly available for purchase by people. NFT drops and NFT giveaways are what you see every day, many times a day. Therefore, it is important to understand all the different aspects surrounding the drop.

What Is an NFT Drop?

What Is an NFT Drop?

One of the first questions we received was “What is an NFT drop?” By actively working on social media, we were able to pinpoint exactly what NFT drops are.

NFT Drop is a non-fungible token project release. NFT drop refers to the exact date, time, and generally minting price of the NFT. Many NFT drops have a purchase limit that applies to the number of NFTs that can be created in a single transaction. Buying at the time of drop is also a great way to save money.

NFT drops are plentiful. As new brands and businesses start using this technology, they will incur even more losses.

Things To Avoid When Buying NFT Drops

Searching for the next best non-fungible token project is very exciting, but there are some things to avoid when going all-in to NFT Drop.

  • Avoid buying NFTs that you don’t really like
  • Avoid buying an NFT drop without doing a proper research
  • Avoid becoming a victim of fraud
  • Avoid drops that are not included in your budget
  • Avoid buying drops just because they are affordable

We understand that buying a new drop can be very attractive. The fear of overlooking is enough to get you to throw away your entire salary, but believe us — it’s not the way. There are right and wrong ways to buy NFT drops.

Avoid NFTs that are Way off your Budget

Avoid NFTs that are Way off your Budget

You may want to invest money in a project. Especially if you do your own thorough research about NFTs and believe it is worth the risk. That said, we don’t recommend investing more money than your budget allows.

In fact, don’t invest more money than you can afford to lose. The success of the NFT brand is not guaranteed, so it is wise to work on the project with the idea that you can lose all your money. If you are not comfortable losing it, don’t buy it.

It is advisable to consider setting up an additional savings account, especially for NFT investments, so that you know you can afford to lose money in the worst case scenarios.

What are NFT Giveaways?

Project owners often distribute tokens for free to encourage new users to join their NFT project. These are called NFT giveaways (or airdrops).

Freebies are a way to recognize newly created NFTs by allowing participants to deposit tokens in their wallets. NFT giveaways improve token visibility and community adoption. NFT drops can be a way to bring new users to join your platform.

In the long run, this is a mutually beneficial situation. It’s basically a mutually beneficial situation. NFT giveaways/airdrops are generally time-limited. Many giveaways have been around for years, including Uniswap UNI Token Airdrop.

Many NFT projects offer free NFT gifts via Twitter, Reddit, and Discord to promote their collections. This will allow the project to quickly build a community of NFT collectors, which may earn free NFTs in the future.

There is a problem with this method. NFT giveaways are fake and can be used to gain followers. To make matters worse, scammers are active in the field of cryptocurrencies. They often offer free NFTs. You must exercise absolute discretion when making NFT revenue online, especially when considering free NFTs

Types of NFT Giveaways

There are various NFT giveaways but the most popular ones are Twitter, Discord, or Telegram giveaways where participants can become eligible by simply following the NFT project on Twitter, Telegram, Discord, YouTube, etc.

NFT Giveaways can be completed within a minute and the social media tasks can be done within two clicks thanks to the Skyrush social media API.

If you were wondering where to find NFT giveaways then our best pick would be to visit Twitter since it’s the easiest way to locate a giveaway. You can search for the “NFT Giveaway” hashtag and a hundreds of NFT giveaways will be displayed.

Some other popular NFT giveaways can be found on:

  • Telegram
  • Discord
  • Play to Earn games

Where to Seek Real NFT Giveaways

Where to Seek Real NFT Giveaways

Thanks to Skyrush’s token escrow, NFT giveaway participants can rest assure that the NFT giveaway is real and that they have real chance of winning the price by using the blockchain technology to escrow the eligibility of valid participants to claim the NFT rewards.

On Skyrush, users can choose in which NFT giveaway they want to participate. They will be able to select from various NFT project that have a chance of succeeding in the NFT space.

Final Thoughts

While on NFT drops, you have to enter in the minting process in order to buy the NFT. This significantly increases the risk of losing your NFT value if the NFT project doesn’t succeed in the long run. Basically, your investment will become worthless over time.

While NFT giveaways are hard to get but you don’t invest anything else except your time and your social media likes and comments. By following the NFT project on Telegram, Discord or Twitter, you are becoming eligible to win a cool NFT price reward that can be handsomely rewarded in the near future if the project succeeds, if not, then you have other NFT giveaways to participate.