What Is the Meaning of an NFT Drop?

NFT is a blockchain token representing real-world assets like art, collectibles, music, pictures, in-game items, real estate, and videos. You can buy and sell them on secondary markets using digital currencies, and they are generally programmed with the same software as cryptocurrencies.

The meaning of an NFT is Non-Fungible Token. Non-fungible here implies that it's unique and cannot be replaced with anything else. For instance, Dogecoin is fungible since you can exchange one for another Dogecoin and get precisely the same thing.

However, a one-of-a-kind trading card is non-fungible as you can't replace it with something else and get the same thing.

What Is an NFT Drop?

An NFT drop refers to the public release of an NFT project. In this case, a drop describes the precise date and time of release and the minting price of the token. Most NFT drops have buy limits to control the number of NFTs buyers can mint in a transaction.

Buying at drop time is like buying crypto at a bear market/discounted prices. NFT drops are becoming more common as sports personalities, brands, and businesses discover the benefits of blockchain technology.

How Do You Find NFT Drops?

Twitter is the best platform where you can find NFT drops early. Many artists and influencers market their offerings on Twitter since it's the most sought-after networking and advertising social media channel. Typically, the bigger the fan base of the project creators, the higher the project's credibility and perceived value.

You can still find NFT drops on other social media channels like Instagram, Facebook, YouTube, Reddit, and Clubhouse. Besides, you can also find NFT drops early through instant messaging (Discord), word of mouth (from friends and personalities), Metaverse (all the virtual worlds, like Decentraland), secondary marketplaces (OpenSea, SuperRare, etc.), and crypto podcasts.

How to Prepare for an NFT Drop?

1. Creating a powerful story

Any project launch requires founders to tell a compelling story to build credibility and hype.

2. Choosing a blockchain and secondary marketplace wisely

Every NFT marketplace provides various benefits and has unique users. Therefore, before releasing your NFT drops, consider the available options, identify where your potential customers are, and prioritize the project interests over your own.

3. Create a smart contract for your NFT

A smart contract is a self-governing code for executing sale agreements that runs on a blockchain network.

4. Build a strong community army

A strong community will help hype your NFT drop and excite potential investors.

5. Make sure your website is prepared to receive high traffic

Strengthen your website to avoid crashes during release.

6. Create long-lasting value and innovate constantly

If you want people to continue to promote your offerings, you must create lasting value and innovate constantly. As you give your investors value, others will see your NFT as a good investment and develop a deep interest in participating in your project, increasing the value of your NFTs.