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Buying non-fungible tokens (NFTs) as soon as they’re minted is a great way to maximize potential gains. Every trader wants to buy low and sell high, and popular NFTs are often available at the lowest prices immediately after launching. Unfortunately, the fierce competition for these newly minted tokens can drive up prices and send transaction fees through the roof.
NFT providers have alleviated these problems by creating whitelists for early supporters. In this article, you’ll learn how NFT whitelists work and how you can use them to your advantage.
An NFT Whitelist is a database of people who are guaranteed early access to mint NFTs at a certain date and time. Being on such a list helps buyers avoid exorbitant secondary prices and hefty transaction fees for popular NFTs.
NFTs launch, or “drop,” on a specific, predetermined day. If you’ve been whitelisted for that NFT, you’ll have a certain amount of time to buy a newly minted token before it’s made available to outside buyers.