Is a Free NFT Giveaway Legit?
A free NFT giveaway rewards users who take part in the promotion. Free NFT is the new meta in 2022. Everyone wants to reward their community with exciting prizes, whether they are whales, influencers, or brand-new NFT projects.
How to get a free NFT giveaway
The project determines it. Some giveaways are only available to NFT holders, whereas others are intended to attract new community members. In either case, they both seek the same thing: exposure. There are two types of giveaways you can join:
- Retweet and like contests
The rules for these contests are simple and clear. Typically, the project team will ask participants to like and retweet a specific post. Tagging others in the comments section or following other accounts is also sometimes required.
Some organisers reward multiple winners with NFTs, cryptocurrencies, or even cash. Twitter influencers, projects, and even marketplaces regularly hold such contests. You can find them on Twitter by searching "NFT giveaway”.
- Fan art contests
Nowadays, many digital asset initiatives and influencers hold fan art contests. Participants must create original works of art to win NFTs and other exciting prizes. The artwork submissions must frequently draw inspiration from the organisers' projects.
For example, Deadfellaz's famous "Draw the Undead" derivative art contest required participants to create artwork based on their NFTs. Nonetheless, the team allowed non-holders to participate by drawing inspiration from two of the collectables.
Of course, these competitions require time and effort. They are, however, an excellent way for an artist to gain exposure.
Who is handing out free NFTs?
Giveaways can be found everywhere these days, from Discord to Twitter and even Reddit. But who is organising these competitions, and where can you find them?
Two types of creators organise them. They are:
- NFT projects giveaways
Giveaways are an effective strategy for growing one's audience, and projects are aware of this. Most new projects run giveaways on Twitter or Discord to gain more followers. Some giveaway their first-ever NFT collectables, while others distribute money, cryptocurrencies, or other resources.
- NFT influencer giveaways
Most NFT influencers are as concerned with their community as their projects. Indeed, their free NFTs could be surprisingly inventive!
GaryVee, for example, offered a free VeeFriends for every 12 copies of his book sold during the first 24 hours. This clever campaign made his book "Twelve and a Half" a best-seller, while buyers received free collectables.
However, you should double-check the influencer's account before participating in a giveaway.
Free NFT drops - Legitimate?
"It depends" is the brief response. The digital market is still new to many people compared to other markets, and scammers are aware of this. Unfortunately, thousands of digital wallets or accounts have been compromised by hackers.
One of their tricks, for example, is to host free NFT giveaways that requires you to connect your wallet to a specific platform. This should raise a red flag because legitimate influencers or projects do not request personal information or a digital wallet connection in exchange for a giveaway.
Second, keep an eye out for the giveaway prize. If, as the old cliche goes, something seems too good to be true, then guess what? It probably is. Naturally, some initiatives and influencers can be kind, but few would provide large cash prizes.
Popular NFT giveaways are a fantastic way to grow a community while rewarding current members. You can enter free social media Twitter contests that require liking and retweeting posts or compete in art competitions to show your talent.
NFT projects and influencers frequently host giveaways, but double-check their accounts before participating!
Author: Priya Kumari
Priya is a passionate content writer and the co-founder of Finendorse. She is an enthusiastic crypto investor and has a huge interest in the upcoming digitisation age.