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Although the market is experiencing a widespread liquidity crisis and falling into the doldrums, the NFT market has remained stable and accelerated at a certain level. To do this, The Free Mint has contributed significantly to the promotion of the NFT market. Why can the Free Mint do this? What helped it emerge at this time? Read the article below to get a better understanding of the Free Mint.
What is a free mint?
Free Mint is an NFT set that at first launched will allow users to cast NFT completely at no cost. However, users still have to pay a fee called the blockchain gas fee.
There are many ways to distribute the amount of NFT of a conventional project to the market. A few ways can be mentioned as follows:
- Public mint: With this method, the user will open mint on an NFT launch platform, each opening so the user will have to pay a fee depending on the specified project.
- Private/whitelist mint: Only some predetermined wallets can obtain the NFT mint. Users must meet certain requirements or do certain cases to be able to enter the whitelist. This mint may or may not be charged according to the regulations of each project.
- A combination of public and private mint: Mint prices in the public round will usually be higher than the private mint price.
- Free Mint: In this way users can open mints at no cost.
See also: What Is NFT? How To Create, Buy And Sell Binance NFT
Free Mint is not a new concept, some projects have allowed the use of the form but not received much attention from the user community. However, in the last few months, when the crypto market became gloomy and the NFT fell into saturation, the Free Mint suddenly became hot again and became a new trend.
The reason why The Free Mint is hot again
It can be said that the Free Mint is a driving force that helps maintain the current market temperature, although the volume on the NFT is still on track to drop to a record 94% in the last 6 months.
The risk of losing money is lower.
Compared to other forms of NFT, the Free Mint carries less risk of losing money. Assuming there is a Free Mint project with rug pull or scam, users will only lose gas fees for the blockchain. Compared to other projects when encountering this situation, the amount of mint that users can lose is much higher.
Higher potential profitability
Currently, it can be affirmed that the NFT market is a speculative market, buying at a low price and waiting to sell at a higher price, the profit comes from high or low spreads. Therefore, regardless of the type of NFT, participants are in the mood to wait for the project to go up and sell. Therefore, Free Mint projects are more profitable due to the very small starting costs that can be highly profitable for users.
Maximize profits
With the advantage of Free Mint projects is that the starting cost is extremely small, so you can access more projects than other NFT projects despite the same amount of capital. Thereby, the percentage of projects in your portfolio is pumped is very high.
Strategies to maximize profits with Free Mint
The way to maximize profits with Free Mint is simple. You just need to spread the investment into as many projects as possible. However, these projects need to be selective based on your investment criteria and expectations.
If you find many potential projects, for the usual mint forms you will be difficult to invest all in it. But with Free Mint, on the other hand, you will be able to spread your capital into many potential projects where the return is still higher due to the initial capital expenditure is very small.
Conclusion
Free Mint is considered the easiest and least risky way to invest, but you still need to be careful before making your investment decisions.
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