Finding NFT projects worth investing in can be hard with a ton of risk. But what if I told you there is a low-risk opportunity for investing in NFTs. This is where airdrops come in.

Airdrops are free rewards provided by NFT projects to raise awareness. Sounds too good to be true right? well, I will be answering that and much more. So without further ado, let’s dive right in.

What are NFT airdrops?

Essentially, NFT airdrops are free rewards. They are given to users to spread awareness of a new project. NFTs are transferred straight to the Community member’s wallets provided they meet the requirements. These requirements are usually the completion of simple promotional activities. Overall, airdrops insure fair distribution and incentivize community participation. The reason being is that usually, the more active a community is, the greater the price appreciation. This benefits NFT holders and the creators.

How to get NFT airdrops?

Social media interaction – NFT projects often set up bounty tasks, if you complete these tasks then you often win a chance of receiving an NFT airdrop. These tasks might be sharing tweets, signing up for newsletters, or following social media accounts. It is important you research the exact requirements for each project.

Community interaction – as they say, sharing is caring. Platforms reward supportive community members. So, help fellow community members, you can do this through Discord discussion on Twitter interactions. Maybe you provide artwork or new ideas to inspire the platform. Ultimately, if you are active in the community you may be rewarded.

Holding previous collections – often times you get an NFT airdrop simply by holding a previous NFT. In the case of Bored Ape Yacht Club, holders were airdropped a mutated version of the original. Ultimately, projects do this to reward loyal community members.

Find the project early – in order to get airdrops, you need to be at the right place at the right time. Twitter is the number 1 place to find projects. Once you have found the project, follow them, and then you can often join Discord to chat with fellow community members. Discord is also where most of the key announcements take place. It is important to be early as in some cases it is first come first serve.

Airdrop scams

It is important to be wary when researching NFT projects. Phishing scams are the main issue in this space. Scammers will set up fake airdrop websites to lure unsuspected NFT holders. They work by imitating an official airdrop website. They will then request users to connect their wallets, once they connect and authorize the transaction their wallet gets drained.

So how do I avoid scams? Firstly, it is important to only interact with official Twitter accounts and discord chats. Check for verification certificates if possible, if there are a large number of bots this could also be a red flag. Secondly, research the team. Pick projects with a strong team and proven track record. Avoid anonymous teams at all costs as they can scam users with little repercussions.

Lastly, if you want top-level security from scams then I recommend you use a hardware wallet. With a hardware wallet, you have a separate device known as a hardware wallet which is used to authorize transactions. Stealing from a hardware wallet is extremely difficult and often requires physical possession or access to the private keys. The hardware wallet I recommend is the ledger nano X. You can check out my review by clicking here.

Conclusion

So to answer the question, are airdrops too good to be true? I would say no. As you can see, NFT airdrops are an excellent way to get free rewards. As long as you provide value to the ecosystem by reaching out to the community and performing basic promotions you will likely receive one.

Like most things research is key. Find out what the requirements are and do this as soon as possible. Moreover, researching projects will help you avoid a large number of scams in this space. Always verify the information and use a hardware wallet if possible. But overall, if you want a shot at getting a hot new NFT without breaking the bank, then NFT airdrops may be the choice for you. I hope you found this article useful and thanks for reading.

Do you want to know how to get guaranteed access to a new NFT mint? Check out my article 5 Ways to get Whitelisted for NFTs.