Free mints have been all the rage this summer, especially on Avalanche. Why have a growing number of projects adopted free minting and will it be a craze that sticks around?
If a project free mints then a collector only has to pay a gas-fee (which is negligible on Avalanche). This offers a way for collectors to mint an NFT at little to no cost. No wonder projects have used this to try and create more hype and excitement around their projects.
Some notable recent free mints include;
Josh Thorsen’s Beenzonacid from the Teensonacid team saw their project sell out in less than 30 minutes. It consisted of 2,222 Beenz on Fantom blockchain and 3,333 on the Avalanche blockchain. Secondary sales of Beenz have now reached dizzy heights of 1000 Avax which shows the power of collectors being able to acquire for free.
It is worth noting that individuals have created derivates Beenz projects that Josh does not endorse. That being said, we can’t wait to see what Josh and the team have in store for us next.
Joe pegs first project Smol joes was a free mint that snowballed very quickly into one of the most successful NFT’s on Avalanche. Their unique storytelling style has captured collectors imagination and created a community and hype to be proud of.
Again this has also spawned the arrival of many derivatives projects, pushing Cryptofish and trader Joe to make their position clear on derivatives works.
We’d like to address derivatives and its verification on Joepegs ✅
We believe verification is not for gatekeeping but for assurance of Authenticity and Safety.
— Joepegs 🔺 | We are hiring! (@joepegsnft) July 7, 2022
In conclusion we’re not sure exactly how long the free-mint craze will last due to a market fluctuation and other myriad factors, but we would suggest getting your hands on some great free minting projects before the pendulum swings back to standard paid projects.
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