In mid-2022,
So what exactly is free mint, how does it work, and how can you benefit from it?
Free mint, in a nutshell
Free mint projects release limited amounts of NFT at the stage of launch. These tokens are then distributed for free between users who have brought maximum benefits to the project: e.g., by being active community members, commenting on social network accounts, creating content about the project, inviting friends to Discord and other spaces, and so on.
This way, the project can
All free mint-related activities can be managed through external platforms, Discord bots, et cetera. If we talk about specific tools, one of the most popular is
Monetizing free mint
The free mint monetization strategy involves two stages.
The first is aimed at
The second stage often comes after the free mint part, after the project has built a large community, has pulled together a marketing budget from the secondary market volume, and a confirmed product or project development direction.
When these requirements are met, a paid collection is launched, usually with the goal of raising around $500k to a million dollars.
If everything goes according to the plan, then the project has enough resources to launch the full-fledged development of the platform or an app.
Exploring successful free mint cases
Some of the
In contrast to the above projects,
To sum up: free mint is a useful option to consider in 2023
Free mint mechanics provides a simple and effective solution for enhancing marketing budgets during the initial stages of NFT development, granting projects that use it a substantial competitive edge. It is particularly advantageous for NFT projects, as it helps to generate interest and excitement without requiring a significant investment upfront.
Free mint can also help build a community and secure funds more effectively than traditional marketing tactics or fundraising methods. By leveraging the power of free mint, creators can incentivize people to become early supporters and advocates for their projects.
All in all, I advise any emerging NFT project to consider implementing a free mint strategy in 2023.