Over the past year, NFTs (non-fungible tokens) have blown up. These exciting digital assets have changed the way we view and consume artwork and music and have impacted numerous other markets. But some NFTs are ridiculously expensive, some selling for millions of dollars.
So, if you don’t have that kind of money, how can you get your hands on some free NFTs tokens? Keep reading, and we’ll tell you.
What are NFTs?
NFT stands for non-fungible token. But what is an NFT? It’s a cryptographic token that’s kept on a blockchain like Ethereum or Solana. Typically, you’ll see these tokens represented as works of art, but you might also find them as music, memes, domains, and more.
A fungible item is an item that has the same value as something else. It can be exchanged, divided, or sold. For example, if I give you a twenty-dollar bill, you can give me a twenty-dollar bill of the same value. It’s a like-for-like trade.
With non-fungible items, no two things are exactly the same. For instance, Starry Night by Van Gogh is not the same as Sunflowers by Van Gogh. These items are non-divisible and are not of equal value.
When boiled down to the basics, an NFT is a single, non-fungible item. These items can be physical or digital, but their uniqueness is verified through the blockchain on which it resides.
How to Get Free NFTs
There are several ways to get your hands on some of those sweet, sweet NFTs. Here are some methods you might consider as you look at adding NFTs to your portfolio.
When an artist or platform is promoting a new NFT collection, they may announce that they’re doing a free NFT giveaway. Often these occur on social media platforms like Discord, Telegram, or Twitter. So if you want to claim free NFTs, you might have to pay close attention to what’s going on with each channel.
When these artists make their NFTs free via a giveaway, they’re establishing a following of NFT collectors. The hope is that these free NFTs will eventually become valuable in the future, turning something free into a payday for a collector.
Of course, free NFT giveaways aren’t without their problems. For starters, some NFT giveaways never actually give anything away. They draw in followers and never deliver on their promise to provide free NFTs. Even worse, there are some giveaways who are actively scamming NFT collectors.
By offering free NFTs, they’re baiting their victims and will then turn around and take their digital assets with no potential for recovery. This is a big reason why you must be absolutely sure that an NFT giveaway is legitimate before participating.
Another way to get free NFTs is through airdrops. While these are typically associated with digital coins and tokens, some NFT projects perform airdrops as a way of rewarding holders of their other projects. Typically you have to be a qualifying holder to receive a free airdrop from a project.
A well-known NFT airdrop occurred with holders of the Bored Ape Yacht Club. Those who owned a BAYC NFT were given an exclusive airdrop in the form of a Mutant Ape Yach Club, Yuga Lab’s next project. In early 2022, these free airdrops were estimated at roughly $50,000.
With free airdrops, projects are hoping for quick adoption, which helps lead to growth as it builds interest and excitement around its offerings. Plus, if you have the money to purchase a popular NFT, it could mean you’ll get your hands on free NFT airdrops in the future – something investors and collectors alike look forward to.
Create your own
An easy way to get free NFTs is to make your own. Some NFT marketplaces and sites will let you create and mint a few NFTs. Once you’ve minted one, you can find buyers for your creations or look for other creators and offer to exchange one of yours for one of theirs.
Polygon (MATIC) has a layer-2 feature that lets you mint, transfer or purchase the ownership of NFTs on its network for free. It’s a great place to start learning how to make NFTs in a safe environment. While this might seem like a simple strategy, it takes a little more work than other methods on this list.
For starters, you have to create and mint your NFTs. You’ll also have to do some digging to find someone who wants to buy or trade for your NFT. This process is time-consuming, but if you don’t have the money to purchase an NFT, it’s a great way to get started.
There are plenty of blockchain games out there labeled as “Play-to-Earn”. These are games that give users rewards for completing specific in-game tasks. Usually, this is successfully finishing a quest or defeating an opponent.
These types of decentralized games often require you to purchase an NFT to get started but typically give players the ability to earn many more NFTs during gameplay. While the upfront cost might be steep for games like The Sandbox or Axie Infinity, players believe it’s worth it to earn free NFTs while navigating a digital world.
Even though it’s a relatively new idea, NFT breeding is the idea that two valuable digital assets – like NFTs – can be used to create more digital assets. Popular games like Axie Infinity or CryptoKitties are well known for their NFT breeding features.
With CryptoKitties, players use two NFTs, which represent their kitties, to breed a third NFT, which is then listed on the Ethereum blockchain. However, it’s not as simple as it sounds. A few steps are required.
If you’ve purchased your CryptoKitties, you can then reproduce and breed baby CryptoKitties. However, the CryptoKitties being used must have the same owner, or another user will have to offer to sire them. So long as the two CryptoKitties aren’t related to one another, users can make one the matron and the other the sire, thereby creating a new NFT CryptoKitty.
Axie Infinity also has a breeding option. You can use two or more “Axies” to create a third Axie NFT. However, Axies can only breed up to seven times, so be sure to keep track of how many offspring your Axie has produced.
Finding an NFT Wallet
Once you’re able to get your hands on free NFTs, you’ll need a place to store them. However, it’s important to note that an NFT wallet doesn’t actually hold the NFT, as they are stored on the blockchain. Your wallet tells the blockchain that you’re the owner of the NFT, similar to how your bank card tells the ATM you’re the owner of the account.
There are plenty of wallets to choose from. However, some only support specific blockchains. MetaMask, for example, supports Ethereum, while Phantom is a Solana wallet. You might have to do a little research to find the wallet that’s right for you and your NFTs.
Tips and Reminders
Remember, if you’re buying, selling, or trading NFTs, always do your due diligence and be sure it’s legitimate. The same goes for participating in NFT giveaways and airdrops. Scammers are out there waiting for you, and they’re more than ready to take your money, which they’ll do if you aren’t paying attention.
Also, keep in mind that not all NFTs are “free”. For example, if you want to get additional NFTs through an airdrop, you may have to spend some money on the project’s previous offerings. Along those same lines, to create free NFTs on many platforms, you’ll be responsible for the gas fees. So, if you’re using a platform with Ethereum NFTs, be ready to shell out your hard-earned money.
Where to make NFTs for free?
The good news is that there are plenty of NFT marketplaces out there that will let you mint your NFTs for free. Of course, you’re responsible for gas fees on some sites, so be sure you know exactly what you’re expected to pay before you get started.
The most common sites that let you create free NFTs are Rarible, Forge, OpenSea, SuperRare, Enjin, Proton mint, and the Binance NFT marketplace.
Can you make NFTs for free?
There are plenty of places you can go to make NFTs for free. One such place is Rarible. Head over to the website and connect your wallet. Most people use MetaMask, but there are other options available. Once you’ve connected your wallet, click the “Create” option.
Provide Rarible with the information about your NFT, then select the “Free Minting” option. Choose “Create Item,” then sign the authorizations for your NFT wallet. That’s it! You’ve now created a free NFT.
How much does the average NFT sell for?
The average selling price of an NFT is going to change drastically depending on the market. For example, with our current bear market, the average price for an NFT is roughly $2,000. Compare that to the market in January 2022, and you’ll see that NFTs were going for about $6,000 on average at that time.
Are NFTs a bubble?
The answer to this question depends on your definition of ‘bubble.’ Many analysts point to the shrinking market for NFTs as confirmation that the NFT bubble is soon going to burst. While it is true that the market for NFTs is getting smaller the longer we suffer through this bear market, there are also signs that more and more projects are launching that make use of NFTs in unique and creative ways.
Get Those Freebies!
As you can see, there are several methods available for getting free NFTs. While some require upfront purchases or paying for gas fees, there are a few ways where NFTs are 100% free. Of course, always remember to make sure the NFT you’re considering is legitimate, so you aren’t a victim of a scam.
Or you can always make your own NFTs. Find a site that lets you mint free NFTs, create your own, then find someone to buy them or trade for them. It’s always a little more meaningful when you’ve put some time and effort into your creation.