What Is An NFT Drop? — SCONE NFT Sports Marketplace
Whatever they say, NFTs are here to stay. More and more people are buying into this new medium of verifying ownership and are making fortunes off strings of code that validate the uniqueness of a digital asset.
It’s no big secret. Everyone is jumping at the opportunity of a lifetime, an NFT drop is something you see every day, multiple times a day, so it’s important to understand all the different aspects surrounding drops.
What Is An NFT Drop?
Simply put, an NFT drop is the release of an NFT collection.
An NFT drop is the release of a non-fungible token project. A drop refers to the exact date, time, and generally the minting price of the NFT.
Getting in on an NFT drop the moment it happens means you are likely to get your NFT cheaper, as you’re in first before the value — hopefully — soars. NFT drops usually have purchase limits and a limit to how many NFTs will be minted.
An NFT drop follows the same logic as any other drop in the “real” market, so you should expect people to act the same. Those with a keen eye for a good asset will queue up on the drop’s eve with their mouse pointers hovering frantically over the refresh button. So if you expect to ride this bandwagon and make some profits — keep in mind that the more hyped-up and promising an NFT collection is, the more competition you’ll face at the time it drops.
Also, the above doesn’t mean that any NFT drop ever is valuable. Right now, the market is replete with already minted NFTs and upcoming drop announcements, so you’ll always need to do your own research before buying in an artist or a collection.
THE SPORTCASH ONE NFT MARKETPLACE OPENING IN MARCH !
With the NFT DROP Commemorative Mainnet Launch
Monetize your sports passion via NFTs
