NFT and the whitelist issuance

11 Feb 2023

The integration of NFT and DeFi has been quite mature, and the combination of NFT and chain games has also attract general public attention. Then there have been cases of integration of NFT with the Metaverse and Web3.0, and related project parties are also changing their tricks to attract investors.

After a round of NFT bubble, teams with a large number of fans outside the circle entered the market. In addition to luxury brands, all kinds of large and medium-sized brands also set their sights on NFTs, and have turned to NFTs. Their own users issued NFT pictures, and then nft market react positive, causing the price of pictures to rise, resulting in a continuous increase in the trading volume of OpenSea.

In addition to the opportunities for traditional brand owners, recently we have seen that artists have begun to exert their efforts, and a large number of creators have begun to pay attention to the NFT market. However, unlike the previous distribution methods, the current NFT distribution has formed a near-fixed format, that is the whitelist.

In the past, there was no whitelist restriction on NFTs, and the project parties directly listed NFT on the official website or websites like OpenSea for sale, and after the sale was over, it was enough. In this case, it becomes more and more difficult for ordinary investors to acquire NFT, so the whitelist approach started to appear.


As the name suggests, the whitelist is the opposite of the blacklist, which is similar to an admission pass. Generally, only those who are on the whitelist are eligible to avail this opportunity. When created the NFT, those who are whitelisted users are eligible to buy or mint NFT at the original price, others who are not eligible can only receive it from a market like Opensea at a high price. The whitelist limits the way for everyone to acquire NFT to a certain extent, which makes investment different.

This way of issuing NFT by white list is called "Initial Whitelisting Issuance" (IWO). Whitelisting is actually an issuance method for specific groups, and we can also call it NFT issuance. The primary market, and OpenSea can be regarded as the secondary market, so a complete NFT issuance model was born.

The biggest advantage of whitelist issuance is that it deliberately creates scarcity, which is similar to the real estate purchase restriction. When there is no purchase restriction, people are not willing to buy, and the price increase is relatively small, but once the purchase restriction, it creates a certain scarcity, so that people who can buy and those who can't buy can be distinguished.

Whitelist acquisition process

Only those who hold the whitelist will spend money when they minting the NFT. The whitelist is a scarce commodity. Therefore, if participants want to obtain the white list, they will must participate in a series of marketing activities organized by the project party, including but not limited to the following:

1. Invite new members to join the group

2. Retweet the project party's tweet or article

3. Keep talking in the discord group of the project party to increase activity

4. Send video to promote the project

5. Enter the project team as a volunteer

Of course, there are more ways. The main purpose is to make the NFT project known to as many people in the market as possible, so as to maintaining the NFT popularity. That is to say, it is much easier to control the new NFT project, which will make the selling pressure not so great, which can also create an illusion of market prosperity.

Finally, NFTs with poor liquidity and the method of small-scale issuance + project party control can give the project a certain valuation level to a certain extent, but the final application scenarios of NFT are still lacking, so if you encounter a bear market, it is likely that the NFT in your hand will be difficult to sell in time. Therefore, for investors , it is also necessary to guard against the valuation trap caused by the low liquidity of NFT.

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