

Early access, lower gas fees and reduced risk of spam are some of the benefits of having your wallet address whitelisted.
NFT Whitelist
NFT whitelisting, in the simplest of terms, is the process of getting a crypto wallet address pre-approved for minting a drop.
Crypto is a game of early adoption. The earlier you’re in, the greater the chance of seeing significant value over the lifecycle of the project. Think about the people who got into Bitcoin below $1,000. The same rings true for NFT projects. So how do you get in early? NFT whitelisting. It’s the process by which your wallet address is pre-approved to gain exclusive access to an NFT drop before it is made available to the general public.
Remember that NFTs could be anything. A piece of digital art, a plot of land in your favorite metaverse, or even a collectible item in play-to-earn games. As demand grows for NFTs, projects are finding creative ways to reward their community supporters. So what are the benefits of whitelisting?
Access at the Presale Level
What’s the best way to reward early adopters? By giving them early access to a project at pre-public market prices. While there is no standardized path for whitelisting, the simplest form can be holding a certain amount of that project’s token at a certain point in time (hence the early adoption). Other methods include contests and giveaways through community social channels.
Helps Mitigate Spam
Whitelisting an NFT drop can ensure that mass account registrations are negated. It also prevents spammers from flooding the system and spiking gass fees thereby affecting the smaller investors.
Avoids Gas Fee Hikes
Gas fees are a crypto user's worst enemy. So when many crypto users are trying to mint from the same NFT project, there is an immediate race to mint thereby charging up fees leading to ‘gas wars’. Early access avoids that.
It’s important to note here that having early access to an NFT project does not guarantee a profit. Do your own research, maybe participate in the community via the social channels to get a sense of the support level for the project. A red flag is when conversation centers around the floor price growing and less so over utility and support for the project. Finally, never click on a link without double checking it, even if it comes from your favorite project. Binance offers a solid breakdown for newer crypto users here that could help guide you along the way.

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Related News


Digital Asset Infrastructure Provider Taurus Partners with Polygon: Revolutionizing Decentralized Finance?

This partnership aims to enhance Taurus' capabilities by incorporating staking and decentralized finance (DeFi) support into its offerings.
Taurus Embrace Polygon Blockchain
Taurus, a leading provider of digital asset infrastructure backed by Credit Suisse and Deutsche Bank, has partnered with Polygon to provide staking and decentralized finance (DeFi) support to its capabilities.
Enabling banks and brands to issue and custody any tokenized asset using @0xpolygon@taurus_hq, the European digital asset infrastructure leader is now fully integrated and automated #onPolygon 😎
— Polygon (Labs) (@0xPolygonLabs) June 2, 2023
More: https://t.co/U2tT0azjkG pic.twitter.com/urFCzXN8eg
Taurus offers a range of services, including custody, tokenization, and trading of digital assets. Taurus recently secured $65 million in funding through a round led by Credit Suisse and Deutsche Bank in February, highlighting the growing interest from traditional financial institutions in blockchain technology and tokenization.
Tokenization, the process of representing an asset as tradable units in a digital format, is increasingly drawing the attention of mainstream financial institutions.
Taurus emphasized that most Tier 1 financial institutions are entering the tokenization space and seeking a blockchain-agnostic and token-agnostic infrastructure. Additionally, Bank of America published a report last April stating that the tokenized gold market had surpassed $1 billion the previous month.
Polygon aims to evolve into an "internet of blockchains," connecting various Ethereum-compatible networks while continuing to enhance transaction efficiency and speed.
As blockchain technology adoption accelerates, collaborations between established major institutions and Polygon continues. In addition to the recent collaboration Polygon has also partnered with Franklin Templeton, Google Cloud, and Deutsche Telekom in recent months.
Polygon ($MATIC) is trading at $0.9, up 0.4% in 24 hours, according to CoinMarketCap.
What is Polygon:
Polygon is a “sidechain” scaling solution that runs alongside the Ethereum blockchain — allowing for speedy transactions and low fees. MATIC is the network’s native cryptocurrency, which is used for fees, staking, and more. The effectiveness of Polygon as an alternative to Ethereum has seen existing projects such as Aave and Curve adopting its chain.
For more about Polygon:
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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