Release Notes
I’m pleased to announce the availability of the Free Mint NFT smart contract type as a member of the Launchifi team. The bad market has hurt NFTs, as evidenced by falling floor prices and trade volumes. Free-to-mint initiatives, on the other hand, are prospering, and more NFT collections are choosing this strategy as a result. With the exception of the gas charge necessary to mint an NFT, NFT projects launch their NFTs for free under the Free Mint NFT kind of NFT minting model.
Use-Cases
The free-to-mint method of starting an NFT collection has many advantages. First off, the NFT ecosystem is open to everyone, from seasoned collectors to inquisitive beginners, due to the lower entry barrier. Secondly, NFT sales have decreased dramatically across all markets during a down market, making free-to-mint NFT collections an enticing and practical choice for NFT collectors. As a result of the strategy’s creation of a free-for-all that results in widespread enthusiasm, it also instantly generates talk and FOMO.
Successful Projects Utilizing This
The Free Mint NFT method was used in the GoblinTown NFT collection, which is a prime illustration of the potential advantages of this paradigm. On the Ethereum blockchain, there is a community called GoblinTown that contains 10,000 delightfully strange-looking Goblins. The Goblintown NFT collection gained notoriety after hosting an odd Twitter space. The NFTs immediately sold out despite having an unknown team and no discernible plan or utility at the time of launch, igniting the NFT sector and inspiring many NFT initiatives to pursue a free-to-mint strategy.
Conclusion
In conclusion, Launchifi and the NFT space as a whole will benefit greatly from the introduction of the Free Mint NFT smart contract type. It makes the NFT ecosystem more open to everyone who wants to participate and gives NFT developers a practical choice for launching their collections during a bear market. This kind of smart contract, in our opinion, will help Launchifi users by giving them another option to launch their NFTs and maybe boosting their exposure and profitability.
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