What makes Free Mint NFT become a new craze?

What is Free Mint NFT?

Free Mint NFT refers to users turning a digital work into NFT only spending gas fees. On the Ethereum network, gas fees are hovering around $7. After creating a Free Mint NFT, a player can keep it in an e-wallet or trade it. The value depends on the uniqueness, the size of the project, and luck.

The unusual feature of Free Mint NFT projects is that they do not need specific information about the founding team, do not commit to a product launch roadmap, and do not even have a particular goal.

Creating NFTs at a low cost makes many people think of crypto airdrops, but the two concepts are entirely different. Airdrop — giving cryptocurrency to users’ wallets — is considered a marketing activity of a project to attract more traders when the team prepares to list. Meanwhile, Free Mint NFT is a way for the community to come together and contribute to an entirely new project.

Why is Free Mint NFT feverish?

SportE in association with freemint projects

According to experts, there are two reasons why Free Mint NFT has become a new craze. The first is due to the general context of the cryptocurrency market. While the bad news is pouring in, the market is constantly going down, and users want to find less risky investment channels, and Free Mint NFT is what they need.

The second reason is profitability. For example, if the Free Mint NFT projects are identified as scams, users lose gas fees and earn thousands of dollars.

Compared to investing a few hundred or thousands of dollars to join the trend of playing to earn or running to earn, the gas for Free Mint NFT is considered a good number. So small, almost anyone can participate.

Risks of Free Mint NFT?

According to NFT Now, Free Mint NFT projects bring joy and excitement, but this trend is still heavily speculative, and the people behind the project can profit from each new issue. Although NFT collections often bloom quickly, especially with Free Mint NFT, the life of projects is shorter. Slow-moving investors are often the ones who suffer.

Free Mint NFT is not new. Right from the first days of our founding, we did not charge a fee to create NFT. Unlike the current Free Mint NFT wave, we did not charge a fee. Currently, projects are concerned about the artistic value and verification of the creator.

Free Mint NFT is also flourishing in Vietnam, but it can become dangerous if users quickly put images of famous characters and politicians on the NFT floor. It can cause market chaos and cause authorities and communities to have an unfriendly view of this technology.

From a positive perspective, Free Mint NFT has many similarities that made the coin meme wave storm the market. In addition, it can help spread NFT technology to a broader range of users.

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