If you're reading this, chances are you're already knee-deep in the world of NFTs. Perhaps you're a keen collector, or maybe you've created your own epic NFT collection. But amidst this ever-evolving industry, how do you ensure your NFT launch stands out?
Enter the realm of NFT allowlists. In this comprehensive guide, we'll unveil the secrets to using allowlists to engage your community, build hype and maximize the success of your NFT launch.
Get ready to embark on a journey that will take your NFT endeavors to new heights. Let’s go!
All you need to know about minting
Before diving into the world of allowlists, let's briefly explore the process of NFT minting.
Simply - minting is the process of publishing an NFT on the blockchain, and there are different methods for creators to get this done. Platforms like Bueno, Fair.xyz and Manifold offer convenient ways for creators to create and publish their NFT collections, making them available for purchase.
During the minting process, it's important to consider the gas fees associated with blockchain transactions. There are two choices to be made here: either the creators can pay the gas fees required to deploy their NFT smart contract, or users can pay the gas fees necessary to buy and add the NFT to their wallets.
As a creator, you have two options for dropping an NFT. The first involves deploying a smart contract and allowing people to mint your NFT. In this case, as the creator, you would be responsible for paying the gas fees associated with deploying the smart contract. Once the smart contract is deployed, users can then mint the NFT by paying the gas fees required to add it to their wallets.
The second option is to directly mint your NFT and sell it directly at a fixed price. In this scenario, users would need to pay the gas fees necessary to add the NFT to their wallets.
Making your launch prep a success
One more thing before we get going on allowlists: let's dive into the prep and launch of an NFT collection. This process typically involves two phases: pre-sales (with allowlists) and public sales. Each phase plays a crucial role in creating an engaging and successful NFT launch.
When it comes to public sales, it's important to understand the challenges that creators face, particularly the legendary gas war problem (seriously – you can’t escape it). Gas wars occur when multiple buyers attempt to mint or purchase NFTs at the same time, causing congestion on the blockchain and driving up gas fees. It’s totally frustrating, can lead to a chaotic experience for collectors and hinder the success of the NFT launch. But the good news – there’s a workaround for clever creators, who can take two routes before embarking on a public sale.
Because of public sales problems with gas, creators decided to gamify the launch of their NFTs with:
- Pre-sales: An NFT pre-sale, otherwise known as a pre mint, enables community members and early supporters the opportunity to mint before the public sale goes live. Pre-mints are generally executed through allowlist or a mint pass.
- Allowlists: Because of the gas war problem, creators use allowlists because they guarantee that every person on the list will be able to mint a predetermined amount of NFTs during the initial release of an NFT collection.
What’s an allowlist?
The good news is it’s pretty simple. An allowlist is like a VIP guest list for NFT launches. It's a special group of people who get exclusive access to mint a set number of NFTs before the general public. These people are typically community members, early supporters, or individuals who have met specific criteria set by the creators.
Usually, projects get creative with allowlist spots by assigning them to people who are up for a fun challenge. These challenges can be as simple as liking, sharing, and tagging friends in the comments on the project's social media post. Or it could involve bringing in the most new people to join the project's Discord. Each project has its unique way of granting allowlist spots, sometimes with puzzles, riddles, real-life challenges, and other exciting twists. It's all about keeping things fresh and surprising!
All the benefits of an allowlist
The use of an allowlist brings several significant advantages for creators and communities, elevating the NFT minting experience and taking your NFT launch to new heights.
Benefits for creators
Community engagement: allowlists become your canvas for designing unique tasks, challenges, or raffles that resonate with your community. Creators can ask people to follow these requirements in order to participate in a raffle:
- Hold a specific NFT
- Hold a specific token (or a minimum of a certain amount of token)
- Follow them on Twitter
- Interact with a Tweet
- Join a Discord
- Have a specific Discord role
- Hold a specific POAP
This fosters a sense of camaraderie, loyalty, and anticipation around your collection.
Marketing impact to the max: an allowlist transforms into a powerful marketing tool, enabling you to harness the enthusiasm of your community. By incentivizing your followers to participate and fulfil tasks, you create a buzz-worthy environment that attracts new collectors, amplifies brand awareness, and sets the stage for an eagerly awaited NFT launch.
Benefits for holders
Exclusive access: being part of an allowlist grants NFT enthusiasts the massive excitement of being at the forefront of your groundbreaking collection. They become the chosen few, savouring the excitement of acquiring coveted NFTs before the general public.
Rewards and recognition: allowlists often offer enticing perks, such as discounted pricing, exclusive editions, or even complimentary NFTs, as a token of gratitude for their unwavering support. This rewards early adopters, fostering a sense of pride and recognition within your community.
Escape the chaos: by participating in an allowlist, collectors can forget the chaos of public sales, evading high gas fees and the risk of losing out to automated bots. They can enjoy a seamless, stress-free experience, securing the tokens they want without the frenzy and uncertainty. Great stuff!
Mastering the allowlist: how to build thriving communities
Right, by now you’re becoming a bit of an expert. So let's amp things up and explore the essential steps to harness the full power of the allowlist, engage your community, maximize NFT minting success and pave the way for an extraordinary NFT launch. There are five crucial steps to follow.
1. Have a great idea: Develop an NFT collection that captivates imaginations and leaves an indelible mark on the digital art landscape. Craft art that tells a compelling story, provokes thought, or explores new frontiers of creativity.
2. Build a loyal community: Establish a great online presence by creating active social media accounts, nurturing an engaging Discord community or launching a dedicated website. You’re probably gonna want to do it all. Cultivate meaningful interactions, share behind-the-scenes insights, and build anticipation within your community. Encourage dialogue and create a sense of belonging among your followers.
3. Design your allowlist requirements: What have holders got to do to get their hands on your tokens? Craft tasks and challenges that not only engage your community but also drive participation in the minting process. Consider things such as holding a specific NFT, interacting with social media posts, joining exclusive Discord channels, or completing unique creative tasks that showcase support for your project. The good news is that Tropee can facilitate all this, helping you decide which criteria you want to specify, and even play with multi targeting, asking them to complete all the tasks you set.
4. Optimize the minting process: Streamline the minting process for your allowlist participants. Ensure that the process is smooth, intuitive, and accessible to both newcomers and experienced collectors. By simplifying the minting process, you encourage wider participation and create a more inclusive environment.
5. Harness utilities to boost engagement: Let me hear you say utilities! You know we love it! Go beyond the initial minting process by offering utility features that enhance the value of your NFTs and to make them useful. Consider creating exclusive experiences, granting access to special events, or offering unique rewards for your NFT holders. Think physical or digital merch, meet and greets - and so much more.
By providing ongoing benefits and opportunities, you foster continued engagement and loyalty within your community. Utilities FTW - AND great news - with Tropee, you can start creating utilities in just a few clicks.
All the best tools for allowlists
The best tools - like Tropee - allows utility creators to launch utility NFTs to people who meet their chosen requirements (whether that’s none, one, or multiple requirements). Here are some great ones to think about:
- Follow a specific Twitter account
- Like a Tweet
- Retweet a Tweet
- Join a Discord server
- Have a certain role in this Discord server
- Hold at least an NFT from the chosen collection
- Have held this NFT for a certain amount of time
- Have a certain amount of NFTs from this collection
- Be an original minter from this collection
- Hold a specific token
- Hold a specific token for a minimum time
- Be part of the list of wallet provided by the creator
And the best news?
Tropee allows you to do that - as well as letting you play with multi targeting, meaning that you can ask them to complete all the tasks you set.
So - with the power of the NFT allowlist in your hands, you have the ability to create an engaging community, maximize NFT minting success, and orchestrate an unforgettable NFT launch. So what are you waiting for? Embrace the potential of the NFT allowlist, and let your creativity soar.