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NFT Rant/Whitelist Critique

Isaiah is currently attending Illinois state university where he is obtaining a degree in Business Administration.

I am big on investing in NfT's, I really believe that they are a great way to not only make profit in the short term but in the long term as well. I mean just look at projects like the bored ape collection, the floor price for one of the NFT's is 83.99 Eth. Just to put that into perspective a single Eth coin costs $2,944. Many celebrities are invested in these NFT's and show off the fact that they are by making it their profile picture of various social media platforms. This gets me very excited for NFT's especially because of the fact that there are new refreshing projects all the time and many platforms to invest on. However if you know anything about investing in them then you know the most profit comes when you mint the NFT and then sell it on the secondary market. To be able to do this in some cases you need to get whitelisted and the process to this is over the top. I mean it's like some of the people who set the guideline for what you need to do in order for this to happen have absolutely no life at all. I mean it would take hours upon hours to be able to get whitelisted in some of these projects and don't get me wrong if you do manage the reward will be there in profit but the overall process is something I feel needs to change to keep the current stream of people we have happy and actively spending.

The process of getting whitelisted in the NFT space is way too long and vigorous, I mean the requirements for some of these projects would have you on the computer for 7+ hours a day no question. This starts to make people ask the question of is all this worth it, just to be able to mint for an initial price. The true answer is it depends, it is honestly hit or miss on if all the time you spent trying to set yourself apart from the rest of the community and guarantee yourself a chance to get for initial price. When you do this and everything goes smoothly with the project and the secondary return is great then of course it was worth it, but sadly this isn't always the case so what about when this doesn't happen and the whole grind wasn't worth it. One thing that all teams and projects need to do is switch how they give out whitelist spots. It doesn't matter if it raffle form or whatever, but the other process they have right now is draining.

This content is accurate and true to the best of the author’s knowledge and is not meant to substitute for formal and individualized advice from a qualified professional.

© 2022 Isaiah Christopher Bond

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