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NFT drops: Everything you need to know – Creative Bloq

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By published 16 January 22
Understand what an NFT drop is and how to avoid scams.
An NFT drop is something you’re going to see a lot of in your new life as an NFT creator and collector. Understanding what an NFT drop is will help you to make the most of a new opportunity and arm you with the knowledge of how to avoid a scam or avoid making bad decisions.
If you want to know more about what are NFTs or learn how to make and sell an NFT, we have you covered. But here we’ll share what an NFT drop is, and enable you to make more sense of this new art form.
Below you’ll find some common sense tips to finding new NFTs and advice on how to keep yourself safe when searching for new NFT art. It’s easy to get sucked into trends and hype, so reference some of our advice to keep a clear head and have fun. Ultimately, pick NFTs that appeal to use – after all, this is art.
Disclaimer: The opinions expressed in the article are for general informational purposes only and are not intended to provide specific financial or investment advice or recommendations for any individual for any investment product.  The article is only intended to provide general information and opinions about NFT marketplaces. The views reflected in this article are subject to change at any time without notice.
NFT drop - Mary Grant
Put simply, an NFT drop is the release of a non-fungible token but the term ‘drop’ sheds light on the exact time and date the NFT minting will happen. NFT drops will often offer White Lists to get in early, such as how painter Mary Grant shared her LittlePainting365 2021 project with the community.
Getting in on an NFT drop the moment it happens means you are likely to get your NFT cheaper, as you’re in first before the value – hopefully – soars. NFT drops usually have purchase limits and a limit to how many NFTs will be minted.
As more artists and brands get into NFTs you begin seeing and hearing about more and more NFT drops. It can cause anxiety to think you’re missing out on something, the next Bored Ape Yacht Club or CryptoPunk collection. But this is when you can make a mistake, be taken in by a scam or end up buying an NFT you don’t like. There are some rules to follow to help…
NFT drop
NFT drops come in many forms. The most common NFT drop enables an artist to mint an NFT collection and offer them on a first come, first serve basis. When they’re gone, they’re gone. Many creators will place limits on how many of their NFTs one wallet owner can buy.
Open Edition drops means an artist will mint as many NFTs of a collection as they can within a set time period. When the time ends the final number is how many NFTs that collection will feature.
English Auctions are often reserved for more select NFT marketplaces like Foundation and SuperRare, here the creator offers a limited 1/1 NFT, like a traditional auction.
Dutch Auctions are rare, and kind of anti-NFT. The price starts high and gets lower the longer its up for auction. In true NFT style a Dutch Auction here will sell out almost immediately, ensuring the idea is undermined.
CryptoPunks NFT
NFTs are an art form, so like any art only invest your money in something you like or catches your eye. The NFT project Art Value offered early white-lists to fans and users of NFT marketplace OpenSea, it creates an art ‘number’ from the NFT bid you submit. It’s weird and not for everyone.
While people are flipping NFTs it’s actually nice just to collect art you enjoy and hold it in your wallet or marketplace account. Try and stop thinking of NFTs as metadata and instead as art, and by purchasing an NFT you’re supporting the creator and their community. Think, if you make no money from this NFT will you still enjoy it? 
NFT drop
Just like anything you buy, look into the thing you’re spending money on. If you were to buy a new TV you’d research it, you’d look into who’s behind the TV and what the manufacturer stands for. NFTs are the same. 
Do your research: Who made the NFT? Do they align with your beliefs? What other art have they made? Do you like the art? What do other people say about them? Are they part of a community and what’s their reputation?
Asking such questions and researching into the NFT creators will help you avoid a scam and collect NFTs that have authenticity. If you can’t find good information on a collector, you may want to avoid that NFT. Or you may discover the artist just doesn’t align with your interests.
NFT drop
The rule of thumb in all investing, whether it’s in art or NFTs is to only spend what you can afford to lose. Even if you’ve done your research and you love a project, sit back and consider the NFT and if it fits your budget. 
You may love World of Women, for example, but they’re costly. So maybe hold off, research what else the artists have done, look who owns them and what they’ve created, you may find something surprising. One piece of advice is to create an investment account for your NFT purchases, this way you’ll never overspending.
The flip side of the tip above is to avoid buying an NFT just because you can afford it. As more brands and artists get into NFTs the demand will increase and the value could fall, so be wary of just buying an NFT because it’s cheap in comparison to others. 
It all comes back to the idea you should look for NFTs that you genuinely like and enjoy, and this may well mean saving up for something slightly more expensive. There could be low-cost NFTs that really catch you eye, but as ever do some research and look into who the artists are and what they stand for.
NFT drop calendars
It’s not hard to find an NFT drop, but it is harder to find one you like or should pay attention to. You hear about NFT drops on social media, from word of mouth, NFT marketplace news, and direct messages. This last one we’d avoid, like anything these days if some sounds amazing drops into your DMs it’s likely too good to be true. 
Social media is good, as it’ll be judged by a community and will offer a broad type of NFT drops from random new art projects to large brands. Most NFT marketplaces have daily drops to discover. The metaverse is also a place to find NFT drops, places such as The Sandbox and Decentraland have regular token drops.
It’s worth taking a look at some of good NFT drop calendar sites, such as NFTcalendar.io that roundup the latest drop news and projects as well as share information on who the artists are behind each drop. 
Like all scams, these will land in your DMs or email and promise the Earth. They’ll flash and shout and say you’ve been invited into a special NFT drop or you’ve been white-listed to get in early. These should be questioned.
While some of these can be authentic, it’s best to search for the NFT project yourself, do some research, and never add details of your NFT wallet or accounts from a link included in such emails. 
Don’t rush in to anything in the NFT world: do your research and invest on your terms and timescale. You’ll not only stay save and save money, but you’ll guarantee you only invest and follow NFTs you actually like and get pleasure from collecting.
Disclaimer: The opinions expressed in the article are for general informational purposes only and are not intended to provide specific financial or investment advice or recommendations for any individual for any investment product.  The article is only intended to provide general information and opinions about NFT marketplaces. The views reflected in this article are subject to change at any time without notice.
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Ian Dean is Art and Design Channel Editor at Creative Bloq. Ian is the former editor of many leading magazines, including digital art focused ImagineFX magazine and leading video game title Official PlayStation Magazine. With over 25 years’ experience in both print and online journalism, Ian has worked on many leading video game and digital art brands. With a passion for video games and art, Ian combines his loves to bring the latest news on NFTs, video game art and tech, and more to Creative Bloq. In his spare time he doodles in Corel Painter, ArtRage, and Rebelle while finding time to play Xbox and PS5.
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This Week's NFT Sales Slide, Bored Ape Market Cap Drops 21%, Floor Prices Sink Lower – Markets and Prices Bitcoin News – Bitcoin News

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by Jamie Redman
Non-fungible token (NFT) sales this week dropped 10.88% lower than the week prior. Roughly $118.02 million worth of NFTs were sold this week compared to last week’s $132.43 million. Further, the top two NFT collections with the largest market capitalizations shed significant value during the past seven days. While Bored Ape Yacht Club’s market valuation lost 21.29%, Cryptopunks’ market cap slid by 19.18%.
NFTs had a lackluster week as sales and prices have followed in sync with falling crypto asset prices. Statistics show that a large number of NFT collections have lost considerable market value during the past week. For instance, metrics show that Bored Ape Yacht Club’s (BAYC) floor value on September 13, 2022, was $114,388 and today, the floor value is around $90,026. BAYC’s market valuation on September 13 was $1.14 billion and today it’s down 21.29% to $900.25 million.
Data shows that the second most expensive NFT floor value belonged to Cryptopunks on September 13, and that’s still the case today. However, the cheapest Cryptopunk last week was around $98,941, but today you can get one for $79,960. Cryptopunks’ market cap has nosedived 19.18% lower during the past week. The same can be said for a majority of blue chip NFT collections like PROOF Collective, Mutant Ape Yacht Club (MAYC), Castaways, and Doodles.
Seven-day statistics show that the BAYC NFT collection is the compilation with this week’s top sales, as $8,603,290 in trades were recorded. BAYC sales have increased by 17.33% and the second largest NFT collection in terms of weekly sales is RENGA. The RENGA NFT collection has managed to print $5,822,323 in seven-day sales, up 121.08% since last week. Overall, however, NFT sales across 17 blockchains monitored by cryptoslam.io are down 10.88% lower than last week.
This Week’s NFT Sales Slide, Bored Ape Market Cap Drops 21%, Floor Prices Sink Lower
Ethereum (ETH) captured the top NFT sales and Solana (SOL) recorded the second largest number of digital collectible sales this week. Although, ETH-based NFT sales slipped 1.66% lower than last week with $79.05 million in seven-day sales. SOL-based NFT sales are down this week 42.11% lower than last week with $23.71 million. Both Flow and Immutable X saw an uptick in NFT sales. Flow NFT sales jumped 59.42% higher, and Immutable X NFT sales saw a significant 790.96% increase.
The top five most expensive NFTs sold this week all stemmed from the BAYC collection and include Bored Ape #441, Bored Ape #2897, Bored Ape #5733, Bored Ape #4179, and Bored Ape #1846. Bored Ape #441 sold for 351,000 DAI and Bored Ape #2897 sold for 215.38 ether or $296,404. Bored Ape #5733 was sold three days ago for 120 ether or $176,458, and Bored Ape #4179 sold for 123 ether or $176,307. Lastly, the fifth most expensive, Bored Ape #1846, was sold for 106 ether or $151,939 four days ago.
What do you think about this week’s NFT sales dropping more than 10% lower than last week’s sales? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is 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 this article.
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FASB Excludes NFTs, Some Stablecoins From Crypto Accounting Project – The Wall Street Journal

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Michael Saylor can't stop: MicroStrategy now holds 130,000 Bitcoin – Cointelegraph

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MicroStrategy bought an additional 301 BTC for $6 million at an average price of $19,851, the company’s executive chairman announced on Twitter.
MicroStrategy now owns 0.62% of all the Bitcoin (BTC) that will ever be mined. The company’s executive chairman, Michael Saylor, announced that the company bought another 301 BTC for roughly $6 million at an average price of $19,851 per BTC. 
In sum, the company is one of the planet’s largest holders of the asset, owning 130,000 BTC. Apparently, Saylor likes round numbers, buying 301 BTC to reach the 130,000 milestone. 
MicroStrategy has purchased an additional 301 bitcoins for ~$6.0 million at an average price of ~$19,851 per #bitcoin. As of 9/19/22 @MicroStrategy holds ~130,000 bitcoins acquired for ~$3.98 billion at an average price of ~$30,639 per bitcoin.https://t.co/5kYW98ij4I
Due to plunging price action, the company’s investment is down substantially in U.S. dollar terms. MicroStrategy’s entry price is roughly $30,639 per BTC, and the Securities and Exchange Commission filing states that the firm has bought 130,000 BTC at an aggregate purchase price of approximately $3.98 billion.
If MicroStrategy started stacking sats (buying Bitcoin) at today’s prices, it would have spent $2.48 billion on 130,000 BTC. Saylor is currently at a paper loss of over a billion dollars.
According to the SEC filing, the company made the purchase with “excess cash.” Saylor recently stepped down as CEO of the company to focus on buying more Bitcoin, while Washington, DC has taken aim at the billionaire in a tax evasion lawsuit.
Bitcoin enthusiasts were quick to commend Saylor’s buy. Referred to as the “Chad” or “Gigachad,” Saylor’s conviction and commitment to buying Bitcoin despite the investment being underwater has garnered both a devout following and numerous critics.
Related: Bitcoin better than physical property for regular folks, says Michael Saylor
Other large wallet addresses include that of crypto exchange Bitfinex, which holds 170,000 BTC, and a Binance reserve wallet that holds 125,000 BTC. Binance is the world’s largest crypto exchange and has several wallets holding six figures of Bitcoin. Regarding individuals, Saylor has stated that he holds Bitcoin, and FTX CEO Sam Bankman-Fried and Binance CEO Changpeng Zhao are also “hodlers” — a meme that became popular jargon for holding crypto.

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