What Is an NFT Drop?
NFT drops are an exciting opportunity to snag digital artwork, but how do they work?
NFTs are changing the way many art enthusiasts engage with digital media, but like any new technology, they need some explaining. So, how do NFTs make it to market, can you get NFT drops free, and what is an NFT drop? Let’s take a look at what all of that means, and how it will affect your NFT-collecting experience.
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What Is an NFT Drop?
An NFT drop is the time and date that a new batch of NFTs will go on sale, typically as part of a larger collection. There’s no real limit to the number of NFTs that can be featured in a collection or a drop, though some NFTs will be considered valuable specifically because of their scarcity. Additionally, NFTs can increase in price after the initial release, so it can be advantageous to buy them right as they drop. It’s a similar concept to other merchandise drops, and there’s even some overlap between the two. For instance, Nike’s NFT initiative has seen NFT versions of shoes launching alongside new sneakers, functioning as a sort of digital receipt.
Given the nature of NFT drops, collectors need to keep their ears to the ground if they want to expand their collection. NFT calendars have emerged to make this a lot easier, sending automated alerts whenever a significant drop is coming up. NFTCalendar is one of the most popular options for keeping track of new drops, showing daily releases, upcoming releases, and allowing NFT creators to list their own events. If you’re after a specific collection, it’s worth turning on notifications for their social media accounts to stay up to date on NFT drop announcements.
What Is an NFT Pack?
Sometimes, NFT artists will release their creations in NFT packs. These packs will contain multiple NFTs within them, usually randomized. The concept is essentially the same as trading cards, where the buyer will get a small selection of cards with varying levels of rarity. Some of these collections may even be NFT sports cards, which have become some of the most prominent NFTs hosted on the blockchain.
NFT packs will likely be a defining feature of NFT-based video games in the future. Their structure is a good fit for distributing randomized item drops, which players would be able to use across different experiences in the metaverse — at least conceptually.
New and Upcoming NFT Drops and Projects
Whether you’re looking to grow your collection or start fresh, these are the new and upcoming NFT drops worth checking out. However, do keep in mind that NFTs have become a part of just about every hobby in some capacity, so these just scratch the surface.
GameStop is getting into NFTs in partnership with Immutable X. So far, the collection has mostly entailed digital artwork, though NFTs seem to be a large part of the retailer's future strategy. This makes sense, as a large number of game developers are currently investing in blockchain games, which GameStop could conceivably sell NFTs for on its own marketplace.
Most major sports franchises have their own NFTs at this point, including the NFL, MLB, and NBA. NHL has been late to the party, but that’s set to change. The NHL is partnering with Sweet to create a line of NFTs that will feature players, plays, and more.
NFTs for major events are nothing new, but Coachella has created a particularly impressive line. While some NFTs function as tickets for events, Coachella is taking it to the next level. While the festival has its share of digital art, it’s also selling NFTs that grant lifelong access to the event and a fully stocked compound in 2022.