The Challenges of NFT Whitelisting
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This post was originally published on Hackernoon
Exclusive up-and-coming NFT launches have become something of a “boys club”; there’s no guarantee you’ll get whitelisted, even after you’ve:
- Followed their socials
- Shared their content
- DM’d your username
We know this, and we, too, are frustrated by this.
Enter Spark.
Spark is going to change the game for far too many reasons to list in this simple post, so we’re going to focus on how we overcome the challenges of NFT whitelisting first, but before that…
Spark is a combination of platform and token that allows creators, communities, and investors to come together in a fun, engaging on-chain experience that includes gamification, metaverse integration and more.
We understand that the crypto community, whilst enthusiastic, has been through a lot and this now includes macro elements such as regulation and mainstream interest and attention that hasn’t always been positive.
So when there are micro, project-specific issues that so often arise such as:
- Lack of communication
- Lottery-based participation
- First-come-first-served engagement
- Mismanagement
- Rug-pulls
- Blown funding
and more…
We get a bit upset by such problems. Many legitimate projects have suffered from users being unable to mind their NFTs. We’re building Spark to address the inaccessibility crippling promising projects that are having to try harder to stand out from the crowd and compete with other big launches.
Whitelisting is neither engaging nor interactive, and this harms the community even at launch: the most exciting time for many projects.
Spark improves upon the existing process in a number of ways:
Trustless — thanks to on-chain prediction events Spark platform has no reliance on third-party whitelisting solutions
First-come-first-served — instead of the same wealthy influencers or other VIPs taking up space, Spark can foster high-quality and engaged communities for promising projects in an accessible and in a fair way.
Gas fees — high gas fees, especially on chains like Ethereum, can put off otherwise perfect project participants and leave a reliance on whales. Spark’s rewards are allocated algorithmically and therefore gasless, which is better for everyone.
Discovery & quantity — rather than having to spend time seeking NFT projects that potential investors may not even get whitelisted for, Spark can aid the discovery of multiple exciting projects that are expected to be successful launches.
More rewards — rather than just relying on the value to increase, Spark users will receive three rewards on top of this: Staking yields, Prediction rewards & NFT allocations & airdrops. Furthermore, those holding an increased amount of tokens benefit from higher rewards.
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