BoostBeyond Hype: Understanding the Impact of Airdrops on NFT Marketplace Performance
IntroductionThe NFT marketplace is evolving. Over the past year, OpenSea has seen increasing pressure from new competitors eating away at its market share. LooksRare, X2Y2, Sudoswap, and Blur have decreased OpenSea's NFT Volume market share from 99% to 50-30% depending on the week.Market Share for NFT Marketplaces by WeekWhile OpenSea may have been one of the darling companies of the web3 era, there is one thing that it's lacking that all of its competitors have: a token. This left ...
BoostAirdrop Design | Past, Present, & Future
When considering the future of airdrops, it's easy to feel optimistic about their potential for aligning users of crypto networks. It’s just as valid to express skepticism based on the current state of the instrument. While it's clear that more experimentation is necessary in order to properly harness their power, the required overhead and lack of tooling to execute airdrops are prohibitive. But what are they, anyway?What is an Airdrop?Simply put, airdrops distribute tokens to past,...
BoostIntroducing Quest Protocol Rewards
Deploy, refer, and complete quests for cryptoParticipation lies at the heart of the crypto ecosystem. It’s the collective effort of countless participants worldwide that ensures the functionality, security, and growth of decentralized protocols. But beyond it being a mechanism for sustaining networks, participation embodies the very ethos of crypto and why it exists - to increase economic opportunities for every individual. Earlier this year we launched Quest Protocol, making it easy for anyo...
The onchain distribution network of Boost Protocol. Target, acquire and engage users with token incentives to drive growth.
BoostBeyond Hype: Understanding the Impact of Airdrops on NFT Marketplace Performance
IntroductionThe NFT marketplace is evolving. Over the past year, OpenSea has seen increasing pressure from new competitors eating away at its market share. LooksRare, X2Y2, Sudoswap, and Blur have decreased OpenSea's NFT Volume market share from 99% to 50-30% depending on the week.Market Share for NFT Marketplaces by WeekWhile OpenSea may have been one of the darling companies of the web3 era, there is one thing that it's lacking that all of its competitors have: a token. This left ...
BoostAirdrop Design | Past, Present, & Future
When considering the future of airdrops, it's easy to feel optimistic about their potential for aligning users of crypto networks. It’s just as valid to express skepticism based on the current state of the instrument. While it's clear that more experimentation is necessary in order to properly harness their power, the required overhead and lack of tooling to execute airdrops are prohibitive. But what are they, anyway?What is an Airdrop?Simply put, airdrops distribute tokens to past,...
BoostIntroducing Quest Protocol Rewards
Deploy, refer, and complete quests for cryptoParticipation lies at the heart of the crypto ecosystem. It’s the collective effort of countless participants worldwide that ensures the functionality, security, and growth of decentralized protocols. But beyond it being a mechanism for sustaining networks, participation embodies the very ethos of crypto and why it exists - to increase economic opportunities for every individual. Earlier this year we launched Quest Protocol, making it easy for anyo...
The onchain distribution network of Boost Protocol. Target, acquire and engage users with token incentives to drive growth.
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Today, we’re teaching you how to participate in one of the most fun + important areas of crypto culture: purchasing a non-fungible token (NFT) on OpenSea.
Get rewarded for researching and buying an NFT. Sounds like a win-win.
ETH to purchase the NFT and cover gas fees
MetaMask wallet (or another web3 wallet)
This guide assumes you understand how to use a MetaMask wallet. If not, you should watch this video, set up your MetaMask wallet, and add funds to your wallet before moving forward.
OpenSea is a peer-to-peer marketplace for NFTs – showcasing everything from digital collectibles and art to virtual land and utility tokens.
Think of OpenSea as the eBay of NFTs, where you can bid on an NFT auction, mint and sell your own NFT, or explore the wild west of non-fungibles. OpenSea is where most NFT collectors go to discover and invest in almost any project.
Go to OpenSea and choose which NFT you want to buy. It’s smart to do some research on what NFT you want to buy beforehand, and perhaps we will write a more in-depth NFT investing guide in the future.
For the purposes of this tutorial, simply choose an NFT on OpenSea that you love and would be happy holding on to for the long term (>1 year).
Pro Tips:
You may need to pay additional gas fees if it’s your first time purchasing an NFT on OpenSea.
Toggle the filter Buy Now to buy instantly and avoid bidding on an auction and (unless you find something you want to make an offer on).
Some NFTs are on auction while others can be bought right away. For this tutorial, we will buy an NFT that is ready for immediate purchase.
Click Buy Now and agree to OpenSea’s Terms of Service.
Once you check the box, and click Checkout, you will be prompted to pay ETH gas fees for your NFT (tip: buy NFTs on weekend nights and for more affordable gas prices and use this gas tracker). Set the gas fee, and confirm your NFT purchase.
Now you wait for the transaction to confirm! Depending how much gas you used, it could take 30 minutes or longer for the payment to confirm.
Once confirmed, your NFT will show up in your wallet and displayed on your OpenSea profile for the world to see.
Congratulations on buying an NFT on OpenSea!
Please let me (@JonahBaer) know if this tutorial was helpful or if you have any questions on Twitter or the RabbitHole Discord.
Today, we’re teaching you how to participate in one of the most fun + important areas of crypto culture: purchasing a non-fungible token (NFT) on OpenSea.
Get rewarded for researching and buying an NFT. Sounds like a win-win.
ETH to purchase the NFT and cover gas fees
MetaMask wallet (or another web3 wallet)
This guide assumes you understand how to use a MetaMask wallet. If not, you should watch this video, set up your MetaMask wallet, and add funds to your wallet before moving forward.
OpenSea is a peer-to-peer marketplace for NFTs – showcasing everything from digital collectibles and art to virtual land and utility tokens.
Think of OpenSea as the eBay of NFTs, where you can bid on an NFT auction, mint and sell your own NFT, or explore the wild west of non-fungibles. OpenSea is where most NFT collectors go to discover and invest in almost any project.
Go to OpenSea and choose which NFT you want to buy. It’s smart to do some research on what NFT you want to buy beforehand, and perhaps we will write a more in-depth NFT investing guide in the future.
For the purposes of this tutorial, simply choose an NFT on OpenSea that you love and would be happy holding on to for the long term (>1 year).
Pro Tips:
You may need to pay additional gas fees if it’s your first time purchasing an NFT on OpenSea.
Toggle the filter Buy Now to buy instantly and avoid bidding on an auction and (unless you find something you want to make an offer on).
Some NFTs are on auction while others can be bought right away. For this tutorial, we will buy an NFT that is ready for immediate purchase.
Click Buy Now and agree to OpenSea’s Terms of Service.
Once you check the box, and click Checkout, you will be prompted to pay ETH gas fees for your NFT (tip: buy NFTs on weekend nights and for more affordable gas prices and use this gas tracker). Set the gas fee, and confirm your NFT purchase.
Now you wait for the transaction to confirm! Depending how much gas you used, it could take 30 minutes or longer for the payment to confirm.
Once confirmed, your NFT will show up in your wallet and displayed on your OpenSea profile for the world to see.
Congratulations on buying an NFT on OpenSea!
Please let me (@JonahBaer) know if this tutorial was helpful or if you have any questions on Twitter or the RabbitHole Discord.
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