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Absolutely everything You Need to Know about Starting a Free NFT Addiction...ehhh Collection

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Written by   21
4 months ago

With my latest article, I think I beat the Free NFT End game on level Noob. And as I spend way too much time playing so this article should come with a warning! 

Okay now I covered my ass from any claims by you, the future addict, we can continue.

Now for the people that really read all my Free NFT articles, you can stop here, drop a like and go do something more useful like hunting NFTs or zipping up your fly.

That scared away at least 3 people, now for the 2 that are left, I will use this article to explain all the necessities related to the Free NFT Collecting game. Explaining all steps and referring to original articles for further jokes and details.

Now here is what you can expect:

  • Setting up your WAX account

  • Finding Free NFTs

  • Selling & Making Money from Free NFTs

  • RAM & CPU Mysteries & Problems solved  

I will only go into WAX Accounts as these are currently the most common so the best way to start your addiction.

Step 1 - Setting up your WAX Account

 1. Go to https://wax.atomichub.io/

 2.  Choose WAX Mainnet  (most common)

 3. Click Login

 4. Select WAX Cloud Wallet

 5 Click Login Again

 6. Sign Up using your email

You can find all the steps including screenshots in this article:

A Noob Guide on how to start a FREE NFT collection & Other useful free...

Note: If you are using my fav. Brave Browser you might run into the Loading Transaction Error. You can just turn off the BRAVE shields to solve this. If you need more details you can find those here:

No FREE NFT´s anymore as ATOMICHUB was Stuck in "Loading Transaction"...

Step 2 - Finding Free NFTs

Okay, we did the work now let the hunt begin! As mentioned be careful once you start hunting.....you´ll never stop.

We can divide hunters into 2 groups the lazy hunter who joined for the booze and getting away from his soon-to-be ex-wife......and the NFT Rambo´s.

So for the first group go here, sit, sip your whiskey, wait and kill:

For the second group:

For more details on NFT hunting grounds please read the latest update article:

Update on the best places to catch Free NFTs & Some more Free NFT prob...

Step 3 - Selling & Making Money from Free NFTs

This chapter will focus on 3 topics.

1. Can I make Money selling Free NFTs?

2. How to sell a Free NFT

3. How to turn WAX into Dollars

1. Can I make a living selling Free NFTs?

No!

Let´s kill that dream straight away, right now you will not get rich from selling Free NFTs. But like with baseball cards, in a couple of years one of your freebies might actually make you rich. Still, there is money to be made selling freebies. 

I am not saying it´s the smartest thing to do, these freebies one day might be worth more than they are now....but who has got time for that right?

So if you want to sell goo ahead, you can make some dollars from it. I personally made over $30 already, holding another $30 in WAX right now and another $30 in unsold NFTs.

So yes there is money to be made, especially if you learn where to hunt and how to best sell.

2. How to sell a Free NFT

This sounds so simple still, I got a lot of questions on how you to sell an NFT.  

Select list on Market

And then select Sale and do not select Auction, my personal experience is that hardly anybody uses Auction.

Also, keep your eye on the prize. If you want a quick sell to be sure to list against or just below the Lowest Market Listing. If you don't mind waiting list against the suggested price.

NOTE: If the suggested price is lower than the Lowest Market Listing I advise you to just go below the Lowest Market Listing.

Another piece of advice is to once in a while review your listings and adjust them to the current market value if you want to sell. Just keep in mind to not list them below 0.05 WAX if you want to make a profit. I will explain the why for that price in a bit.

Further details on making money can be found in the below article:

Can I make Money collecting Free NFTs?

3. How to turn WAX into Dollars

So if you have been selling Free NFTs and you got your wallet filled with WAX you might want to turn that WAX into something else, let´s say dollars or Bitcoin then follow the following steps:

Step 1

You need a Wax Cloud wallet and then use this address https://wallet.wax.io/, because from your Atomichub address you can not send WAX.

Step 2

You can send your WAX to several exchanges e.g. Bittrex, but I will be using Kucoin.

Step 3

In KuCoin you go to Assets and search for WAX and click on it.

Step 4

Select Deposit and click on I understand.

Step 5

Make sure you copy the address and the Memo.

Step 6

Back to the Wax Wallet Dashboard and select send.

Step 7

Choose the token you want to send.

Step 8

Select the amount you want to send and keep some WAX in your pocket, in case you need to buy RAM.

Step 9

Now enter the Kucoin address and Memo.

Step 10

Click next.

Okay, so that is how easy it is. Now you soon will receive a confirmation email and I received the WAX in my Kucoin wallet within the hour.

Step 11

Now for Turing WAX into $USDT Transfer your WAX from your main account to your trading account.

Step 12

The final step is to go to WAX/USDT and sell that 💩 before it melts.

More details and screenshots for each step can be found in the below article:

How to turn the WAX made from selling your FREE NFTs into $$Dollars$$

Step 4 - RAM & CPU Mysteries & Problems solved 

So this 4th part will be about a lot of pretty basic issues you will face when starting out your collection:

1. Where did my RAM go?

2. How to get more RAM?

3. What happens if I am out of RAM?

4. Can I get the money I spend on buying RAM back?

5. What happened to my CPU?

6. How to get more CPU?

7. Can I get the money spend on buying CPU Back?

Okay, many topics, many issues, and fortunately many answers:

1. Where did my RAM go?

So there are a lot of fairytales out there about RAM. Let me demystify the RAM mystery:

I spent several hours testing and I can give you the one and only truth about what happens to your RAM collecting Free NFTs.

1. You pay RAM for Grabbing a Free NFT, according to my calculations between 110 & 140 RAM Bytes.

2. You spend RAM for listing your Free NFT, according to my calculations between 400 & 800 RAM Bytes.

3. You get the RAM Bytes used for listing your Free back once it is sold or delisted. 

4. You do not get the RAM for claiming a Free NFT back, not even when you burn the NFT. That RAM is only returned when the Creator burns the NFT.

5. Based on the RAM paid for claiming you can calculate the minimum price for listing a Free NFT. This should be 0.046 WAX, but as you will be paying fees when selling it needs to be at least 0.05 WAX. Any listing lower than that will make you lose money.

2. How to get more RAM

Go to your View On Bloks:

Go to your RAM Wallet:

 

Select your account in Send to.

Select the amount of WAX you want to sent 1-2 Wax is enough to get you going again.

Click Transfer Wax (in the blue box)

Approve the transfer and click Transfer WAX again.

3. What happens if I am out of RAM?

If you do not have any WAX you´re screwed you are dead in the water and can not do anything anymore......... GAME OVER!

Unless someone is so kind to fill in your Account in the Sent to Box and send you WAX. If you receive no WAX you can buy it yourself on https://wallet.wax.io/ but the minimal amount is high and as the idea is to make money without money I will go any further explaining that option.

4. Can I get the money, I spend on buying RAM, back?

Well, yes most of it you can get back as normally it´s locked up in your listings. So once you have sold or delisted all your NFTs and your finalizing your exit strategy you can go to the same place where you bought RAM on View On Bloks and now select Sell RAM

And there you can sell everything under Available. This will then be added to your WAX Wallet.

5. What happened to my CPU?

Basically, there are 2 scenarios causing your CPU to be to high:

1. It´s very busy on the Block

2. You are making it too busy on the block

Option 1: The CPU normally replenishes itself as soon as the traffic on the blockchain drops a bit, so just be patient and keep trying this normally works within a couple of minutes

Option 2: If you are a true NFT addict, like me, you might end up having hundreds of Free NFTs, and holding these will slowly, but steadily, drive up your CPU usage. You can see your stats by clicking View on Bloks.

In the second case, you want to stake some CPU. You do this by opening your CPU Wallet.

Here you can stake & unstake CPU, meaning all the WAX you invest in CPU you can unstake when you are exiting, it´s not lost.

Lesson #1 always keep some WAX ready in case you run out of RAM or CPU

But lately, I encountered a new Scenario:

I have WAX, but I am too low on CPU & RAM.... and now I can not do poo.

This one is a little bugger because if you want to buy CPU you need RAM and if you want to buy RAM you need CPU....... Yup dead in the water again!

If the CPU does not replenish a friend can help you out. They can stake some CPU for you if they go here, fill your WAX Wallet address, and stake 3 Wax or more of CPU for you.

The great thing about this method is that they remain the owners of whatever they stake, and as soon as you picked up the hunting trail again and got some WAX to buy RAM & CPU they can unstake their staked CPU.

Lessons Learned 

Don´t get into the free NFT game for the Money, or you need to enjoy making $2 an hour in a bull market and $1 in the current market.

Always start selling Free NFTs as soon as you get started to have some WAX to buy RAM & CPU

NET is nice, but I never needed it

Once you are exiting the NFT Universe don´t forget to sell your RAM and Unstake your CPU

Don´t sell an NFT below 0.05 WAX if you do not want to sell with a loss

Don´t get into the game if you only want to make money

Hope you had a good read and maybe even picked up one or two useful tips along the way.

If you enjoyed the article have a lovely rest of your day & please hit the like button gently ....Do Not Smash.... on your virtual way out!

Previous NFT Related Articles:

For those who wonder why I wrote this article, I get a lot of Free NFT questions and I always need to search for all the links and what is written where. I hope with this article I provided a nice summary and the option to share one article that virtually fits all.

Disclaimer

I do not have any connection with any company I am writing about. I am not being paid to write this article.

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Written by   21
4 months ago
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