What is Premint? The Key to NFT Allowlists
Premint is an innovative solution to one of the biggest problems for NFT collectors: getting on allowlists to mint quality NFT projects. With NFT project volume increasing and more people entering the space, it is more competitive than ever to discover new projects and have a chance at minting them.
The evolution of NFT allowlists and pre-sales have attempted to give collectors a more fair chance at minting than experiencing a gas war, but keeping track of all of them is a lot to deal with. Premint and its various offerings help clear out the noise, and connect collectors and project creators together.
What is Premint?
Premint — or Premint.xyz — is an NFT access list service for NFT creators and collectors. It was created by Brenden Mulligan, an entrepreneur who has founded and sold three startups, most recently to Google. Mulligan has now transitioned into Web3 with Premint, which is addressing a growing issue in the NFT ecosystem: keeping track of allowlists and making them fair for all.
There have been nearly 26 million collector interactions for allowlist raffles on Premint, according to a recent Twitter Spaces. It is quickly becoming the main hub for allowlists, not only for NFT buyers, but for creators looking to distribute their work efficiently and fairly.
There is no Discord community available for Premint, as Mulligan has said that the website itself holds nearly all of the needed updates for community members.
How does Premint work?
Premint works like this: imagine that you log into Premint with one or more of your NFT wallets, and it automatically pulls up a list of allowlists that you qualify for. You can submit for these lists in a few clicks, and easily track mint dates for ones you win.
This solves the issue of having to hunt down NFT projects on Twitter, join a ton of Discords, fight for an allowlist role, and ultimately keep track of when they all mint.
Creators determine the criteria of what qualifies someone for their project. It could be following the project on Twitter, joining their Discord before a certain date, holding a certain NFT in your wallet, having a minimum amount of funds in your wallet, and many more customizations decided by the project.
Premint Creator Pass
In order to create a list, NFT creators need to sign up on Premint. The first 250 entries to a simple list are free. For more than 250 entries, creators need to get a Creator Pass NFT. They are 1 Ethereum each with an unlimited supply.
Once these are applied to an NFT project, they are considered to be burned. The Creator Pass enables Premium offerings for creators from premint.xyz, including unlimited entries and advanced criteria options. More options are being added all the time in order to give Creators the best value for their pass.
Premint Collector Pass NFT
The Premint Collector Pass is for those who want a simple yet thorough portal to keep track of allowlist opportunities. The pass also unlocks exclusive features and benefits, including passholder-only allowlists. It is valid for calendar years 2022 and 2023, with allowlist access for the pass in 2024.
The 10,000 Collector Passes went on sale on April 1, 2022 for 0.25 Ethereum each. In the following weeks, two major NFT projects chose to hold their public mint raffles exclusively on the site. These were Moonbirds and VeeFriends Series 2, and the drops went extremely smoothly.
This put the spotlight on Premint even more, and boosted its floor price as high as 3.5 Ethereum. Since, it’s dropped back down, now at 1.7 Ethereum at time of publication.
On the Collector Pass dashboard, there is a tab for exclusive allowlist opportunities for Premint NFT holders. A Collab Council has been established in order to sort through these projects, and select the best ones for the community.
What’s Coming for Premint?
The project team is putting in a major effort to scale as the requests for project collaboration are higher than ever. Brenden mentioned on a recent Twitter Spaces that the team only approves about 10 percent of the project requests, in order to shield Premint users from shady NFT projects.
To encourage NFT collectors to keep their investments safe, it was announced that soon, all Collector Pass holders will receive a free Ledger cold storage wallet. This is one example of a benefit that Collector Pass holders will be receiving in the pass’ two-year lifespan.
TL;DR — Premint.xyz: The Homepage for NFT Allowlists
The future of Premint is bright — and they’re leading the future for NFT allowlists. The Collector Pass roadmap involves multi-wallet support, calendar feed, exclusive newsletters, leaderboards, and eligibility dashboards. There is also a Town Hall via Spaces every few weeks where Mulligan will update the community on feature progress.
NFT creators can continue to benefit by using Premint for allowlists to make it fair for all, and can reward various criteria based on the strength of their community.
NFT volume doesn’t show signs of slowing down anytime soon, and it’s more difficult than ever to discover new projects. Allowlist grinds are a full time job, and Premint saves collectors tons of time by having many of them available in one tidy dashboard. These types of tools will be more valuable than ever, as creators strive to stand out and collectors strive to gain an edge over the others.