The NFT platform has seen a relative revival in the Covid-19 era. Well-known brands like McDonald's, American Express, Johnson & Johson are entering the NFT platforms. If you are a newbie looking to find an NFT project early to make a good profit, we can help you by sharing some valuable ideas. It is important to mention that the competition is getting higher, and you must enter the NFT marketplace with proper planning to secure your investment and make good money.
Commonly known as DYOR, this is one of the essential terms for aspiring cryptocurrency operators. When you are looking for a marketplace to find a new NFT collection or discover existing ones, it is critical to do your own research to avoid being scammed. This applies to new NFTs, new cryptocurrencies, and new NFT games.
In order to find assets on any NFT platform or tracking website, make sure to assess their underlying price,market cap, number of owners, and above all, trading volume.
Check the NFT project social media and website for detailed information.
Do not forget to a look at the team behind the NFT project.
Typically, most NFTs follow the same concept while adding specific details so that each NFT has unique characteristics from others. This is the point where you should focus while selecting an NFT project to invest in.
For instance, you are investing in an NFT that is successfully generating a thousand pandas, and each panda has a different characteristic in its design.
What details make one panda model stand out from others? Which design is more attractive? If this kind of attribute comes to light, then you can invest in the project as this is something that people are looking for.
In simple words, if you breakdown the details of your NFT project and find that particular artwork or models will attract the crowd’s attention, then you should invest in the NFT project immediately.
Remember, the liquidity of NFT is very low, and if there is no demand for the NFT in the market, it means it is completely worthless.
A good community means that there is an excellent market for these NFTs, and you can easily find them at a high price if you choose the right one from the mass.
For instance, if a batch of 6000 NFTs has a 50 thousand member’s community, then it is better than 800 NFTs featuring two thousand followers.
If an NFT project does not have a proper supporting community, it means there will be no high demand for the particular NFT in the market.
An effective way to understand the community engagement of an NFT project as well as its demand is to check the social media platforms. Twitter and Discord are considered the most popular; thus, they host the most significant part of any NFT project. Make sure to check the community of an NFT project before investing.
Imagine you are an NFT collector and looking to create your NFT collection; what type of NFTs will you prefer?There will be different varieties depending on your choice and what not, but I can guarantee that you would love to find something unique. It is highly recommended to look out for this quality when planning to invest in NFT projects.
Every NFT is different and comes with a character of its own. If you want to invest in a big project, the overall design and characteristics are different, but the base concept and design are similar for the entire batch of NFTs.
You can make a decent trade with such type of NFTs, but it needs some serious luck and community support. It is advised to find out how many NFTs are in production when picking a project and how unique they will be in the market.
You can buy, sell or trade your asset on different NFT marketplaces. OpenSea, being the largest NFT platform,it has more than 20 million listings. The NFT marketplace features a filter for“New” NFT. You can also find different options on other platforms.
Make sure to follow successful investors and learn from them. Try to visit their social media profiles to understand which project was working for them and what reasons behind the success were.
Famous social media channels like Reddit, Twitter, and Discord are the two most active places where new NFTs share their work organically. These platforms are the most convenient and popular ways for artists to launch NFT projects. But remember to do your own research!
There are countless NFTs out in the market, and choosing the right project early can be rewarding in the long run. However, the process can be challenging at the beginning. Following a proper plan, participating in discussions on popular social media platforms like Twitter, Discord, and Reddit can be useful to finding the NFT projects easily. Remember, you can rely on tools like RaritySniper, and RarityTools, but it is recommended to do your own research to find NFT projects early and earn good money from them.
You can easily check the Rarity score of your NFT. Insert the ID of an NFT under the project section and click on Lookup. You will see the properties and Rarity score of the NFT. The high rarity score means the high rarity of your NFT. You can also check the rarity scores of any NFT project in website like Raritytools, RaritySniper, and such.
You can easily find out about new NFT projects. Look for trending NFT projects and find them on CryptoSlam and OpenSea. Join NFT communities and fellow collectors to find new NFT projects.