Finding good NFTs can be confusing. However, it is possible to identify promising NFTs with some tools, good habits, and by taking advantage of an opportunity.
Finding good NFTs is possible
Every day, tens of thousands of NFTs are created and sold. Some increase in value, while others don’t. Then you are probably wondering: how do you choose an NFT? Let’s give you some tips on how to make the right choice if you are new to NFT investing.
Creator’s Reputation
Before buying an NFT, it is recommended that you find out as much information as possible about the identity of the creator:
- Are they well known?
- Have they ever published works or participated in collections of NFTs?
- What are your opinions about this artist?
- Do they have a consistent public presence on social media?
If you like the creator’s work or know them personally, you’ll find it easier to invest. An utterly anonymous artist will potentially have less credibility.
Find NFTs You Like
It’s easier to invest in something you like. To discover NFT collections, you can use the explorer tool on OpenSea, the world’s leading NFT platform.
Here you will find the most popular projects at the moment and which NFTs are often sold. You can also discover all the collections sold on OpenSea, classified by categories:
- art
- collections
- domain names
- music
- photographs
- sports
- playing cards
- utilities and
- metaverse.
Another useful tool is MomentRanks. This site allows you to see which collections of NFTs have been trending for 24 hours, a week, a month, or more. These are good indicators to show the trading volumes of the collections.
MomentRanks is also useful for looking at the social networks of the creators, accessing community tools (Discord, for example), as well as to obtain data on the sales history of a collection.
The Roadmap
Many NFT projects publish a roadmap or sometimes it is called a “white paper”. A serious NFT project will communicate its goals and strategy through this roadmap. This gives the NFT more credibility, which makes it easier to attract investors.
This is especially true for utility and community NFTs. Three questions to ask yourself when discovering the roadmap of an NFT:
- Are the planned actions consistent with your expectations?
- Is there a marketing strategy in place?
- Do the deadlines for achieving the objectives seem logical?
The NFT Community
It is recommended that you connect with members of an NFT community, usually on Twitter or Discord. This helps to better understand the expectations of collectors and also to assess the growth potential of the project. An active community is a good signal in general!
Observe the buzz around an artist to gauge the enthusiasm of the members. Finally, subscribing to the forum or newsgroup of an NFT project can allow you to interact directly with the founders, the various artists, and programmers.
Upcoming Mints
Getting an NFT can be done in two ways: either minting it or buying it from its owner. Minting is the process of turning the digital file into an NFT from the outset to become the first owner.
If you purchase an NFT after it has been minted from the buyer, it will become more expensive unless the NFT has not taken off. Mints can sometimes occur during “drops”.
A drop is a defined period during which potential buyers of a not yet minted collection can access an early sale of NFTs. To participate, simply visit the artist’s official website or the platform that hosts the mint, and connect your crypto wallet.
So there you have it, folks. With some help, it’s possible finding good NFTs. Let us know your thoughts in the comments section below. And while you are at it, drop your email to get insights into your inbox.
