What to look for in a very good NFT project
公開日:2022/02/11 / 最終更新日:2022/02/11
Are you new to the NFT house? Don’t have any thought the best way to buy one or what to look for? What makes good projects better than others? Who do you have to be following?
If you are reading this, it’s probably because you’ve been poking across the NFT area and community and have some questions. Some of these “images” offered under the name of “NFT” sell day-after-day for a lot of money … and hopeful this weblog post will help you find your way around.
What’s an NFT?
Before we go too far, let’s just take a step back and start with the basics. NFT stands for a non-fungible token, or in other words, behind these pieces of art are distinctive and non-interchangeable units of data which are stored on a digital ledger. These are powered by blockchain technology to determine proof of ownership. Like your typical pieces of artwork, NFTs are collectible digital assets that truly hold value.
Just like with any other investment strategies, it is vital you all do your own research. I’m definitely not a pro at this NFT space so please take what I write under not as the source of truth.
Unless you might be sleeping under a rock, you definitely know that NFTs and the Metaverse are on fire right now. Bored Ape Yacht Club and Cryptopunks have opened up a very new digital sector of crypto collectibles.
2021 proved to be the year of large adoption for the NFT market space. NFTs are more than just collectible pieces of artwork, many are now adding utility to them and are starting to be integrated within the Metaverse. CoinMarketCap reports that the sales from NFTs has reached over USD 19 billion. From these sales, 57% got here from major sales. The goal behind this is to get in early after which sell them for a profit. We know that not all NFTs will survive. We’re in hyper mode proper now and unfortunately, not everybody will make it.
But with all these NFT projects on the market, how can one choose the one that will boom? How are you going to point out the ones that will make it from the ones that will flop?
There aren’t any magic eight balls, but there are some basic strategies that can assist you alongside the way.
Get In Early, Get Out Big!
Discovering profitable good NFT projects will be difficult. There are many things to consider and lots of places to look. Hopefully this can help you narrow things down.
Bar none, Twitter is king and the place where NFTs live. It is without doubt one of the best places to find out about upcoming projects, discover its communities and keep up to date with sure projects. Discovering projects on Twitter is really straightforward and it can be the place where you’ll be able to market your own NFTs and collectibles.
Leveraging influencers and different NFT thought leaders will be really useful to find out which projects they’re following and involved in — usually a strong indication of a good project. This platform is the place everybody talks about projects they like, dislike, what they’re shopping for, holding, and selling.
What to look for
If you’ll make investments your own money into something, it only make sense that you spend time learning. The NFT house does take a bit of time however in case you are willing to place in some additional efforts your possibilities of finding good projects improve dramatically. A great approach is one that traders would typically use to measure success for startups:
Traction (social, discord, influencers, etc.)
Team (people invested in the success of the project)
Sales ( of sales and price movement in latest days/weeks)
Let’s go a bit deeper into a few of these components which you’re on the hunt for that next NFT gem
Road Map Or White Paper
An NFT Roadmap is a doc that maps out the goals and strategies of an NFT project you might be at present looking into, in an effort to talk its lengthy-term value. NFT roadmaps usually embody key project milestones, brief and lengthy-term goals, and plans for marketing and growth. It is the similar as with regular businesses. It needs a clear vision and mission. We need to look at how it is constructed up and how a lot effort was given to placing the items together. Is what they need to achieve even possible? Observe your gut… if it appears like it doesn’t make sense, then it probably won’t.
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