NFTs are on fire now and the success of Cryptopunks and BAYC has opened up a whole new world of crypto-collectibles. The NFT sector witnessed massive adoption in the previous year. Furthermore, the introduction of Metaverse and integration of NFTs in it has provided a strong footing to NFTs. The market witnessed sales worth USD 19 billion until December 3rd, 2021, which is 29 percent more than what it was in November 2021.
Of the amount stated, 57 percent of the money has come in primary sales. This implies that people are keen on finding early investment options so that they can sell them and make a profit. However, can all NFT projects survive the intense competition? Not really. Only a few will survive and thrive in the marketplace. If you are keen on investing in NFTs, then the key lies in finding the right project early.
Why random picks won’t work
If you have invested in NFTs and find it difficult to find good projects, then there are various reasons for it. Not all people have the skills or resources to produce good music, art, and other forms of digital entertainment.
The flaws could include
- Poor design
- Rug pulls/unengaged team
- Limited utility
- Inconsistent quality
- Poor community engagement
- Potential for a rug pull or scam
With plenty of NFTs available in the market, how to find something that would be rewarding in the long run? We have listed ways in which you can find the best NFT projects before they are released.
This is the most powerful to identify NFT projects at an early stage. This is the platform where the majority of the NFT community can be found. hence, you would find several popular buyers and influencers in this space who are interested in crypto. This is the platform where everybody talks about the projects they are selling, holding, buying, likes and dislikes.
For instance, bobbyquinn relies on an analytical approach for valuing NFTs. The users can create lists for organizing common topics and for branching out. Also, the users can monitor who interacts with whom and base their decision on clear logic.
The NFT Calendar NFT-Scout.io
This is a go-to site for all upcoming NFT project before they are released. The site lists all the upcoming mints. Anybody can submit their NFT to be featured. Also, many of them pay for boosting their projects to get to the top of the list. This website is ideal for starting your research. It is free and gets constantly updated so that you can access it and do your research at any time.
NFT Calendar also puts all the links for the Project on each page so you can use them while conducting your research. Moreover, the users can navigate to their Twitter page and check the engagement they get on their tweets. Moreover, the users can navigate to their Discord to check the type of community the NFT group has and how involved they are.
Discord
This is a more powerful and better tool than Twitter to look for NFT projects at an early stage. It is easier for you to filter NFTs on various parameters. Each community, project, or influencer have their own Discord Server with varying degrees of engagement. You need to find servers that openly discuss new projects so that you can make the right move.
Servers such as the Free Mint Club make announcements about the upcoming mints. Also, there are specific servers for each NFT collection. You can join the BAYC servers to talk about the minters. Even the Cool Cats server allows you to engage with the developers on upcoming projects.
Nansen.ai
Making decisions based on analytical data is one of the best ways to identify the NFT gems. Nansen tries to equip the users with valuable information regarding NFT space. It aggregates the buyer data from OpenSea and breaks it down in the form of simple analytics and graphs. The users can check where all the money is going and also identify the most influential buyers who are holding and buying NFTs. You also receive alerts when specific wallets buy or mint a new collection.
RyzeNFT
This is an expensive yet powerful tool for identifying undervalued NFTs so that you can act quickly. This secret tool provides the users’ access to some incredible metrics and tools. For instance, the Rarity sniffer allows you to check the rarity rankings on OpenSea. The Mint sniping tools allow you to mint automatically from the contract the second a mint opens. This helps you skip the gas wars easily.
Ryze automatically watches the collection and sends notifications if anyone posts well below the floor for quick liquidity. The access to this till tool is available in the form of NFT. Available for 0.94 ETH with a 0.08 ETH monthly subscription. The users can also access the lifetime subscription for 3.89 ETH. The subscription comes in the form of NFT and can be sold at any point.
OpenSea Activity
Another strategy is to rely on OpenSea tools to find the best NFT projects at an early stage. You can use Discord and Twitter to identify the hot collections and then monitor their activity in OpenSea. This is an easy and free option. You need to find the collection and then click on the activity tab. This will give you access to minute-by-minute transactions and stats such as the average price, owners, and more.
Moreover, you can monitor all OpenSea activities manually. All you need to do is click on the stats, activity and then sort by the chain. You can also watch the trends, recurring collections, and high sales in this way.
The Road Map
This is one of the most important documents provided to the public for every project. It consists of a list of upcoming drops, events, and important dates for the project. This roadmap can be one of the most telling parts of a successful NFT project. If you want to invest in a project for the long term, then you need to look for a roadmap.
Roadmaps with tons of unrealistic short-term promises are red flags. These are usually used for pumping price before a rug pull. These promises come in the form of free airdrops, benefits, tokens, and more. Therefore, sniffing these red flags out, coupled with anonymous, price/floor-oriented devs is essential for finding rug pulls. Also, a roadmap is a collection guide to the future.
Icy tools
This is a subscription-based platform that provides minute-to-minute trends in the NFT market. Instead of relying on OpenSea for watching trends, you can use Icy Tools for aggregating all the data. In the free plan, you can enjoy the hourly and daily trends. By paying a subscription fee of $62/month subscription, you would gain access to 15m and 30m trends, get alerts for when to buy, mint, sell and also track wallets.
Although investing in Icy tools may appear like a steep investment, one hot mint could pay for your entire year’s subscription. It is a useful investment for traders who love taking analytical decisions.
Rarity Tools
It is one of the best websites for finding new mints as well as located underpriced rates. Hence, the users can use the upcoming mints calendar for accessing a curated list of mints that everybody is excited about. Also, the users can check who is following these projects and branch off from there.
This tool is great for finding underpriced rates in an NFT collection. You can pick the group you are interested in. furthermore, the users can set the filter to buy now and the tool would provide you a list of NFTs you can invest in from the collection along with their prices. You can choose the one in your price range to make a purchase.
Take a deeper look at the project
The most important aspect of finding valuable NFT projects for investment is to do research at your end. You need to first search more on the projects that interest you. Instead of investing in what others are buying, you need to base your decisions on solid research. Whenever you invest in projects you thoroughly understand and are interested in, you would be able to make the best decisions.
Further, the users need to take a closer look at the project and check what makes the collection unique in comparison to others in the market. Using tools will also help you make good investment choices and make money in the long term. You need to understand why people are investing in a particular NFT instead of blindly investing in it.
Spot trends and categories and double-check your hypotheses before making a purchase. Spending time looking at various projects and understanding what makes them successful will help you become a successful NFT trader.
