Quick Summary:
- NFT projects are the recent fad and everyone is trying to get quick profit by flipping NFTs or holding them longer for exciting utilities.
- Finding a good and profitable project is hard unless you have a plan.
Related: 3D NFTs: What Sets Them Apart from Regular NFTs?
How to find and Evaluate NFT projects?
To find a good project, you must put in a lot of struggle and time as there are more scams than real projects. Nothing we say is investment advice, but here is the most recommended way:
- Know your goal
- Do Your Own Research
Know your Goal:
Want to learn: If you want to learn about what is NFTs, it’s probably the best idea to buy a layer 2 protocol NFTs like Polygon. These NFTs are relatively cheaper and there are very less fees to pay. Trying getting some layer2 projects like Polygon-based NFTs.
If I buy an NFT off of you to flip, it is because I highly value your work and see a piece that is worth more than what people see it for. No matter how or why I buy your art, just know that one of the main goals is to make you known and increase the value of you as an artist!
— Seth Berry I Oasiz I … (@NFTOasiz) February 19, 2022
Want to support an Idea/Art: if you are looking to support an idea or art, then perhaps you have already made up your mind.
Investment: Some “blue chip” NFTs are very expensive to get your hands on and many new projects fail. Therefore, NFTs for investment purpose is riskier inherently. That’s where the second part begins, doing your research.
Do Your Own Research:
- Find a project: To look for a better project,
- Look for trending projects: You can find the trending projects on NFT Marketplaces like Opensea, CryptoSlam, and Non-fungible.
- Follow the Collectors: Always keep an eye on the NFT whales. Check their activity and if they are getting into a project, green flag.
- Join NFT Communities: Use Twitter and Telegram to engage with the NFT community and close follow the hype but no fad.
🧵Which $sol communities should I ape I to? Here’s my top list of solana NFT projects Im watching:
— Books🔚 (@DaoKwonDo) October 20, 2022
1. @DeGodsNFT
2. @okaybears
3. @CetsOnCreck
4. @BVDCAT_
5. @SolanaMBS
Like, comment, RT with your favorite community!
- Mission: Always check What an NFT project is about
- Social: It is very important to see if people are talking about the project.
- Roadmap: If the project has a practical and longer-term roadmap including community engagement, this is the project you should get into.
- Team: Team behind the project plays an integral part in its success of it. If you can verify the project is backed by an influential team that has achieved something in the NFT space, this could be your chance.
Conclusion
Only 7% of the people who invest in NFTs make a profit, to be in that 7% you must do proper research. Look closely at the recent trends to land at the perfect NFT project.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
