NFTs (non-fungible tokens) are gearing up to revolutionize various industries by allowing true digital ownership. NFT technology can greatly impact industries such as metaverse, gaming, entertainment, real estate, automotive, luxury goods, and more! It is estimated that the global market cap of the NFT industry can reach 130.35 Billion by 2030. However, not all NFT projects are legit. New traders should learn how to spot and avoid scam projects.
NFT analytics tools make it easy for traders to make good NFT investments by providing key performance metrics of different NFT projects. You can use them to track an NFT project and apply filters to the collection to find amazing bargains. They also come with an NFT calendar that tracks upcoming drops.
NFT collectors use analytics tools to check different metrics of an NFT project, such as trading volume, past sales, buying pressure, resistance levels, floor prices, hype in the NFT community, and much more. However, not all NFT analytics tools are free. Some premium tools hide most of their functionalities behind a paywall. Fortunately, beginner NFT collectors can still benefit from free analytics tools.
Tracking any upcoming NFT drops and preparing yourself beforehand is another profitable strategy. Generally, the most hyped and popular NFT drops surge in price after minting. NFT tracking tools allow you to spot upcoming NFT collections before their release.
Trends in the NFT market change rapidly. Smart NFT investors stay ahead of the game and generate profits by basing their investment decisions around real-time market data. This is where NFT analytics tools can help you! They include: 1. Dune Analytic 2. Nansen 3. Icy Tool 4. CryptoSlam 5. NFSea Tool
All NFT analytics tool comes with certain strengths and weaknesses. On the basic level, many free and premium tools offer similar functionalities. So, free tools can still be valuable if you have just started with NFT trading.
The significant difference between a free and a premium tool is how quickly the data updates. Premium tools usually have no delays and update real-time data on the go, allowing NFT traders to snag big bargains before others. They also come with some advanced functionalities that free tools lack.