Wondering how some NFT buffs make jaw-dropping profits from token flipping? Is it pure luck or their uncanny ability to detect great NFT projects before others? While luck matters, the massive gains made by early adopters of successful projects like Cryptopunks, Bored Apes. Here are tips to discover profitable NFT projects and early.
Doing detailed NFT project research helps recognize excellent NFT projects before their official minting stage. The best place to commence your early study is the project’s official website. A potentially profitable project’s site would have a detailed White Paper, Community tools, and a detailed social media presence.
A robust roadmap with long-term action plans is at the heart of every successful project. A well-chalked-out roadmap boosts investor confidence, pushing up the demand for the NFT series. Besides, top projects continually roll out new features, related collections, tech migrations, etc., to foster community growth and sustainability.
Twitter is the go-to platform to find everything about a new NFT project at the beginning/early stage. Usually, the larger the fan base of a project’s creators, the greater the project’s credibility and perceived value. Moreover, it permits external link sharing and important updates, drop schedules, and roadmaps are posted on Twitter.
Nansen is an AI-enabled blockchain analytics application for Ethereum. It augments on-chain metrics with easy-to-remember wallet labels. Nansen helps users find new investment avenues, conduct due diligence and set up personalized notifications to safeguard their portfolio positions.
The success of an NFT project is commensurate with the power of its community. The larger the community, the greater the community strength. Thus, a thriving community is a tell-tale sign of a great NFT project. Discord is the highest-ranked invite-only app for community building. Thus, many NFT projects have Discord accounts for nurturing community participation and growth.
OpenSea – the biggest NFT emporium, ranks projects on Ethereum, Klaytn, and Polygon based on trading volumes. It also displays each project’s floor price, the number of unique owners, and the total items in the collection. Monitor the sales activity of a specific project by choosing the relevant filter to view the resale frequency and last sales price of individual tokens in the series.
The NFT Calendar is a top website for finding exciting NFT projects early. It promotes NFTs hosted on multiple blockchains like WAX, Solana, Ethereum, etc. Subscribe to the NFT Calendar email newsletter to grab lucrative NFT collections early.
An NFT’s rarity is the prime determinant of its market rate. The higher the rarity of a generative art token or collectible, the greater its resale value and subsequent profit potential. Rarity tools are top-notch tools for computing the rarity score of a given NFT.
RyzenNFT is a google chrome extension encompassing unique tools for discovering Ethereum and Solana-based Upcoming projects early. It directly links you to drop detector websites with a time countdown. RyzenNFT’s gas fee prediction and preset functionalities help set a gas ceiling price and identify astounding NFT projects.
No single strategy will help uncover High ROI NFT projects early. Analyzing the project’s website, Twitter, and Discord is imperative. But, you must also explore the other techniques before undertaking NFT investments.