Saying that there are several NFT projects out there is an understatement. In 2021, there were 250,000 people per month trading NFTs on OpenSea, the largest NFT marketplace in the world by trading volume.

Moreover, the market size in 2021 was nearly $25 billion dollars. In 2022, it is predicted to accumulate a net sales volume of $35 billion dollars.

Because of the profitability of the NFT market, several creators and projects are entering the market and trying to get their piece of the pie. However, not all projects are the same. Among the many great ones, there is the occasional scam as well.

Nobody purchasing NFTs would ever want to be scammed, so it is important to know what to look for when choosing a worthwhile project.

This article will share the factors that you need to watch out for when choosing a project that is worth your time and money.

The Team

Every successful project has a great team behind it. A good team includes a founder, developers, a marketing team and collaborators. The team members need to be reputable and have experience creating other successful projects.

When researching the reputation of a team, you should look for teams that are doxxed. This means that you should know who the real people behind the project are, instead of interacting with only avatars or pseudonyms. This enables you to research successful projects that they have been a part of in the past.

By verifying past successes, you can see the likelihood of future projects succeeding in the long-term.

Community Activity on Social Media

NFTs are all about community. Every great NFT project has a great community behind it. The community is responsible for creating a buzz, interacting with each team member and purchasing NFTs.

How do you learn more about a community? Visit or join the social media channels of your target NFT project. For example, you should join Discord, Twitter or Telegram.

These channels are used by community members to interact with each other as well as for the NFT project to communicate important information. For example, communication on Discord from the project can lead followers where they need to go to mint NFTs, get information from AMAs and where to purchase merchandise.

While the number of followers is a good indicator, the level of interaction on the channels is a better indicator of an active community. Active communities show genuine interest in the project by sharing insights, interests and contributing ideas for future improvements to the project.

Utility

A digital asset is good, but what makes it even more valuable is it’s utility. Great projects offer collectors more than just digital images. They offer entry into exclusive clubs, airdrops, merchandise and invites to other special events.

Some of the utility offered may be a great indicator of the long-term value of the project. Examples to watch for include future metaverse plans, additional NFT collections and toy collections.

Release Date and Price

Every good NFT project has a release date. The release date is when the mint will happen.

For most projects, there are separate dates for Allow Lists and Public Sales. Public sales may also be spread across several dates where the project sells batches of NFTs.

Additionally, great projects will not leave you in the dark about their pricing mechanism. They will share what the NFTs will cost, and if they will use an auction to sell.

A release date helps interested collectors plan when they will purchase the NFTs and how they should prepare for it.

Brand Recognition

Any NFT project can toot it’s own horn and claim that it is the best. However the reality is that brand recognition from peers in the NFT space is a better guide as to whether the project is legitimate and worthwhile.

Great NFT projects have collaborations with other reputable projects. They have collaborations that market through social media giveaways, AMAs and interaction on their pages.

You can tell that an NFT project is worth your time by checking what other NFT brands recognize and endorse it.

Mitama Mint Brings It All Together

At Mitama Mint, we value our collectors, so we made sure to hit all of the criteria of a great project through our operations and roadmap. Here is how we fit within the criteria:

Our team includes members from all over the world, with many years of accumulated experience in various industries, including software development, animation, content creation and marketing.

Our founder, Riku, has been successful in top executive positions within the IT, fashion and entertainment industries. Our marketing is spearheaded by Gabry, who has managed marketing at several DAOs and protocols.

Our project hired the best developers, content creators and marketing experts in the NFT space.

Our community is active on several social media platforms, including Discord and Twitter. The community engages users through these channels and participates in AMAs, Allow List giveaways and polls. Important information regarding the project is also shared on these channels, such as Allow List winners, project updates and other news.

Mitama Mint has utility that it will be released during different phases of the project. These include DAO decision-making, metaverse pets as well as an open metaverse, royalties to collectors and other merchandise. Aside from that, the project phases for each utility are outlined on the website, in the roadmap section.

Lastly, Mitama Mint has collaborated with some other Web3 projects, including Penguin Knights NFT, Darbotzz NFT, NFT Evening and other influencers.

In a nutshell, Mitama Mint fulfills the criteria of a good project: an experienced team, a community active on social media, utility, project timelines on the website and finally, brand recognition through collaborations.

It’s a project you should be on the look out for!