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Research is one of the most important parts of being apart of the NFT Space. Its also super important to do your own research before going off on someones advice. In this chapter, we’ll discuss how you can select investment projects that could get you profit. We’ll also go over where the value of NFTs nowadays come from. A pretty long chapter, but i’ll try to explain everything as easy as possible!
Fasten your seatbelts… Here we go! 💨
In this chapter:
What makes an NFT Valuable?
Where to find NFT Projects?
How can you spot a good NFT Project? Red flags?
Whitelists
What makes an NFT Valuable?
If you’ve searched across OpenSea earlier, you’ve probably had the thought “Why would people pay so much money for this?” multiple times.. Very basic art characters are being sold for over $2000?! Its a thought many people have, and thats where they start to struggle. Especially with starting own projects, facing the basic drawings that are being sold for over $2000 is honestly… Depressing. Especially if you then post your legendary 6 days worked on art piece and it doesn’t sell for $30..
Most of those simple art pieces have something thats called utility. Utility means that the owner of the NFT gets a lot of benefits. This can for example be access to closed Discord groups, invitations for real life events, free NFTs, giveaways and much more. So in general, that creates value to a project. But that utility applies to all items.. What makes certain items of that collection be worth $2000 and the others $200..
That is where rarity comes in. Most of the big 10k item collections are AI generated. This means that all the components (clothes, eyes, mouth, hair etc) are externally added into a piece of Software that automatically generates all the possible combinations. The creator of those collections can also set certain items and give them rarity. For example, he can enter that the golden crown is only added on 2% of all the items, meaning only 2% has a golden crown. If you’ve bought an item and want to check the rarity of your NFT, please make sure to check out: 👇🏼
Where to find NFT Projects?
Finding NFT Projects mostly goes through social media. And no, not Instagram.. The best known platforms to find NFT Projects are:
Discord
YouTube
NFT Calendars
We’ll go over each of those really quick:
*Twitter: *Twitter is the best platform for finding NFTs. Its incredible to see how many well educated people there are on Twitter. Be aware of the many NFT Promotions over there. To get legitimate information, i suggest you to follow the list of Twitter account mentioned below: 👇🏼
@Loopifyyy
@andy8052
@DeezeFi
@Zeneca_33
@Fitchinverse
@zachxbt
@dhof
These are either owners of some of the biggest projects but also some of the most interesting investors.
*Discord: *Discord is a super important place, if not, the most important place within the NFT Space. Its the place where you can communicate with the team of an Project, get to know more about everyone who wants to buy items from the project and obtain a whitelist. We’ll talk about that a little later in this chapter and is one of the most important things in NFTs!
*YouTube and NFT Calendars: *Overall.. I’d say YouTube and NFT Calendars are sometimes valuable sources for finding NFT Projects. But you have to keep in mind that a lot of the projects have paid to be in those video’s / on those Calendars. Its like paying an influencer to promote your product. NFT YouTubers get paid to promote certain NFT Projects. There are only a few that actually check the project before promoting it, but there are too many YouTubers telling you you can buy the projects while its a complete scam. ALWAYS DO YOUR OWN RESEARCH!
How can you spot a good NFT Project? Red Flags?
There are many ways to check if an NFT Project isn’t a scam. Here are the most important red flags to check:
🚩 - The team is shady and there isn't a lot of information about them. 🚩 - Fake Twitter followers, weird activity / interaction spikes, mostly no interaction 🚩 - Cheap art, looks like there is no time invested into the art. 🚩 - Overpromising. Telling a lot of “plans” they can’t make happen.
These red flags are some to go over before getting into a project. Also always check the OpenSea stats such as floor price, owners etc etc.
Whitelists
A “whitelist spot” is something that could be crucial for your profit. Its the best way to flip and the safest and most guaranteed way to profit. Let me quickly explain what a whitelist is and why its so super important to own one.
A whitelist allows a wallet address to get access to a mint earlier as the actual release (everybody else). This means you’ll be guaranteed of buying a piece. Besides the fact that you get to buy some items off the collection early, you’ll also avoid gas wars, its basically a moment where everyone tries to push their transaction through the blockchain by paying as much gas fees as possible. This will rise and rise as everyone wants their transaction to go the quickest.
You can mostly get a whitelist by being active in the Discord servers of the projects. Having true, generous conversations with people, showing interest in the project, participating in Discord events, etc etc helps you a lot with getting a Whitelist spot! Its a big grind and getting one is different for every project so good luck on getting one!
Whoo.. That was this chapter.. Congratulations, you now know where to find the good projects!
In the next chapter, we’ll talk about actually buying the pieces and knowing when to sell to make as much profit as possible!
Research is one of the most important parts of being apart of the NFT Space. Its also super important to do your own research before going off on someones advice. In this chapter, we’ll discuss how you can select investment projects that could get you profit. We’ll also go over where the value of NFTs nowadays come from. A pretty long chapter, but i’ll try to explain everything as easy as possible!
Fasten your seatbelts… Here we go! 💨
In this chapter:
What makes an NFT Valuable?
Where to find NFT Projects?
How can you spot a good NFT Project? Red flags?
Whitelists
What makes an NFT Valuable?
If you’ve searched across OpenSea earlier, you’ve probably had the thought “Why would people pay so much money for this?” multiple times.. Very basic art characters are being sold for over $2000?! Its a thought many people have, and thats where they start to struggle. Especially with starting own projects, facing the basic drawings that are being sold for over $2000 is honestly… Depressing. Especially if you then post your legendary 6 days worked on art piece and it doesn’t sell for $30..
Most of those simple art pieces have something thats called utility. Utility means that the owner of the NFT gets a lot of benefits. This can for example be access to closed Discord groups, invitations for real life events, free NFTs, giveaways and much more. So in general, that creates value to a project. But that utility applies to all items.. What makes certain items of that collection be worth $2000 and the others $200..
That is where rarity comes in. Most of the big 10k item collections are AI generated. This means that all the components (clothes, eyes, mouth, hair etc) are externally added into a piece of Software that automatically generates all the possible combinations. The creator of those collections can also set certain items and give them rarity. For example, he can enter that the golden crown is only added on 2% of all the items, meaning only 2% has a golden crown. If you’ve bought an item and want to check the rarity of your NFT, please make sure to check out: 👇🏼
Where to find NFT Projects?
Finding NFT Projects mostly goes through social media. And no, not Instagram.. The best known platforms to find NFT Projects are:
Discord
YouTube
NFT Calendars
We’ll go over each of those really quick:
*Twitter: *Twitter is the best platform for finding NFTs. Its incredible to see how many well educated people there are on Twitter. Be aware of the many NFT Promotions over there. To get legitimate information, i suggest you to follow the list of Twitter account mentioned below: 👇🏼
@Loopifyyy
@andy8052
@DeezeFi
@Zeneca_33
@Fitchinverse
@zachxbt
@dhof
These are either owners of some of the biggest projects but also some of the most interesting investors.
*Discord: *Discord is a super important place, if not, the most important place within the NFT Space. Its the place where you can communicate with the team of an Project, get to know more about everyone who wants to buy items from the project and obtain a whitelist. We’ll talk about that a little later in this chapter and is one of the most important things in NFTs!
*YouTube and NFT Calendars: *Overall.. I’d say YouTube and NFT Calendars are sometimes valuable sources for finding NFT Projects. But you have to keep in mind that a lot of the projects have paid to be in those video’s / on those Calendars. Its like paying an influencer to promote your product. NFT YouTubers get paid to promote certain NFT Projects. There are only a few that actually check the project before promoting it, but there are too many YouTubers telling you you can buy the projects while its a complete scam. ALWAYS DO YOUR OWN RESEARCH!
How can you spot a good NFT Project? Red Flags?
There are many ways to check if an NFT Project isn’t a scam. Here are the most important red flags to check:
🚩 - The team is shady and there isn't a lot of information about them. 🚩 - Fake Twitter followers, weird activity / interaction spikes, mostly no interaction 🚩 - Cheap art, looks like there is no time invested into the art. 🚩 - Overpromising. Telling a lot of “plans” they can’t make happen.
These red flags are some to go over before getting into a project. Also always check the OpenSea stats such as floor price, owners etc etc.
Whitelists
A “whitelist spot” is something that could be crucial for your profit. Its the best way to flip and the safest and most guaranteed way to profit. Let me quickly explain what a whitelist is and why its so super important to own one.
A whitelist allows a wallet address to get access to a mint earlier as the actual release (everybody else). This means you’ll be guaranteed of buying a piece. Besides the fact that you get to buy some items off the collection early, you’ll also avoid gas wars, its basically a moment where everyone tries to push their transaction through the blockchain by paying as much gas fees as possible. This will rise and rise as everyone wants their transaction to go the quickest.
You can mostly get a whitelist by being active in the Discord servers of the projects. Having true, generous conversations with people, showing interest in the project, participating in Discord events, etc etc helps you a lot with getting a Whitelist spot! Its a big grind and getting one is different for every project so good luck on getting one!
Whoo.. That was this chapter.. Congratulations, you now know where to find the good projects!
In the next chapter, we’ll talk about actually buying the pieces and knowing when to sell to make as much profit as possible!
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