Nikhil DesignsHow Autoplay Ruined Our Attention Span
We might be in trouble. Autoplay features on websites and social media platforms are making it increasingly difficult for young people to maintain their attention span. Autoplay automatically plays videos and other forms of media as soon as a user opens a page or scrolls past the content, which can be highly distracting and disrupt the user's ability to focus.This app probably didn't help our situation...Research has shown that the human brain is not well-suited to multitasking, and...
Nikhil DesignsHow Web3 Can Save Your Recording Studio
Web3, also known as the decentralized web, is a new generation of the internet that utilizes blockchain technology to enable more secure and decentralized communication and transactions. While it is still in its early stages of development, Web3 has the potential to revolutionize many industries, including the music industry. Here's how Web3 can save your recording studio:Improved royalty distribution: One of the biggest challenges faced by recording studios is the issue of royalty distr...
Nikhil DesignsENS, The Journey So Far
“What is this {name}.mirror.xyz, and why is all of crypto-Twitter using it?” Alright, so I’ll be the first to admit, this isn’t the first time I’ve played inside web3; however, this is the first time I actually used the mainnet. If you’re curious, the mainnet is where blockchains actually run. A testnet allows developers to test their code before actually launching it. The first thing I bought was a Ledger Hardware Wallet which allowed my funds to be safe while giving me the courage to start ...
I'm a product designer and developer for Web3. I'm one of the creators of the [Community of Creators](https://arthentic.co). *AI Assisted*
Nikhil DesignsHow Autoplay Ruined Our Attention Span
We might be in trouble. Autoplay features on websites and social media platforms are making it increasingly difficult for young people to maintain their attention span. Autoplay automatically plays videos and other forms of media as soon as a user opens a page or scrolls past the content, which can be highly distracting and disrupt the user's ability to focus.This app probably didn't help our situation...Research has shown that the human brain is not well-suited to multitasking, and...
Nikhil DesignsHow Web3 Can Save Your Recording Studio
Web3, also known as the decentralized web, is a new generation of the internet that utilizes blockchain technology to enable more secure and decentralized communication and transactions. While it is still in its early stages of development, Web3 has the potential to revolutionize many industries, including the music industry. Here's how Web3 can save your recording studio:Improved royalty distribution: One of the biggest challenges faced by recording studios is the issue of royalty distr...
Nikhil DesignsENS, The Journey So Far
“What is this {name}.mirror.xyz, and why is all of crypto-Twitter using it?” Alright, so I’ll be the first to admit, this isn’t the first time I’ve played inside web3; however, this is the first time I actually used the mainnet. If you’re curious, the mainnet is where blockchains actually run. A testnet allows developers to test their code before actually launching it. The first thing I bought was a Ledger Hardware Wallet which allowed my funds to be safe while giving me the courage to start ...
I'm a product designer and developer for Web3. I'm one of the creators of the [Community of Creators](https://arthentic.co). *AI Assisted*
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Tldr;
The Basics
Twitter, Discord, Website
Blockchain
Multiple NFT Marketplaces
Roadmap
Whitepaper
Tokenomics
Floor Price
Current Value
Valuation of the Collection
Growth Potential
Community Engagement
Founders
Self Doxed
Involved
Members
Minimal Politics
Welcoming
Involved
Foundational Stuff
Before we start analyzing spreadsheets and constructing graphs, there are a few preliminary checks to consider. Does the project have a good brand that appeals to you? Do you like the technology the project uses? Do you believe in the project’s mission?
Twitter, Discord, Website
Every important PFP(Profile Picture) NFT project has a web presence. Twitter is useful for discovering new NFTs and seeing what the different spaces are talking about. Discord has been used to organize communities with the feature to have exclusive chats for members. The last thing that I look for is a website that describes the project’s purpose and plan.
Blockchain
Where the NFT is made makes a world of difference. Ethereum is the main network that people use today, containing around 80% of all NFTs(source). One of the main problems with Ethereum are the transaction fees, known as Gas, which can cost hundreds of dollars which has led to a few alternative chains. Polygon is a Layer 2 solution that charges zero gas using PoS(Proof of Stake) technology. Another cheap and fast, non-ethereum based, blockchain is Solana.
Full disclosure, my company Arthentic uses Polygon to mint NFTs for our artists.
Multiple NFT Marketplaces
The next thing to look at is how many NFT marketplaces the project is listed on. The top marketplace is Opensea with over 600K users. Other important marketplaces include Rarible, Nifty Gateway, and LooksRare. Marketplaces are constantly evolving so make sure to pay attention to any emerging competitors.
Roadmap
Every good project should have a plan and NFTs are no different. As a potential investor, you should know where the project is headed, and what financial rewards you’ll receive. Roadmaps are usually found on the web page and linked in the discord.
Whitepaper (Optional)
While a lot of NFT projects don't have a whitepage, this detailed document shows the project is a serious contender for investment opportunity. This detailed document will have research to back up their roadmap and calculations of expected returns for members.** **
Tokenomics
Floor Price
How much does it cost to enter and buy one NFT? This is the floor price. It’s important to consider that many projects have membership tiers, where holders of a specific number of NFTs get more exclusives.
Current Value
How much money has already been raised by the project? This is the number one metric for finding out how popular the project actually is. If most of the NFTs have been bought, that’s a great sign the enterprise will take off.
Valuation of the Collection
How much money is the whole collection worth? Is the total value worth what the project proposes to do?
Growth Potential
Is the project going to rocket off? This is based on both popularity and potential. If there’s a lot of hype but the project doesn’t do anything, or the project is fantastic but has no following, don’t invest in it. These projects may improve in the future, but it’s a risky investment. NFTs that have a clear path to financial growth are the only collections worth looking at.
Community Engagement
Founders
The leaders of your NFT project should be known and involved. Self-doxing is the term for when the creators of the NFT reveal themselves to the public. If you know the creator’s real identities, you’re less likely to get rug pulled.
Members
Everyone wants to join an inclusive community, if they aren’t welcoming why would you get involved? Check twitter and discord for how the community acts with each other and the outside cryptoworld.
Conclusion
To find the best NFT projects requires a lot of involved research. Hopefully I’ve broken down my method so you can discover amazing communities to join. I’d love to hear about your journey, so please connect with me on twitter!
Tldr;
The Basics
Twitter, Discord, Website
Blockchain
Multiple NFT Marketplaces
Roadmap
Whitepaper
Tokenomics
Floor Price
Current Value
Valuation of the Collection
Growth Potential
Community Engagement
Founders
Self Doxed
Involved
Members
Minimal Politics
Welcoming
Involved
Foundational Stuff
Before we start analyzing spreadsheets and constructing graphs, there are a few preliminary checks to consider. Does the project have a good brand that appeals to you? Do you like the technology the project uses? Do you believe in the project’s mission?
Twitter, Discord, Website
Every important PFP(Profile Picture) NFT project has a web presence. Twitter is useful for discovering new NFTs and seeing what the different spaces are talking about. Discord has been used to organize communities with the feature to have exclusive chats for members. The last thing that I look for is a website that describes the project’s purpose and plan.
Blockchain
Where the NFT is made makes a world of difference. Ethereum is the main network that people use today, containing around 80% of all NFTs(source). One of the main problems with Ethereum are the transaction fees, known as Gas, which can cost hundreds of dollars which has led to a few alternative chains. Polygon is a Layer 2 solution that charges zero gas using PoS(Proof of Stake) technology. Another cheap and fast, non-ethereum based, blockchain is Solana.
Full disclosure, my company Arthentic uses Polygon to mint NFTs for our artists.
Multiple NFT Marketplaces
The next thing to look at is how many NFT marketplaces the project is listed on. The top marketplace is Opensea with over 600K users. Other important marketplaces include Rarible, Nifty Gateway, and LooksRare. Marketplaces are constantly evolving so make sure to pay attention to any emerging competitors.
Roadmap
Every good project should have a plan and NFTs are no different. As a potential investor, you should know where the project is headed, and what financial rewards you’ll receive. Roadmaps are usually found on the web page and linked in the discord.
Whitepaper (Optional)
While a lot of NFT projects don't have a whitepage, this detailed document shows the project is a serious contender for investment opportunity. This detailed document will have research to back up their roadmap and calculations of expected returns for members.** **
Tokenomics
Floor Price
How much does it cost to enter and buy one NFT? This is the floor price. It’s important to consider that many projects have membership tiers, where holders of a specific number of NFTs get more exclusives.
Current Value
How much money has already been raised by the project? This is the number one metric for finding out how popular the project actually is. If most of the NFTs have been bought, that’s a great sign the enterprise will take off.
Valuation of the Collection
How much money is the whole collection worth? Is the total value worth what the project proposes to do?
Growth Potential
Is the project going to rocket off? This is based on both popularity and potential. If there’s a lot of hype but the project doesn’t do anything, or the project is fantastic but has no following, don’t invest in it. These projects may improve in the future, but it’s a risky investment. NFTs that have a clear path to financial growth are the only collections worth looking at.
Community Engagement
Founders
The leaders of your NFT project should be known and involved. Self-doxing is the term for when the creators of the NFT reveal themselves to the public. If you know the creator’s real identities, you’re less likely to get rug pulled.
Members
Everyone wants to join an inclusive community, if they aren’t welcoming why would you get involved? Check twitter and discord for how the community acts with each other and the outside cryptoworld.
Conclusion
To find the best NFT projects requires a lot of involved research. Hopefully I’ve broken down my method so you can discover amazing communities to join. I’d love to hear about your journey, so please connect with me on twitter!
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