We hear about NFTs all the time and the money folks are making through buying, selling, and even earning from these digital assets but how do you actually go about finding your next NFT venture? 6 NFT TIPS before buying an NFT.
After all, you want to be safe well more specifically other things that you should be looking for when searching through different NFT projects. Well of course and that is why in this article this is exactly what I’m going to be answering to help you stay safe within the NFT space. We are going to be looking at a few key areas that you need to know about when you are researching to get into your next NFT project. Here is the list of 6 NFT Tips.
1- Check out the founders
2- Check the Whitepaper
3- Check the Roadmap
4- Check the Social Presence
5- Check the Community
6- Reach of the Project
Check out the founders
1st NFT tip is you should check out the founders. now, remember that these are individuals who have started the project and should be one of your main focuses. You need to also remember that you are actually investing in a human being behind the project and this is why transparency around this is absolutely key. Do you want to take a look at who they are? what was the experience? is it if they’ve worked on prior projects or something similar in the past? look at the project goals in particular and how they are going to be achieved, also have a look to see whether this is going to be something that’s going to be a quick flip or if these people are actually in for the long haul. In fact, since most of these projects have large communities on social media platforms like discord, you should be able to get hold of the founders here and hear directly from them about the project and even answer some of your particular questions.
Check the Whitepaper
2nd NFT tip is must check the whitepaper. What a white paper is? It’s a document that details the why and how of any particular project, it’s a crucial document when doing your research into crypto with any crypto for that matter, especially NFT projects because it’ll tell you why the project was started, what the problem is, what solution they are bringing to the problem. Some technical details around um the NFT project the coin the crypto whatever it is and I’ll give you a good background about the project team and where they are headed in the future. The white paper is crucially important when doing your research. You want to go to the official website download the white paper and really just take your time to read through it in order to have a decent and solid understanding of what these folks are doing and then obviously do your own research to see if this is something of interest to you.
Check the Roadmap
3rd NFT tip is to check the roadmap, Now when going through the whitepaper you’ll come across the roadmap and the roadmap should give you a very clear indication of where the project started, where it’s looking to go in the future and the specific goals and milestones along the way.
The company’s roadmap will help you understand if it’s really in for the long haul or whether the project is just looking to make some quick money.
Check the Social Presence
4th NFT tip is to check the social presence, Now, this cannot be understated the project must have good visibility and as such should be on various social media platforms. The most important of these days is discord, where most of these communities have a secure open dialogue. The platform usually allows you to speak and interact with some of the most important people around the project including the founder and his or her team.
This then provides a great opportunity to hear from the team themselves often giving you a little bit of inside information before it hits the market. These platforms should have a decent number of followers not a few hundred but like a few thousand sometimes tens of thousands and they should be active engagement on these platforms. So look out for these.
Check the Community
5th NFT tip is to check the community, The NFT marketplace is community driven and thus a good project should have a healthy community. The more honest and transparent the engagement that you see on these platforms the better its chances of success. You also want to see if the passion of the founders is actually coming through onto these groups and platforms, as this is a good indicator for the long-term viability of the project, but be careful as many groups just spam messages all the time to try and hype up the value or just create a lot of hype within the group so don’t fall for this.
Related: Passive Income: How To Make $100 Per Day With Cryptocurrency?
Reach of the Project
The last NFT tip is to check the reach of the project. You would be looking at the reach that the project and its community have. Who’s back in the project, are there any well-known folks supporting it, have there been any press releases, are there any influences talking about it or perhaps even involved in it, and has this project supported any charities? Now basically is the broader crypto community and public aware and perhaps involved or back in the project.
Related: How to Promote NFT Project? | NFT Marketing Guide for Beginners
These are a few NFT Tips you should follow. Well, guys let me know in the comments below how this has helped you and what NFT projects you have recently jumped into, you can even leave some of the projects in the comments if you want me to go and have a look or do some research around it and I can always create and build some content around these topics. If you are looking for the best NFT market place then you should check open-sea, also if you have more NFT Tips share them with everyone in the comment box.
NFTs have provided businesses and creators with a completely new range of opportunities. It enables ownership documentation for digital goods like music and art. Digital artists can use it to sell one-of-a-kind works of art online, and brands can use it to sell branded virtual goods.
1- First think about what you want to create.
2- Choose a blockchain.
3- Set up an NFT wallet.
4- Choose an NFT platform.
5- Create an NFT.
6- Choose an NFT marketplace.
7- List your NFT for sale.
Anyone can invest in NFTs, which is one of the benefits of doing so. Everyone has access to making investments in tokenized assets. When assets are tokenized into an NFT, ownership can be transferred between individuals more effectively and easily from one place to another.
You can make more money by selling your creations as NFTs. Almost anything digital can be created and sold as NFTs. In the past, original audio samples, movies, memes, songs, digital artwork, and many other things have sold for astronomical sums of money.
The most widely used type of NFT is art. Due to this, the artwork is the type of NFT that sells the best.
1- Check out the founders
2- Check the Whitepaper
3- Check the Roadmap
4- Check the Social Presence
5- Check the Community
6- Reach of the Project
