How to Find NFT Projects Early
The world of NFTs is growing exponentially, and there is an increased demand for them from all corners of the world. As a result, the NFT sector is experiencing widespread adoption. Furthermore, the development of the metaverse and its integration with NFTs has caused multiple retail and large-scale investors to search frantically for these new digital tokens. According to information on CoinMarketCap, the entire NFT sector has risen to a valuation of about $2.4 billion as of December 2022.
The NFT sector has come a long way, and there are now million-dollar sales happening consistently. However, more than 57% of this total amount is gained from direct primary sales. What this means is that you could enjoy more benefits from spotting NFTs early and investing some money into them. When you can spot good projects early, it’s possible to make a nice profit from them. However, this comes with a lot of risks, with the ability to lose all of the value you put into the project. But will all NFT projects thrive? Without any doubt, some NFTs will fall short of their expected valuation. This fact makes it more important to spot these projects early on and to stick with the ones you have conviction in. So, how do you identify the best digital tokens that will reward your investment in the long run? Keep reading to find out.
In this piece, you’ll learn the most effective ways to scout NFT projects.
For a long time now, Twitter has been the perfect spot to get first-hand information on various NFT projects. There are many NFT communities on the social media platform. Here, you’ll learn about what the popular influencers are discussing. People will also openly declare their opinions on certain projects, including the non-fungible tokens in their possession. Some popular Twitter influencers to follow and get up-to-date information on the latest projects include: Farokh Sarmad, Deeze, MEV Collector, RealMissNFT, Beanie, Gary Vaynerchuk, and many more. You can also follow owners of famous projects to understand what they are interested in, such as Bored Ape Yacht Club or CryptoPunks.
The information provided by each influencer will vary, and it’s worth reviewing each account to decide if its content corresponds with what you are looking for. For instance, some accounts, such as Bobbyquinn, use an analytical approach to determine the prices of NFTs. In contrast, others like BAYC offer regular updates on any particular project’s activities.
There is also an active interest in NFTs on YouTube. There are many YouTubers, such as Giancarlo buys tokens, Brett Malinowski, ZssBecker, Crypto Stache, Voskcoin, and The Bitcoin Express, that have designed their channel to update viewers on events in the NFT space regularly. The content of their videos includes news on big projects and big-money sales in the NFT market, including the latest releases. Stay connected to these crypto YouTubers and more to identify the next big NFT project quickly.
Telegram also has an active community of NFT enthusiasts who update crypto groups and communities on the NFT space. A good example of a group/community that regularly updates on NFT development is Quora Inner Circle. There, you’ll read interesting details about the latest NFT sales, purchases, and, most importantly, new NFT gems that could get a decent ROI on in the long term. Community members interact with each other for a personalized experience with camaraderie.
Rarity Tools is an innovative website and an effective way to identify freshly minted non-fungible tokens. You may also discover some rare tickets that are still underpriced. There is also a mints calendar on the website that will give you up-to-date information on updates to look forward to on the NFT market. That way, you know what’s coming and how to prepare for it.
Rarity Tools is a great research tool that will help you find underpriced tokens in any collection. All you have to do is pick the group you are interested in and navigate through collections that are yet to be sold. While this isn’t a foolproof guide on NFT Investment, this platform is a free tool with many features that can help you spot good tokens projected to do well.
Another platform that can help you identify NFT projects early is DappRadar. An interesting thing about this tool is that it lets you find potentially underpriced NFTs via a simple interface. What’s even better? There is a chart on the platform that shows the top NFT collections globally, including their basic information. The website is packed with information on NFTs supported on different blockchains. DappRadar is a one-stop spot for all information on NFTs. You’ll also find blog posts on happenings in the world of these unique digital tokens.
PlayToEarn is a valuable tool for identifying potential gold mine NFT projects in the gaming sector. This website is the world’s first blockchain games list, and it contains vital information on numerous crypto and NFT-based games. NFT and crypto enthusiasts play these games to earn rewards in cryptocurrencies and non-fungible tokens. This tool includes a list of market data on each game. You can also filter your game search based on specific parameters.
The NFT space is on fire, and many underpriced gems will emerge shortly. There’s no doubt that investing in NFTs is profitable, but you have to find the right token or collect it early. You can use the information on any of these tools to spot great projects.
Make sure to join their community and do your own research (DYOR) before making a final decision.