NFT projects are a dime a dozen, making it difficult to identify the ones worth investing in. Most NFT collections are only worth as much as the hype surrounding them, so getting into a project early is a key way to profit. However, investing early into an NFT project can be a double edged sword. The right projects may bring you tremendous gains, but the wrong ones will leave you with nothing.
How To Find Good NFT Projects?
1 Scour Twitter
Twitter is one of the best places to find hidden-gem NFT collections. Twitter can be confusing, but learning how to use it effectively can help you identify trends and follow some of the most influential people involved in the crypto space.
The NFT community is incredibly strong on Twitter, enabling users to keep up with the latest news and announcements, receive curated lists of upcoming events, and even participate in live Q&A sessions.
2 Join A Discord Community
Discord is another great source of information for discovering upcoming NFT collections. The platform allows you to connect with fellow collectors and even find out about upcoming NFT launches. Additionally, certain NFTs provide access to exclusive Discord servers where new projects and NFT drops are announced. There are many different types of Discord servers, including ones dedicated to specific creators, events, or certain themes.
The most popular communities tend to be those where people discuss upcoming releases. If you want to know what’s coming next, join a few of these groups and start engaging with its members. They’re likely to give you some tips on how to prepare for the release date.
3 Navigate The Open Seas
OpenSea is the largest marketplace for buying and selling collectible digital assets. The site allows users to browse listings of thousands of collections, including both digital and physical assets. Users can also find out how much collectors are willing to pay for certain items, and even make bids for items directly through the site. In addition, OpenSea also includes tools for tracking prices over time, viewing historical data, and analyzing the market trends of individual NFTs.
4 Don’t Trust, Verify
Using NFT analytics tools can help you filter out the projects with actual hype behind them. Several websites allow you to track NFT performance, including Oxalus, NFT OnChained, BitDegree, and Moby. These platforms offer metrics like floor price, rarity, transaction volume, and more to help you better understand the NFT, the collection it belongs to, or even the market as a whole.
5 Check Out NFT News & Resources
Due to market and community sentiment, staying on top of the latest ongoing trends is vital to succeeding in NFTs. News aggregators like CoinMarketCap and CoinGecko offer dedicated sections for NFTs and list the latest updates about various projects. You can also find resources such as guides, tutorials, and analyses that help readers better understand how the NFT industry functions.