We all remember the times when grass was greener and collections were selling out in the first couple seconds of the sale - the situation changed now, so choosing an NFT, that has potential has become a pretty complicated task. Let’s see what criteria do our experts follow:
The idea:
Dozens of copy paste collections and tokens don’t surprise anyone right now, but if there is something bigger behind the project you might give it a go. It may be some protocol, using the NFTs as it’s part, maybe a game (notice that many founders promise a game in the near future, but only a few of them didn’t vanish after the token sale). Anyway, look for something creative.
The artwork:
We always forget what was NFT originally intended for - art. Cheap artwork can be noticed immediately and probability of such projects’ success is incredibly low. No one needs a low quality picture of a no name entity on their crypto wallet.
The social media:
Discord and Twitter can say a lot about the community of the project and community are the people, who will potentially make the NFT raise in price because of demand. You can check Twitter activity with services like Followeraudit.com or twitteraudit.com. However, Discord must be monitored manually: active topic discussions, 40%+ server online rate and responsive moders are all signs of an interested community.
Quantity:
When combined with three criteria, given above quantity means a lot. Inflation works with NFT too, so the less tokens are sold - the higher chances of price growth they have.
This collection is a great example of a wise token distribution, when 7,777 pieces overall are sold separately in smaller portions, making an artificial demand.
Clear papers:
Easy to read and certain documentation along with clear goals in the roadmap show that founders have serious plans about the project and won’t stop developing their ideas any time soon.
Here is an example of a well done, yet not perfect roadmap with precise events, attached to collection sale volume.
According to this five tips you must be able to find promising NFTs much easier. How to resell your non fungibles is a separate topic, to which we will get back a bit later. Stay tuned!
You can also find similar articles about profiting from ICOs and IDOs and profiting from free drops in our blog.
