Getting Started with NFTs
There’s no set rule for finding the right project for you, but figuring out how to identify successful projects and keeping up with the latest trends is a good place to start off and will pay off later on.
When getting started with NFTs, there are a few simple rules to stick by: figuring out what you like, doing your own research, and never spending more money than you can afford to lose.
To stay up to date on upcoming launches and fully understand the NFT space, make sure to join communities and follow different creators. The early bird gets the worm in crypto, so spend some time paying attention to what’s going on and keep a finger on the pulse of the market. Project’s usually announce their mint dates, times, and prices a day or two before release. By actively participating in communities, you may also get access to pre-mint spots to mint the NFT before it’s released to the public.
Twitter is one of the best places to keep up with and discover new NFT projects by following leaders in the space and finding communities. When NFT influencers and thought leaders are showing interest or following certain projects, it’s usually a good sign. It’s important to follow and find people that you can trust. To help you get started we made a list of some of our favorite influencers (insert link).
Another great place to find NFT projects is visiting marketplaces like Open Sea. Here you can see top collection rankings, while keeping an eye on activities and trends.
Most projects also have active Discord communities where you can dig deeper to get a sense of how the community is run and if it’s something you would like to be apart of. On top of that, to stay informed you can also visit websites like Coindesk and NFT related media outlets.
The Roadmap/White Paper: A strong project roadmap or white paper should include the project’s milestones, goals, future plans, and a clear strategy on how they will accomplish this.
The Founding Team: The success of the project relies on the skillset and experience of the founding team. They will need to build trust and prove that they’re in it for the long haul, not just a quick flip, and that they’ll be able to achieve what they set out to do.
Socials: It’s not just the number of followers that’s important, but building traction and creating conversation around the project to onboard more owners. Also pay attention to activity levels and which NFT influencers and thought leaders are following the pages as a good indicator if the project has potential to succeed.
Community: Owning an NFT allows you to be a part of a community, highly engaged communities are usually a good sign for a successful project. This also creates a culture where people are proud to support the community, be active members, and rep merch.
Remember to do your own research once you find a project that you’re interested in. Finding profitable projects can be difficult, so make sure to check out its website, social channels, and community before investing.