NFTs – Let’s get started!
The best way to make money with NFTs is to get in early.
1. Get in on a Pre-White list or win a Free NFT.
2. Get on a White list or Presale to the Public.
3. Get in on the General Mint.
4. Get in early on the Post Mint, secondary market. Example for a platform is OpenSea.
5. Get in on a Sold Out older collection that hits a turning point and has extreme interest. (These will cost more – Example is Bored Ape Yacht Club currently with a 72 ETH Floor Price which is about $222,984 as I type this.)
Where to find new NFT drops:
Look on Rarity.tools, NFTCalendar, NFTdrops, NFTcatcher, and howrare.is for Solana NFT information.
What to look for in an NFT collection:
1. Do you like the art? Is it clean? Not too busy so that it can be used for a profile image? (Profile images are what most people want but there are many different reasons and types of NFTs)
2. Is it unique? Different from other collections? Is it verified on OpenSea with a Blue Check and when you hover over it with your cursor a message pops up stating Verified?)
3. Does it stand out from the crowd with a large community following on Discord, Twitter, Instagram and Reddit?
4. Is it a copycat of other Verified collections? Be careful, there are a ridiculous amount of fake, scams and Intellectual Property rip offs that will get Delisted by OpenSea and you will lose your investment 100%.
The Collection:
1. Does it have a great website?
2. Who are the founders? Are they listed or anonymous? What are their backgrounds?
3. Look for Founders that have a great chance of making this collection successful and look for quality art.
4. Check the social media for the collection including Discord, Twitter, Instagram and Reddit. Read what people are saying in the community that are not just emojis.
5. What is the Roadmap? Does it have a path to continuously increase value?
6. Are there free NFT competitions, Pre Whitelists, VIP or Founders Club opportunities, are celebrities or Athletes promoting the collection, (Be careful it’s not a Pump and Dump)?
7. Join voice chats for the collection on Discord. Listen to get an idea of the value people see in the NFT and if they will buy and sell or hold longer term. Mute your mike, respect others, don’t discuss whitelisting on the voice chats.
Spend your time researching what is vitally important to be successful in the NFT space!
Understand that you may get stuck with your purchased NFTs and may not be able to find a buyer when you go to sell them. Be careful of FOMO (Fear of Missing Out) as there is a lot of HYPE around NFTs. The media only talks about the successes and not the 1000x failures with NFTs.
Do your DD = Due Diligence.
Good Luck!
Jerry Lang
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