How I'm picking which #NFTs to buy:
Let's take @opensea for example, but you can use the same approach on @rariblecom or even @niftygateway
Let's get into it:
Let's take @opensea for example, but you can use the same approach on @rariblecom or even @niftygateway
Let's get into it:
1. Have funds ready. Accommodate for gas and potentially purchasing more than one #NFT . If you come across a deal, those precious moments transferring ETH could cost you. If you realize that it might be HOT, then you can get 2 or more.
2. Price range? Right now there are several awesome collections dropping daily and it is tough to gauge how much spend. Remember you may want more than 1.
A good entry point for an un-established NFT:
0.01-0.08 ETH.
If they are moving: 0.1-0.3E
If they have sold out: 0.3-0.5E
A good entry point for an un-established NFT:
0.01-0.08 ETH.
If they are moving: 0.1-0.3E
If they have sold out: 0.3-0.5E
2. (cont.) Anything that has hit 1ETH+ is a serious investment for a small-mid collector and should be considered. This is where you can lose by getting too excited. If it's going to wipe you out to get 1 NFT, REALLY THINK ABOUT IT. @CyberKongz are a good example of ape-ing late.
3. Gauging a collection (Part 1)
Ok you have ETH and you have a collection you're excited about that is IN your price range, WHAT NEXT?
a. Goto the collection landing page and get the lay of the land.
b. Check twitter account or website listed for a sense of community support
Ok you have ETH and you have a collection you're excited about that is IN your price range, WHAT NEXT?
a. Goto the collection landing page and get the lay of the land.
b. Check twitter account or website listed for a sense of community support
3.c.
Once you feel good about the project and have checked community tie-in. Then you are ready to check the actual #NFT value prop.
Always look under the name for stats:
1-5 Owners (still new or not moving)
10-20 Owners (new-ish, but moving)
20-50 Owners: (moving and healthy)
Once you feel good about the project and have checked community tie-in. Then you are ready to check the actual #NFT value prop.
Always look under the name for stats:
1-5 Owners (still new or not moving)
10-20 Owners (new-ish, but moving)
20-50 Owners: (moving and healthy)
3.d.
Feeling good? Now check "ACTIVITY"
This gives you a good sense of whats happening with the project.
Use the left sorting eg. "BUY NOW" to get even more info.
(If something hasn't sold in days, it's a sign to research more - DON'T GET FOOLED BY tons of "Listings")
Feeling good? Now check "ACTIVITY"
This gives you a good sense of whats happening with the project.
Use the left sorting eg. "BUY NOW" to get even more info.
(If something hasn't sold in days, it's a sign to research more - DON'T GET FOOLED BY tons of "Listings")
4. Okay. Your prospect checks all the boxes and you are confident about making a purchase. NOW WHAT?
Head over to the collection and hit "VIEW ALL"
Once on the grid, use the right/left side filters to select your criteria. For example "CHEAPEST" and on the left "BUY NOW".
Head over to the collection and hit "VIEW ALL"
Once on the grid, use the right/left side filters to select your criteria. For example "CHEAPEST" and on the left "BUY NOW".
5. You've selected the #NFT and you're on the single item page:
Now scroll all the way down and check TRADING HISTORY. This is a good way to tell if
a. someone bought/flipped
b. creator just dropped
c. Listed and re-listed (price drops)
Now scroll all the way down and check TRADING HISTORY. This is a good way to tell if
a. someone bought/flipped
b. creator just dropped
c. Listed and re-listed (price drops)
6. Nearly there!!
Use the bottom left accordion to unfurl info about the NFT/collection. Keep an eye on:
a. Cool/rare traits (Click a trait to see the set of all the ones with that trait.)
b. Limited quantities, bonding curve pricing
c. No traits make me research MORE.
Use the bottom left accordion to unfurl info about the NFT/collection. Keep an eye on:
a. Cool/rare traits (Click a trait to see the set of all the ones with that trait.)
b. Limited quantities, bonding curve pricing
c. No traits make me research MORE.
7. FINALLY. Once you are satisfied with all the above, you are ready to buy. Last tips:
1. Don't overpay for gas.
2. Slow gas or many people trying for the same NFT could fail out (and you'll lose the ETH)
3. Double-check that you are OK if you can't FLIP or have to HODL.
1. Don't overpay for gas.
2. Slow gas or many people trying for the same NFT could fail out (and you'll lose the ETH)
3. Double-check that you are OK if you can't FLIP or have to HODL.
KONGrats you are PRIMED!! Perhaps you've APED or maybe you were first to the spoils. Either way, once you've scooped your bag, BE KIND and SHARE with your community.. the more action and love on a project, the better.
HAPPY SHOPPING!!
#NFT #collectors #tips #strategy #community
HAPPY SHOPPING!!
#NFT #collectors #tips #strategy #community
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