Looking for ways on how to find good NFT projects? If you are reading this then probably you are at the right place. With several new NFT projects in the market, it’s difficult to know which ones are worthwhile.
Here we will discuss different ways on how can you easily find promising NFT projects?
12 ways on how to find NFT early projects?
If you’re going to put your money into anything, it’s only natural that you spend some time learning about it. It takes some time to locate a solid NFT project in the NFT area, but if you are ready to put in some extra effort, your chances of how to find a good NFT project increase considerably. A good strategy is one that investors commonly use to assess company success:
- Stability (social, discord, influencers, etc.)
- Collaborative effort (people invested in the success of the project)
- Sales (number of sales and price change in the last several days/weeks)
Let’s go a little deeper into some of these elements to see how to find NFT projects early.
When it comes to finding NFT projects, Discord is a wonderful place to start, but it isn’t necessarily the most user-friendly. Every NFT initiative, group, or influencer will have their own Discord server.
Discord is a text/voice/video chat program geared toward communities, with servers that are largely private and invite-only. They stand out from other platforms because of their focus on communities with common interests.
Discord, like Twitter, is a small yet close-knit community. This platform will enable you to go deeper into projects and communicate with other members of the server.
Emerging project developers are introduced to captive audiences of early stage retail investors through crypto launchpads. They also play a key role in fundraising and assisting them in establishing themselves.
Launchpads come in a variety of shapes and sizes. NFT launchpads are a terrific method to find and invest in innovative NFT projects early on.
One of the most effective sites for identifying promising NFTs in the early phases is Twitter. The NFT community is very active on Twitter, with many well-known purchasers and influencers discussing various projects.
Following particular accounts, such as @bobbyquinn, can provide a wealth of analytical information regarding individual NFT initiatives and their performance.
There are also Twitter Spaces, where you can keep up with new releases from verified producers and see what’s trending in real time.
It is an Ethereum-based AI-powered blockchain analytics application. It adds easy-to-remember wallet labels to on-chain measurements. Nansen assists customers in identifying new investment opportunities, conducting due diligence, and setting up custom alerts to protect their portfolio positions.
Nansen also goes into great detail about notable wallets’ on-chain behaviour, activity, and transactions. Analyzing the movements of whale wallets can help you spot great NFT initiatives early on. The larger the percentage of prominent wallet funds diverted to a project, the higher the project’s predicted profitability.
New NFT developers frequently use Twitter as their first marketing platform. You may follow significant figures in crypto, who are generally among the first to follow new NFT developers on Twitter, by using follower trackers like FollowLiker.
Whotwi reveals who a certain Twitter account follows, in order of most recent follow date, and goes beyond what Twitter gives you. You can utilise their follower lists to look for other NFT projects they’ve funded or followed once you’ve found suitable producers.
It’s a premium Ryzen Labs product that allows you to quickly locate NFTs that are drastically discounted. It features an excellent Chrome extension that allows you to see rarity rankings for certain NFTs on marketplaces like OpenSea in a matter of seconds.
RyzeNFT also features a sniping feature, which allows you to set a maximum price for undervalued NFTs as soon as they are minted and go online. Ryze is pricey, costing 1.35 ETH, but because it is marketed as an NFT, you can resell it whenever you want.
Icy. tools is an NFT tracking and analytics tool that aids in the early detection of valuable NFT initiatives. It displays real-time mints, the most popular collections, market patterns, and NFT indicators such as floor prices, traded volumes, and transaction histories.
The development team is always working on new NFT alpha toolkits to improve data feeds, token analytics, and NFT market watchlists.
Based on trade volumes, the largest NFT exchange ranks projects on Ethereum, Klaytn, and Polygon. It also shows the floor price of each project, the number of unique owners, and the total quantity of objects in the collection.
The OpenSea activity tab, meanwhile, shows live sales of individual NFTs, with the most recent sale at the top. Monitor a project’s sales activity by selecting the appropriate filter to see the resale frequency and last selling price of individual tokens in the series. High-profile enterprises typically exhibit all-time average price and sales graphs.
9. Look at the Project’s Roadmap
Checking the roadmap of an NFT collection is one of the greatest ways to see if it’s any good. This is a key aspect of each new NFT project that goes live, as it displays all critical dates, such as airdrops, new events, and the creator’s collection plans.
The BAYC roadmap, for example, included dates for events such as their Annual ApeFest, the launch of a new game and new models, as well as major milestones. Collaborations and partnerships are also listed by other NFT developers, giving you an idea of the project’s duration.
Ideally, you should avoid investing in an NFT project with a short timeline and a lot of unachievable goals. For example, if a project promises a slew of free airdrops and advantages within the first few weeks of its launch, the developers are most likely planning a rug pull.
10. Rarity. tools
The rarity of an NFT is the most important factor in determining its market price. The higher a generative art token’s or collectible’s rarity, the higher its resale value and profit potential.
Rarity.tools is an excellent tool for calculating an NFT’s rarity score. Every collection is arranged in descending order of rarity scores, with the NFT rarity score being rated first, and so on.
To generate an NFT’s aggregate rarity score, Rarity.tools adds up trait-wise rarity ratings. It also makes relative analysis of individual tokens from the same collection easier. On rarity.tools, you may estimate the future return-generation potential of “just-arrived” projects by looking at their rarities.
11. Online NFT Calendar Websites
NFT Calendar is a premier website for identifying intriguing NFT projects early. It is a pioneer in publishing marketplace-wise drop calendars featuring Newest, past, ongoing, and forthcoming NFT releases. It promotes NFTs that are hosted on a variety of blockchains, including WAX, Solana, Ethereum, and others.
NFT drops with a certified badge are generally considered more dependable than unverified drops because they come from the stables of branded artists. As a result, the increased demand and build-up for validated initiatives inflates their perceived values. To get early access to lucrative NFT collections, sign up for the NFT Calendar email newsletter.
12. NFT Project Research
Detailed NFT project research aids in the identification of good NFT initiatives prior to their formal minting stage. The project’s official website is the best spot to start your early research. The following would be included on the website of a potentially profitable project:
- A description, backstory, vision, mission, creators, artists, and roadmap for the project.
- Tools for the community.
- A system for distributing tokens.
- Benefits for members.
- Access to collection galleries, member-only virtual areas, and other resources.
- Provenance information.
- The terms and conditions of the project.
- Information security policy
- Frameworks for governance and voting
- Links to the project’s social media accounts and the smart contracts that underpin them.
- Important updates on technology, derivative works, marketplace listings, presales, and auctions, among other things.
Trending topics of the week: How to Sell Music as NFT
Signs of a successful NFT project
Let’s look at some basic components that constitute signals of a good project now that we know where to find new NFT projects and what to look for in one.
- Active online community (@LazyLionsNFT excels at this)
- 10k Discord members
- Strong project plan
- Multiple sales in the last few days, with the floor price climbing
Who’s backing a project is certainly a solid clue that it’s worth investigating. Global superstars or influencers, such as @StephenCurry30, who purchased four @RumbleKongs, standing behind and purchasing an NFT. Although this is a positive indicator, proceed with caution. NFTs are frequently given to celebrities in order to make the project look nice.
Another helpful clue to look into is when they do things that are out of the ordinary. @FastFoodPunks earned $600,000 for charity, gained a lot of traction in the NFT community, and is now considered a Blue Chip NFT project. They also received a lot of mainstream coverage for their initiative.
- To keep track of updates, turn on your Tweet notifications for each project you follow, as well as their sales bots.
- Check in on each project’s Discord to get a sense of how the hodlers feel.
- Examine the sales page as well as the floor pricing. Dips are fine, but you’re looking for some movement.
As you can see, there are numerous components to investigate. Many newcomers to the NFT arena will be drawn to the project’s identity. The project — or, as I prefer to refer to it, the brand — is unquestionably one of the most significant aspects of the NFT puzzle. The brand is what attracts customers and maintains its assets in high demand.
How to Find Upcoming NFT Projects?
If you’ve ever invested in NFTs, you know how difficult it can be to locate decent projects. The great majority of NFT ventures are bad investments. The majority of individuals lack the skills and resources necessary to create high-quality art, music, and other types of digital entertainment.
- Poor design
- Unengaged team/rug pulls
- Inconsistent quality
- Limited utility or unclear/absent purpose
- Poor community participation (bot-filled social media groups)
So wherein do you start? Well, if you’re like maximum people, you likely browse thru the trending NFT collections on systems like OpenSea or Rarible. However, with there being hundreds of recent initiatives pumped out at the regular, this method falls short.
Another popular strategy about how to find upcoming NFT projects is to follow crypto celebrities. You can follow on Twitter or Instagram and search for their username in NFT projects they’ve endorsed.
This method has its limits too though; if the crypto superstar doesn’t put up a lot content material approximately NFTs, then this approach won’t paintings thoroughly either.
Further, there can be conflicts of interest and uncertainties with whether a project will take off.