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    What to look for in a good NFT project

    Do you have any experience with NFTs? Don’t know where to start or what to look for when purchasing one? What distinguishes successful enterprises from unsuccessful ones? Who do you think you should be paying attention to?

    You’re probably reading this because you’ve been looking around the NFT area and community and have some queries. Some of these “pictures” marketed as “NFT” sell for a lot of money on a daily basis… and I hope this page may assist you in navigating the site.

    What is an NFT?

    Let’s take a step back and start from the beginning before we go any farther. NFT stands for non-fungible token, which means that the data underlying these works of art is kept on a digital ledger in unique and non-interchangeable units. To demonstrate evidence of ownership, these are backed by blockchain technology. NFTs are collected digital assets that have real worth, just as traditional works of art.

    It is critical that you all conduct your own research, as with any other investment strategy. Please don’t take what I write below as gospel. I’m not an expert in the NFT space.

    Start early, end big!

    It can be challenging to find financially good NFT initiatives. There are many things to think about and many locations to look. Hopefully, this has helped you narrow down your options.

    Twitter

    Without a doubt, Twitter is the king and the home of NFTs. It’s one of the finest venues to hear about upcoming initiatives, meet new people, and keep track of ongoing projects. It’s really easy to find projects on Twitter, and it’s also a great location to sell your own NFTs and collectibles.

    Using the hashtags #NFT, #nftart, or #NFTCommunity on Twitter will lead you down the NFT Twitter rabbit hole, where the NFT community is very active.

    Using influencers and other NFT thought leaders to determine which initiatives they are watching and interested in can be quite helpful in determining which projects are good. This is the place where everyone can chat about their favorite and least favorite projects, as well as what they’re purchasing, holding, and selling.

    Discord

    Although Discord is a terrific location to locate NFT projects, it is not necessarily the most user-friendly (how to use Discord). Every NFT initiative, group, or influencer worth their salt will have their own Discord server. Discord is a text/voice/video chat tool geared toward communities, with servers that are mostly 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 delve deeper into projects and communicate with other members of the server.

    RyzeNFT

    RyzenNFT is a Chrome extension created by the Ryzensolutions team with the goal of making your life easier in the world of NFT. Despite the fact that this “add-on” is more expensive, you will undoubtedly get a lot of value for your money. Why? This add-on includes a rarity sniffer, a drop detector, autoclick, token finder, and much more.

    OpenSea

    OpenSea is one of the most widely used web3 peer-to-peer NFT marketplaces for buying, selling, and creating NFTs. Users may keep an eye on OpenSea’s operations, as well as trends, sales, and recurrent collections.

    Nansen.ai

    Data is king, as we all know. Using data to locate the next hidden gem can be a terrific way to go. Nansen is an Ethereum analytics tool that integrates on-chain data with a vast, ever-growing database of millions of wallet labels. Jacob Van wrote an excellent blog post about how to get the most out of Nansen, detailing how Mevcollector transformed 11ETH into 862ETH in under 33 days.

    With easy-to-understand graphs and analytics, you’ll learn how to leverage data to your benefit. You’ll be able to observe what the most powerful purchasers in the market are purchasing and holding, create alerts, and much more.

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