We understand that with so many projects to choose from, it can be difficult to choose one that you enjoy. Here are a few things to keep in mind to make the process go more smoothly.
1. Think about why you’re buying. Are you looking to purchase an NFT to use as a profile photo (PFP)? Is it, on the other hand, solely for artistic purposes? Is that something you’d put on your mantle? Maybe you’re looking for a piece of virtual real estate? Do you intend to keep the NFT for a long time? As you browse, ask yourself these questions to help you narrow down your search.
2. Analyze the project. Begin by visiting the project’s official website. This is a wonderful place to start learning about the founder’s motives and objectives (s). These days, many projects include a plan with numerous milestones. Is it plausible, or is it unduly ambitious? Check out the project’s social media as well.
3. The founders. Founders are typically responsible for a project’s vision, future, and success. The phrases “doxxed” and “undoxxed” need to be defined. Doxxed entrepreneurs have made their identities public, allowing anyone to look into their background and track record of accomplishment. The founders of Undoxxed have not revealed their true identities and frequently use aliases.
4. Join them in their Discord server. You may buy an NFT solely for the art, but don’t forget about the community. The easiest way to get a sense of the community and meet your fellow collectors is to check out the project’s Discord. Join the discord and ask the community and moderators questions. Are they friendly and helpful?
5. Explore the artist. Artistry comes in a variety of forms. Some artists are extremely talented and are just getting started. Others are experienced and have a track record of successful initiatives. Is the art, at the end of the day, making you feel something? Do you wish to lend a hand to the artist?
6. Features of rarity NFTs. Those are one-of-a-kind, and each one has its own rarity. NFTs that are more rare are usually more sought after. When you’re on a project page, you can see the attributes that determine rarity on the left hand bar.
7. Figures for the project (eg. floor price, volume, owners). NFT users frequently concentrate on the floor pricing. Yes, some projects may “moon” overnight, but other statistics like as volume and the number of owners should not be overlooked.
It’s pointless to have a collection with a high floor price and little volume. If this is a short-term purchase, taking into account the amount of customers purchasing and selling at any given time will be critical if you decide to sell. Similarly, in the case of profile picture projects (PFPs), projects with fewer owners may have a harder time acquiring traction and building a community.
Finally, there are other considerations to make while acquiring an NFT. In the end, most people appreciate NFTs for the art and delight they bring. Make sure to share your NFT with your fellow collectors once you’ve received it!
We understand that with so many projects to choose from, it can be difficult to choose one that you enjoy. Here are a few things to keep in mind to make the process go more smoothly.
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