Non-fungible tokens (NFTs) are blockchain-based digital assets that can be bought and sold. NFTs can be sold on various blockchains, including Ethereum, Zilliqa, and Solana, and have grown in popularity in recent years. Certain projects, such as the Bored Ape Yacht Club, have sold for millions of dollars.
With so many new NFT initiatives on the market, it’s critical to understand which ones are worth investing in. But, with so many NFT projects in the works, how can you separate the wheat from the chaff?
Our concise guide on “How to Find NFT Projects Early” assists you in maximizing your NFT investment profits!!
You’ll learn how to find hidden NFT gems, when to enter the NFT market, and how to determine whether an NFT is worth purchasing.
- What Is a Non-Fungible Token (NFT)?
- How to find NFT projects early
- How NFTs Work
- How to discover the Most Successful NFT Projects
What Is a Non-Fungible Token (NFT)?
Non-fungible tokens (NFTs) are cryptographic assets on a blockchain that are distinguished by unique identification codes and metadata.
They cannot be traded or swapped at equivalency, unlike cryptocurrency. This is in contrast to fungible tokens, like cryptocurrencies, which are identical to one another and can thus be used as a means of exchange for commercial transactions.
The realm of NFT is still in its infancy. In theory, NFTs can cover anything unique and require verifiable ownership. Here are some current examples of NFTs to help you get the idea:
- A domain name
- A ticket that gives you access to an event or a coupon
- Buy real-world goods
- Fractionalized real-estate
- Degree Certificates
- Music royalties via NFTs
- A unique digital artwork
- A unique sneaker in a limited-run fashion line
- An in-game item
- An essay
- A digital collectible
How NFTs Work
NFTs are created by a process known as minting, in which the NFT’s information is broadcast on a blockchain. At a high level, the minting process involves creating a new block, validating the NFT’s information by a validator, and recording the information.
This minting procedure frequently includes incorporating smart contracts that assign ownership and control the NFT’s transferability.
Tokens are issued with a unique identification that is directly connected to a blockchain address. Every token has an owner, and the owner’s information, such as the location where the token is stored, is available to the public.
Even if 1,000,000 NFTs of the same project (such as general admission tickets to a music festival) are printed, each one has a distinct identity and can be distinguished from the rest.
How to Find NFT Projects Early
You can use many apps and NFT marketplaces, calendars, and platforms to identify an NFT project early on, such as:
1. Nifty Gateway Marketplace
Nifty Gateway is well-known for its exclusive deals. Purchases are free, but sellers must pay a 5% commission and a $0.30 transaction fee. You must open an account and purchase a wallet, but purchasing digital assets is optional.
2. SuperRare Marketplace
SuperRare is another excellent option for unique crypto art marketplaces. Here you will find a chosen selection of digital artwork created by well-known artists and creators. You must register with SupreRare, search for projects, and utilize your digital wallet for NFTs.
3. NFT Calendar
NFT Calendar is the first Calendar in the NFT Universe. They cover the most major launches, significant events, and eye-catching drops. If you want to know how to find NFTs early, use the NFT calendar provided by Business2Community and NFT Calendar, which provide details for the future weeks and months.
YouTube recently stated that it is expanding into NFTs to allow users to “own” films created by creators. You can use several channels on YouTube to keep your finger on the pulse. Consider the following channels: NFT Zerk, Ryan D Crypto, Kosher Plug, Bento Boi, and Champ Crypto.
5. Com App
This platform is based on the Crypto.com blockchain and charges no purchase transaction fees. Search for new future projects on the “Drops” page. Subscribe to the email list to receive updates when the drops become live.
6. OpenSea Marketplace
In terms of asset selection, this is the largest NFT marketplace and the most frequently used source. Its monthly trade volume is measured in billions of dollars.
Every transaction cost OpenSea 2.5%. You must create an account and use “Explore” to do research and browse rankings to determine which projects are popular.
Binance is one of the world’s leading cryptocurrency exchanges. You can benefit from its diverse asset portfolio and high daily trading volume. When making a purchase, the marketplace charges a 1% transaction fee. Sign up for an account, create a wallet, and look for suitable projects.
8. Rarible App
Rarible is another useful site for staying up to date on new releases. You can only purchase its web-based platform right now. In terms of fees, both buyers and sellers must pay a 2.5% fee for purchases.
To purchase and keep your digital assets, you must first sign in to Rarible by synchronizing your wallet.
Investigate the information available on Twitter. Many online artists use Twitter to promote their creations and collections, so follow them to stay up to date on new releases. Alternatively, you can use several Twitter accounts that notify their followers of exciting projects in real-time.
10. Discord App
Discord is the most popular invite-only software NFT supporters use to develop a community. To utilize Discord, you must first establish an account, join the Discord server of a project, unlock your server permissions, and select a communication channel.
This is how you can meet like-minded people and hunt for projects with better involvement.
How to discover the Most Successful NFT Projects
Consider the following factors while selecting a good NFT project:
- Quality of design
- Established development team
- A large number of followers
- Engaged online community
- High trading volumes
- NFT rarity
- The current value of that non-fungible token
- Which platforms is it available on
- The collection roadmap is essential to new NFT initiatives that go live. It displays crucial dates such as airdrops, current events, exclusive perks and prizes, the creator’s ambitions, and, on occasion, collaborations and partnerships.
Top best NFT Projects
Below are some of the top NFT projects:
Gary Vaynerchuk, a well-known marketing expert, launched this project (GaryVee). These non-fungible tokens are works of digital art, and each “character” embodies characteristics that GaryVee admires.
The 10,255 tokens are separated into categories: eight uncommon, five extremely rare, and two epic tokens in the limited group.
The gift token category has additional benefits. One of the tokens, for example, allows consumers one-on-one sessions with GaryVee in New York City. Another token gives the user six physical presents over the course of three years.
CryptoKitties was the first blockchain-based game, debuting in 2017. CryptoKitties members, like Axie Infinity users, purchase, sell and breed unique digital cats. Ubisoft and Warner Music Group also support CryptoKitties.
CryptoKitties were sold for a total of $21 million as of October 2020. Due to the high volume of transactions, the company switched from the Ethereum network to its own private blockchain, Flow.
Autograph.io, commonly known as Tom Brady’s NFT platform, is based on sports. This startup sells popular athlete-related non-fungible coins. Tiger Woods, Wayne Gretzky, Tony Hawk, and others have joined forces on this project.
In addition, Autograph’s NFTs are individually signed, making them one-of-a-kind. A signed Brady NFT is presently being sold for $4 million.
Users in the Axie Infinity game can buy, collect, and combat Pokemon-style monsters. The game allows you to breed in-game critters and sell them for real-world cryptocurrency. Some Axie Infinity NFTs have sold for $600,000.
Mark Cuban and other investors contributed $7.5 million in Series A funding to the game. Axie Infinity also obtained investment from Ubisoft and was valued at $3 billion in October 2021.
Decentraland, an online world based on the Ethereum blockchain, allows users to create avatars and purchase plots of virtual property. In this case, all digital assets, like clothing, cosmetics, and land, are structured as non-fungible tokens.
Between 2020 and 2021, Decentraland enjoyed massive growth, with a 1,300% rise in user base.
Non-fungible tokens are one-of-a-kind digital representations of assets that exist on a blockchain. As the world investigates how distributed, immutable ledgers might make transactions safer and speedier, NFTs play an important role.
These assets have a preserved transaction history and the potential to expedite commerce and are a cornerstone in the rising digital world.
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