The popularity of NFT is growing, attracting more and more investors and artists. Finding lucrative good NFT projects is becoming increasingly difficult in the stream of growing proposals. Let’s figure out what points to consider and what to look for when buying NFT.
How to choose NFT
The trick for making money at NFT is not to invest in art, but to invest in the purpose and story behind art. To truly profit from your NFT investments, you first need to make sure the investments are liquid enough so that you can easily sell your NFTs in the future.
Rather, you need to invest in the brand and company that create these NFTs. Random NFTs may have no future, and NFTs and collectibles from famous and emerging artists, illustrators, and developers may rise in value.
There is a curatorial selection on the marketplaces, assessing the cost and prospects of the collection. But you can study the topic yourself and follow the work of promising artists.
Also, NFT projects that have a community would be a very good investment choice, even if their art is not that well known. You can determine how big the community of the NFT project is by the number of followers on Twitter and social networks and by knowing the future goals and plans of the NFT project.
When choosing an NFT, you need to evaluate promising artists, illustrators and developers and monitor their work and progress. Here you need to have the knowledge and flair of an expert.
The secondary market for non-fungible tokens has surpassed the primary sales market several times, and exceeded the $ 15 billion mark at the beginning of December. However, not all NFTs are in demand and grow in value.
NFT projects with a large number of Twitter and social media followers are more likely to have more value. Collectors are really willing to invest in their projects and buy new NFTs, so the price of these NFTs is likely to rise in the future as well.
Thanks to this, you will not only be able to quickly sell your NFTs if you want, but you will also be able to make a profit. However, in order to turn NFT trading into a profitable business, you need to become an art expert and keep track of all new and promising projects. As a hobby, this direction will not generate permanent income.