So it can be difficult to find a good NFT project that will give you an easy 10x return.
But it's not impossible; all you have to do is focus on the fundamentals of NFTs and it'll be a piece of cake.
So, before wasting any more time, let’s jump into our first point.
How do you find new projects that are about to be launched?
Now, some people on my watch have recently been incredibly lucky to 10x their investment, and the only reason for this was Twitter.
I'm not claiming that this is the best or only way to do it;
But, I am just giving you an idea of what people have been doing and what is working quite well for the masses.
So, after joining Twitter, you should start looking for artists who are rapidly growing and whose projects are receiving a lot of attention in the NFT space,
Let's take a look at this NFT project called bears club. Bears club is a CNFT 3d club simulation game project and it is currently followed by some notable accounts such as ada whale, cardano feed, liqwid, and many more, which is a pretty good thing.
It has recently sold out in just 33 hours and it hit 10k ADA trading volume,
What should you look for in an NFT?
First and foremost, you should be looking for its utility, and I think Utility is one of the most important factors for an NFT project’s success; it gives value to that NFT project,
Then you should look for a proper use-case, whitepaper, and roadmap, and most importantly, you should look for a vibrant and active community of the project.
I have taken the example of bear NFTs before, I am not saying that this project is very good or bad or anything, I am just giving you an idea that how you can get an idea to know early NFT projects, so do your own research before investing.
Now one more thing you should keep in mind is, you have to be very careful when you do research.
Like, if you come across a few months old Twitter account with tens of thousands of followers, they may be fake because they may have purchased the followers through other means.
So keep this thing in mind.
How to become a member of a community?
The answer is Discord.
So discord is a bit intense and can be frustrating at first, but if you know the ins and outs of it, it is a place where big discoveries can be made.
So the first thing you have to do is, you have to join the discord and search for NFT projects that you have narrowed down from Twitter,
Let’s take the previous NFT project bear club for example,
As you can see, they have given some basic information about their project,
Like, they have 1600+ club members, all of the NFTs are currently sold out, minimum price was 15 ADA with the total supply of 10000,
And beneath that, there are specific topic channels; if you want you can check them according to your need,
Now, what you have to check before moving forwards,
Few things, like,
How active is their Discord channel?
How much have their discord channels grown?
How do people feel about the project?
What’s their planning to promote it, and
Project developers are present regularly or not.
So, these are some basic questions you should be searching for, in an NFT channel.
And once you have positive answers to all of these questions, you can proceed to the next step.
How to check the rarity of any NFTs?
There are many tools available in the NFT space where you can check the rarity of any NFTs.
I am more active on Cardano, So, I like two main rarity tools in CNFT space, which I want to share with you.
The first one is tokenref.com
It is one of the most used CNFT rarity tools, and it gives you a whole bunch of information about CNFTs.
As you open this website, a list of all of the major CNFT projects which are available in the Cardano ecosystem will come in front of you,
All you have to do is find a particular NFT project and visit its link.
This is the most important site where you can track all the magic of CNFTs,
Its user interface is a little childlike but it is the most used site to check all the data related to NFTs in Cardano.
So these are some of the best tools which will surely help you to limit your search and save 100s of hours.
If you combine all of these tools, and techniques you will surely land on some of the best NFT projects which will give you easy 10x returns in a very short span of time.