Below are 2 basic (very practical) steps in finding profits with NFTs, which I learned from leading #NFTs traders.
1️⃣Step 1: Search for projects that always attract attention to the community
Content: NFT projects need to have diverse and interesting content, guaranteed to often appear on investors' "news feeds". There are a few projects that do this very well (Azuki, degods,...), when searching for the keyword NFT you can see a lot of articles and content revolving around these collections.
Brands are very good at creating content Founder: has a large number of followers, shares often => can bring a lot of attention to his NFT project.
Community: The value of pfp collections comes from the number of people using them and posting on social networks, so this factor needs to be considered carefully.
Narrative: Collection related to hot narratives on the market. For example, when Facebook restructured into Meta => created Metaverse narrative => Investors rushed to find NFT projects with this keyword.
Gaming: it's difficult to maintain attention without great products. Among them, a fun game will usually attract the most attention. For example: Otherside
After choosing a collection that meets the above criteria, choosing the time to buy/sell that collection will determine your profit margin.
2️⃣ Step 2: When to buy? When to sell?
📍Buy when BTS hype is low.
1-2 months later 1 big news of the collection - the price has dropped and people are talking about it less.
📍Buy the Fud
Fud often causes BST prices to drop significantly and this would be a good time to buy. For example, fud FTX caused collections like Degods to drop sharply to around $3-4k. Current Degods price: $16k
📍Sell when BST hype is high.
When everyone is posting about that collection. For example: Selling Degods around the event of BST officially moving to Ethereum
