Here is a 5mn introduction about NFTs for Dummies to survive a dinner with investors and still understand the basics of the conversation.
What platform to use for NFTs
You have to get the right information in time, and to to that, you need to use the right tools available. Here are the steps you should follow:
- Go to the Opensea platform
- Go to Coinbase (or any other app that allows you to buy Ethereum) and get the Coinbase wallet application installed on your phone
- Then go back to Opensea to sign-in your Coinbase wallet and scan the Opensea QRcode with your Coinbase wallet app of your phone
Bravo ! You have connected your Coinbase wallet to your Opensea account
Now you can add funds to your wallet by purchasing Etherium, then
- click Receive
- select Ethereum
- click share address (copy in phone memory)
- use this address to send your bought Ethereum
Wait about 5 to 10mn (sometimes a bit longer) to see your Coinbase wallet as well as on opensea be credited of the amount you have transferred. Congratulation !
Now you can start browsing Opensea and start implementing your NFT buy and sell strategy and look for cheap trending NFTs to flip for a profit.
DISCLAIMER: NFT miner fees can be very high, so make your study before buying your NFT.
Now you are all set to buy your first NFT.
No financial advice included.
How to find the next best NFT
You are probably wondering how to find the best NFT to buy and what is the recommended NFT Research Strategy. Of course the goal is to find the before everyone else the NFTs that will bloom.
How to do NFT research?
Go on Opensea.io – click explore
Select a NFT you like and click on Project to investigate the NFT project Team and NFT Volume traded and check how much people are trading NFT. See the recent buy and sell trends of NFTs. Look at the graph to get a better feeling.
Search the selected NFT project on Twitter. If they have a Twitter account with a larger account followers, it’s a great sign. Check if they have a Discord Channel and if they have active community.
An other positive signal would be that the NFT project is sharing part of its revenues with charity organizations (also increasing their outreach and popularity).
You can check in Google News or Google Trends the popularity of the NFT name and articles that were published recently on the web. To automate this network NFT surveillance, you can also add the Keyword in Google alerts, that will send you a notification on the NFT project each and every time someone publish on internet.
Extend this internet watch to all popular social media, and that way you will be able to jump on the booming “to the moon” NFT opportunities.
Important: make sure the NFTs you select are part of a verified collection with the blue tick
How to get early on NFT projects
Once again, in order to find up-coming NFT projects that might blow-up, you need to use the right tool, and I’ll explain you how:
- Go to rarity.tools
- Click on Upcoming
You can now see the soon to come NFT programs with their release date, price and supply, website, Twitter and Discord accounts as well as their artwork and description.
How to find rare NFT at any budget
We’ll use the same rarity.tools as above and in the All Collections you can select any project and start investigating what is on offer. Let’s look at the popular Bored Ape Yacht Club for example.
- Go on listing type
- Select Buy Now (will show the NFT for sale)
- Sort by Low to High (will order by highest rarity with cheapest price)
Look for the lowest number #xx which means it has the highest rarity, and choose the NFT design you most like in your budget!
Go and buy to flip for a 💸profit 💸
Now let’s take a crazy case of a recent Bored Ape bought in May 2021 at 0.25ETH (about 800USD) and sold in September 2021 at 44.9ETH (150kUSD). So what’s your take on that ? 🤯
Yeah, it’s not too late so if you have some funds doing nothing today somewhere, now is the time to start flipping NFT for a margin. NFT have not reach yet their full potential yet.
PS: by the way, you can learn how to Create and sell your own NFT here
Get your weekly secret NFT review here.