How to Find Gem NFT Projects Super Early
Non-fungible tokens or NFTs have taken the world by storm. The best thing is that we’re early. Imagine this for a second. Global, 24/7 markets for anything you can think of. The era of industrialization is old. While there are efficiencies and research undertaken, the digital economy is an enabler. This is the dominant way humans coordinate and collaborate with each other. NFTs, blockchain technology form the base of the decentralized internet known as web3.
Hence, with that said, there are hundreds of NFT projects. Not all are great. Not all are bad either. As always, the reality is somewhere in the middle. This is a new market. There is no structure or framework when evaluating NFT projects and their potential. Today we strive to understand how to spot gem NFT projects super early. How can you make out the signal from the noise? Let’s begin.
What are NFTs?
NFTs are digital files that live on the blockchain. The blockchain is a decentralized database, not controlled by any one single party. Whatever gets recorded and written on the blockchain is permanent and tamper-proof. So that means NFTs can be anything. A picture, video, file, a physical object that gets tracked on the blockchain and so on and so forth. There is no limit to the innovation that is possible. Today, NFTs get made fun of for selling pictures of animals. But, that’s the great thing about new technology. It feels like a toy. As time goes by, we are likely to see more use cases.
How to Find NFT Projects?
NFT projects live and breathe online. Every project has its own set of passionate community members. They hang around Twitter, Discord and Telegram. This is for helping the project reach the escape velocity it seeks. NFT projects start with a whitepaper that lays out the vision and purpose of the project. This document is the best source of inspiration for you. The reason is that this document will tell you which NFT projects are worthy of following. It gets based on your own interests and passions.
So summarizing, you can find NFT projects by hopping on social media platforms. There is always someone, somewhere, who is talking about the next big project.
How to find Gem NFT Projects Super Early
Now that you are familiar with finding NFT projects, let us understand how you can spot the gem NFT projects. And, once done, how you can be super early. This is not a secret. In fact, it is easy once you are patient and consistent in your approach to the whole scene. The below 5 steps will help you become clear, what you can do.
Participate and Get Involved!
Although we’re still in the early stages of NFT adoption, many people often forget how early they are. The truth is that participation gets underrated. This is because a lot of the talk out there is noise. What you need is a semblance of clarity and some basic research. Every NFT project has its own set of supporters and community members. Become a part of this community by talking to other members and gauging their opinion about the NFT project. For instance, once you’re done reading the project’s whitepaper, you already would have a keen sense of what the NFT project is all about. So you can talk about it in the community by reaching out directly to the project’s team and start contributing!
How to Be Early by Observing Patterns
After a few days or weeks, you will start to notice a few community members. You will also see some projects that seem to garner the most interest and attention in the space. For instance, think of the NFT space as a joint family. It is trying to figure out how best to align everyone’s interests when it comes to working and earning. Hence, you will start to find social media pages and marketplace links of NFT projects who seem great to look at. This is terms of vision and plan, yet seem as if they lack the hype they deserve. When you get this feeling, know that you’re early.
For instance, after some time, you will develop a feel for why some NFT projects get rated higher than others. Likewise, why are CryptoPunks and Bored Ape Yacht Club the most prominent NFT projects till date? Each has their own community, but each also has a set of utilities, vision and roadmap around it. Looked at in this way, great NFT projects look a lot like prominent brands.
Use Your Skills!
Since the NFT scene is so new, you will get surprised how easy it is to make friends across the world. If you have good skills (you don’t need to be a coder) you should put them to good use. You never know, when you run into the next big visionary project. If you become knowledgeable enough, you can start your own NFT project! The same few basics apply everywhere. This is whether you’re an investor, a collector or an enthusiast exploring the space. For instance, when you go through the idea, story and vision behind a new NFT project, feel free to add your own ideas. It’s surprising how well people get willing to listen to good ideas and give you complete freedom.
Conclusion
NFTs will stay in the mind space for a long time. In fact, there is a great chance, we refer to NFTs as another name. This is because NFTs sound complicated and technical to the lay person out there. As far as the adoption rates get concerned, we have many projects working towards NFTs as accessible as possible. You’re early. Do your own research as much as possible and rely on your value judgment instead of anyone else’s.
