THE ULTIMATE GUIDE
ALL THERE IS TO
KNOW ABOUT NFTS
NFT POWERCLASS™
HOW TO GET RICH WITH A REVOLUTIONARY
BLOCKCHAIN-BASED TECHNOLOGY THAT'S
TAKING THE WEB BY STORM: THE NFTS
NFT POWERCLASS™ IS A COMPREHENSIVE
GUIDE THAT WILL TEACH YOU EVERYTHING
YOU NEED TO KNOW TO TAKE YOUR FIRST
STEPS INTO THIS NEW WORLD FULL OF
OPPORTUNITIES AND GIVE YOU A STEP-BYSTEP METHOD THAT YOU CAN FOLLOW TO
EARN YOUR FIRST $20,000
WELCOME TO WEB 3.0
ALL RIGHTS RESERVED
HOW DOES AN NFT WORK
CONTENTS
TABLE OF
6
8
10
11
12
13
15
WHAT IS AN NFT
WHAT DOES IT MEAN TO "MINT" AN
NFT
HOW DO NFT ROYALTIES
WORK
WHAT IS AN NFT COLLECTION
WHAT IS OPENSEA
WHAT ARE THE 8 NFT
CATEGORIES
23
24
27
38
41
42
44
46
50
51
54
WHAT ARE NFTS USED FOR
WHAT MAKES AN NFT VALUABLE
HOW TO BUY AN NFT
WHAT IS A FIXED PRICE OR
AUCTION
WHAT NFT BLOCKCHAINS ARE THERE
HOW TO AVOID NFT SCAMS
WHO BUYS NFTS
WHAT ARE THE "GAS" FEES
HOW TO STORE AN NFT THAT I
OWN
WHAT IS AN NFT WALLET AND
WHY USE IT
HOW TO PROTECT MY NFT WITH A
COLD WALLET
55
61
65
69
RESELL NFTS AT A PROFIT: 5 RULES FOR
FINDING A HIGH POTENTIAL PROJECT
FINDING YOUR FIRST NFT
UNDERSTANDING AND USING THE
POWER OF TIMING
WHAT IS THE "FLOOR PRICE" OF AN
NFT COLLECTION
BONUS
71
73
74
75
76
77
CREATE AN NFT PROJECT
FROM SCRATCH!
HOW TO PUT YOUR NFT PROJECT
FOR SALE
HOW TO DISPLAY YOUR NFT
COLLECTION
HOW DO YOU ADD YOUR NFT
COLLECTION TO A SECURE LIST?
HOW TO VERIFY YOUR OPENSEA
ACCOUNT?
HOW TO GENERATE THOUSANDS OF
UNIQUE NFTS AUTOMATICALLY
4 KEYS TO A SUCCESSFUL NFT
PROJECT LAUNCH
78
HOW TO MAKE PEOPLE
81 DISCOVER YOUR PROJECT
WHAT IT TAKES TO EARN $100K+
82 WITH NFTS
GENERATING PASSIVE INCOME
85 WITH NFTS
ARE THERE OTHER NFT NETWORKS
86 THAT ARE GAS-FREE?
9 NFT PROJECTS THAT WENT VIRAL
87 AND GENERATED $1M+ IN SALES!
9 EXAMPLES OF SUCCESSFUL NFT
97 FLIPS (BUY-SELLS)
GOLDEN NUGGET: STEP100 BY-STEP GUIDE ON HOW
TO MAKE $500-$100 PER
DAY
INTRODUCTION
If you are reading this Guide, it is probably because you
have already heard about the famous images presented
under the name of "NFT" which sell every day for several
thousands, even several millions of dollars online...
You may even be wondering what could be so special
about these images that have to be so special to be sold
at this price? Why would anyone be willing to pay so
much for such simple images? And why couldn't I just
take a screenshot of that image, own it myself, and then
resell it?
At a slightly more advanced stage, you might be
wondering if you too can buy NTFs and resell it for more
money. In that case, how do you invest in the right
projects? Maybe you would even like to create NFTs
yourself and become a millionaire by selling those
"images" online?
In any case, whether you are already an NFTs fan or a
complete beginner, you are in the right place to
understand everything from A to Z and launch yourself in
this industry which, despite its young age, is already
shaking up the biggest industries of the world and is
evolving in giant steps.
What is an NFT?
N-F-T: It stands for Non-Fungible Token.
And to understand what it means, let's quickly break
down each of these words together. First of all, the Token.
An NFT is first and foremost a Token
A Token is used to represent many things, including art,
video, music, and even physical objects. In practical terms,
there are many things that can be turned into Tokens.
These Tokens are mostly PNG images, but also animated
images (GIF), MP4 audio tracks, or videos.
What is the difference between an Image and
an NFT?
For a simple image to become an NFT, it must be stored
on an online network called the Blockchain.
A unique "serial number" is then created each time a
Token is placed on the blockchain. Each NFT will have its
own serial number, which makes it unique. This is also
what makes each Token non-fungible.
What does it mean when we say that
something is fungible?
We say that an object is fungible when it can be replaced
by another identical object.
Example: A $10 bill can be replaced by another $10 bill. Its
value will be strictly the same. It is therefore a fungible
object.
On the other hand, your cell phone, your watch, your
clothes and anything else you own that you could go and
sell on eBay falls into the category of non-fungible objects,
because each of these objects is unique and can have a
completely different value.
Barack Obama's laptop will probably be worth more than
someone else's, even if it's the same model and brand.
Likewise, one NFT cannot be exchanged for another NFT.
Because even if it is the same image, each copy of this
image has its own serial number and therefore has its own
value, thus making it unique.
A Non-Fungible Token (NFT) can therefore be simply
described as a unique digital object, stored on the
Blockchain.
How do NFTs work?
NFTs are bought and sold with crypto-currencies. You've
probably already heard of Bitcoin? It’s the most famous
and widely used cryptocurrency today.
The second most popular cryptocurrency is called
Ethereum. It is with this currency (Ethereum) that it is
possible to buy the majority of NFTs.
The Ethereum cryptocurrency has its own Blockchain: a
sort of decentralized public ledger that stores and verifies
the details of all transactions made on its network. When
you buy or sell an NFT using Ethereum, the blockchain
keeps track of its current owner, as well as all previous
owners.
Anyone can find out who owns a particular NFT, who has
owned it in the past, at what price each transaction was
made, on what date, etc.
By being decentralized, NFTs on the blockchain are not
stored on a single server. The ownership record of all NFTs
is stored on many servers and computers around the
world, called "nodes". This makes counterfeiting virtually
impossible.
How are NFTs different from
cryptocurrencies?
NFTs and crypto-currencies go hand in hand, but they are
not the same thing. The difference is that cryptocurrencies are fungible: you can exchange one Bitcoin for
another Bitcoin and the value will be the same.
NFTs are different because each NFT has a unique serial
number on the blockchain. Therefore, each NFT is one of a
kind and can have a completely different value.
What is an NFT collection?
An NFT collection is simply a group of NFTs in a particular
project.
You can view the top-ranked NFT collections on Opensea
and CoinMarketCap using the links below:
NFT rankings on OpenSea
NFT collections on CoinMarketCap
What is Opensea?
OpenSea.io is the first and largest peer-to-peer selling
platform for crypto goods (imagine it like eBay for cryptoassets), which includes collectibles, gaming items, and
other virtual goods backed by the blockchain. On
OpenSea, anyone can buy or sell these items using smart
contracts.
OpenSea.io does a great job of providing consumers with
a wealth of information and data about NFT collections.
They provide information such as trust scores, creation
date, offers, and sales volume. This helps consumers make
informed decisions when purchasing NFTs.
Below is an example of an NFT
listing on OpenSea
The price history is displayed under the current highest
bid, as well as a list of previous bids and their
timestamps.
The 8 Categories of NFT
On the exchange platforms, the main categories of NFT
are the following:
1 - Visual Art
An online community of creators, developers, and
merchants is pushing the art world into new territory.
It all started with CryptoPunks, a set of 10,000 randomly
generated pixelated images that proved the demand for
digital
ownership
of
non-physical
objects
and
collectibles in 2017, and the market has been evolving
rapidly ever since: more than 1 billion dollars have been
invested in this collection to date.
But Visual Art is far from being the only category of
NFTs.
2 - Music
Many artists are taking advantage of the NFT
opportunity by offering their audiences limited edition
unreleased tracks.
Tory Lanez, the American rapper, used this technology to
sell 1+ Million NFT albums... in 57 seconds! On the French
side, Booba was a pioneer by offering a title in the form
of NFT which was a huge success with $600.000+
generated the week of its release.
From these examples, it is the whole industry of the
music labels which is threatened by the appearance of a
viable way for an Artist to finance himself by selling
digital products NFT directly to their audience while
getting closer to their community.
3 - Domain names
nike.crypto
nike.blockchain
nike.nft
Crypto domains are Blockchain addresses that allow,
among other things, to receive payments in
cryptocurrencies.
This is big business for speculators, NFT traders and
metaverse natives who buy and sell these NFTs at a
profit.
How much do you think Nike would be willing to pay
you to buy back their domain name to collect
cryptocurrency payments?
The sale of "sex.crypto" for 230 ETH (+$70,000 as of the
time of writing) on OpenSea recently put the spotlight
on this category of NFTs and could explode as adoption
increases over the coming months and years.
4 - The Metaverse
Metaverses are virtual worlds powered by the blockchain
where users can create and trade digital assets, play
games, buy plots of land, display art in galleries, and a
host of other uses where only the imagination seems to
be the real limit.
Many
popular
projects
such
as
Decentraland,
Cryptovoxels, and Somnium Space already have millions
of users. Virtual plots of land from the game TheSandbox
have been sold for more than 50 million dollars.
Recently, it is Facebook that has affirmed its ambitions
to become a major player in this category by presenting
its Metaverse project, even renaming their company
"Meta".
5 - Collector's cards
With the democratization of NFTs classic games are
taking on a whole new dimension and giving new life to
trading cards.
Gamers and collectors can now own the cards they buy
on their favorite games and trade them on secondary
marketplaces like OpenSea. The ability to purchase
unique assets traded and stored on the blockchain is
fundamentally changing the way online ownership is
perceived in the digital age.
Of note, the soccer game Sorare, where players can buy
cards featuring their favorite players, just closed a
record-breaking $600 million fundraising round.
6 - Sport
Sports brands have some of the most valuable
intellectual property on the planet. Coupled with the
tremendous media exposure of top athletes, it's no
wonder that sports teams and other companies seek to
symbolize and sell items to their millions of fans.
The Lille Football Club (LOSC) has released an NFT
collection that represents their 4 French Championship
titles. On the NBA Top Shot platform, video excerpts of
basketball games, although accessible to all on YouTube,
are traded at a premium. The secret? They are sold
with a certificate of authenticity, thanks to NFTs.
With the adoption of NFTs in the event industry
(Concert, Theater, Cinema, Museum...), it seems obvious
that tickets to access stadiums could be sold via NFTs in
the near future.
7 - Utilities
Whether it's rewards, avatars to use in games or to
unlock special features, a growing number of creators
and developers are taking advantage of NFTs to create
and support their communities. This is an opportunity to
build on the development of certain projects and the
interest of their community at the same time.
8 - Collectible works
Currently, some of the most viral NFT collections fall into
the collectible category. Some of the examples you've
probably already heard of include the Bored Ape Yacht
Club, Cool Cats, CryptoPunks, Doodles and CyberKongz
collections.
"Bored Ape Yacht Club" is a collection of digitally drawn
monkeys. The majority of them share the same basic
characteristics, but attributes such as background color,
clothing, facial expressions, style, text, etc. vary to create
a complete collection whose NFTs have sold for nearly a
billion dollars.
What is the purpose of NFT?
All artists and creators can now easily display and
monetize their work.
Artists can sell their work directly as an NFT to a
consumer and make a profit; This leads to less
dependence on traditional art galleries and auctions
Royalties can be included, which means that each
time their NFT is sold, the artist can receive a certain
percentage of the price at which the consumer
decides to resell it. Royalties are paid to the original
artist each time the NFT moves from consumer to
consumer. If their art were sold in the traditional way,
the revenue from secondary sales would not occur,
making NFTs particularly beneficial to creators
NFTs ensure ownership of a digital object, thanks to
the blockchain
What are NFT Royalties and how do
they benefit the artist or creator?
NFT royalties are automatic revenues that the author will
receive from all future resales of his or her NFT on the
secondary market.
Each time a NFT transaction is made, a smart contract
ensures that a predetermined share of the profits goes
to the original artist or creator.
A percentage of 5-10% is considered the norm for
royalties, although the creator is entirely free to choose
this percentage.
Example: Mike creates an NFT and sells it to Vanessa for
$100. Mike gets $100. Then Vanessa decides to sell the
NFT to Vincent. Mike will get a percentage of the sale
Vanessa made to Vincent, as well as on all subsequent
resales, ad infinitum.
This new way of distributing royalties in an equitable and
automatic way is very advantageous for artists and
creators, who usually only benefit from the first sale of
their work.
What makes an NFT valuable?
There are a ton of reasons to buy an NFT... Let's look at 8
of them:
1. Uniqueness - Each NFT is unique, the only one of its
kind. It is impossible to create another NFT with the
same serial number on the same smart contract.
Everything is verified by the blockchain and can be seen
by everyone.
2. Copyright - Your NFT may come with a copyright if you
use Mintable.app. If the seller chooses to do so - it means
that the owner of that Token on the Blockchain will have
full commercial copyright to use that image and asset.
What makes an NFT valuable?
3. Scarcity - Because they are unique and cannot be
copied, they are scarce. Most of the time, there are very
few NFTs from an artist or seller. Therefore, you can
safely assume that you will be one of the few people in
the world to own a collectible that can then be resold.
4. Collectible - Many people see NFTs as a way to collect
digital goods. You can keep them and their value will
only increase since there are few ways to dilute the
collection. Buying them for resale can make you
thousands of dollars. Many people manage to make a
living from this activity.
5. Downloadable - If it is on Mintable.app, only the
current owner of the NFT can download the file attached
to it. This makes it unlockable for the owner. If your NFT
contains something like game resources, music, a PDF,
or more, you might want to purchase the NFT just to
download its content (song/ PDF/ etc).
6. Immutable - No one can change the metadata of the
token, no one can delete your image or the name of the
token. This means that it will never change, it will never
be deleted, it cannot be removed from the blockchain.
This is what makes it so valuable and attractive to
collectors.
What makes an NFT valuable?
7. Permanent - Unlike a collectible Pokémon Card, for
example, which might deteriorate, NFTs are eternal.
Because the data does not change, and because the
blockchain is permanent, you will always have this Token
if you buy it. You will always be able to resell that Token
if you want to. It's like buying a gold bar - you own it and
can do whatever you want with it.
8. Resaleable - You can make a lot of money by buying
high potential collectible NFTs to resell at auction later
on. Thousands of NFTs sell every day for more than
$20,000 when the original buyer bought it for only a few
hundred or thousands of dollars. Their owners earn more
than $15,000 after a few days or weeks, in ONE
transaction!
In short... NFTs certainly have value!
What does it mean to "mint" an NFT?
Minting refers to the process of publishing a Token on
the blockchain for the first time, which makes it
purchasable. This process requires paying a minting fee.
Once this fee is paid, future sales of the NFT can be
made without having to go through this minting process
again.
Technically, there is a way to offer an NFT for sale for the
first time without having to mint it. Due to the expense
of minting, artists often use a process called "Lazy
Minting".
When an NFT is offered for sale using this method, it is
not actually minted until it is purchased. The buyer then
pays the "GAS" fees associated with minting the NFT in
his own wallet.
How to buy NFTs?
You can buy NFTs on any existing NFT marketplace such
as Opensea.io.
Most NFTs are sold via the Ethereum blockchain, so you
will usually need Ethereum to buy an NFT. So the first
thing to do is to buy Ethereum on any crypto-currency
exchange like Coinbase, Binance or Gemini and send it
to a crypto-currency wallet (we recommend MetaMask).
All of this may seem complex if you're just starting out,
but it's actually quite simple. Just follow our steps and
you will be able to make your first purchase in no time.
Once created, connect your MetaMask wallet to
OpenSea or any other NFT marketplace. Once you have
funded your account, you can start searching for your
nugget.
Once you have picked the NFT you wish to purchase,
click on "Buy Now" and follow the instructions in your
wallet.
When the transaction is complete, the NFT will be
transferred to your wallet.
Step 1: Create your Metamask wallet
1. Go to the Metamask website using your Chrome
browser and click on "Install Metamask for Chrome".
2. Add MetaMask as a Chrome extension
3. After MetaMask is installed. Click on "Start" to create
your wallet.
4. If this is your first time using MetaMask, click on
"Create Wallet".
5. Follow the instructions and create a password
6. Memorize and keep safe the wallet seed.
Be sure to keep it secure. The "backup" or "bootstrap"
seeds can be used to restore access to your wallet. No
one but you should have access to this backup phrase.
Even MetaMask cannot recover it for you if it is lost, so be
sure to keep it written down somewhere so you don't
lose it.
Very Important Note: Your seed can give you access to
all the funds in your portfolio. No platform will ever ask
you for your seed. No matter what the circumstances,
DO NOT share your seed with anyone!
Step 2: Buy or transfer Ethereum
Now that you've created your MetaMask Wallet, it's time
to deposit crypto.
Open the MetaMask extension in your extensions
toolbar, and click on "Buy".
2. A 'Deposit Ether' popup window will appear. To top up
the balance using a credit card, click "Continue to Wyre".
3. You will then be directed to the Wyre payment page.
Here you can convert any currency to Ethereum. Choose
the desired amount, enter your credit card, and click
"Next".
Important Note: Make sure NOT to change the wallet
address field, as it will automatically be filled with your
MetaMask wallet address.
Step 3: Create an OpenSea account
1. Go to Opensea.io
2. Choose MetaMask to connect
Step 4: Buy your 1st NFT
1. Go to Opensea.io and search for an NFT collection
2. Click on the NFT you wish to purchase.
3. Once you have found the NFT you wish to purchase,
click on "Buy Now".
4. Check the total, then click on "Confirm Order".
5. Verify gas charges and confirm the transaction
7. And that's it, you're done! You can now click on "In
Wallet" to see the NFT you just purchased. If the NFT is
not visible, keep in mind that there may be a slight delay
due to processing time.
What is a fixed price sale and an auction?
When looking for an NFT, keep in mind that there are
two ways to buy. The first is the fixed price sale, which
means that the creator sets a price that cannot be
negotiated.
The second way to sell NFTs is through an auction. Once
a creator has put their NFT up for auction, the consumer
can then make a bid. Then, there are two ways for a
creator to sell their NFT at auction.
The first is to sell to the highest bidder; the seller offers a
price and whoever offers the highest amount will be able
to buy the NFT.
Under this approach, an automatic transaction will occur
if the price exceeds the ETH price set by the seller. If the
price ends up below the set amount, it is up to the seller
to accept the highest bid. The seller is not obliged to
close the deal.
You can also set a reserve price for the NFT in case the
seller does not receive an offer equal to or higher than
this price. It is not possible to set a price lower than one
ETH because OpenSea covers the gas costs.
The seller may choose to accept a bid below the reserve
price at any time, but will be responsible for the
associated gas charges. Once the auction has begun, the
reserve price cannot be changed.
NFTs offered at auction are only available for a certain
period of time.If a consumer makes a bid in the last ten
minutes of the auction, the auction will automatically be
extended for an additional ten minutes. Cancellation of
the best bid also results in an extension.
In most cases there is also a minimum bid requirement,
on OpenSea bids must be at least 5% higher than the
previous bid and they must also be in the same
cryptocurrency.
The second way to sell an auctioned NFT is through a
declining price sale, meaning that the price of the NFT
decreases until a consumer buys it. The consumer can
buy the NFT at any time in the specified currency or
make a bid
If the NFT is part of an "unverified collection," that is, an
NFT that has not been reviewed by the platform's user
safety team then the buyer will be asked to review the
details of the collection before purchasing.
What are the different blockchains for NFTs?
NFTS are usually on the Ethereum blockchain but can
also be on other networks, such as Solana, Polkadot and
Avalanche.
OpenSea specifically supports the Ethereum blockchain
where Ethereum is used to pay transaction fees. Polygon
is another blockchain that provides secure and instant
transactions with various Ethereum currencies (ETH,
USDC and DAI). You can think of Ethereum and Polygon
as twin blockchains, as the currencies are similar with
some slight differences.
With Polygon, a user can create and sell NFTs without
transaction fees. (There are many different blockchains
for NFTs and each network has different transaction fees,
market caps, account transition rates, etc.)
There are alternatives to Opensea such as Rarible, Nifty
Gateway, Axie Marketplace and many other platforms.
How to avoid scams when buying NFT?
When you go to a marketplace like OpenSea, it is
essential that you know how to navigate safely.
Here are some tips:
1. Get help through official channels. If you have any
questions or requests, only use the official channels and
if you ask questions to the community at large, be
careful of malicious users.
2. Never share your seed phrase with anyone! It is
provided to you when you create your OpenSea account.
It is the only data that is used to generate your account.
3. When downloading a wallet, make sure it is an official
wallet. Get the link from the vendor's official website.
4. Never click on unknown links and avoid emails or files
from unknown sources, stay alert when browsing and
interacting with others on social media.
5. Never use the same password on multiple accounts.
6. Enable two-factor authentication and avoid two-factor
authentication via SMS, as it is vulnerable to attacks.
7. To protect your wallet, use a physical wallet (Cold
Wallet), which adds an extra layer of security for your
NFTs and funds.
8. Limit smart contract approvals, if you use MetaMask,
check your spending limit regularly when approving
transactions.
9. Before purchasing an NFT, do some preliminary
research to ensure the viability of the NFT collection
(including making sure the project has a large following
on their social networks).
Who buys NFTs?
The popularity of NFTs continues to grow. Especially with
artists, gamers and brands in all areas of culture.
Snoop Dog, Jay-Z, Odell Beckham Junior, Serena
Williams, Jimmy Fallon, Steve Aoki, Reece Whiterspoon,
Jordan Belfort, Stephen Curry, Jason Derulo, Paul Logan,
Saquil O'neal are some of the names that are among the
buyers of the CryptoPunks collection with Nfts between
€100,000 and €1 million. Some celebrities, like Jake Paul
for example, have created their own NFT collection. Jake
Paul’s one is called "The Future Of Boxing".
There is an opportunity for you to invest in these digital
assets that will increase in value and be resold at a profit.
Major companies are starting to integrate NFTs into their
businesses.
For example, Coca-Cola, Asics, NBA, Taco Bell, Nike and
even Louis Vuitton recently launched a unique video
game incorporating NFTs. Major brands like Disney+ are
launching their own Metaverses in partnership with Epic
Games and plan to incorporate many NFT characters,
from Stars Wars to Fortnite.
NFTs are an interesting source of revenue for brands, as
evidenced by all the major brands that are joining the
NFT community.
Luxury brands like Louis Vuitton are joining the NFT
world. They are using the opportunity to expand their
catalog and get closer to their customers beyond
physical products.
What are gas fees?
Gas fees are similar to "transaction fees" in the Ethereum
blockchain.
When you perform a transaction, such as transferring
cryptocurrency to another wallet or purchasing an NFT,
you must have enough ETH in your wallet to account for
the gas fee associated with the transaction (e.g. An NFT
may show a price of 0.5ETH and rise to 0.6ETH with the
gas fee).
Keep in mind that gas prices fluctuate due to network
congestion. Before confirming a transaction, it is
recommended
to
consult
websites
like
https://ethgasstation.info
You can take advantage of price fluctuations to benefit
from lower transaction fees.
On OpenSea, there are three different types of gas fees:
one-time, recurring and no fee.
One Time Fee: To be paid only once
The first time you sell an NFT on OpenSea, you will be
required to pay a registration or account initialization
fee before you can begin your journey on their
platform. After paying this fee, you will be allowed to
trade between your wallet and OpenSea, as well as
transfer NFTs when a sale takes place.
The first time you use a crypto-currency, you will be
charged a transaction approval fee.
The first time you make an auction, you will also have
to pay a one-time fee to approve the WETH for
trading.
Contract Approval: If the NFT you are reaching has
been minted by a custom NFT contract, you will have
to pay an approval fee to authorize the trades.
Recurring fees: To be paid with each transaction
This fee occurs every time you:
- Accept an offer
- Transfer an NFT
- Buy an NFT
- Delete a listed NFT
- Cancel an offer
- Convert cryptocurrencies
- Freeze your metadata. This means that your item will
be stored safely forever. It is during this automatically
performed process that you lock and store your object
permanently on a decentralized file storage system,
which allows data such as object name, media,
description, properties, levels, and statistics to be visible
to others.
No Gas Charges - you can perform these actions without
paying any charges:
Create NFTs with the "Collection Manager"! In this case,
the 1st buyer will pay the mining fees.
Create a collection of several NFTs
List an NFT at a fixed price and at auction, and reduce
the price of an NFT you have listed
How to lower the gas costs when buying an NFT
On Opensea, it is possible to manually change the gas
charges when purchasing NFT. By opting for a lower gas
fee, you also agree to extend the processing time of your
transaction by a few extra minutes. So it's a simple
option that we recommend you use if you're not in a
hurry to purchase.
Another simple tip is to shop on the weekends as fees
are generally lower. Currently the hours to avoid are
11pm to 4am and the least busy hours are between 3pm
and 7pm Pacific Time.
How do I store an NFT I own?
On OpenSea, whether you are a creator or a collector, the
platform allows you to customize your profile as you wish.
When you buy an NFT, it is immediately transferred to
your Opensea account. People can then click on your
profile and see the NFTs you have collected.
What is an NFT wallet and why do I need one?
An online wallet like MetaMask allows you to store all
your cryptocurrencies and all your assets on the
blockchain, including your NFTs.
MetaMask also acts as a gateway to blockchain
applications as it provides you with the necessary tools
to make payments when buying NFTs, to collect
payments when selling NFTs, but also to store NFTs and
exchange them from one wallet to another as well as for
every transaction on the Ethereum blockchain.
OpenSea is a platform whose sole purpose is to interact
with the blockchain, it does not store your NFTs or take
possession of your assets. OpenSea is where most of the
peer-to-peer NFT exchanges take place, so you will need
a wallet as it is a mandatory tool to “translate” your
actions into transactions on the blockchain.
All crypto wallets have different features, so here are
some tips to help you find the perfect NFT wallet.
User experience: NFTs are already a complicated
concept, so it is recommended to choose a wallet that
does not have a complicated user interface. So choose
wallets that offer ease of configuration and use.
Cross-blockchain
compatibility:
since
the
main
blockchain for NFTs is Ethereum, most wallets are likely
to be compatible with the Ethereum blockchain.
However, if you want to buy or sell NFTs on other
networks, you will need a wallet that is compatible with
other blockchains.
Multiple device support: it will be helpful if your wallet
supports multiple devices. (Mobile, tablet, computer...)
Some good wallets that will help you get started:
- MetaMask (recommended)
- Coinbase Wallet
- AlphaWallet
- Enjin
- Trust Wallet
Can I protect my NFTs with a physical wallet?
Yes. If you plan to keep your NFTs for a long period of
time, it may be wise to protect them with a physical
wallet, also called Cold Wallets. Cold wallets are also
recommended if you are going to be very active or cash
out large amounts of money to secure your investments.
Physical wallets are much more secure than standard
crypto wallets because a hacker would need to have
physical access to the device to get at your crypto assets.
The Ledger Nano is a great example of a physical wallet
to protect your NFTs and all of your assets on the
blockchain.
How do you resell an NFT for profit?
Many people make money with NFTs by "flipping" them.
This simply means that they buy a project at a low price
and then sell it at a higher price later on.
While it's impossible to 100% guarantee that the price of
a particular project will go up, there are a few things to
consider before you make your first NFT purchase.
There are 5 main things to consider before bidding on
NFT projects.
1 - The community
When choosing an NFT project, you need to make sure it
has an active community. Always make sure to check
the project's engagement on social networks. A good
NFT project will have an active community and will not
be flooded with fake comments or spam. We
recommend selecting projects with more than 10,000
members on Discord and Twitter (the leading platforms
in the NFT world). Without a large enough community,
the project will have a hard time attracting enough firsttime buyers in a short enough period of time to create
some buzz around the project.
Example: We found that the Cryptoon Goonz NFT Project
had hyper-active members on Twitter and particularly
on Discord, with a community that is growing very
quickly. It is partly this growth that pushed us to invest
very early in this project.
2 - The brand
When you invest in NFTs, you are first investing in the
success of the collection as a whole and therefore in the
brand behind it. Unlike cryptocurrencies, NFTs cannot be
sold instantly. There is less liquidity because you have to
find a buyer for your NFT. Liquidity can become an issue
if the creator or the team behind the project does not
have long-term plans to develop the brand. We
systematically look at the history of the founders and the
artists behind the project to gauge the viability of the
collection.
Example: The Doodles NFTs project is led by a famous 2D
artist called Burn Toast, with exceptional skills and a
remarkable palette. We recommended this project to
our Private NFT Club members when it was available for
$2000. Each NFT is worth at least $10.000 on resale with
peak sales of over $200.000.
3 - The vision
When looking to invest in an NFT project, it is important
to focus on a project that you think has a medium to
long term future. It is important to know that the team is
committed to the project for the long term, and is not
just looking to make a quick buck. To know this, look for
a project roadmap (available on the website). The vision
should be unique and span several years, not a few
months. Collections that include long-term projections
with real benefits to the purchase of an NFT are
generally the safest investments.
Example: NFTs from the CyberKong VX project may be
used in games and in The Sandbox (Top 3 NFT games
currently). We recommended this project to our Private
NFT Club members when it was available for $5000.
Each NFT is worth at least $30.000 on resale with peak
sales of more than $400.000.
4 - The minting limit
If a project has a limited number of NTFs that can be
minted, there will be fewer of them on the market,
which creates scarcity and increases the value of each
NFT in the collection.
We encourage you to pay particular attention to projects
that start out with a collection of NFTs that will be
reduced in size over time. These types of projects can be
very profitable, because if they are successful with 10,000
NFTs, it is likely that each of the remaining 5,000 NFTs
(for example) will be very valuable.
Example: The characters of the CoolCats project are only
available in 9999 copies. This gives us some stability
regarding the price of an NFT purchased from their
collection. Avoid at all costs collections that do not offer
a limited number of characters, because a future
addition of a few hundred or even a few thousand more
NFTs could drastically decrease the value of an NFT.
5 - The utility of the Token
When you buy an NFT, it is important to consider it in
terms of the value it brings as a commodity. This value
can take two forms, tangible or intangible.
An example of tangible value is exclusive access to
events or future product or service variations. Intangible
value can take the form of the art itself or the association
with the community or brand.
Example: Imagine online horse racing, where bettors bet
on horses running in Metaverses. Incredible, isn't it? This
could be the future of horse betting. Now imagine you
can buy the horse that thousands of people will bet on
and build a real stable that wins races. This is what led us
to invest early in the ZedRun project.
Choose your first NFT!
NFTs are to be considered as assets and can be
accumulated. Their value will fluctuate as it is based
on the forces of supply and demand. But if the value
of the NFT increases, you will be able to sell the NFT
and make a profit in the process.
There is no analytical model or rule to determine
which NFTs will increase in value; however, looking at
the trading history, the creator of the NFT, the price
history, previous sales, transfers and identifying
trends can all be helpful in choosing which NFT to
invest in.
Choosing which NFT to invest in is crucial and
accounts for 80% of your success. The remaining 20%
is about finding the NFT with the most potential from
this collection, based on the budget you can allocate.
The best platform to use right now to help you choose
the right NFT to invest in within a collection is
"rarity.tools".
rarity.tools ranks NFTs according to their rarity to help
you determine their value. This will help you make
buying decisions and comparisons between different
NFTs and even different projects. A rarity score is
assigned based on the characteristics of the NFT. These
vary between different NFTs as they refer to aspects
such as clothing, style, utility, facial expression,
background, text, etc.
Rarity.tools has a ranking system that allows you to
compare NFTs according to the volume of Ethereum
exchanged and the community votes. The filtering
system provided allows you to choose the characteristics
or the type of NFT you are looking for with ease.
Keep in mind that the rarity of an NFT should not be the
only factor you consider when deciding which NFT to
invest in!
Different NFTs have unique aesthetics or combinations
of features that cannot be accounted for by a rarity
score. It is therefore recommended that you take into
account other factors such as a potential buyer's
demand, or the intrinsic utility of the NFT in question.
When you enter the rarity.tools website, click on
"upcoming", in order to get a sneak preview of the NFTs
projects that will be launched soon.
This will be a great help when you are looking for NFTs
to buy, as you will be able to buy them at their lowest
price, while having the possibility to get in touch with
their community on social networks.
The best investments are often made by buying NFTs in
pre-sale between 0.01ETH and 0.1ETH (classic mining
rate), before their public launch on Opensea.
Icy.tools is another great tool we recommend you use to
search for upcoming NFT projects.
Icy.tools allows you to find new trending NFT collections
and filter them by time, floor price, volume and sales.
If you click on the "Discover" tab, you will also be able to
see the "Top Projects in the Mining Stage" that are being
purchased in real time.
This allows you to see exactly what is trending right now,
as well as the percentage of "unique minters". If the
percentage of unique minters is high, it means that a lot
of people are buying NFTs from these collections. This is
usually a better sign than having a small group of large
investors buying NFTs from the same collection.
A tip: Before investing in a project, take the time to
check their Discord! If their community is growing
quickly, it's a good sign that the collection has potential.
Discord is an incredibly popular voice, video, and text
chat platform that originated in the video game
community, but has since spread to many other areas.
Discord servers have become extremely important to the
NFT communities that gather and grow here. This is
where the NFT community lives and this is where you
will find the most important information about any
collection.
That's why you should ALWAYS join the Discord server of
any NFT project you plan to participate in.
After joining the project's Discord server, look in the
sidebar for a #General chat and enter it.
The general chat is simply where members of the
Discord server go for general discussions about the
project.
If the group has a large number of members and a very
active chat, this is a very good sign for the potential
success of the project.
Caution: NEVER agree to trade after being solicited by
private message on Discord. Many scams take place via
private message. Focus ONLY on the official project
server channels.
Timing is a crucial element when purchasing an NFT
We recommend that you pay particular attention to the
following two elements:
1 - The "floor price" of the collection
When you click on a collection, metric information, such
as the floor price, is displayed. The floor price is the
lowest price at which an NFT from that collection is sold.
It is updated in real time.
Comparing the floor price with the selling price changes
of the NFTs in the collection is an effective way to
determine if you should invest in an NFT. If the floor
price increases over time, it means that the demand for
that collection/project is increasing.
In our opinion, it is better to buy several NFTs at the
lowest price from different collections, rather than
putting everything on one NFT from a specific collection.
Remember that at the end of the day, you are banking
on the success of a collection.
2 - Frequency of transactions
When you click on a collection, you can access the
volume of transactions. By clicking on this data, you will
be able to see the history of the last sales and the
amount of each transaction. Make sure you invest in a
collection that as many people as possible are investing
in!
The more buyers there are in a short period of time, the
more growth potential the project has. We recommend
selecting projects with a transaction frequency that is
measured in minutes, not hours or days.
BONUS CONTENT: Creating an NFT project from scratch!
To get rich with NFTs, there are two major solutions: Buy
underpriced NFTs and resell them at a higher price, or...
Sell your own collection of NFTs.
By choosing the second option, not only do you earn
money on the initial sales of each NFT in your collection
($100 x 10,000 NFTs for example), but you can also decide
to earn 10% royalties on all sales that are made on the
secondary market. A real Jackpot if your project is
successful!
How to create your own collection? Don't worry, we've
got you covered! You just need to follow the guide
below. There are so many different ways to create your
own NFT projects!
You can draw your NFT by hand or combine images using
software such as
- Photoshop
- Illustrator
- Ibis paint x
- Sketchbook
- Any drawing or design application
If you are using Photoshop or Illustrator, you can start by
drawing the base, for example a cat, and then use the
same cat design combined with different overlays of
clothing, background colors, bubbles, etc.
This allows you to have a variety of NFTs with different
features. Like a mustache or a monkey tail. Each feature
could have different colors. Be creative!
How do I put my NFT project for sale on OpenSea?
Once you have a file you want to upload as an NFT, click
on create and add a new item:
- Drag the digital file into "drop file". On OpenSea, the
maximum size is 40 MB.
- Configure your logos, social media links and display
settings.
Once you've uploaded your file, named it and added
your social networks, all that's left is to set an initial
selling price (preferably in ETH).
Click on Create and you will have created your NFT!
How to create a collection that includes several NFTs?
Click on Create (top right of your screen) and create a
collection.
After clicking "Create Collection", OpenSea will prompt
you to name the collection, insert a logo image, featured
image, banner image, description, category, royalty
percentage, the blockchain you want the collection to be
on and the display theme.
Once you have opened your collection, you can start
adding your NFTs!
How do I list my NFT collection on a whitelist?
Listing your NFT collections on a whitelist can make a
huge difference to your account as it builds consumer
confidence. Collections on OpenSea can achieve "secure"
status after making their first sale.
Many collections use Washtrading to try and get this
status quickly. If you are not sure what washtrading is, it
is essentially a form of market manipulation where an
investor or consumer buys and sells their NFTs
themselves in order to create deceptive activity.
These attempts to artificially manufacture trading
volume can be easily detected and will not result in
safelisting. When analyzing the sales volume of a
collection in its early stages, consider checking that the
buyer and seller are not identical.
A tip to speed up the whitelisting process would be to
include any links to your social networks, logos or any
other useful information in your collections!
How do I get my account verified? (Blue check mark)
An account or collection is considered verified if a blue
check mark is present. A check mark cannot be explicitly
requested, however, OpenSea regularly scans and
verifies accounts and collections to grant them a verified
status.
As on any other social networking platform, a blue check
mark is assigned to public figures, brands, associations...
To get your account verified, you must have at least
50,000 followers on Instagram or Twitter.
Collection verifications are for collections created by
high-profile public figures or organizations. Otherwise,
the collection must reach a trading volume of 100 ETH or
more, as well as have all assets revealed to be eligible for
verification. To prevent consumers from misinterpreting
collections, OpenSea does not verify collections that
appear to be duplicates of existing collections, tributes
or remixes.
How do you mass-produce thousands of unique NFTs
automatically?
Usually, to generate NFTs, designers use software to run
a script that automatically generates and compiles
thousands of unique variations of art, based on multiple
graphic layers that can be made with the tools
mentioned above.
Fortunately, there is a powerful tool available online at
https://nft-generator.art/
Using this tool allows you to bypass all the complex
scripts and software that developers use to generate
NFT projects from a few variations.
So, ready to create your first NFT collection?
The 4 keys to a successful NFT project launch
1 - Plan, plan, plan!
Before launching your NFT project, it is essential to plan
it thoroughly. The questions you need to ask yourself are
the following:
What is the project about? Are they collectible
cards/characters, unique artworks? What do they
provide access to? Try to give it real value.
When will the project be available for Minting?
Timing is everything when it comes to NFT. You need
to tease your audience as much as possible and make
sure they are excited and ready to buy when your
project launches.
Where
is
the
project
launched?
Opensea
is
recommended as it is the easiest and most user-friendly
platform to launch a project. It is also an extremely
reliable platform in the community
2 - Create an impactful story
There are a lot of projects flooding the market that are
just images or videos. To stand out, it's important to
create a unique story for your project that will excite
collectors.
3. Make it exclusive
The most successful projects cap the maximum number
of NFTs created. By having a fixed quantity available for
sale, NFTs are much more likely to retain their value.
Here are some examples:
CryptoPunks - 10,000 unique characters.
Meebits - 20,000 unique 3D characters.
Bored Apes Club - 10,000 characters.
VeeFriends - 10,255 unique utility tokens.
4. Become a Marketing Pro
Marketing is by far the most important part of getting
your NFT project off the ground.
The best way to market your NFT project is through
social networks and influencers. Here, you'll want to
make sure that you create profiles on Discord, Twitter
and on Instagram and keep on posting content
regularly.
Contact qualified influencers
Most influencers have a loyal community that follows
them and trusts their recommendations and opinions.
Ideally, the audience should already be exposed to
crypto and understand how to buy NFTs. We believe that
influencers on YouTube or even on gaming-oriented
platforms
like
Twitch
can
become
powerful
communications weapons for your project.
Organize a giveaway
Running a contest involving a giveaway of an NFT from
an upcoming collection is a very popular practice in the
NFT space. By hosting a giveaway, you can quickly
expand your social networks and build a community
around your project. For example, you can state that
"anyone who wants to participate should follow the
project on Instagram & Twitter, and join the Discord
server."
Create demand up front
Most NFT projects make sure to create excitement at
least 15 days before launch. By actively promoting your
NFT project and disclosing the details of your project bit
by bit, you can build a very active and enthusiastic
community.
How can I improve the chances of my project being
discovered?
Regardless of their verification status, all projects have
the potential to succeed. Here are some simple but
effective tips to improve your chances of being
discovered:
Original content: try not to use google images,
filtered remixes, or work you didn't create.
Adopt an Ecommerce sales strategy via social
networks to market your NFTs before relying on the
community present on platforms like Opensea.
Set reasonable prices (below $200) to encourage
buyer volume.
Reinforce FOMO (fear of missing out) by offering a bonus
to the first 100 buyers.
What does it take to earn $100,000 from selling NFTs?
We've taken the time to analyze data from 100 NFT
collection designers who have generated between
$100.000 and $199.000. The purpose of this analysis is to
give you an overview of the commonalities of projects
that reach this goal for you to use as inspiration.
Here are our top 5 findings:
1. The most popular art medium among the $100.000
club is animated 2D, with 31.2% of creators using this
format. Non-animated 2D art is a close second with
28.6%, followed by animated 3D with 24.7% and static 3D
with 15.6%.
2. More than half of the artists in the $100,000 club sell
on more than one platform, the average being two.
SuperRare is the most popular among the sample group,
followed closely by MakersPlace.
3. The median selling price of NFTs by artists in the
$100,000 club is 1.033 ETH (This does not mean that they
started out by setting these prices, just that their NFTs
reached this average later).
33.6% were less than or equal to $100.
20.0% were between $100 and $200.
11.1% were between $200 and $300.
7.7% were $300-$400
3.9% were $400-$500.
3.3% were $500-$600.
2.5% were $600-$700...
So it is interesting to start with rates less than or equal to
$100
4. The average number of works sold by the artists in the
sample group is 114.
5. How big does your audience have to be to earn
$100,000 as an NFT creator?
The answer is not as important as you might think.
As the graph above shows, having a significantly larger
audience did not have a proportional effect on the sale
price.
Artists in the $100.000 club who use Twitter have a
median audience of 2,032. Furthermore, having a larger
audience does not necessarily mean that artists can
achieve a higher sales price per NFT.
Artists with smaller and perhaps more engaged
audiences earned as much, if not more, for each NFT
than their more popular counterparts.
Generate passive income by buying NFTs
Most NFTs on the market get their value from the value
from their art or rarity. On the other hand, some NFTs
can provide their holders with passive income in the
form of dividends.
The best example is the CyberKongz Genesis NFT
collection. Owning one of the first thousand Genesis
Kongz gives users 10 BANA$ tokens per day for the next
10 years.
These tokens can then be used to interact with
CyberKongz channels, or sold on the exchanges for a
considerable profit.
More and more collections are associating their NFTs
with potential huge financial gains. Many people are
taking advantage of the lack of public awareness of NFTs
to accumulate real digital assets.
Are there any other blockchain networks that are gasfree?
OpenSea allows consumers to trade NFTs on multiple
blockchains.
The Polygon marketplace is a blockchain that allows you
to create and sell NFTs without associated gas fees. To
post on the Polygon marketplace, simply change the
blockchain from Ethereum to Polygon.
Polygon supports ETH, DAI and USDC. Once you set up
your collection under the Polygon blockchain, you're all
set and can start cashing out with no gas charges!
Conversely, you can also buy NFTs without gas fees sold
under Polygon.
Another advantage of Polygon is that you can create
semi-fungible items. This increases the supply of your
NFT and therefore the number of copies minted. It also
suggests that your NFT can be held by multiple wallets
(useful in some cases).
Discover 9 NFT projects that went viral and generated
millions in sales
Something to boost your motivation level!
9. Axie Infinity "Genesis" Virtual Game - $1,500,000
Axie Infinity is a game on the Ethereum platform that
involves buying and breeding fantasy creatures called
Axies, and it may not be that different from other
popular fantasy video games. Earlier in February, a
virtual asset seller ended up selling a plot of the game
for $1.5 million.
The seller, known simply as "Danny," announced the
transaction on Twitter as follows:
"This is the largest digital land sale ever recorded on the
blockchain," while congratulating the new owner Flying
Falcon.
8. CryptoPunk #6965 - 800 ETH - $1,540,000
Each CryptoPunk character has its own visual aesthetic.
Interestingly, #6965 is one of the CryptoPunks monkeys,
as is #4156. While monkeys are not exactly common,
there are rarer CryptoPunk collections and this one sold
for over a million dollars.
This particular CryptoPunk wears a grayish fedora
instead of a blue bandana. Otherwise, the facial features
are quite similar to all the other CryptoPunks in the Ape
collection.
7. The best I can do - $1,650,000
Another NFT created by a fairly well-known person, The
Best I Could Do was developed by Rick and Morty's cocreator Justin Roiland and sold for well over a million
dollars.
Rick and Morty is one of the most beloved and often
quoted modern cartoon series, and the creator's
influence was bound to have an impact on his NFT list.
A strange, almost alien riff on the popular animated
series The Simpsons, The Best I Could Do is a doodle that
depicts characters from the show all wearing what
appear to be nipples on their bellies. It's esoteric, to be
sure, but it's sure to appeal to fans of Roiland's other
works.
6. The first Twitter on Tweet - $2,900,000
Twitter founder and CEO Jack Dorsey also tweeted the
first tweet on the microblogging platform in 2006, a
short text that said "just setting up my twttr."
While the tweet will continue to exist on Twitter, it has
been sold as an NFT to Sina Estav, CEO of Bridge Oracle,
for $2.9 million, according to NFTS Street. Estav would
get the NFT as "signed and verified by the creator."
The $2.9 million raised was then donated in charity to
the GiveDirectly organization, which specializes in
providing financial resources to the poor and its COVID19 relief programs in Africa.
5. Doge - 1696.9 ETH - $4,000,000
For newcomers and those unfamiliar with the everchanging crypto industry, the concept of an NFT often
seems strange, and it doesn't help that buyers are
allegedly paying up to $4 million for a meme.
There's a lot most don't know about crypto-currencies,
but given their growing prevalence, it can be helpful to
learn the ins and outs of crypto. Sold in early June 2021
and reported by NBCNews, the winner of the auction,
pleaserdao, placed a bid of 1,696.9 ETH, which is an
incredible amount of cryptocurrency to spend on
anything, let alone a photo of one of the internet's most
famous memes.
4. Crossroads - $6,600,000
Digital artist Mike Winkelmann, aka Beeple, has created
several dystopian artworks mocking U.S. presidential
candidates such as Donald Trump, Hillary Clinton and
Bernie Sanders, though his work Crossroads is perhaps
the best known.
Crossroads features a giant baby that appears to
resemble Trump, its body graffitied with remarks such as
"Loser." A blue bird, symbolizing Twitter, perches on the
character's shoulder while a clown emoji fills the speech
bubble above. Depicting the outcome of the 2020
presidential election, Crossroads was recently sold via
Nifty Gateway.
3. CryptoPunk #7804: 4,200 ETH - $7,570,000
The rarity of CryptoPunk #7804 comes from the fact that
it is one of only 9 Alien CryptoPunks from Larva Labs.
Besides the usual CryptoPunks, the rarest ones are
Aliens, Monkeys and Zombies.
The Alien wears three accessories: a pair of small
sunglasses, a pipe from which a few clouds of smoke
come out and a front cap. The sale took place around the
same time as CryptoPunk #3100, which sold for $10,000
more than #7804
2. CryptoPunk #3100 4.200 ETH - $7,580.00
In the same vein as CryptoPunk #7804, the most
expensive CryptoPunk, is also one of the 9 Alien Punks.
He has a greenish-blue complexion that looks a bit like
Bob's the Squidward cephalopod from SpongeBob
SquarePants.
The Alien also wears a blue and white headband,
although nearly 406 of the 10,000 characters have one.
Sold on March 11, 2021, the Punk began its journey
starting at $76 at a 2017 auction, continuing to be bid at
$2 million and finally at its current price of $7.58 million.
1. Everydays - The first 5 000 days - $69 000 000
In its first-ever digital art auction, Christie's auction
house sold a massive compilation of art by Beeple for a
record $69 million. Beeple has been making art every
day since May 2007, without missing a single day.
According to Artnet, Beeple is the "third most expensive
living artist" in terms of auction price, after Jeff Koons
and David Hockney.
But make no mistake…
The biggest opportunity for everyday people who don't
have international fame, millionaire friends, artistic
talent or millions of subscribers, is to buy undervalued
NFTs and then resell them at a profit to wealthy buyers.
Here are some examples with 5 different NFT collections:
Golden Nugget: Step-by-step guide on
how to make $500-$100 per day
Getting Started
Before you get started in being involved in successful
NFT projects, you need to have the following things:
1. Discord account - To join any NFT project you will need
to join their Discord channel where they list everything
about the project including the whitelist criteria.
2. Wallets - We covered the MetaMask creation process
in the previous chapter. You will need it for Ethereum
based NFTs, sold on OpenSea. Additionally, you want to
have a Phantom Wallet for Solana-based NFT projects on
marketplaces like Solanart or DigitalEyes. The advantage
of the NFT projects based on the Solana network is the
incredibly low gas fee (below $1 per transaction).
3. Marketplace Accounts - You will need to create
accounts in marketplaces like OpenSea and Solanart. We
covered the OpenSea account creation process in a
previous chapter.
4. Crypto-currencies - For starters, you will need ETH in
MetaMask or SOL in Phantom depending on the project
you are getting into.
Market Research
Finding Profitable Projects To Mint
This is perhaps the most important thing when it comes
to finding profitable NFT projects. Don't forget the
ultimate formula that will lead you to success:
timing + research = money
All NFT projects either have art or utility. Ideally, you
want to get into projects that have both as long as they
fall into the KPIs (Key Performance Indicators) that we
will cover below.
However, there are times when you will go under or
above the KPIs in specific situations which we will cover
in examples below.
The two best places to find and research NFTs are:
1. https://rarity.tools/upcoming/
2. https://nftcalendar.io/
Keep in mind that on top of these sites you always
wanna look out for NFT projects mentioned on Twitter,
Instagram, Reddit, TikTok... If any project catches your
eye and you see the KPIs being met you should
definitely jump in and get on that whitelist.
KPIs To Follow
1. Art - Is the project artistically appealing
2. Utility - Does the project have some utility value
3. Discord users - Between 2.000 and 5.000 members.
Below 2.000 it means the project is too small, above
5.000 it means you are late to the party.
4. Discord activity - High activity relative to the number
of users in the channel
5. Total NFTs available - Less than 10.000. Anything
above this inflates the value of the projects.
6. Secondary market price - Higher than mint, i.e. the
floor price on OpenSea or Solanart should be higher than
the original mint price of the project.
7. Previous pattern - Compare the project to other
successful projects in the past. Experience really kicks in
here, and after a couple of projects you will have the
hang of it.
The reason you want to be within these parameters is
that this will almost always ensure that you are getting
in the best projects early and have a guaranteed shot at
the whitelist.
Let's analyze 2 profitable projects with potential at the
time of writing of this guide.
Project 1: Knights Of Chain - www.knightsofchain.com
This is one project on the Ethereum blockchain that
matches all the criteria above and that should ideally be
your sweet spot.
Let's go over the KPIs. They have amazing artwork
backed by the utility which is a community launchpad.
As of the time of writing, they have around 3.000
members in their Discord channel in under a week of
announcing their project. This ensures you get a
guaranteed shot at the whitelist and also tells you they
are growing.
They have a very active community in Discord. You will
sometimes see Discord channels of other NFT projects
with 10.000 members with next to no activity. You want
to avoid them, because that means they have purchased
fake users.
They also just announced that they are getting a
billboard in Times Square which is also something you
wanna look out for as, after any type of big PR activity,
projects tend to blow up really quickly.
The total supply is 9,999 NFTs, which is within the KPIs
that we established.
Next, the mint price will be the same as the public sale
price. That's very important because if the mint price is
below the public sale price you will get a lot of penny
flippers who will try to undercut the market in the
secondary markets like OpenSea.
They have similar art to ON1 Force which is a project we
were personally involved in. We got in the project for
around $500 at the mint and sold our NFTs for almost
$20.000 between the pre-sale and the public sale.
Once you get involved in a few projects you should
always aim to find projects that are similar to previously
successful ones and definitely get into them as that's
another factor that ensures that one will also do well.
This is one reason you will see so many ape projects who
are trying to be the next Bored Ape Yacht Club and
almost all of them are doing great.
Project 2: Catch King - https://www.catchking.io/
We wanted to present you with multiple examples of the
two most popular blockchains, so you can get an idea for
both because there are times when you can make an
exception to the KPIs.
Catch King is a project on the Solana blockchain which
has pixelated art. They already have a working game so
the utility is definitely there. You would be getting into
this project solely for the utility.
On top of that, as of the time of writing, they are a
couple of weeks old and have around 400 members on
their Discord channel, so if you would be getting on the
project now, you would've had a guaranteed shot at the
whitelist.
The supply is 5.555 so it's under the KPI cap of 10.000.
We have been in 2 similar projects on the Solana
blockchain that had games ready to go. The NFTs were
playable characters in the game and we saw incredible
results with both of the projects.
So, ideally, we are buying this project because of a
pattern we saw before. We emphasize this as it is very
important to recognize these patterns, so you can repeat
your success. This kind of experience can also help you
to make an exception to the KPIs.
You should always aim to find projects that match the
KPIs but there are times when you can go above and
below the parameters and that would be when you see a
pattern so you would get in a project and get whitelisted
and see where the project goes.
Another project that we did really well on was
MekaVerse which only had the art and it still blew up. So
exceptions can definitely be made once you get used to
understanding these patterns.
The way we broke down Knights Of Chain is exactly how
you should break down every project you aim to get in
and if they match definitely get in.
Finding Profitable Projects On The Secondary Market
To make a killing in this business, you ideally want to
mint profitable projects with the parameters we
mentioned above. However, you should always be
looking on secondary markets like OpenSea to do quick
flips which can bring you some juicy profits fairly quickly.
To get started on the secondary market go here https://opensea.io/activity
What you wanna look for is a pattern of multiple NFTs
from one particular project that's being sold multiple
times in a matter of minutes.
Usually, that's determined by external factors like PR or
shoutouts by an influencer. You can go find out what is
happening by joining their Discord or Twitter, and
confirm whether there has been a high level marketing
activity.
When you click on the collection of the project that you
are interested in, you will see a floor price listed at the
top. That is the lowest price someone has listed an NFT
from that project.
Next, you will sort by "Low to High" and filter the NFTs by
"Buy Now" on the left sidebar, which basically shows you
every NFT in that collection that has been listed for sale.
What you want to look for is the difference between the
lowest to the next few ones (as shown on the example
on the previous page).
If you see an NFT that has the lowest price at 0.269 ETH
(as shown in the example) and then the next one is at
0.27 ETH and the third one is at 0.275 ETH you would buy
the cheapest one right then and there and list it for
0.274.
By doing that, the second one (priced at 0.27) becomes
the cheapest, and once that is sold, your new NFT will
have the cheapest price. If the trade activity of the
project is high (which we already mentioned is crucial
for the project), you should be able to sell your NFT
within minutes.
Now you just made a nice profit of around 0.05 ETH
(almost $200 as of the time of writing) by flipping NFTs.
Scaling Up and Conclusion
Now you know exactly how to find promising NFT
projects like Knights of Chain or Catch King at mint.
You also learned how you can find profitable projects on
the secondary market that you can easily flip.
You should now try to get involved in as many projects
as you can while keeping within the KPIs that we
covered. You will be making the most money from the
flips that you get from mint like the ones above and then
you should funnel the profits into secondary markets like
OpenSea and Solanart and do quick flips on a daily basis.
If your budget allows it, try to aim for 5-10 quick flips a
day and get on as many mints as you can on projects
with high potential.
Finally, when you are getting into a project early and you
mint, try to aim for 2-3 NFTs at mint. This will allow you
to sell 2 (if you bought 3) of them right away, which most
of the time will get you at Break-even from your initial
investment. You then keep the final one for the chance
of price increase on which you can earn some serious
profits.
And that's it!
Congratulations! You have just finished reading the
entire NFT PowerClass Guide! Thank you for your
attention, we hope you enjoyed the guide. Be sure to
always apply the strategies described when looking for
new NFT projects.
Remember, there is no magic formula for choosing
winning NFT projects. Always do your own research and
never spend more than you can afford to lose. Patience
is a virtue when it comes to investing. Invest in solid NFT
projects, take measured risks and enjoy the rewards!
We sincerely hope this guide has provided you with valuable
knowledge on how to get started in this incredible and growing
industry. Remember, only action can bring you results. Best wishes
for success.
NFT PowerClass. All rights reserved.