The popularity of DeFi invest is growing, more and more investors and artists prefer to upload their works to the digital space. Nevertheless, there are a lot of fake and useless projects in the industry that are worthless. We figured out which points should be taken into account and what to pay attention to when buying NFT.
Always invest in popular and potential NFTs
To begin with, you should invest only in those NFTs that are of interest to you. After all, what’s the point of buying something you don’t like? Look for the “next best DeFi invest” NFT that suits your interests, not just the “next best” NFT.
If you value football and are knowledgeable about players and teams, the soccer NET project is a great place to start your research. Alternatively, if you are a true fan of contemporary art, you should be more interested in contemporary artists and their work.
This is the first step in the question of how to find out what NOT to buy and what best suits you and your investment portfolio.
There is a curatorial selection on the marketplaces that assesses the value and prospects of the collection. Cryptocurrency investment companies use such methods. But you can also study the topic yourself and follow the work of promising artists.
In addition, NFT projects that have a community would be a very good investment choice, even if their art is not so well known. You can determine how large the NFT project community is by the number of followers on Twitter and social networks and by learning the future goals and plans of the NFT project.
Do your own research to find out which NFT to buy
Who doesn’t like to do some research? After you have identified the NFT you are interested in for purchase, it’s time to find out everything you can about it. It’s not so easy to do research and choose the best NFT to buy.
When choosing long term crypto NFT investment, you need to evaluate promising artists, illustrators and developers, and monitor their work and promotion. Here it is necessary to have the knowledge and flair of an expert.
Resale of NFT
The secondary market of non-interchangeable tokens has surpassed the primary sales market several times, and exceeded the $15 billion mark at the beginning of December. However, not all NFTs are in demand and are growing in price.
NFT projects — are not about hot to get fiat from crypto. NFT projects with more followers on Twitter and social media are more likely to have more value. Collectors are really willing to invest in their projects and outbid new NFTs, so the price of these NFTs is also likely to grow in the future.
Thanks to this, you will not only be able to sell your NFTs quickly if you want, but you will also be able to make a profit. However, in order to turn NFT trading into a profitable business, you need to become an art expert and track all new and promising projects. As a hobby, this direction will not bring a permanent income.
Originally published at https://oxly.io on January 17, 2022.
