If you are a regular reader of our social networks, you have seen our selection of promising drops of NFT collections. And often, they are paid off and profitable. How do we find them?
We will answer this question in today’s article! Let’s talk about all the points that we adhere to in the process of analyzing the drop. After reading, you, too, can begin to evaluate the prospects for NFT collections.
First, look at the collection.
Let’s start with what the collection looks like. Even from a superficial assessment of the art, one can understand whether the collection will succeed. What points to pay attention to:
- Panache. Here you can specify which style is being used. Pixel art or 3D models, hand-drawn. Now pixel art has become tedious for many in the community, and beautiful pictures that can be put on the profile picture immediately catch the eye.
- Generative art or not. This item implies a mechanism for creating art. Generative – when the primary model is created and attributes are drawn to it. Then they are loaded into the program, and it randomly generates new characters. The opposite example is hand-drawn art, such as Animal Red List, where all animals are unique and created in one copy.
- Famous artists. Perhaps behind the collection art is a popular artist who works/used to work in large companies.
But do not forget that now is not 2021, and you cannot feed the people with pictures alone. Therefore, further, we will analyze more fundamental parameters by which it is worth evaluating the drop.
Checking social networks
NFT projects need to run some pre-mint promotions for them to be successful. And an important aspect is the maintenance of social networks. The main ones are:
- Twitter. The leading platform for looking at NFT collections because the Twitter page, which is a public place where anyone from the community can see the progress of the collection. There are all sorts of drawings, important information, and collaborations.
- Discord. Along with Twitter, the discord channel is also the foundation of the NFT collection. It also publishes essential information, announcements, communication with the community, and so on. However, it is often a closed community, where getting into it is difficult.
- Telegram. Applicable only to collections on TON; all information is told only there.
There are no clear criteria for evaluating work with social networks. But basically, you should focus on the fact that the activity under the posts in each platform should be at least 10% of the total number of subscribers.
Also, do not forget that information should appear there regularly, so also pay attention to the dates of publications.
Location of the mint
This is also a critical point. There are 2 options here:
- On your site. This option is straightforward for the creators of collections, but it does not inspire confidence in most of the community. Because there were a lot of scam projects, because of the mint on the site, people lost their funds and investments.
- On the marketplace launchpad. This method is more reliable for users since, here, first of all, they trust the marketplace on which they launch. For example, most of the successful mints on the Solana blockchain take place on the launchpad – Magic Eden and Ethereum – frimint. The sites have already earned trust, so users are not afraid to mint NFT there.
But both methods are suitable, so it’s impossible to say that one is safe and the other is not. Therefore, we only shared our observations, which we revealed during our work in the field of NFT.
Evaluation of the project plans and its founders
Do not let the creators sit on your ears! Always take a realistic look at the plans of the collection, whether they are realizable or not, whether there will be enough funds for this, and whether they will make sense to you or the community in general.
The technical products behind NFT collections are beautiful: P2E games, new technologies, developments, and platforms. This makes it easier to understand whether or not the NFT will be valuable in the long run.
It can also be some intangible proposals that also have their usefulness. For example, adding to closed groups/chats, where they evaluate promising drops or DAOs that will help you get whitelists for other collections.
Why is it worth looking at founders and partners? They weigh the NFT movement. Those. If a fund known for its successful cases has invested in a project, for example, Solana Venchures, there is more trust. Or influencers with a good reputation talked about the project on their social networks, which gives some confidence that the collection was noticed by large players in the market.
It is often effortless to understand who the founder of a collection is. They say so. And wherever possible.
If the guys who flew into all the drops on Aptos had taken this advice, they would not have lost their funds on the rects. At this point, you need to be reasonably aware of whether the collection can run. This can be understood, at least from the information about the mint.
Look at the supply and the price. Compare the number of audience in social networks and supply, will there be a mint sold out if the number of pictures is almost equal to the number of subscribers? Most likely not. Therefore, for example, collections with a supply of 5,000 NFTs with 6,000 followers are unlikely to get sold out on a mint, if only technically, when the rest is bought out by themselves.
Looking at the situation on the NFT market in the current realities, you can safely skip unprofitable drops. So, if people were to draw parallels with the parameters of collections on Aptos and Solana, they would calmly conclude that if this collection were for SOL, they would not buy it because of the high cost.
The price-to-supply ratio during a bear market is too high for many users. Since anything is bought during the bull-calf at overpricing, now every penny is important.
NFT analysis is complicated; it will not be possible to say whether it is a promising drop, relying only on dry facts. There may be factors that are overlooked. Perhaps the collection was not of interest in advance, but suddenly all kinds of influencers began to shill it, and it gave an exhaust. Or promising at first glance, the project did not live up to expectations.
Always do your own research and invest only in the most trustworthy projects. It is better to enter 1 reliable collection, which is more likely to give some profit, than 10 of the same type, promising x10 profit!
But where to look for drops to start gaining experience in evaluating collections? Of course, in our “Drops” section, all the most relevant drops on the Ethereum and Solana blockchains are published there – the two most popular for NFT trading!