How to Research NFT Projects?
The NFT space is abuzz with innovation and opportunities, especially within the Solana ecosystem.
How does one sift through the countless projects to find those generating buzz and stand out for their quality? Stay with me as we break it down step by step, navigating the waters of NFT research together.
First things first, let’s establish that the world of NFTs is diverse. What works for a blockchain like Solana may not hold water on Ethereum. So, strap in as we tailor our approach to the nuances of Solana NFT projects.
Chasing the Hype Train — Is Your NFT Project the Talk of the Town?
A project’s hype can tell a lot about its potential. It’s the buzz that attracts a crowd, the chatter that fills forums, and the thing that makes an NFT project special and exciting. But we aren’t just after a fleeting moment of fame. We’re searching for a true product-market fit. Do people really want this? Will they still be interested in it beyond a few days or weeks?
Sure, we could delve into the nitty-gritty — like scrutinizing the team behind the project and their ability to deliver on promises. Yet, in the crypto world’s cloak of anonymity, we’re often playing a guessing game, so these factors are not always in our control.
Become the NFT Angler — Learn to Fish for Projects
I could spill the beans on all the latest projects, but where’s the fun in that? Instead, I’ll teach you how to fish for worthy catches. Today, let’s reel in our focus on Owner’s Club GG.
Twitter as the Starting Point: Followers, Engagement, and Red Flags
Twitter is your go-to for an initial temperature check. Take a peek at the follower count, but don’t stop there. A critical eye helps when assessing join dates to avoid potential red flags. A brand-new account or one purchased and repurposed might hint at an inorganic following.
Engagement is key here; likes, retweets, and views on posts give us a glimpse of community support. However, look beyond promotional tactics that boost numbers, such as tasks for giveaways, and dig into typical engagement levels for real insight.
The Critical Aspect of Product-Market Fit
A wise man once said that if you’re early, you’re on time, and in the NFT world, that can mean everything. The precedent of a successful horse racing game on Solana suggests the demand exists. With big bucks at stake, joining in early on a potentially profitable NFT project before price tags hit the roof can be a game-changer.
The Devil is in the Digital Details — Website and UX Matters
A project’s website is the digital storefront, and you’d want it to look spick-and-span if you’re vying for a slice of the million-dollar NFT pie. A clunky UI/UX raises eyebrows, especially if a polished mobile app is in the pipeline.
Meet the Team Virtually
While faces and detailed profiles lend credibility, the Web3 world often treads the path of privacy. However, platforms like LinkedIn can offer a peek behind the digital masks — if that’s something you prioritize.
Dive Into Discord — The Alchemy of Successful Research
Discord channels are bustling hubs where a project’s pulse can be felt. Seek out the summaries, sift through alphas and FUDs, and put together the bigger picture of the project's goals.
Venture into announcement channels, delve into FAQs and chase down elusive whitepapers (or Gitbooks) for the intricate details that paint a holistic view.
Spaces, Support Tickets, and Speed Reading — The Research Trifecta
Upcoming Twitter spaces, engaging directly with the team or project managers, and speed reading through documents can uncover layers of knowledge about the NFT project’s ins and outs.
Don’t be shy to reach out — respectful communication often leads to enlightening conversations and, potentially, valuable information.
Pros, Cons, and the Presale Verdict
When you list the pros and potential cons and weigh them against each other, you lay the groundwork for an informed decision. A strong team with an acceptable roadmap could tilt the scales towards grabbing those presale spots.
Remember, a roadmap is a plan, not a promise. Can the team deliver shortly after mint? This requires a discerning look.
In Conclusion: Your Roadmap to NFT Research Mastery
Researching NFT projects effectively is similar to assembling a puzzle; every piece of information adds to the bigger picture. Stay curious, dive deep, and engage with communities. You never know — the next NFT gem could just be a tweet, a discord message, or a gitbook away.
In my upcoming post, we’ll tackle keeping up with your current NFT holdings. But until then, happy fishing in the NFT sea!
“Remember, the key to your NFT success might be a combination of timing, engagement, and a dash of digital due diligence.”
Stay tuned, and as always, stay curious!
Disclaimer: This is a helpful blog. Follow me on my socials, but remember this is NOT FINANCIAL ADVICE. I am making this content as a community member because it is great to learn crypto, playing on Solana is fun, and it is easy to onboard friends into the space with a game like this.
My opinions are my own. You can research more if you wish; if you decide to degen, that is your decision!
Follow me on X: https://x.com/SebMontgomery