If you are reading this, it’s probably because you’ve been poking around the NFT space and community and have some questions. Unless you are sleeping under a rock, you definitely know that NFTs and the Metaverse are on fire right now. Bored Ape Yacht Club and Cryptopunks have opened up a completely new digital sector of crypto collectibles. 2021 proved to be the year of massive adoption for the NFT market space. NFTs are more than just collectible pieces of art, many are now adding utility to them and are starting to be integrated within the Metaverse. CoinMarketCap reports that the sales from NFTs has reached over USD 19 billion.

Get In Early, Get Out Big!

Finding profitable good NFT projects can be difficult. There are lots of things to consider and a lot of places to look. Hopefully this can help you narrow things down. Twitter is king and the place where NFTs live. It is one of the best places to learn about upcoming projects, discover its communities and keep up to date with certain projects. Find projects on Twitter using the hashtags #NFT, #nftart, or #NFTCommunity hashtags, you’ll be finding yourself down the NFT Twitter rabbit whole where the NFT community is extremely active. Discord is a great place to find NFT projects but it is not always the easiest to use (how to use Discord).

GET Twitter!

To help you get started, here is a list by its blockchain of the 15 top NFT influences on Twitter to get you started:

Opensea

OpenSea is one of the most popular peer-to-peer NFT marketplaces to buy, sell, and create NFTs on web3. Here, users can watch OpenSea activities, watch trends, sales and recurring collections.

What to look for

If you are going to invest your own money into something, it only make sense that you spend time learning. The NFT space does take a bit of time but if you are willing to put in some extra efforts your chances of finding good projects increase dramatically. A good approach is one that investors would typically use to measure success for startups:

Traction (social, discord, influencers, etc.)
Team (people invested in the success of the project)
Sales (# of sales and price movement in recent days/weeks)

Community

A lot of the NFT market place is really community-driven. A good NFT project will have a healthy community following them. The ones with the most engagement are usually the projects which will be the most successful. NFTs are more than just owning a piece of art, they are being part of a community, where a culture has been created, and culture creates a following. The Bored Ape Yacht Club is a prime example of this effect. They created a culture — a following where people wear their merchandise and flaunt it with pride.

A project with a great community will speak with passion about the project. This should be seen as a good indicator that the project has a good potential for succeeding.

Signs of a good project

Now that we know where to look for projects, what to look for in a project, let’s take a look at some basic elements that represent signs of a good project.

10k + Twitter followers and a great development team (@FastFoodPunks or @RumbleKongs are just a few examples)
Engaged online community (@LazyLionsNFT does this really well)
Multiple sales in the past days, with the floor price rising
10k Discord members
Strong project roadmap
Look into is who’s backing it?
Global celebrities or influencers standing behind and purchasing an NFT

Finding the right NFT project for you and your long-term investment portfolio is not easy and will require work. Stick to these three simple rules: find what you like, do your research, and never spend more money than you can afford to lose.