An NFT is not just an image that anyone can copy and paste and say, “Look, I own this NFT.”
NFT is a non-fungible token stored on the blockchain. There could be many types like photos, videos, and audios. Nonfundgible is a stylish way of saying that it can’t be replaced with something else.
Think of it as a one-of-a-kind collectible card.
Could someone take a picture of a rare playing card like the one above, print it out and make it look like the original?
Yes, of course, but will this make the playing card almost identical as soon as it is printed just as valuable? No, of course not, that’s why you can’t just copy a jpeg of an NFT and save it and think you own it now.
It doesn’t work like that…
What is the most popular NFT?
This will change every day. New NFTs are popping up every day, even every minute, as new people find new ways to buy and sell them. At the time of writing this article, the most popular NFTs at this point are
- Monkey bored yacht club. This is a collection of 10,000 NFT of bored monkeys where it gives you access to member-only perks.
- Cryptopunks. These are 10,000 unique characters
- Fantastic cats. These cats you can buy are randomly generated on the ETH blockchain
Can you make money from NFT?
Yes, you can make money from an NFT by selling it more than you bought it.
How is NFT created?
There are many steps to follow to create an NFT. You have to choose an item, choose the blockchain you want to use, set up a digital wallet, select an NFT market, upload your asset.
Is NFT a good investment?
Everything can be a good investment if your timing is right. So many have made millions buying and selling NFT. You need to find the right ones, which we will try to show you in this article today.
How do I trade an NFT?
There are many ways to do this. One of the most popular ways is to buy Ethereum. Most NFTs are ETH-based tokens. Next, you need to get a meta mask account and link it to OpenSea or any other market. This is when you can buy and sell. Don’t worry if all this sounds like a different language to you. We will explain how to set up all this below.
Why are NFTs worth so much?
It’s because they’re unique. Think of a famous painting like the Mono Lisa. It is estimated that it could be worth more than $ 850 million. As inflation continues to rise, this will also increase over time.
How much does it cost to sell NFT?
One thing that costs a lot at this point is gas taxes. Almost all popular NFTs rely on the ETH blockchain to validate transactions. So when you ask for this, there is no simple answer since gas tariffs are volatile.
Ok, now that we’ve gotten some of the fundamental questions out of the way, I want to outline a basic NFT trading strategy for you. First, remember to do your research and always and only invest in money that you can afford to lose.
Our NFT Trading Strategy Rules
Follow the steps below to find the best NPTs!
NFT Trading Strategy Step #1: Set Up Your Crypto Wallet
I’d tell you all the steps to get this setup, but this article has a great step-by-step guide on how to set up coinbase or meta mask.
So instead of showing you all the steps here, why don’t you stop for a second and prepare yourself by following the steps here if you still need to do so. I guess at least one of you reading this article hasn’t set it up yet, so before you do anything else, you need to create your own crypto wallet.
Step #2 Go to opensea.io
This is quite simple. Go to the market where the NFTs are located to buy and sell.
Step #3 Find your NFT
This is where the magic begins. Once you are on opensea.io familiarize yourself with the site as there is a lot to do.
Finding your NFT won’t be easy as you’ll be doing extensive research. However, I will share an example of one we like and why.
To find the right one, you need to focus on four criteria.
- Fan base – Do you have an enthusiastic fan base?
- Loyalty – Are the people who follow you loyal?
- Interest – Is there a rapid growth in interest?
- Verified – Does it have a verification check mark on opensea?
These are key to finding the right NFT to invest in.
How to find an NFT that has all four of the above criteria.
Some of the sources we recommend are YouTube, Discord, Twitter, even Reddit. So what you do is go find an NFT on the market and then search for that NFT on YouTube, Google and even try to find a discord (if they have one). It will be easy to locate the project is a resounding success from the number of video articles on that NFT.
There are a lot of scammers out there, so be careful not to fall into any scam. If someone promises you something like ETH will give you just send them 1 ETH, not trusting them is a scam.
You can also visit the top-rated NFTs on opensea here.
Our No. 1 recommended NFT for 2022
Our NFT #1 choice that meets all our criteria is called Shiboshis
Most of you have probably heard of the Shiba Inu cryptocurrency. These are the official SHIBOSHIS of the Shiba Inu community.
Shiba inu has a crazy fan base. In fact, we also have a great Shiba investment strategy that you can learn here if you are interested in a trading strategy for Shiba.
Their fans are enormously loyal to this, and it has had a great deal of interest. They are also verified on the opensea market, which is a very good sign.
This NFT has so much potential to increase overtime as the community gets bigger and bigger. This is a recommended buy-and-hold strategy as something like this won’t increase by 1000% in a single day at this point. However, you will see huge growth potential with continued support and growth potential of this project.
Before the conclusion of this article, let’s insert some fun facts about NFT
What is the most expensive NFT ever sold?
The most expensive NFT ever sold was pak’s “The Merge” on December 2, 2021, it sold for $91.8 million! There wasn’t just one person who bought this was a group of about 30,000 people! Wow!
This article has a great list of the 5 most expensive NPTs ever sold.
How much is an NFT?
Normally, NFTs sell for less than $200. This is the average selling price. So, if you find the right one in advance, the $200 investment could be worth thousands of overtime!
Which countries are most interested in NFTs?
Based on the interest of Google search, China and Singapore are the people most interested in NFTs. An interesting note about the United States is that they don’t even reach the top ten as far as interest is concerned. This may change over time, however as NFTs continue to grow in interest.
How many NFT sales are made every day?
Based on NonFungible.com data there are about 15,000-50,000 sales per week. In 2017 there were only 100 sales per week on average, so you can see the amount of growth!
How fast is the NFT market growing?
It increased 10-fold between 2018 and 2020. It continues to grow every day with no signs of slowing down!
It’s no secret that a good NFT trading strategy could make you a lot of money. The secret to finding a good NFT investment strategy is to find a loyal following. If they are verified, it is a good sign that it is not a scam and you are good at investing if you find that the NFT has a massive fan base. To become an NFT strategist you need to do a lot of research on the web. Do not be afraid of research, this is very important when investing in NFT.