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 such as photos, videos, and audios. Nonfundgible is a fancy way of saying 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 and make it look like the original?
Yes, of course, but will this make the almost identical freshly printed playing card 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.
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, the most popular NFTs at this point are
- Bored monkey yacht club. This is a collection of 10,000 bored monkey NFTs where it gives you access to member-only benefits.
- Cryptopunks. These are 10,000 unique characters
- Amazing cats. These cats you can buy are randomly generated on the ETH blockchain.
Can you make money from NFT?
Yes, you can earn more from an NFT than you bought it.
How is NFT created?
There are many steps you can follow to create an NFT. You need 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?
Anything 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 exchange 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 marketplace. This is when you can buy and sell. Don’t worry if all this seems like a different language to you. We’ll explain how to set up all this below.
Why are NFTs worth so much?
It is because they are unique. Think of a painting as famous as the Mono Lisa. It is estimated that it could be worth more than 850 million dollars. As inflation continues to rise, inflation will also rise 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 this, there is no simple answer since gas taxes are volatile.
Okay, now that we’ve got 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 invest only in money that you can afford to lose.
Our NFT Trading Strategy Rules
Please follow the steps below to find the best NFTs!
NFT Trading Strategy Step #1: Set Up Your Crypto Wallet
I would like to tell you all the steps to get this setup, but this article has a great step-by-step guide on how to set up with coinbase or meta mask.
So instead of showing you all the steps here, why don’t you stop for a second and prepare by following the steps here if you still need to do so. I guess at least one of you who is 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 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 plenty 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 – Does it have an enthusiastic fan base?
- Loyalty – Are the people who follow her loyal?
- Interest – Is there a rapid growth in interest?
- Verified – Does it have a verification checkmark on opensea?
These are crucial 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 look 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 plenty of scammers out there, so be careful not to fall for any scam. If someone promises you something like they will give you ETH just send them 1 ETH, not trusting them is a scam.
Our #1 NFT recommended for 2022
Our NFT #1 pick that met all our criteria is called Shiboshi
Many of you have probably heard of the Shiba Inu cryptocurrency. These are the official Shiboshi 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 great 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 the continued support and growth potential of this project.
Before this article concludes, let’s throw some fun facts about NFTs
What is the most expensive NFT ever sold?
The most expensive NFT ever sold was “The Merge” by Pak on December 2, 2021, it sold for $91.8 million! There wasn’t just one person who bought this, it was a group of about 30,000 people! Wow!
How much does an NFT sell?
Normally, NFTs sell for less than $200. This is the average selling price. So if you find the right one upfront, that $200 investment could be worth thousands of overtime!
Which countries have the most interest in NFTs?
Based on Google’s search interest, China and Singapore are the people most interested in NFTs. An interesting note about the United States is that it doesn’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 each 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!
Conclusion
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 to research, this is very important when investing in NFT.