How do you evaluate NFT potential?

In an ideal NFT future, doxxed founders should be the norm. Visibility breeds trust. Yet, anonymity is the common path. Despite this, anonymous creators can still establish credibility by being vocal in AMAs, active in spaces, and transparent with their strategies and roadmaps. Staying engaged with the community and having clear, actionable plans for their projects are non-negotiables for sustaining trust and success!

In web3 advertising isn't able to compete with the creators. Why so? Because creators have their unique style, and authenticity, and gained trust (hopefully) based off of what they're making sold outs. Developing a personal brand, that correlates with your ICP - is a huge underrated skill. We're in the creator economy, and the forecast makes me soo pumped! Not the place for PPC ads..

It should be noted that a public blockchain, as is the case with Ethereum, is a trustless environment, in which the authenticity of the agents that intervene in it must be guaranteed organically, without intermediaries. Thus, a crucial element in the creation of solutions based on ntfs is the preparation of a white paper. These documents help to establish a transparent and reliable contact with the target audience.

NFT space is a unique one. Some projects have anonymous founders and manage to raise dozens of millions, while many others with public teams are struggling. Many projects' visions are still visions, never becoming a reality. If there's no business viability, partnerships, etc. consider it a gamble.

Es importante ver el creador del NFT para entender cuales son sus intereses y gustos. No es lo mismo un pintor que desarrolla arte NFT para vender, que una compañia que desarrolla una coleccion de NFTs para su nuevo programa de Loyalty

The most liquid NFT collections are built on Ethereum. Because this is the most liquid blockchain. The next one is Solana though it lost a lot of liquidity recently. All other networks struggle a lot as of late 2023, Polygon gave a lot of hope, but so far no real success for NFT projects built there.

When evaluating NFT potential, assess the platform's security, scalability, and user-friendliness. Consider factors like blockchain network, fees, and environmental impact to ensure alignment with your goals and values. Additionally, prioritize platforms with a strong reputation and community trust within the NFT ecosystem.

There are many different platform where founders can launch their project, and different blockchain to do so. The most used blockchains for NFT drops are: - Ethereum - Solana - Bitcoin - AVAX - WAX Whilst most of the projects use a customer smart contract to launch a new project, some founders prefer to use other website as: - Manifold - Bueno - Subber - OpenSea - Foundation Thank to these platform, there's no need to do all the backend stuff as the platforms already have custom smart contract and minting pages. Lately, lot of artists decided to use these platforms so to launch their projects, avoiding the friction of being developers or hire someone.

The choice of the platform where the NFT is minted and traded can affect its visibility, liquidity, and perceived authenticity. Ethereum, Solana, Avax, Cardano & every other layer 1 + Layer 2. (Now we even have BTC ordinals). Established platforms with a large user base can provide better exposure and more reliable transactions. Consider the platform’s security features, user experience, and the community around it. The more robust and user-friendly the platform, the higher the potential for an NFT to be traded successfully.

Era of NFTs as a PFPs is end. The utility that NFT brings can be in: - huge perceived value of the creator - revenue-bringing model - access to something - extension for some ecosystems (like skins in games) - your tokenized EXPERIENCE & so on. The better you'd figure it out - the more traction you gonna have.

NFT collections are either about art or business utility. If you can't sustain one of these enough, the project will most likely fail. Quality is a subjective metric, though poor quality is usually obvious.

When assessing NFT potential, examine the quality of the artwork or content. Consider its uniqueness, thematic representation, and appeal to the intended audience. Focus on intrinsic value rather than hype or price fluctuations to make informed decisions.

Story, story & story. Nothing drives quality of a collection, items or product with a story. Your audience deserves a story. A story that rallies everyone and a connection to their own story. Only once every single NFT have a story that drives them behind. Then the intrinsic value of the NFT, including its artistic merit, technical execution, and uniqueness, will show.

Art is definitely subjective, and rather than understanding the quality you have to understand the "meta". This means that you have to understand what collectors and holders are looking in a specific period, helping artists to understand what to create based on the request from the market. This lead to increase the quality of arts produced over time, bringing artists to not just produce art for the sake of doing it but, rather, to create art that helps people resonate with it. Lately, Generative Art has been a new topic and lot of great artists jumped into that, raising the bar of creating amazing productions.

Gracias a la tecnologia blockchain podemos ver quienes fueron los anteriores dueños, la cantidad de transacciones que tuvo el NFT, como tambien la coleccion. Esto no dara a entender si hay mercado secundario por ej, y si sera facil venderlo en caso que l querramos hacer

When evaluating NFT potential, scrutinize the metadata and ownership history. Assess transparency, scarcity, and trading frequency to gauge authenticity and desirability. Guard against scams and prioritize legitimate, rare assets in your investment strategy.

Ownership and provenance are 2key elements for NFTs. Buying an NFT previously hold from a great collector means having a highly valued one, that has a value just because of it. Looking at data can be done in multiple ways: - via blockchain explorers: based on where collections live, you can use a different blockchain explorer to see what's behind a single NFT - via marketplaces: different marketplaces keep track of ownership of NFTs, allowing you to see holdings of different wallets - via external tools as Dune or Arkham, super useful in the process of looking into more detailed analysis of projects

Analyzing data such as past sales, ownership history, and price trends can provide insights into the NFT's potential. Look for patterns in the sales volume and pricing that could indicate the NFT's future trajectory. Tools that track NFT statistics can offer valuable information to guide investment decisions.

Staying attuned to trends in the NFT space can offer predictive insights. This includes broader market trends, emerging categories of NFTs, and the ebb and flow of consumer interest. Be wary of fads that may inflate value temporarily. Instead, look for trends with underlying substance that suggests longer-term staying power.

What is the current and projected state of the NFT market or industry? How competitive or saturated is the niche or genre of the NFT? How responsive or adaptable is the NFT to changing consumer preferences or technological innovations? How aligned or compatible is the NFT with your personal or professional goals or interests?

Tight and bonded to the quality of the NFT one, trend and META are of paramount importance as they give you the perspective of collectors. What does collectors like? What's their long term goal? Are they looking for things to flip in the short term or hold for the long one? To understand the meta you have to navigate mostly social media (x and reddit above all) and constantly look at how marketplaces as OpenSea and other ones behave. Looking at the trending pages helps you understand meta and interests of potential buyers. Another great way is by hanging out in active discord channels. Some of them are called alpha, were people use to hang out to look for new promising NFT to be launched.

Consider the NFT's market trend and industry outlook. Evaluate competitiveness, adaptability, and alignment with your goals. Stay informed to capitalize on opportunities and mitigate risks in the dynamic NFT landscape.

Intuition is 99% of making purchase decisions in NFT early-stage projects, and that's totally fine. However, intuition is actually knowledge multiplied by experience, so as you interact with the NFT market, your intuition makes better decisions.

Relying too heavily on gut feeling can be a double-edged sword, especially in a market as volatile and speculative as NFTs. It's important to balance intuition with research and analysis when making decisions. Don't let emotional attachment or gut feelings overshadow the importance of doing thorough research and understanding NFT technology and project fundamentals. The key is finding the right balance between intuition and informed judgment when navigating the complexities of the NFT space.

Look at the project team - Do they have experience in Web3/community building? This brings credibility. Assess the community - Is there an active community discussing and engaging with the NFTs? Strong communities increase value. Examine utility - What can you do with the NFTs? More utility, like games or events, means more potential value. Consider scarcity - Lower supply with high demand can drive up prices. But scarcity alone doesn't guarantee value. Evaluate hype - Is there excitement and buzz around the NFTs? Hype can create short-term value but doesn't ensure long-term potential. Be skeptical of promises - Some projects promise future utilities. But there's no guarantee they will deliver. Focus on existing utilities.

In addition to the topics discussed, it’s crucial to focus on the actual product that is minted by the NFT technology. Ask: What is the intrinsic appeal or value? Is there a market demand? Does it align with current user needs? Assess if the product reflects the brand’s value and message. Look into the long-term vision and roadmap, ensuring plans exist to enhance its value over time. Evaluate the sustainability and scalability of the business model. Ultimately, the nature and feasibility of the product are key drivers of its value and interest.

I am Bernard D'sa, the author of the book "A Brief History of NFTs". When evaluating an NFT project, it is important to consider various factors that can contribute to its success and potential value. Firstly, take a look at the project team. Having a team with relevant experience and knowledge can greatly enhance the project's credibility. Look for team members who have a track record in the blockchain industry or have successfully executed similar projects. Secondly, could you evaluate the community associated with the NFT project? Is there an engaged and lively community discussing and actively participating in the NFTs? A strong and vibrant community can significantly enhance its value.

Evaluate how well the NFT can work with different platforms and applications to make it more useful and appealing. The rarity and uniqueness of the NFT, proven through its metadata and blockchain records, can also be important. Lastly, think about the legal and copyright aspects to make sure the NFT's ownership rights are clear and can be transferred easily.