The NFT market reached $2 billion in total sales,
Q1 of this year.
Six months later, that number was well over
$10 billion.
So this is an industry that is growing at an
extreme pace.
because personally,
and I built a process that will allow you to
follow step by step, a checklist to best
find NFT projects to flip
for massive profits.
So starting with the goals,
we have two major goals here.
With these goals in mind,
just because I saw it in a Twitter thread
or a TikTok about it.
Now, there are strategies to follow
in buying already successful NFTs.
But this isn't my strategy.
There's just too much downside risk,
if you ask me.
I would rather buy 10 strong NFTs
at a floor price of 200$
than I would one NFT for $2,000
that has already pumped 10X.
That's just my personal strategy.
So that being said, NFT investing is
extremely high risk.
Not only do you have the volatility risk of crypto,
but you also have a secondary risk
of an NFT collection becoming less popular
and a tertiary risk of no liquidity
and not being able to sell the NFT
you hold if there's no buyers for that NFT
because they're one of one.
The strategy that I've built helps limit the downside here,
but there's still a large chance
of losing money, especially when you're just starting out.
So invest in your own risk,
and none of this is financial advice.
- Do you have any tips or ideas about sure things?
The checklist that I've built covers a
combination of questions about the community,
the project's website, the artwork,
the team, and a project's unique
positioning in the market.
All right, starting off NFTs feel overwhelming.
This is totally normal.
It seems like a new one comes out every
half hour, and I swear half of those
emailed me asking for a sponsorship.
- When the son of the deposed King of Nigeria
emails you directly asking for help,
You help.
- No, I'm not going to sponsor your NFT.
- His father ran the freaking country.
Okay?
So we have a sea of projects to sift through,
and now we have a sea of blockchains
that they can be built on.
You know, from Ethereum, Cardano to Solana,
Binance, and many more.
For the sake of flipping, I don't really care where the
project is built.
However, of course I would personally prefer
not to pay the crazy gas fees on Ethereum,
if at all possible.
But generally I'm just looking for the best
project, and the blockchain doesn't matter
quite as much.
Now because there are too many options
for any one person to look at,
we need to use some tools.
My favorite tools so far
for finding projects are upcomingnft.net
and rarity.tools
So if there's other tools that you like, comment them down below.
That'd be very appreciated.
But remember,
We're going to use rarity.tools for this breakdown.
rarity.tools is nice because it shows us
projects that are about to launch.
All you need to do is click the
"Upcoming" tab up top.
And then here it does a lot of the legwork for you.
Here you can see that it shows
products that are built on many different blockchains
Here are Matic,
Solana, Ethereum,
and it shows you the various social links,
discord, the Twitter link, their website link,
the time of launch for the various projects
and the floor price.
So it does a lot of the legwork like I mentioned
in getting that initial work here.
However, even though this is a big filter,
there's much more legwork to go from here,
if you're trying to really amplify your
potential returns because you want to
spend all the time up front.
That way, you can rest easy
knowing that you have the highest likelihood
that you've done everything you need to do
in order to maximize your returns.
So scrolling down from here,
let's go down to November 6th.
And on November 6,
we have this project: Mad Ape Tournament.
Now, this project is pretty interesting because it has a
fairly large following.
So I wanted to go ahead and break this one down
using the checklist that I made for NFT projects.
So first, starting with their Twitter here,
we have their Twitter.
We can see that there's about 10,000 followers here,
and I want to look at engagement on their Twitter.
So beyond just checking followers,
we know that you can have fake followers,
especially on Twitter, this is rampant.
So we want to actually check engagement
on the posts.
So engagement honestly looks
a little bit light given that 10,000 followers here.
I also like to click on posts
and then see who is commenting
and you can go even further to click on these individual
people and see if they're actually real people
or if they're just bot accounts.
And this will kind of build up the legitimacy
of who's actually talking about this.
Just start with the mindset that
everyone is a bot and then
verify that hey, maybe they're not a bot.
- Am I scared of a stupid computer?
Please, the computer should be scared of me.
Then also you want to check out their discord.
Now, most of these projects are going to be
very active on Discord.
So you want to be familiar with this.
Also, I have a discord. It's linked down in description.
If you want to join, go ahead and join.
So this project discord is actually fairly large
with more than 80,000 people.
But what I'm really looking for here
is not just the sheer size, but again, we're looking for
engagement from the fans of
of this project and engagement from
people who are running the projects, you know,
the founders, the mods,
are they actually answering questions?
Are they making posts?
Are they updating people?
This takes a little bit of legwork,
but again, we want to do all the work up front.
That way we can maximize our returns in the end.
And they seem fairly active in here.
Now, the next thing that we want to check,
is their website.
So on their website,
you want to just make sure that it is a solid website.
You know, they're building an online project.
The very least they can do is make a solid website.
This one is simple.
I don't see any issues with it,
but I look for things like,
Are there broken links on the site?
Are there founders on the site?
which we're going to talk about in a second,
what you want to look for with founders.
What is the general feel of the site?
Is there any spelling errors?
You know when you're on a bad website,
you know when you're on a good website
and that's really all I'm trying to do.
One of the most stereotypical things
you'll find in projects that are
rug pulls or complete scams is
their websites are terrible.
So it's just one minor thing that you can do to verify.
- www.creedthoughts.gov.www\creedthoughts
Now, again on the social aspects,
one thing that I like to is I don't look
for a specific number of followers or
people, but let's say I see a collection
that has 10,000 unique NFTs
and their following is more than 10,000.
Now one thing you'll also want to do is play the long game a little bit.
If there's a project that you're following
and you seem to like it.
Let's say they have 2000 followers,
track those followers and see if they're
increasing in the time before launch.
If they have 2000 right now,
launch is in two weeks,
If in a week from now they have been 4000,
that's a good sign that the Hype is building
and they may have a successful launch
and you could have a successful flip at that point.
Now, the next thing that you want to look at, is
the founding team.
We have a few questions to ask here.
So first on the website,
it should show the founding team.
Now some projects, they don't show.
I personally just avoid anything that doesn't
show the founding team.
So for this example,
this kind of threw up a little red flag
for me because there was no actual
pictures of the founders,
and the descriptions were pretty vague.
And I was like, I don't know how I feel about this, but
digging into this project a little bit more.
I saw in their discord, they had a much mor
detailed description of who the founders are
and their background experience, their LinkedIn profiles and things like that.
And I'm like, okay, that's a little bit better.
So this is a good point to make here that
sometimes it takes a bit more digging.
In my opinion, they should
update the website and have more information here
because my initial impression was
you know, maybe I should avoid this, but then I
found more information later.
So this is another one of those things
that you'll find with many rug pulls
and complete scams
is that they either don't show the team at all
or they do show people, but they're completely fake.
You know, they're like random person generators,
or you can reverse Google image search and
just some random guy from Ohio.
- Identity theft is not a joke, Jim.
You want to have people who have legitimate
socials who are legitimate people with
experience, especially if it's like
a game or some kind of project that's being built.
I personally wouldn't buy into an
NFT project that's aiming to be a game,
but they have no experience in making games whatsoever.
Of course, that's higher risk in the project
not actually doing well.
Now, from here, this one's a little bit more subjective,
but I have some questions to ask about the art.
Does the art feel like art?
Or is it just a blatant copy
of some other successful NFT project?
So like I said, this is pretty subjective,
but you can just kind of get a feel
if art feels uninspired or a ripoff
of another project.
- This is motel art.
That's probably one that I'm going to avoid.
You can ask yourself some questions, like,
Do I like this art personally?
which I think you should if you're buying an NFT,
because worst case scenario, you might be stuck with that
NFT if no one buys it
in the long run down the road.
And is there anything unique
or different about that art
that stands out to you?
Because NFTs are so easy to make,
the market is pretty saturated.
- Yes, sir. We sell pretty patties.
And that brings me to the last major subject area
of my checklist - How are they different?
So on this checklist, you can check all that applies.
You can add more if you want,
and you can add your findings anywhere on this.
Again, you can download this complete checklist
for your own completely free.
It will be linked down in the description.
So the first question, Is there a unique
use case for this NFT?
I think the times are gone where
we'll see very many additional projects
become popular simply because it's a JPEG.
I think more and more-
They're going to have to have some kind of unique positioning.
So there's some kind of unique use case.
I think in the long run, NFTs will have
use cases, ultimately.
Now, is there some kind of utility?
This could be a version of use case, and
in that, you generally have to read the white paper.
Now, not all NFT projects even
have a white paper.
Usually the more ambitious ones do.
If it has a white paper, make sure you read it before you invest.
Is there a unique community of some kind?
This could be the size of the community.
Is it a massive community before launch?
Is it a certain genre of people
who may be especially interested in this project?
Are there people within the community who have
especially large amount of influence?
Those are some questions you could ask there.
It attached to something unique?
like a game, a Metaverse or some kind of unique benefit.
Now more and more we're seeing
the Metaverse and game aspect here
but you just have to be careful that there's actually
experience behind this.
I foresee a lot of projects
saying we sell out our 10,000 pieces in our collection,
we're going to make a game,
but they have no experience in making a game,
and it's just a good way to get people to
invest in that project because they're like,
oh, they're eventually going to make a game, but they literally
haven't even started yet.
So I want to see some experience.
I want to see something.
Give me something.
Is the art style special in some way?
Of course, that's harder and that's more subjective.
Or is there a massive amount of excitement?
And usually when there's a massive amount of excitement,
it's because one of the other boxes are checked.
There's something especially special
about this project or some use case.
There's something different.
That's what I'm looking for.
- Now it's art.
So with this checklist, it's not
that a project needs to score perfect,
but it's more like a report card.
The better it scores,
the more likely that that project
is to do well.
But again, it's not a guarantee.
So I think the best method here is
to go through, spend a ton of time
digging through these projects, be extremely patient,
pick just the select few that you like,
maybe buy in at the floor.
Like I said earlier of ten different projects
or whatever your budget might be.
I think it's always important to have your safe investments
in line first before you're doing anything like this.
But, it's your own life, none of this is financial advice.
If you do all that, your odds are going to be much higher
that you find that 10X, 100X potential flip
because you're doing all that work
up on the front end.
So I hope that this was especially helpful
in narrowing down how to find NFT projects.
If you want even more content from me,
make sure you join my Patreon where we have a
private community talking about all things-
Crypto, Investing, NFTs.
You get additional private content from me.
You get buy and sell alerts.
You get a whole lot more and I
hope to see you there.
I hope that this video was helpful
and I hope you have a profitable day.