Is your crypto wallet ready for some NFT shopping? Here’s a new video to teach you an easy and safe way to buy non-fungible tokens right now. Tune in to this episode of NFTs & Beyond —How to Buy an NFT with Ian Abugayda.
Key points covered in this episode:The first thing you want to do is decide which platform you want to use. The biggest blockchain projects of NFTs are either on Ethereum, Polygon, or the Solana network.
Look at the style of NFT. FACT: The unique ones can be a high-risk investment, depending on the creator. A well-known artist with a following will more likely have their artwork last the test of time, and the value potentially goes up. But an unknown artist is a higher risk. You will more likely be buying this because you appreciate the art and believe the artists will grow a following in time.
Double-check and verify. Visit the actual website, where you can find all the information that can tell you about the project. One example is Panda Paradise; you can find the different styles of NFTs and the story behind it. Scroll down far enough, and you’ll find the roadmap.
Next, you want to look at the team and the individuals who actually did it. Are their names available? Can you find them on social media platforms or in the real world as people who are putting their reputations on the line for this specific project? There’s a higher likelihood of the success of the project when this happens next.
When going through the Discord channel, follow the list of things to look for and spend some time reading through the questions other people have already asked. Chances are others have vetted them as well and may have already done some of the legwork for you. This also lets you see that they’re not just bots sending out automated messages but an engaged community.
Find all their information here, even the DAO Vault. Now this one’s unique because of how they have structured it with its utility that allows you to actually stake your NFT and potentially gain tokens that could be worth a voting right or actual coins one day.
Not many people are talking about the delist. This means shortening supply, which will raise the price of the NFT. This can be good if you’re looking to flip the NFT outright. But the cool thing about this project (particularly with Panda Paradise) is when people are staking their NFT, that means they’re holding onto it, which is the same thing. So not many people are selling it, meaning its value goes up naturally on the website.
When looking to buy the NFT, you can also start at either their Twitter page or their actual website itself. When you go buy on OpenSea, there is a direct link to their actual site. Doing this ensures you are purchasing an original. Sometimes scammers will label it precisely the same, and it can look the same as the original piece.
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