One of the biggest scammers in the NFT space, OxBender, dropped a tweet that I retweeted. Why would I retweet a tweet from a known scammer? Because the advice in the tweet was good. Really good, actually. Broke down exactly how to get money in NFTs in 120 characters or less.
Now that you've read it, you know the basics of how to think about NFT projects. There is no such thing as a "long term project" right now. If I could tell you about all the crap I've heard from NFT insiders (and I actually have in some of my other articles), you'd know 100% for sure this "industry" is filled with 85% bots and scammers and the 15% that's left you'll never fuckin find.
With that said, you can still make money. So here is a list of tips to help you identify projects that have a good chance of selling out the mint so you can flip on secondary.
1. They have high Twitter engagement. Here's the kicker: It doesn't matter if this engagement is 75% botted. I kid you not, the projects that bring buyers into other projects to buy (NFT morons are just selling to themselves over and over again) only care about the number of Twitter likes and retweets, not the quality. Why? Because that botted engagement still entices other projects to buy into the mint. I know it sounds stupid and like it doesn't make sense. These NFT people are idiots.
2. They have Discord engagement from "blue chip" NFT communities. [Blue chip NFT = NFT project that has so much money from VCs they couldn't rug without making international news, so they throw 10% of their budget to "utility] The BAYCs, the Moonbirds/Proof Collective, the Cyberkongz, Azuki, Doodles, etc... if a new project has accounts with a lot of these PFPs in the Discord, the project has a better chance of minting out. Enough blue chips can make a project a self-fulfilling prophecy. Watch their movement. If you invest in a Coniun pass (don't buy this shit above 0.25 ETH), you can access a list that tells you the projects that blue chip holders are engaging with most. Go in those Discords if you can't access the private rooms of the blue chips themselves. Watch the projects the blue chip PFPs talk about. There are your leads.
3. They have a hype budget that seems to accelerate engagement as mint day approaches. Look for NFT projects that do daily giveaways as mint day approaches. These are teams with money to burn, which means they had the bread to hire the right marketers to spread the word. [Marketing = people who know blue chip project founders personally and will tell them to engage other projects, for a fee, of course]
That's really it. There's not much to this. You're dealing with total degenerates in this space right now. Good luck.
More tips ---> https://twitter.com/alucard0x
