a common question that I have been getting recently is: ‘What NFT should I buy?’
It’s awesome to see that more and more people are interested in purchasing their first NFT, but the answer to this question is not very straight forward.
NFTs are collectibles, but also investment vehicles. That’s why it’s not only a matter of shopping around and buying what appeals to you - unless you are literally buying it for the art and would be happy if its value were to go to zero. If this is the case, feel free to go wild on OpenSea! 😊
If you are trying to get to know NFTs as investments, however, I would suggest to follow a few collections that are already a bit more established and try to understand what made them successful.
Also keep in mind that with anything new, there are first mover advantages that can create moats.
will forever be the first 10K pfp collection and will hold value because of that.
These mutants are not particularly visually pleasing, but they widened the community by another 11,000 holders, added value to the original BAYC holders and helped to strengthen the overall brand.
BAYC were also the first ones who started building the brand professionally, partnering with Adidas and getting celebrities like Eminem, Stephen Curry and Gwyneth Paltrow to rock their NFT as profile pictures on Twitter (at least temporarily).
One can definitely study the things that make a collection successful and these indicators will be good signs to see in other projects.
However, if you see something that’s a bit too similar, then that is usually a warning sign. The new collection would have to innovate on some other level or target a different audience to turn into a success story (with success story I mean something that can sustain and grow its value over time, just like successful startups).
In today’s ‘Learning in Web3’ section, I have listed a few NFT collections for you to check out, also featuring a few women-led ones.
None of the collections listed are investment advice - they are merely examples of projects that have done well or have built a good reputation for themselves in the NFT space (which in itself is a success given the amount of awful projects out there).