The NFT business is booming, and it is very easy to buy an NFT, but the price might be outrageous if you are just some random individual trying to invest in the growing market with the little money in your possession. The best option will be to find cheap NFTs before they blow up and then secure them for yourself.
The problem you will face is where to find those cheap NFTs and buy them. Well, that’s why you are reading this article, to get the chance of turning cheap ones into a profit.
Why, now more than ever, should I own an NFT?
The world is definitely embracing the possibilities the NFT market could bring to the world in the future. Although the NFT market is still growing, we have seen a lot of money flow into acquiring these assets over the past few years.
In 2020, the NFT market volume was around $46 million, but by the end of 2021, there was a massive boom in the market that saw an astonishing volume of $41 billion for all global trading. This only means that as time passes, more individuals and companies will benefit even more in the coming years.
It’s never too late to join the club, but you must have considered the huge amount of money you will need to spend to acquire one for yourself. Well, you don’t need thousands of dollars because some NFTs can be purchased for pennies.
Finding NFTs that have the potential to blow up is where the real money is. This is why you should begin your research right away in order to gather information and become knowledgeable about not only where to find affordable NFTs but also how to connect with potential assets.
NFTs that are very expensive
Before you can start looking for cheap NFTs, you first need to familiarize yourself with the blue-chip NFTs. These are the top dogs in the NFT space, and some examples of blue-chip NFT collections on the Ethereum blockchain include: CryptoPunks, Bored Ape Yacht Club (BAYC), Art Blocks, and others.
Where to find NFTs before they blow up
There is nothing like the cheapest NFT marketplace where you will be able to get potential NFTs at a cheaper price to sell for millions. You are basically acquiring an NFT for that reason, to make a profit.
Before you start spending money on NFT collectibles, it is important to understand the key aspects to look at, to increase your chances of investing in an NFT collection that might be profitable.
The most effective way to find and buy cheap NFTs is to track new projects before they are released. This is the best way to make a profit in this market. This method was applicable to top NFTs before now, and those who got in early are now taking profit.
Finding cheap NFTs will take some time, and there are some recommended tools that most successful NFT investors use. This includes rarity.tools and UpcomingNFT.
Rarity.tools: This website compares real-time data from all NFT arts and collectibles. The tool makes it possible for collectors to understand the ranking of the rarity of the NFTs and compare the values of NFTs with each other.
UpcomingNFT: This is a website that provides information about upcoming NFT projects, drops, events, auctions, giveaways, etc.
Some platforms will also recommend social media for new NFTs, but that is actually risky. You should always keep in mind that your goal is to buy low and sell high.
What to watch out for when looking for new NFT projects?
When you find a project, you should try to answer these questions.
- Is the project unique?
- Does the project have active social media links?
- Do they have a legitimate website?
- Do they have an NFT collection?
- What is the floor price of one item from the NFT collection?
- How many items are in the collection?
Who can buy my NFTs?
So let’s say you finally acquired a cheap NFT with future potential. Who will be able to buy them when they cost more in the future? I know many beginners ask this question, but it shouldn’t be. There are a lot of companies, private investors, and celebrities who are investing in the NFT market. These celebrities include Eminem, Jimmy Fallon, Jay-Z, and others.
Check out this article on 10 Popular Celebrities That Own Bored Ape Yacht Club NFTs.
Conclusion
The future has a lot in store for the entire crypto market, but you should always be able to differentiate single scam projects from genuine ones. Considering the recent most successful NFTs, entire collections tend to be more successful than single releases.
