Imagine if you had been one of the lucky people to get your hands on an NFT from Bored Ape Yacht Club while they were still new and minting. For us avid NFT hunters, it is something we all dream about.
Sadly, most of us only hear about the exciting and interesting projects when it is too late and the price has shot up in the air, leaving us behind. We’re in luck, though, as there are tools available to us that help us keep the pace. One such tool is Compass.art, a smart and intuitive NFT analytics tool. Let’s see how it can help us find trending NFT projects early.
Using Compass.art To Get an Edge
To hit it big with NFT’s you have to get in while it’s cheap and with some sort of expectation that they’re gonna be worth more in the future. That is why you need to find trending NFT projects early for the largest potential profit margin.
If you use Compass.art’s tools, this becomes easier than ever. Try and navigate to this link: https://compass.art/collections/trending. This is Compass.art’s analytics section for trending NFT’s.
By measuring and monitoring factors such as volume, sales, average price, floor, and highest sale it can show you projects that are getting attention right now. You can even adjust the scope of time of the analyses all the way from single minutes to 30 days. It depends on what suits you best.
At the top of this list you will find the most trending project within your selected time frame. It will tell you how much the mentioned factors above have moved in either direction, and this helps you understand the level of hype surrounding it.
As Compass.art updates its info every minute you can easily monitor a project that has caught your eye. This can help you find the right time to get in and invest, if you should wish to do so.
Time To Do Some Research
Now you’ve most likely found a project that has caught your interest. Its price and traded volume has kept going up for hours now, and this might just be what you’ve waited for all along. But can you really be 100% sure? The short answer: no.
The important next step you need to take is to try to figure out why this project in particular is booming right now, and whether you want to take the risk and get involved. What should you look out for?
Here are the three top criteria to investigate before considering investing in a trending NFT project: Strength of the community, level of utility, and the team behind the project.
The community is a pillar of any NFT project. The more people talk about it, the more they invest in it and keep it alive. Keep close watch on the project’s popularity through social media like Twitter and Discord.
Utility is also important. If an NFT project can be used for something real and/or beneficial, then that gives people a reason to own it and care about it more deeply.
Finally: the team. The team are the ones deciding the future of the NFT and where it is going. Make sure they have a clear plan of where it’s going to go, that they communicate with the community, and that their backgrounds are clean. You don’t want to support someone with a history of scamming.
Invest With Your Brain, Not Your Heart
Once you’ve done your research, take a step back from it all. You might be gripped by excitement, and purely from that wish to invest. Chances are, you don’t see clearly.
Investing with your heart instead of your brain is a road that mostly leads to loss. That is why we recommend that you take some time to think everything over so you make the most rational decision in the end.
If a trending project looks promising, add it to the watchlist on Compass.art and connect it to send alerts to either your Telegram or Discord account. That way you can step away from it, and if something big suddenly happens you’ll be alerted immediately and can take action accordingly with a moment’s notice.
Keep Your Eyes Peeled
With Compass.art and its smart analytics tools by your side, you will always be able to know which NFT projects are trending. Not only that, but you’ll know it early and that gives you the opportunity to act fast.
Keep track of news
Stay active on Twitter and Discord channels to tap into the latest trends in the space.
Read on relevant news sites like https://buynft.com/.
As always, remember to do your own research before investing. Keep a rational and leveled mind and you might just find the next big thing soon enough.
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