One of the most common questions people ask themselves is, “How do I pick NFT projects?”
There are so many NFT projects out there, and it’s hard to parse through all of them and pick the winners. To make it as easy as possible, I wanted to share my simple strategy, then show how I put it into practice. It’s simple…I look for FUD. What? Yes, F.U.D.
Here’s what I look at…three things…in this order:
- Founder – who is the founder? What do I know about them? Do they have a proven track record? Are they a public figure? Are they engaged in the community?
- Utility – what will I get from holding this token, and do I want it? And keep in mind, what I see as great utility might not be the same for you.
- Design – Do I like the art? I have this third, because while I want to love the art, I’m admittedly an uncultured swine, I don’t even know what good art is. I know what I like, but I personally do not buy something for art alone.
Examples – Royal Society of Players (RSOP) and Goatz
- RSOP – I know who Zeev is, I know his track record with Landmark Ventures, and I’ve seen his face. I know his commitment to the NFT community in addition to his personal success.
- Goatz – Dez is a public figure in the NFT community who goes on the Mint Condition podcast weekly. Besides being wildly smart, available, transparent, and communicative during the whole Goatz project, he’s putting himself out there. He’s also taken his time with the project instead of rushing it, showing a commitment to getting things right the first time. Bottom line, I know I’m not going to get rug pulled.
- RSOP – How long do we have? RSOP cards give access to both in-person and metaverse events/benefits. I won’t go over the list, but if you hop in the Discord, you’ll see an unreal list of opportunities in this project. I mean, the day after the drop they gave away 11 ETH via raffle. That’s like $25K in one swoop.
- Goatz – When you use the forge (putting two Goatz traits together), you get a house in the Sandbox in Goatzville. I have zero Sandbox land, so this is an awesome proposition. This doesn’t even get into other member benefits like giveaways, or the fact that this is the first project to use this forge technology.
- The RSOP cards are designed by Oban Jones, arguably the world’s most renowned playing card designer. Did you know there were world renowned playing card designers? I sure didn’t, but this art is WILDLY dope.
- Goatz are just fun. I like the art, and if I don’t love any one Goat, I get to forge it with another to make the perfect Goat. In the seven Goatz I minted, two have firefighter gear. I’m able to make a firefighter Goat in honor of my late grandfather who was an NYC Firefighter.
So bottom line – if you’re looking for a good project, just look for FUD, right? Honestly though, in my mind, if you start with a great foundation (a solid founder and utility) then look at the art, you’re going to be happier long term with your purchases versus FOMOing in.
Disclaimer: This article is not financial advice. The NFT and Cryptocurrency markets are very volatile. Please don’t invest what you can’t afford to lose. Always do your own research before investing.