You've seen the hype, done some research, and you're looking to get into NFTs.
The question now is how do you get started?
A few days ago I was a lurker just like you until I pulled the trigger on my first NFT.
Here's what I can share about getting started.
#1. Do your due diligence
While a fancy piece of artwork might catch your eye at first glance, what truly matters most when investing in an NFT is the project.
A few questions to be asking yourself while researching -
Who are the artists & people behind the scenes driving growth?
What kind of following does it have on social media?
What does the project roadmap look like?
Get a sense of what the team is building, and how they plan to grow in 3, 6, 12 months.
#2. Become a part of the community
The mega value in owning an NFT lies within the community.
You'll join a collective of like-minded individuals who understand the vision of the project and have an interest in contributing to that.
Observe their Discord group and Twitter page, learn their language and rituals, and identify for yourself if that is a fit for you.
#3. Set some constraints
Option paralysis is a real thing.
The only way you'll feel confident making a decision on a project is to set some constraints for your purchase.
Here's some constraints that I took into account when buying in -
Figure out your min & max purchase price
Will you mint a new NFT, or purchase from a marketplace
Are you looking to buy & hold, or make a quick flip