Several of us have been exchange and flipping since babyhood without a subtle awareness. including comic books, stickers, and trading cards. Many of us have carried this wealth-building habit into adulthood and are constantly looking for new opportunities to flip.
NFTs (non-fungible tokens) are proliferating. It’s not surprising that NFTs are becoming more popular as our lives become increasingly digital. Getting in on this market early could help you grow your wealth.
This article will explain what NFT trading opportunities exist, where they are, and how to spot them.
Why flip NFTs
There is plenty of potential for growth in the emerging NFT market. This is a new market with little competition and huge profits. It’s essential to pay attention to what is happening and be alert.
Many people are making huge profits selling art and crypto-collectibles to growing digital collectors. CryptoPunks, a pixel-art collection, is a great example. CryptoPunk #8348 sold for $456 in October 2017. The same NFT is currently worth more than $26,000, which is quite an increase.
It is an excellent way to increase your net worth and strengthen your portfolio. Many people can flip NFTs in days, making a quick 10-50% profit and more immense opportunities.
Are People Buying NFTs?
NFTs are very popular. Although digital ownership may seem new and confusing to some, it taking advantage of the opportunity. There are many benefits to digital ownership, with Ethereum allowing tokenization of music, art, music gifs, and videos.
These digital items, however, are not fungible tokens such as cryptocurrency. A copy and paste of an NFT do not mean that it is the same as the original. We can prove the provenance of a piece with NFTs. It is possible to identify who owns it and when. Celebrities may have high-profile ownership, dramatically increasing an NFT’s value.
How to spot NFT Flipping Opportunities
NFTs are not guaranteed to make you rich, but plenty of people have made good profits. Flipping with NFTs is an easy and quick way to make money.
NFTs that are either one or both of these are what you are looking for.
- NFTs that at the moment, are undervalued
- NFTs expected to see an increase in value
How do you find the opportunities is the next concern many beginners have. First, you should look for the upcoming NFT projects and then individually consider the top ranking ones. You should look for the communities on Discord, Reddit and Twitter, look up more information regarding the project and evaluate its future prospects.
Find Your NFT Niche
Although it may seem appealing to cast your net far, NFTs require you to narrow down your market and get to know the interested people. The best advice is “…to do your research on what you truly believe will work.”
You will make better investment decisions if you know more about the NFT scene.
The next step is to pick one or two niches in NFT and then get involved in that community. Talk to other members of that group of buyers and sellers by joining the forums and subreddits.
It takes time, but it is the only way to make solid investments.
Consider Decentraland, an NFT game with a fascinating real-estate marketplace. Matty, a well-known trader, made more than $83,000 in one year by simply flipping parcels on the game’s land. He had a good understanding of the market.
Where to Find NFT Flipping Opportunities
There are many options in the NFT market space, depending on what kind of token and your budget. We’ll be looking at the most popular marketplaces as well as their market.
- OpenSea and Rarible: The “Garage Sales” Sites
- Collectibles: Atomic Assets and NBA TopShot, Decentraland and Crypto Kitties
- Art: Nifty Gateway, Known Origin
- Exclusives: SuperRare, Christie’s
How to Make Money with NFTs
Bulk buys are a great way to profit from NFT trades and leave meat on the bones. This is more common in the trading cards and collectible scene. Many large-scale sellers will sell NFTs in bulk for less profit to make trading easier. You can sell the individual NFTs individually to increase your profit.
Polite haggling often works too. Many flippers make extraordinary profits by reaching out to sellers within your niche community.
Profitable opportunities will be created by networking, maintaining a market overview, following leads, and keeping track of the NFT scene.
Some people in the crypto world are content to buy Bitcoins or Eth, but NFTs offer opportunities to make money.
Diverse portfolios will allow for quick- can be a great way of getting in on the ground floor.