Monday, August 15, 2022
Techiexpert.com
No Result
View All Result
  • Login
  • Register
Exclusive Videos
  • Tech news
  • Startup news
  • Artificial Intelligence
  • IOT
  • Big Data
  • Cloud
  • Data Analytics
  • Machine Learning
  • Blockchain
  • Social Media
  • Tech news
  • Startup news
  • Artificial Intelligence
  • IOT
  • Big Data
  • Cloud
  • Data Analytics
  • Machine Learning
  • Blockchain
  • Social Media
No Result
View All Result
TechiExpert
No Result
View All Result

How to flip NFT’s

Srikanth by Srikanth
June 27, 2022
in Blockchain
Reading Time: 4 mins read
How to flip NFTs
15
SHARES
218
VIEWS
Share on FacebookShare on Twitter

In a world that can’t live without NFTs, they’re causing a colossal shift in the digital space. In the second half of this year, average monthly trading volumes increased to more than $750M. Currently, random users trade thousands of dollars in the artwork on Twitter. What now? You can get in on the action too. Let’s get started. 

Flipping: What is it?

The process of buying inexpensively and selling them swiftly for a profit. It is not a new concept. The practice dates back to flipping toys and trading cards for a profit, which is now reflected in the rapid growth of NFTs. 

What’s the reason for flipping NFTs?

In the NFT world, value isn’t hard to come by. That’s why NFTs have attracted investors and enthusiasts alike. It is estimated that over $27 billion was spent on smart contracts (ERC-721 and 1155), indicating numerous opportunities.

For faster flipping, you’ll want to consider investing in high-volume, high-frequency trading projects other than bitcoin and altcoins. Flipping NFTs can be a relatively quick way to add value to your portfolio despite the risks.

What should you look for in a project for NFT flipping?

Founding members

Establish the credibility and trustworthiness of the project team. Research the team’s background before taking on projects from anonymous people. 

Because of the prevalence of NFT scams, your success and investment depend on verifying the legitimacy of creators. For instance, The Supreme Kong collection is the work of Hossein Diba. He’s incredibly trustworthy since he worked on various video game projects for Activision Blizzard, like Tomb Raider.

Usability

Can buyers benefit from the project? Veefriends, for instance, allows its members to attend Veecon and connect with Gary Vaynerchuk. As a result, NFTs are in high demand and generate buzz.

Association

Projects associated with reputed names can give you an edge. A company or celebrity’s association with an NFT project significantly increases its success rate. The fact that Bored Ape Yacht Club gained popularity with buyers like Jimmy Fallon, Stephen Curry, and Logan Paul.

Community

Has the project generated a lot of social media buzz? Does a large number of people support the project? You can gauge its popularity by following your project of interest on Clubhouse, Twitter, Telegram, Reddit, and Discord. You can also look at how engaged the community is and not just how many followers they have. 

The demand and supply.

Demand increases in times of scarcity. It’s much more likely to profit from an NFT project with a limited number of artwork available.

Art

Interestingly, brand-ability is more important than the art quality in making a project successful. Is the artwork standing out, and could it become distinctive from the pool of other similar projects?

CryptoPunks, a relatively simple piece of artwork, paved the way for subsequent projects such as Weird Whales, thanks to its memeability and unique pixelated style. Uniqueness adds value to a project in the long run. 

Volume

Profit-making depends on liquidity in all markets. Look for platforms that provide high trading volumes for your investments. Most likely, you will receive offers from collectors quickly.

Floor Price 

In this context, floor price refers to the lowest price an item can be purchased. This means that you should seek out products with a low floor price and a small supply.

Tips aside,  how do you proceed further? 

Don’t worry! Here’s how to get started.

NFTs can be flipped by following a simple process. 

  •  The key to being a successful flipper is understanding what and when you should sell. 
  • It is necessary to have a Web3 wallet like Trust Wallet or Meta mask. With the in-app browser, you can access different NFT platforms. 
  • With the community’s continued growth, you can buy NFTs with low gas fees and make money. 
  • However, it requires some research about which Blockchain platforms make it possible with other viable alternatives. 
  • A project should also be monitored to see how much recognition and volume it receives. 
  • That said, keep an eye on other great projects. 

So, that’s about flipping NFTs. NFTs aren’t as liquid, unlike their fungible counterparts, so you can only profit if buyers are willing to purchase them. Hence, it is imperative to invest only what you can afford to lose.

Tags: NFT
Share6Tweet4Share1Pin1

Most Read

  • What is windows modules installer ? How to Enable/Disable

    What is windows modules installer ? How to Enable/Disable

    1405 shares
    Share 562 Tweet 351
  • Are You Disturbed with a Mouse pointer? 5 Tips to hide mouse pointer in chrome

    197 shares
    Share 78 Tweet 49
  • How to Track Activities an Instagram account?

    162 shares
    Share 65 Tweet 41
  • Google Play stores new policies to block full-screen ads

    17 shares
    Share 7 Tweet 4
  • How to draw/create a radius on google maps?

    136 shares
    Share 54 Tweet 34
  • How to make a chatbot using HTML

    258 shares
    Share 102 Tweet 64

Recent Stories

How to use Technology to solve business problems – Practus

How to use Technology to solve business problems – Practus
Share5Tweet3Share1Pin1

5 Ways E-Bikes Will Save Both Your Money and Time

Releasing prototypes create waves in the electric bike industry
Share5Tweet3Share1Pin1

How to use influencer marketing to boost your sales

How to use influencer marketing to boost your sales
Share5Tweet3Share1Pin2

4 Step Guide to Redesign Your Website

4 Step Guide to Redesign Your Website 1
Share4Tweet3Share1Pin2
  • Terms of use
  • Privacy Policy
  • About Us
  • Contact us
  • Write For Us
  • Cookie Policy

© 2022 All Rights Reserved

No Result
View All Result
  • Tech news
  • Startup news
  • Artificial Intelligence
  • IOT
  • Big Data
  • Cloud
  • Data Analytics
  • Machine Learning
  • Blockchain
  • Social Media

© 2022 All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Cookie Law Notice
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
SAVE & ACCEPT