27 Oct 2022
8 Powerful Strategies Top NFT Traders Use to Make Profits!
A list of 8 great NFT tools for investing in NFTs that most people don't know of.
This article is part of Flagship’s ongoing series of crypto-industry news and updates from across the Cryptoverse. Join our Discord and never fall behind on what’s happening in crypto!
Introduction
The excitement surrounding NFTs has faded. The NFT market is down. To put it into context, more than 220,000 NFT transactions occurred on Ethereum every day in May 2022. The amount has decreased to 62,900. That represents a reduction of -71% in just a few months. Ouch!
But there is hope at the end of the road. You must remain competitive and employ methods to stay in the lead if you are considering investing in and trading NFTs. We have seen a lot of everyday active NFT traders making six-figure returns even during the bear market thanks to wallet trackers. How is that even humanly achievable in those market circumstances?
The truth is that most experienced NFT traders use a handful of strategies and NFT tools to stay ahead of the rest.
Remember, *do your own research before investing.
8 Powerful Strategies & Tools:
- Use an advanced NFT trading tool to spot NFTs trading below the floor and detect live market action. Traitsniper is a free tool that uses bots to view rare traits on recently created collections, is a fantastic tool daily traders use, instead of waiting for the official to release it. This could make a difference and help you find rare items earlier!
2. One of blockchain's power is in its ability to track and monitor traders who have a track record of successful traders. A functionality that enables tracking of "Smart Money" on Solana NFT collections was implemented by HelloMoon. A great alternative for Ethereum NFTs is nansen.ai which has a smart money function.
3. Use the free Web3 Social Intelligence application NFTinspect to monitor important social media indicators. Or, to put it another way, it helps in measuring how engaged a community is regarding a particular project. In the crypto-twitter community, word of mouth from influencers has lots of market power, and it spreads quickly! This may be a really useful tool for spotting the next big project. A list of the most influential community members' Twitter accounts is also included as an extra feature.
4. Skilled traders utilize tools to trade NFTs in bulk quantities. This allows traders to list, buy and bid in bulk. FamousFoxFederation is a great tool for Solana NFTs. Tokun.app is an alternative for Ethereum.
5. To keep track of all potential, use a mint calendar. Mercury, created by Blocksmith Labs, is a fantastic complimentary tool for Solana. nftcalendar.io. is the Ethereum alternative.
6. Set the ideal gas fee to ensure valuable NFT releases. Efficiency and quick setup of the necessary gas costs will make a difference, especially for the more popular Ethereum NFT releases. TinyAstro is a gadget that, by setting the appropriate gas prices, will enable you to skip the line and secure an NFT. This tool lets you choose aggressive gas fees, which is how whales make massive profits, as they are faster, more efficient, and early (however it comes with a premium cost paid for higher gas).
7. The next step is to keep up with the market once you have mastered these tools and can spot attractive investments. Being active in the community and getting your news from several trustworthy sources is crucial for that. The following is a succinct list of reliable sources:
- Twitter Spaces: To follow the top Twitter accounts in NFTs, use NFTinspect. Join Twitter spaces regularly. Use Caravan, a tool that facilitates Twitter growth, if you are a creator.
- News outlets like watcher.guru, nftnow.com, or nftnewstoday.com, subscribe to an NFT source of news.
- YouTubers: Stay up to date with video creators like NettyArt, BlockChain Gavin, and The Parallax.
- Become a part of a trading community. TraitSniper has an active community of daily NFT traders in their discord server that follows a specific mint calendar. Here at Flagship we would be delighted to have you as a member of our NFT community on our Discord server!
8. Lastly, you'll also need a system for tracking your investments. There are a few great tools to track the value of your portfolio like delta.app & icytools, which also support NFTs.
We hope that these tools will assist you in making informed decisions when buying your next NFT!
About Flagship
Flagship is an easy-to-use DeFi platform. We provide you access to early investment opportunities across emerging crypto sectors through our cross-chain ecosystem of decentralized funds and a network of experts.
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Disclaimer: Nothing on this site should be construed as a financial investment recommendation. It’s important to understand that investing is a high-risk activity. Investments expose money to potential loss.
