Deep Dive: NFT Strategy Brainstorming & Testing Overview

An overview of my thought process when developing my NFT buying approach as well as some testing I am doing to validate or disprove my thoughts

Within this article I will be going over my thought process when I was deciding to invest in NFT’s as well as the projects I chose to invest in. The thought process and project titles will be open to everyone but the individual explanations will be paid user-specific. This article will be the first in a series of articles with the next covering how to actually buy all of them, & the ones after that going into detail on each project I have invested/plan to invest in.

I wanted to note NFT’s are extremely speculative and they sometimes end up being rug pulls (where the project is deleted out from under you leaving you with nothing but empty promises and an image in your crypto wallet) which could be possible for any of the projects I have bought. I have done my best to avoid this but should you choose to invest in any of them I would highly recommend doing your own research first and only using my articles as a strong foundation to start from,

Also, as always, this is not financial advice (Full Disclaimer at the bottom, I include this everywhere : ) )

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Table of Contents

1. Thought process

2. Projects I chose for each category

3. More detailed summaries of each project and links to resources

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Thought process

Initially I looked at the Ethereum space as an area to invest in but the buy-in cost for decent projects is extremely high so I decided to look out for a project with potential that I would be willing to take a high risk on. I then looked to see if there were any potential growth areas within the NFT space which led to me researching Cardano & Solana NFT’s. As I already had funds in a Cardano wallet due to a previous exploration into Staking them in order to earn Sundaeswap tokens I decided to focus more on Cardano. I also made this decision as I am more of a fan of Cardano’s development approaches at this moment.

Ethereum is already an established place for NFT’s which means that it’s a highly competitive market and everyone’s main focus. By investing in the Cardano space I hope to be able to get in on exciting projects that are being overlooked at the moment purely due to the fact that they aren’t on the Ethereum network. I also hope to catch growth from the project as well as growth from the Cardano space becoming more popular & accessible.

From there, I looked for projects in both spaces that I liked their projects goals, teams, art, growth rate, community, the utility provided by holding their NFT, & price.

Once I found projects that met some or all of these requirements I looked for an opportunity to buy in with a focus on lower price relative to the NFT’s rarity within the collection. There are non-collection NFT’s but those are much harder to assess and to buy/sell so I have focused on collection-based NFT’s.

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Projects I chose for each category

Ethereum

• Fancy Bears (I also considered Crypto Chicks & Azuki but they were out of my budget)

• TreasureDAO Bridgeworld

Cardano

• DiscoSolaris

• Fudbuddies (not yet released so not yet purchased)

• Rats DAO

• Project 2090 Cyborg XX

• Metaplane

• CARdano4SPEED

I would like to note that Metaplane I bought for fun (I minted one for fun and the one I got looked cool so I am currently holding it. I may sell it at some point as I minted it for about $50 & similar rarity NFT’s in the collection have sold for $250+). I am also including CARdano4SPEED although I largely jumped into that project due to someone else’s explanation. Based on further analysis I have decided I rushed in & so I am planning to sell it. Lastly, I bought Project 2090 Cyborg XX because I like its art. I may do an article explaining them but I will first do more research to decide whether it fits the overall strategy I have set as the theme of this article set. Due to these reasons, I do not plan to do explanations on these projects as I joined them more for fun/random reasons and not due to grounded research.

They could end up making me money but either way, they are not in line with my strategy. I am including them as I feel they are good examples that show it’s ok to make mistakes or to just jump into things with a small amount for fun. I also don’t want you all to think I haven’t made any mistakes/ wo’’t make any as I learn more about this space or any other (I made many when I first started in crypto). Making mistakes is a normal part of learning and it is how we all improve 👍