Investing in NFTs: is it the right time to invest in NFTs?

We have seen that the market value of NFTs fell considerably in the main OpenSea Platformalso see collections disappear or have took big falls of its value before its popularity fell.

Let us now see together if we are at a favorable time for investment or, on the contrary, is it better to deviate from it as much as possible?

Investing in NFTs: good or bad idea?

As explained above, the market value of NFTs has dropped dramatically. For example, collections that had a minimum price of 1 ETH now end up with a entry price of 0.15 ETH. To this we must also add the value of Ethereum, which has also fallen.

Suffice it to say that many investors lost a lot of money during this decline. Now that prices are at their lowest point, of course it is interesting to invest in NFT but not in any collection. In fact, many collections will never appear again. This is why it is important to know the different essential criteria for spot a collection to invest in.

The essential criteria to detect a collection in which to invest

Here are some essential criteria to spot a collection to invest in:

  • A transparent team who meets their deadlines
  • A active discord server and an engaged community
  • NFTs with a true utility (NFT style is not everything)
  • Active social networks, particularly twitter account
  • have the proprietary rights related to NFT from the collection
  • Look the artist’s story from the collection
  • Look team history from the collection
  • The digital identity of the project. Is it neat and professional? (website, social networks, animation, 3D rendering, etc.)

read also Ethereum Merge: Watch out for the resurgence of crypto scams

Of course, other criteria are important to detect a good project. It should also be noted that even if all criteria are correctly validated, the project may not go as planned.

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