Four essential tools for NFT prospecting, a must-have for observing market trends! Analysis of recent hot topics in the NFT sector

This article is authorized and reproduced from Josh Lu Zijian. Original link here

With the explosive growth of the NFT market, following the popularity of Phanta Bear supported by Jay Chou in mid-January 2022, there are numerous projects showing a tenfold increase. The new wave of NFT trends is diverse, and keeping up with the NFT trend has become a hot topic and a necessary task for investors! In addition to explaining the analysis of recent NFT hotspots, Josh also introduces four essential auxiliary tools in this NFT gold rush, which can help you seize opportunities better than others!

NFT Market New Hotspots: Stitched Monsters, Renaissance Wave, Feminism

The current NFT market is very diverse, with different hotspots exploding in different ways. How to enter the market at the right time is crucial, and for those who missed the initial opportunity, they can try the secondary market, such as Opensea. The secondary market can make good use of NFT tools to observe various data to make informed decisions on whether to enter, rather than being influenced by the FOMO atmosphere of the community. First, let's introduce the three recent popular NFT sectors!

Hotspot One: Stitched Monsters - NFT Variations that Combine Various Popular Elements

Refers to "tribute works" created by directly assembling the top NFT projects together.

Currently, the "top-tier" NFT projects include CryptoPunks, Bored Apes, Doodles, Coolcats, Coolmans, etc. The concept of stitched monsters is quite straightforward - combining elements of these projects together, resulting in creations like Doodle shiba, Doodle cat, Coodles, Rainbow Ape, and more. It is worth noting that most of these tribute works are "one-wave high-risk NFT projects." Recently, even Phanta doodle has appeared, and Jay Chou's supported bear has also been stitched with Doodle! The success of top-tier works seems to have become an alternative symbol of popularity based on whether they are stitched together.

Hotspot Two: Renaissance Wave - Ancient Projects Suddenly Gaining Popularity

In the recent booming market, a phenomenon of Renaissance has emerged, where ancient projects are starting to gain attention, with prices rising steadily. This sudden interest in older projects is referred to as the Renaissance. The market is now focusing on purchasing NFT projects from 2017 or even earlier. The most notable case is that CryptoSkulls surged 20 times in a week, which is truly crazy! Due to the abundance of recent market projects, people are beginning to ponder on what constitutes valuable NFTs and are starting to pay attention to these old projects.

Hotspot Three: Feminism - Instant Popularity with Support from Twitter Celebrity Garyvee

NFTs emphasizing female elements have started to gain attention, and this trend has emerged suddenly. While Josh used to think of Gary Vaynerchuk as a marketing guru and motivational speaker, since January 12, when he made a call on Twitter, his style suddenly changed drastically, giving birth to a master of NFT shoutouts. By retweeting NFT works with female themes, suddenly NFTs with female themes in the market took off. Whether Gary's shoutout skills can continue to be effective remains to be seen.

Essential Tool One: Mintysocre - Quickly Discover New Popular Projects

Speed is key! It is essential to discover popular NFTs early and be the first to layout in Discord, as you may even get whitelisted. Mintysocre can help you organize upcoming NFT projects and display their popular rating mechanisms, making it easier for collectors to judge whether it is worth participating in the NFT project.

Mintysocre: https://mintyscore.com/

Essential Tool Two: NFT Go - Observing What Whales Are Buying

Following the whales is also a good strategy; you can see what NFT giants are buying. If these whales are also interested in the same projects as you, would you have more confidence? NFT Go provides whale wallet tagging services, serving as a good indicator. It distinguishes between big whales and dolphins based on the overall NFT assets in the wallet.

NFT Go: https://nftgo.io/

Essential Tool Three: NFTNerds - Real-Time Listing and Trading Data Observation

Using NFTNerds, you can see from the price distribution chart where a project has intense trading, forming a support level nearby. Additionally, other important indicators such as the number of listings and transaction information are crucial. The more of these indicators, the better, indicating a fast turnover and high liquidity. Combined with a rising floor price, this is a positive signal, and NFTNerds provides these related functions.

NFTNerds: https://nftnerds.ai/

Essential Tool Four: Icy.tools - Tracking Large Buy and Sell Orders

icy.tools provides more statistical data, and with trend lines, you can see the average price continuously decreasing. You can also see where the most buys are occurring within this range, as shown by the Top Buyers example where the price starts to rise after purchases, offering more indicators to observe. This feature is paid.

icy.tools: https://icy.tools/

Experience in Using Essential NFT Tools for Prospecting

Josh finds it challenging to keep up with every project among the multitude, making it difficult to make purchases on official websites at the first opportunity, especially as hot projects are constantly changing. Therefore, the four tools mentioned above are very useful, and investors can choose tools that suit them for research. Some features may overlap, but each has its unique characteristics. For example, Josh personally likes Mintysocre because it quickly informs him of upcoming popular projects, saving a lot of search time. However, it is essential to note that like cryptocurrencies, NFTs are mostly high-risk investment targets, so thorough research is crucial before investing!