6 Keys to Uncovering Hidden NFT Gems
|By Jurica Dujmovic|
Next week, I’ll be embarking on a journey from the ancient coastal town of Split, Croatia, straight into the sun-soaked city of Boca Raton, Florida.
My mission? A 15-hour transatlantic odyssey that culminates in a meeting of great financial minds, where I will have the honor and opportunity to delve deep into investing avenues like stocks, cryptocurrencies and, most compellingly, non-fungible tokens.
Joining me there will be many familiar faces, including my colleagues Juan Villaverde, Alex Benfield and Chris Coney, in addition to experts across financial fields from resources to startups and more.
You see, I’ll be stepping into Florida with the added excitement of this being my maiden voyage to the region, along with the anticipation of connecting with our dedicated community — each of you, our esteemed readers.
For those of you who are attending, I eagerly await the chance to shake hands, share insights and demystify the world of digital assets.
For others who are still on the fence, I highly recommend taking the leap. You can expect an invigorating session filled with the electric charge of future financial paradigms.
For more information on how to get your ticket, please call 855-278-9191 (or +1 561-409-8591 for international) to speak with a member of our VIP Executive Accounts Team anytime between 8:30 a.m. and 5:30 p.m. Eastern Monday-Friday.
Now, one topic I’m especially excited to discuss is NFTs. And it’s no wonder — the burgeoning NFT space is brimming with amazing projects, and my new tenure at the NFT Wealth Builder service has been nothing short of enlightening.
During the past 10 weeks that I’ve been managing this newsletter, I’ve spotlighted 10 riveting projects that are jam-packed with aesthetic beauty as well as tangible utility.
Although I can’t share the exact details, this is the main takeaway: Gone are the days where NFTs were mere pixelated novelties.
Today, NFTs stand as dynamic utilities backed by fervent communities, well-laid plans and tech-driven pioneers. They are emblems of promise, change and opportunity.
Of course, the journey toward success in the NFT world isn't without turbulence. Some ventures on my recommendation list have weathered storms, facing existential threats and braving crises of faith.
But in the ever-evolving sphere of cryptocurrency, isn't turbulence the norm?
Success stories aren’t sculpted by an easy journey, but by resilience in the face of challenges. Sometimes huge reworks are required, such as tweaking smart contracts, overhauling tokenomics or even passing the baton to a team better equipped to navigate.
But it’s this reinvention and dedication that allows these standout projects to thrive and survive.
So, next time you go hunting for NFTs to add to your portfolio, don’t forget the underdogs. Even if a project is currently going through a rough patch, that doesn’t mean you shouldn’t at least give it a chance.
Indeed, one important lesson I've continually embraced throughout my NFT journey is that every stumble can be a stepping stone. It's not always about the projects that shine the brightest today, but rather those that have the potential to blaze a trail tomorrow.
Investing in these types of projects, if done right, can yield substantial rewards. However, identifying such a project requires a mix of sharp intuition, diligent research and an appetite for risk.
For those of you keen on embarking on this journey on your own, here’s a handy cheat sheet you can use to help identify these diamonds in the rough:
1. Research the NFT’s Story and Vision
At the core of every great NFT project is a compelling narrative and vision. While big names can garner attention simply through reputation, underdog projects need a captivating story that resonates. So, be prepared to dive deep into the project’s whitepapers, mission statements and future plans. It’s a promising sign if its narrative strikes a chord and you can envision its roadmap unfolding into something monumental in the future.
2. Analyze the Founding Team and Advisors
Underdogs often have teams that, while not yet recognized in the limelight, possess a mix of passion, expertise and prior success. Look for members with a track record in other industries or early stage startups. Also, having seasoned advisors onboard is usually a bonus. In fact, it often means the project has sound guidance and mentorship.
3. Scrutinize Its Tech
NFTs are rooted in technology. So, it's crucial to understand the underlying tech, the uniqueness of its smart contracts and how scalable and secure its solutions are. An underdog project that pushes the envelope tech-wise can be a game changer.
4. Engage with Its Community
Before making any decisions, it's always wise to dip your toes into the community. You can do this by joining a project’s official Discord server or its Telegram groups to ask questions and gauge the level of enthusiasm and support surrounding the project. An active, tight-knit community can be a strong indicator of the project's potential.
5. Monitor Its Partnerships and Collaborations
Underdogs often punch above their weight when it comes to collaborations. If a project is working with any known brands or influencers or securing meaningful partnerships within and outside the NFT space, these alliances can shine a spotlight on it and help it gain more recognition.
6. Patience Is Key
Remember, Rome wasn’t built in a day. True underdog stories take time to unfold. While there’s a thrill in finding a project right before it takes off, there's also merit in supporting and believing in a project during its foundational phases.
As the 2023 Weiss Investment Summit in Boca Raton draws closer, I invite you all to be a part of this thrilling expedition into the world of NFTs.
Although there won’t be a dedicated NFT session, I'm still excited to meet you in person and share more about these hidden gems, discuss strategies for uncovering them and hear about the ones you've discovered on your own.
The NFT realm is vast, varied and filled with both triumphs and challenges. But it's the unpredictability of these wonderful assets that makes this journey an adventure worth embarking on.
Cheers to the future of digital assets, the discoveries we'll make and the stories we'll share. Here's to navigating this vibrant landscape together!