It’s no secret that NFTs are on fire. 

By now, I bet even your aunt has heard about the Bored Apes!

Even though everyone knows that NFTs are selling for eye-popping sums, few people know the skills to “snipe” the next superstar collection. 

Plus, when you consider how many scammers are in the NFT space, it can be discouraging to search for “diamonds in the ruff.”

Honestly, there’s no “method” to minting million-dollar NFTs, but there are a few strategies most successful NFT traders use.

If you take the time to use the techniques listed below, your chances of finding a legit NFT project early should go up.

However, please remember that the NFT space is incredibly risky.

And, if I’m being sincere, you need a bit of luck to hit the jackpot in this space. 

Nothing in this post is financial advice, so please do plenty of research before flipping your first NFT. 

How To Find NFT Projects Early — A Few Tips For Successful NFT Trading

What’s Your NFT Gameplan? — Set Your NFT Trading Rules 

Before hopping onto hot NFT trading sites, I’d recommend taking a few moments to define your NFT trading strategy.

Just as you would invest in stocks or fungible cryptocurrencies, you need to know how to manage risk. 

How much money are you putting into the NFT space?

Is there a particular NFT niche that you’re going to focus on? 

Are you planning to hold a blue-chip NFT for the long-term, or do you want to quickly “sweep the floor” with lower-cap projects?

It doesn’t matter so much what you choose to do — the important thing is that you know what you’re doing!

Having a firm understanding of your NFT goals will take a lot of the drama out of your decisions. 

When you see an NFT trade isn’t working for you, you’ll know it’s time to get out.

On the opposite side, if your NFT goes “to the moon,” you’ll know the price where you want to lock in your gains.

These numbers will help manage your expectations and reduce the risk of getting completely rekt. 

This may seem like an elementary trick, but it’s arguably the most important consideration before getting involved in NFTs.

Focus On Whitelists, Not Secondary Sales!  

After you have a clear sense of managing NFT risk, you need to be on the lookout for whitelist opportunities. 

It may be tempting to buy NFTs on the secondary market. 

However, recent research suggests flipping secondary NFTs is incredibly difficult.

In fact, a recent report found roughly 20 percent of NFT traders make a profit with tokens they bought on secondary sites.

However, this same study found that people who minted NFTs snag a profit roughly 75 percent of the time.

Of course, these statistics don’t guarantee success, but they put the odds in your favor.

So, while it’s OK to look up data on markets like OpenSea, it’s far better to scope out whitelist opportunities. 

If you can’t get on a preferred list to mint NFTs, please know there’s a greater chance you won’t make gains. 

Get Glued To Your Socials — The Importance of Discord and Twitter

OK, so where will you hear about whitelist opportunities for new NFT projects?

Well, there are some great sites that cover NFTs nowadays.

However, everyone into NFTs needs to get familiar with Twitter and Discord.

If you don’t already have an account on these sites, then it’s impossible you’ll find promising NFTs early enough.

People serious about NFTs will constantly monitor Discord and Twitter and follow multiple NFT influencers in the space.

There are loads of free NFT giveaways and whitelist opportunities on these platforms.

When you spot a project that catches your eye, I’d recommend getting as involved as possible before it drops. 

Typically, NFT projects will reward those who promote their brand with perks or guaranteed whitelist spots.

There are also countless contests for NFTs if you follow certain NFT companies. 

For example, the site Rarity Sniper has built a following of 500K on Twitter, and it offers free NFT opportunities almost every day. 

So, if you’re unfamiliar with Discord and Twitter, you need to brush up on your social media skills. 

Take your time building up a modest following on these sites, and follow as many NFT projects and influencers as you can. 

Check Out Highly-Rated NFT-Focused Sites 

You can find many NFT projects simply by searching through Twitter and Discord.

However, there will always be many projects that don’t explode on social media until after their initial mint. 

To find these projects early on, you need to scan NFT-focused websites with a high track record.

The current leader in this space is a site called Rarity.Tools.

When you land on this site’s home page, you should see an “Upcoming” tab on the top.

After clicking this button, it will show you an easy-to-read list of all the hottest upcoming mints.

There should also be convenient links to social media feeds on Twitter and Discord if you want to learn more.

Along with Rarity.Tools, many NFT enthusiasts are now using the site Icy.Tools.

While these sites are similar, Icy.Tools gives more real-time updates on NFT projects that are currently minting. 

Using these two websites, you could identify dozens of promising projects and examine which ones seem to generate the most hype. 

Please scroll through these NFT sites to understand how they operate.  

Binge YouTube To Your Advantage 

You may think YouTube is the last place to hear about NFT news.

After all, YouTube is such a mainstream platform. How could anything fall “under the radar” on this Google-owned site?

In reality, there are a lot of NFT influencers that post tons of videos on YouTube. 

By staying up-to-date on the collections NFT YouTubers are interested in, you should learn more strategies about navigating in this space. 

It’s also common to first hear about an upcoming mint from high-profile NFT YouTubers.

The key here is to watch NFT-focused YouTube videos as soon as they air — so turn on that “bell” notification!  

Since the news in these alerts is so time-sensitive, you must learn all of the latest drop details ASAP. 

If you’re just getting started in NFTs, I recommend watching some beginner videos on the Coin Bureau’s page.

While the Coin Bureau focuses on all aspects of crypto, this channel commands a massive following in the community with 2 million subscribers.

You don’t get that kind of audience for offering low-quality info!

After learning all Coin Bureau offers, you could look into more NFT-focused channels like NFT Verse and Parallax. 

You’d be surprised how many projects you could learn about on high-quality YouTube NFT channels. 

Be Wary Of Rug Pulls On Your NFT Quest! 

I’ll be honest; there are a ton of NFT scams nowadays.

So, before I close this post, I feel it’s important to remind you of the risks of getting into NFTs.

Sure, there are fantastic opportunities in this space.

However, there’s also a tremendous amount of risk, especially with new projects that haven’t been properly audited. 

As a recent example, the Department of Justice caught the team behind the phony Frosties NFTs. If the DOJ didn’t arrest these guys, they could have run away with millions of people’s money. 

Unfortunately, these stories aren’t infrequent in the crypto world. 

It’s always best to review the founders of new projects for transparency and a proven track record.

If you can’t find these details, please know you’re taking on extra risk with your crypto. 

I don’t mean to frighten you from NFT flipping; I just want you to be safe while scouring the web for new NFTs!

By the way, if you’re going to get into NFTs, chances are you’ll need some Ether in your wallet.

For more details on the best ways to get ETH, please read my previous post on “Buying Ethereum on PayPal.” 

Want to learn how I make money using crypto? Check out my favorite node project here.