Section 1.1: Identifying Promising NFT Projects

To find the next big projects, consider using platforms such as rarity.tools. Their “Upcoming” tab lists upcoming mints, including the mint dates, total token supply, and links to social media pages.

Additionally, joining Discord and following key figures on Twitter is crucial. Twitter serves as the heartbeat of the NFT community, providing timely updates and insights. Here are some influential accounts to follow for the latest trends:

• Punk6529
• NFT_God
• Garyvee
• Pio.eth
• NFTNick.eth
• Kix.eth
• EasyEatsBodega
• JoshBobrowsky
• DepecheNode
• JaydenLevitt (my account)

Section 1.2: Gauging Market Sentiment

Understanding the sentiment surrounding a project is vital. To assess potential buying and selling pressure, engage with community discussions on Discord and Twitter. Look for informed conversations about long-term value rather than floor prices, which can indicate a strong community and reduce selling pressure.

Read at least 50 comments across these platforms to identify any red flags, such as:

• A lack of understanding within the community
• Discussions around manipulating the floor price
• Founders focusing on the floor price instead of project value

Section 2.1: The Impact of Whales on Trading

Unfortunately, the influence of prominent NFT buyers is a reality in the trading ecosystem. Larger wallet addresses often signal safety, leading to spammy airdrops and increased trading volume. To track these movements, nftscoring.com offers valuable insights, although it does require a subscription. If you prefer not to pay, monitor what projects influential figures are following on Twitter.

Section 2.2: Evaluating Secondary Sales Volume

When searching for NFTs to buy and sell, focus on projects with robust secondary sales volume and reasonable market value. Here's how to determine fair market value:

1. Search for the project on Opensea.io.
2. Check the “Total Volume” (ETH).
3. Look at the “Items” (total NFTs in the collection).
4. Divide Total Volume by Items to assess if the floor price is under or overvalued.

For instance, Veefriends Season 1 shows a total volume of 57,000 ETH across 10,300 items, yielding an average price of 5.5 ETH, which aligns closely with the current floor price of 5.4 ETH.

To understand daily trading activity, click on the “Activity” tab and filter by the last seven days. If daily sales are minimal, it may indicate limited trading opportunities. Conversely, consider making lowball offers to secure sales when market conditions improve.

Section 2.3: Strategic Buying and Selling

Once you've identified a collection worth trading, wrap your ETH and submit lowball offers on NFTs. Keep in mind Opensea’s 2.5% fee and any creator royalties when selling. For example, Veefriends has a 10% royalty, while Renga has a 5% royalty.

While some platforms, like Sudoswap, charge lower fees and do not honor creator royalties, it's essential to consider the long-term implications of your choices in the Web3 ecosystem.

Finally, place multiple offers below the floor price to maximize your profit margins after fees. If you purchase from someone eager for a quick sale, promptly list the NFT slightly above the floor price to secure a small profit. Traders often do not mind paying a little extra for high-volume projects, especially when larger buyers are actively participating in the market.

In conclusion, keep refining your strategies and repeat the process. For more insights, follow me on Medium, LinkedIn, or Twitter.

Note: This article is intended for informational purposes only and should not be construed as financial, tax, or legal advice. Always consult a financial expert before making significant financial decisions.