Let’s discuss how the right NFT tools can help you make a profit.
NFT trading has taken the world by storm in recent years, and especially Gen Z are hooked on trading anything digital. But, as many of them are learning the hard way, crypto is just as volatile as any other form of trading. Luckily, trading smartly with the right tools will give you a much better overview of the market, allowing you to only strike while the iron is hot – and stay far away from plummeting NFTs. Just like how choosing the right web3 wallet is essential to making the most of your crypto purchases – NFT tools are a must for helping you make the right purchases in the first place.
What Can NFT Tools Do For You?
Any good NFT tool will give you access to a wealth of valuable data about the market to base your purchasing decisions on. Of course, they don’t offer any information that isn’t available to the public – but they do organize it neatly for you, making sure that you’re always seeing the full picture.
Does that sound unnecessary to you? Then consider how many hours of research you would have to regularly put in to keep up with price fluctuations, predict trends, perform keyword analysis, etc. – and be honest with yourself about whether you’d keep doing it. Chances are you’ll exhaust yourself and quickly go back to investing randomly.
Invest Smartly Using Data
Investing without data to back up your decisions is a dangerous game. Sure, many NFTs are digital artworks, and buying art should be fun. But if you only buy what looks cool, you could easily fall in love with the wrong thing. Too many young investors have bought into the hype and thrown themselves into NFT trading, forgetting to research – and ended up broke, sometimes even with hefty debts.
Although an NFT tool is also an investment, you won’t regret this one. With an NFT tool to organize all the relevant information from marketplaces for you, you can always find what you need to know by using filters – avoiding making potentially disastrous trades.
3 Great NFT Tools
Now that you know the benefits of NFT tools, let’s take a look at some of the most useful NFT tools right now. While all of these have received rave reviews, the best one for you depends on your preferences. Read on to find out which type of investor each of them are best suited for.
With the highest rating on BuyNFT.com at the time of writing, we had to include this one. Compass lets you track your portfolio, specific wallets and floor prices, monitor trending collections and rare listings – and with their customizable notification center, you’ll know whatever you want to as soon as it happens.
If you’re looking for a macro view of the NFT market, NFTGo is the tool for you. Unlike Compass, this is a free service available on their website – but that doesn’t make the quality any less stellar. Instead of taking the same price-oriented approach to data analysis as most other NFT tools, NFTGo presents metrics from market sentiment to whale activity in a simple, easily decoded layout.
Lastly, NFTNerds is for people who take their trading seriously and want to dive deeper into the cold, hard facts. This tool gives you a real-time overview of what’s going on in the market as well as within specific NFT projects. Here, you’ll find performance ratings updated at lightspeed, rarity rankings, trending and new collections, gas prices – and even a purchasing portal, saving you time when making moves.