Professional Documents
Culture Documents
What is an NFT? 5
How do NFTs work? 6
What does it mean to ‘Mint’ an NFT? 8
What is an NFT Collection? 10
What is Opensea? 11
OpenSea Categories 13
What are NFTs used for? 18
What gives an NFT its value? 19
How do I buy an NFT? 22
What are fixed-price listings & auctions? 35
What is an NFT Marketplace & what are the most popular? 38
What are the different blockchains for NFTS? 39
How do I avoid scams when purchasing NFTs? 40
Who is buying NFTs? 42
What are gas fees? 46
How do I store an NFT I own? 49
What is an NFT Wallet & why do I need it? 50
Can I protect my NFT with a Cold Storage Wallet? 53
How can I flip an NFT for a profit? 54
5 Rules we use to find KILLER NFT Projects 55
Scouting for your first NFT 58
What is the ‘Floor Price’ of an NFT Collection? 65
BONUS CONTENT: Creating An NFT Project From Scratch! 66
How do I upload my NFT Project to an NFT Marketplace? 68
How do I display my NFT Collection? 69
How do I safelist my NFT collections? 70
How do I get my account verified? (blue tick) 71
How can I Mass Generate thousands of unique NFTs
Automatically? 72
5 Keys to a Successful NFT Project Launch 73
How can I improve my discoverability? 76
How to Create a Discord Server 77
How to run a successful Giveaway to grow your Discord
Server 82
What does it take to earn $100k from NFT art? 88
Passive income from NFTs 91
Are there any other networks that are gas-free? 92
9 NFT Projects which went viral & made millions in sales! 93
What is an NFT?
NFT stands for non-fungible token. Fungibility is defined
simply as “the ability of an item to be replaced with
another identical item”. To understand what this means,
simply think of most of the things you own. Your phone,
your laptop, your chair. Anything you could go and sell on
eBay falls under the category of non-fungible items.
Music
Domain Names
Virtual Worlds
Trading Cards
Sports
Utility
Collectibles
Currently, some of the most viral NFTs collections fall
under the collectible category. Some examples that I’m
sure you’ve already heard of include, Bored Ape Yacht
Club, CryptoPunks, Meebits, and Pudgy Penguins
“Bored Ape Yacht Club” is a collectible collection. The
collection consists of various digitally drawn apes. The
majority of them share mainly the same foundational
features but attributes like background color, clothing,
facial expressions, style, text, etc all vary to create a full
collection.
What are NFTs used for?
All artists can easily display & monetize their work.
To view the NFT click on “In Wallet” on the left of the page.
If the NFT isn’t visible keep in mind that there could be a
slight delay due to processing time.
What are fixed-price
listings & auctions?
When you’re searching for an NFT to buy, there are two
ways the NFT will be listed. One way is through a fixed
price, this is where the creator will set a price that’s not
subject to bargaining.
You can also set the NFT a reserve price and if the seller
doesn’t receive any bids equivalent to or greater than this
price, the auction will end without this sale.
● OpenSea
● Rarible
● Nifty Gateway
● Axie Marketplace
● and so many more.
What are the different
blockchains for NFTS?
NFTs are commonly on the Ethereum blockchain but can
also be on other networks too, such as Solana, Polkadot,
and Avalanche.
One-time fees
- The first time you trade on OpenSea you’ll have to
pay an account registration fee or an account
initialisation fee before you can begin listing on
Ethereum. After you pay this fee you be allowed to
trade between your wallet and OpenSea as well as
transfer NFTs when a sale occurs
- The first time you use any cryptocurrency for the first
time, you’ll need to pay an approval fee
- Accept an offer
- Transfer an NFT
- Purchase an NFT
- Delete a listed NFT
- Cancel a bid
- Convert cryptocurrencies
- Freezing your metadata, means your item will be
safely stored forever. This is where you permanently
lock and store it on decentralised file storage allowing
data such as item name, media, description,
properties, levels, and stats to be accessible for
others to view
Gas-free
- Minting a new NFT, due to the “collection manager”
you are able to create NFTs for free!
- Opening a collection
- Listing an NFT as fixed price & auction
- Reduce the price of an NFT you’ve listed
How do I store an NFT I
own?
On OpenSea whether you’re a creator or a collector, the
platform allows you to customise your profile however you
want.
1.The Community
When picking an NFT project, you want to make sure
it has an active community with a future vision or
roadmap. Always make sure to check the project’s
engagement on Discord and Twitter. A good NFT
project will have an active community and won’t be
flooded with fake comments or spam.
2.The Brand
When investing in NFTs, you are investing in the
brand behind them. Unlike cryptocurrencies, NFTs
cannot be sold instantaneously. They are less ‘liquid’
because you must find a buyer that is willing to
purchase the NFT from you on a marketplace.
Liquidity can become an issue if the creator or team
behind the project does not have long term plans to
keep the brand alive.
3. The Vision
Tying into the previous point, when choosing an NFT
project to invest in, it is important to buy into one that
you believe has a future. It is important to know that
the team is committed to the project for the long term,
rather than trying to make a quick buck. To determine
this, look for a project roadmap. The vision should be
unique and mapped out over years, not months.
4.Limited Mints
If a project has a limited number of available mints, it
is much more likely to hold value.
If a project limits their mints in a collection, there will
be less available on the market, creating scarcity and
increasing the value.
5.The Product
When you are purchasing an NFT, it is important to
look at it from the perspective of the value it brings as
the core product. The value can be in two forms,
either tangible or intangible.
Using this tool allows you to bypass all the complex scripts
and software that developers use to generate NFT
projects.
4 Keys to a
Successful NFT
Project Launch
1. Planning
Before you launch your NFT project, it is critical that
you plan it out in depth beforehand. The questions
you should be asking yourself are:
3. Make it exclusive
The most successful projects have caps on the
number of NFTs that are created. By having a fixed
amount available for sale, it allows the NFTs a much
higher chance to hold value. Some examples of these
are:
● Run a Giveaway
Organising a giveaway of an NFT from an
upcoming collection is a super popular practice in
the NFT space. By running a giveaway, you can
very quickly grow your social channels and build
a community around your project.
Your new channel will then appear on the left hand side
underneath its corresponding category. Note that you can
create your categories first, and then your channels or vice
versa. Once your categories are created, simply drag and
drop channels under categories to organize them as you
like.
Discord Bots
It’s a great way to know where all your joins are coming
from. You can also use it to make people want to invite
other people who they know to your server for some type
of reward.
The first box under End Date is where you configure what
day you want the giveaway to end. The format, as shown
in the box, is dd/mm/yyyy. You can also click the little
calendar icon on the right side of the box to display an
interactive calendar which you can use to choose the day
you want the giveaway to end.
The second box is where you configure at what time you
want the giveaway to end. It uses a 24-hour clock format.
You can also click the little clock icon on the right side of
the box to display an interactive time selector which you
can use to choose the time you want the giveaway to end.
Fill out the rest of the required fields.
4. Crossroads
($6,600,000)
3. CryptoPunk #7804
4,200 ETH ($7,570,000)
2. CryptoPunk #3100
4.200 ETH ($7,580,00)