Finding upcoming collections and becoming a holder at an early stage is a tactic to generate profit in some cases. Imagine you minted an NFT from Bored Ape Yacht Club and hold it until now. The question is, how can you discover these new collections early? And how do you know if these collections have the potential to grow and expand as blue chip collections? Let's dive in.
Step 1: Find Upcoming Collections
The first thing you should do is to find upcoming collections. You will find a list of upcoming projects by Drops Calendar, along with their price, token amount, mint date, and social links (see example below).
Step 2: Evaluate Upcoming Collections
Now that you have got a list of collections you plan to mint, the next thing is to monitor the mint performance when it is live. Our Top Mints feature will help you find insights and clues easily (see image below). Let's say you plan to mint a collection with 500 NFTs at 0.05 ETH each. If half of the collection is already minted within 10 minutes, then we could tell that this collection is trending.
Another way to determine if a new collection is trending is to look at its gas fee and FOMO rate. The higher the gas fee and FOMO rate, the more popular the collection is. If you are still unsure about your decision, you can check if there are any whales minted NFTs in this collection. From time to time, whales can play an important role in determining whether a collection is worth buying as the market also follows these signals.
*Note: the above example does not constitute any investment advice.
Updated 3 months ago