August 11, 2022

NFT 101

For those who are new to the NFT space, or have never minted (purchased at its inception, directly from the contract/artist, as opposed to the secondary market from someone else who previously owned) an NFT, please take a look at the steps and videos below. This first video runs around 30 minutes and covers the full range of NFTs and how they work. What is an NFT?

Step 1: Set Up a Metamask wallet. Meta Mask – Browser based wallet for Ethereum and other chains. You will need a Meta Mask browser wallet. Here is a beginners guide for understanding Meta Mask and how to set it up.

Step 2: Buy Ethereum. You will need to buy some Ethereum and move to your MM (metamask) wallet. Buy some ETH (Ethereum) – there are many ways to purchase ETH on different exchanges, or you may be able to buy with your debit card directly on MM. Here are complete guides on how to buy ETH on Coinbase and Binance.

 

Or

Step 3: Set up an Opensea account and link it to your MM – Opensea (OS) is the Number 1 ETH NFT marketplace. Here is a beginners guide to the Opensea platform, as well as buying, selling, fees and gas.

MetaMask Gas Guide:

Other Useful Links: Gas:

Gas Tracker – https://etherscan.io/gastracker

Block Native – https://www.blocknative.com/gas-estimator

Rarity: Rarity Tools – https://rarity.tools/

Gaswars.io – https://gaswars.io/

Analytics:

Icy.tools – https://icy.tools/

Ultrasound.money – https://ultrasound.money/

NiftyRiver – https://www.niftyriver.io/

My NFT buying methology:

My Methodology: At least 95% of new projects are insta-worthless at this point.

I have a methodology for buying and I’m happy to share it. It doesn’t always work. Often it doesn’t.

1) Is it using blockchain for something or is it just fiverr art (or worse) made into an NFT? Is it a game people will want to play? Is it pushing the boundaries or a first mover on some new idea?

2) Who is behind it? Do they have an influencer style following? Are they doxxed? Is there a credible team? Have they been around long enough to matter? Have they done other things in NFT/crypto/defi or art/literary/fashion/travel/gaming space?

3) Do I like the art? Do I like the community? Do I like the devs?

If I haven’t come across any red flags with those three points – then I look at the price. I’m still a minnow – maybe I could flatter myself and say I’m a goldfish – so price matters.

Free is great and easy but depends on gas – everything depends on gas

.01-.03 ETH has to offer some hope of flip potential.

.04-.08 ETH needs to be a buzzing project or really have me excited about the potential.

.09+ ETH needs to be something really special.

As far as investing in projects I’m already in – the same methodology applies. If I can, I’ll buy into almost anything Pixel Vault, BAYC/MAYC, BYO, Lazer Defi, or One Day Bae. I really like those projects. Others, I have to think about – but you can see what I like and am bullish on by looking at my daily(ish) NFT briefing.


This is a great Twitter thread about how to secure your NFTs

https://twitter.com/punk6529/status/1461742366696652809

Finding the Value of an NFT

https://www.publish0x.com/doctorwhoworldsapart/how-to-analyze-and-quantify-the-value-of-an-nft-xlzkxdq

-What is Metamask and why to use it?

https://www.youtube.com/watch?v=byWul4xOBx0

– Learn Defi

https://www.youtube.com/watch?v=TlfOjahDGi0&list=PLaDcID4s1KronHMKojfjwiHL0DdQEPDcq

– What is impermanent loss?

https://www.youtube.com/watch?v=8XJ1MSTEuU0

– What is a Liquidity Pool?

https://www.youtube.com/watch?v=cizLhxSKrAc

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A Guide to Help You Qualify for Airdrops

https://cryptobriefing.com/beginners-guide-how-become-eligible-token-airdrops/

https://twitter.com/BCheque1/status/1489594648041603072

 

This is an astoundingly useful document:

https://docs.google.com/spreadsheets/d/1fhc9u20nKBSUSZnErhRmCfaiRCe8VJztbRaKPS36xQk/edit#gid=0

Rumors:

https://defillama.com/airdrops

– Coinbase NFT platform is imminent. Also worthwhile to take a look at this sheet and attempt to use all the platforms. The free airdrops last year brought some people over a hundred thousand dollars.

https://coinbase.com/nft/announce/21BSAS

– Metamask and OS to conduct huge airdrop someday probably maybe in 2022

Minting Your First NFT

https://www.coindesk.com/learn/minting-your-first-nft-a-beginners-guide-to-creating-an-nft/

https://twitter.com/samuelartmedia/status/1490737560263577603

https://twitter.com/schottsy/status/1490512652615004165?s=21

https://twitter.com/EdFrame/status/1490470139170541570?s=20

 

Airdrops: Rumored Airdrop List

Fraktal.iohttps://waitlist.fraktal.io?referral=9teu6db&refSource=copy

Fee.io – – DYOR – Reportedly was live, then wasn’t. I’m watching but won’t rush in on this one.

Gas.wtf – another airdrop for those who have paid gas on Eth. No new news. DYOR.

 

 

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