How to get into NFT art and GameFi: 3 tips from Liquidifty
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How to get into NFT art and GameFi: 3 tips from Liquidifty
NFT prices are very attractive right now, but how do you choose between dozens of marketplaces and hundreds of collections? Here are some insider recommendations from the experts at Liquidifty, one of the top GameFi marketplaces: they will help you get started with NFTs and avoid the common beginner mistakes.
Tip no.1: GameFi is the best option when getting into NFTs
By now everyone has read about people who got rich minting NFTs like Bored Apes Yacht Club at $200 and selling them a few months later for $200,000. But for each success story, there were thousands of people who rushed to get into NFTs and bought something that later went to zero. So how can you maximize the chances of success as a newbie?
We’ve asked the expert opinion of the team of Liquidifty, a dynamic marketplace that focuses on gaming and metaverse NFTs on Binance Smart Chain. In addition to dozens of gaming projects, Liquidifty features over 100 independent digital artists, including a specially curated virtual LQT art exhibition.
Wondering how to get into the NFT market? Liqudifty’s the answer
Liquidifty also has a launchpad, so if you’d like to know how to get NFT assets or tokens of brand-new promising games, look no further. The recent successful launches include Drunk Robots, League of Empires, and Chain of Legends.
Unlike most other gaming and metaverse launchpads, Liquidifty makes it easy for every user to get a token allocation thanks to its system of IDO passes: Gas, Liquid, and Solid. Instead of locking up thousands of dollars in tokens and fighting to get whitelisted for an IDO, one can simply buy an affordable pass and participate in every IDO on the platform.
On top of that, Liquidifty pass holders enjoy regular airdrops and raffles with a chance to win NFTs from famous collections like Axie Infinity and Hexarchia.
Having started with BSC (Binance Smart Chain), Liquidifty has recently expanded to Polygon and plans to add more blockchains in the near future, including Ethereum, Avalanche, and Fantom.
But why such a focus on gaming – and why should beginners looking into how to get a NFT try gaming assets? According to the Liquidifty team, there are 3 reasons:
1) A huge growth opportunity. According to a recent market forecast, the GameFi industry will keep growing at 23% a year to reach $74 billion by 2031. More and more gamers will get interested in how to get NFTs of popular crypto games, so there will be a lot of demand for GameFi NFTs.
2) Lower prices. The floor price on the hottest GameFi collections on Liquidifty (such as Drunk Robots) doesn’t exceed $100. Compare this to traditional NFT art collections on OpenSea, which have a floor price of at least $2000 and often in the dozens of thousands of dollars.
3) Real utility. GameFi NFTs aren’t just ‘internet pictures’ – they are used in actual games to earn rewards. Gaming NFTs grow in price as the respective game gains popularity, just like it happens with DeFi dApps and their tokens – and in contrast to regular NFT art collections, which appreciate and then fall based on pure hype.
Tip no.2: check the community before buying
How to get an NFT that is more likely to grow in price? The answer is research – lots of it.
Too often, beginners get the FOMO (fear of missing out) when they see that a new collection is about to sell out. But it’s important to remember that many collections launch – and sell out – every day and that great opportunities will always be there. So the key question isn’t ‘How to get NFT tokens?’ but rather ‘How do I get an NFT that has good chances to succeed in the market?’
The most important factor to look at is community. That’s right – not the quality of art, not the tokenomics, not the roadmap or the backers, but the community. Select a few projects that you genuinely like, then join their Telegram chats and Discord servers.
Take some time to read the discussion and analyze the mood: is the community still elated and supportive of the team? Or are people complaining and spreading FUD (fear, uncertainty, and doubt)?
If there are any issues, they first become apparent in the Discord and Telegram – long before the news reaches Twitter or the media. For example, if the team is suspiciously absent from the chat or vague about the next plans, the community will start to get negative – and you’ll immediately notice it as you join the chat.
In order to avoid disappointment when you get started with NFT assets, look for projects where the team is present and transparent, constantly supplying updates – and where the community is excited about the collection even after the mint is over.
Tip no.3: don’t chase hyped-up projects
The easiest way to lose money when buying NFTs is to go after projects that everyone is talking about on Twitter. The popularity of NFT games moves cyclically, and after every peak comes a trough. If a project is already at the center of media attention and its NFTs and/or tokens are pumping, it means it has reached a local peak and the price is likely to go down.
A great example is STEPN, a Move-to-Earn project where you need to buy NFT sneakers in order to earn rewards for jogging or walking. A lot of people joined after reading about the success of STEPN, even though the price of a pair of sneakers had already shot up to $800 and the GMT token was worth $0.5. Several months later, you can buy sneakers for under $100 and GMT for $0.1.
The team at Liquidifty recommends beginners to consider new projects at the stage of an IDO or INO (Initial NFT Offering) or shortly after launch – but before everyone on Twitter starts talking about them. That’s the kind of highly promising projects that you’ll find on Liquidifty’s launchpad.
Summary: how to get into NFT trading and succeed
- Focus on GameFi and the metaverse as it has the best price-to-potential ratio;
- Look to join projects at the IDO or INO stage;
- Choose a launchpad that doesn’t have strict staking or whitelisting requirements;
- Analyze the community sentiment before buying;
- Don’t buy into projects that are at the peak of their hype cycle.
