How to Find New NFT Projects: A Guide for Collectors and Enthusiasts

Introduction

Welcome to our NFT collectors guide on strategies to find new NFT projects. With so many new NFT projects being launched, the excitement and potential of discovering the best is unlimited. However, to newcomers, the process of discovery can be bewildering. With this guide, we hope to make that journey easier with our list of tools and techniques to find the best new NFT projects.

Non-Fungible Tokens (NFTs) are a type of crypto asset that have taken the digital world by storm. Unlike Bitcoin where each coin is identical in terms of features and mutually interchangeable, each NFT is unique. NFTs provide a means of utilizing a digital ledger (blockchain) to represent ownership of a distinct unique item, whether digital or physical.

NFTs have become a tangible link between our virtual and real worlds. The ability to represent a certificate of ownership on a digital ledger for unique items has seen huge success across the arts and music worlds, and the possibility for more use cases continues to grow including real-estate, collectibles and other physical items. For more on fungible vs non-fungible tokens, see our previous article.

Understanding NFT Projects: The Basics

Beyond the technical aspects, any major NFT project usually has a founder and team. (We’re referring more to platform launches and branded projects than solo artists releasing a collection). A team can consist of roles such as founders/developers, marketers, community managers, and artists (for art based NFTs). Always DOYR on the team – even for a solo project with just one developer.

To increase the odds of success, an NFT project should tap into an existing ecosystem or platform where it can create demand. Tapping into an existing ecosystem increases the odds of an ample supply of the talent necessary (developers, white hackers, testers, auxiliary networks) to grow the underlying blockchain and adjacent communities that could be relevant to the project’s success. A growing and vibrant ecosystem ensures the chain’s existence beyond the life of the project, and increases the likelihood that the project will be around for a while. To get the community interested, innovation plays a factor. Is the project doing something new? Official partnerships with existing brands, artists or influencers can benefit from the project having an existing fanbase.

Staying updated is crucial for collectors. Be vigilant in your research to verify the identity of the creator, thus avoiding offers that promise unrealistic profits. A successful NFT project hunter needs to stick to reputable platforms and marketplaces, and follow the news and alerts. NFT community engagement is also a crucial tool in discovering budding NFT projects.

Marketing deserves a mention here, as it can add immense value to a project by bringing it to the widest possible audience, through building hype and interest. By evaluating marketing efforts, you can assess the project’s chance of success. Marketing is expensive and needs a plan. So a well-funded and clever marketing tactic will reveal the financial state of the project and how optimized it is for success.

With the above in place, the technical aspects of an NFT project consists designing the tokens, minting them on a particular blockchain, and getting them listed on a select marketplace.

Research Techniques for Discovering NFT Projects

There’s a vast amount of information out there for discovering NFT projects. The following is what we keep in mind when hunting promising projects.

5 Essential Tools for NFT Discovery

Discovery apps – These are websites that monitor real-time blockchain activity. Look for those that leverage NFT research techniques such as raritysniper.com and the NFT sections of dappradar. Utilizing data analysis techniques, these apps present results in online dashboards, allowing you to find new NFT listings as they happen, as well as monitor market volumes to find projects on the rise.
NFT Aggregators – These are multichain NFT platforms that allow for cross-chain discovery of NFTs all from one spot, with search and filtering options to help you to find the projects that interest you the most. Ilunafriq has a section to browse and discover multichain NFT listings.
Events and Conferences – Online or in person, these can present a great opportunity to immerse yourself in the NFT world. They can be the place to receive special announcements, hear from experts, learn from project breakdowns and presentations, and gain insights from community interactions.
NFT calendars – Discover new NFT projects the moment they are launched. Just search for ‘NFT calendar’ to find the top websites providing this information. Rarity Sniper is a good example. On the homepage you can find ‘Just Launched’ projects to research and evaluate.
Exchange Announcements – Central exchanges such as Binance, Kraken, or Coinbase can cause a project to rapidly increase in value and popularity by announcing a listing. An exchange listing can be the catalyst to grow the project long term, and demonstrate that it’s been vetted and approved by the exchanges’ research teams.

Utilizing Social Media to Stay Ahead

Leveraging social media for NFT discovery is a vital tool in your hunt. Instagram, a visual platform already popular with artists, is a great place to explore NFTs. Search by hashtags like #NFTArt and look for those with a following on the rise.

As far as social media networks go, X rules on anything crypto, including NFTs. By seeking and finding a good range of NFT accounts to follow, you can stumble across new trends and projects. Not to mention, X is where the latest announcements appear as they occur.

Top Social Media Accounts to Follow for NFT News

Get started on populating your social media feeds with great sources of NFT discovery by considering following some influencers such as:

Beeple – An artist whose drawing sold for one of the highest recorded prices in NFT history.
Pranksy – With over 400k followers, Pranksy is an “Ambassador and collector of Web3 & #NFTs since December 2017”
Frank – Known for honest insights, Frank is the co-founder of renowned projects degods and y00ts.
Vitalik Buterin – One of the best known founders of Ethereum blockchain, Vitalik provides fascinating insights into both crypto and NFT projects.
Farokh – Farokh runs a live podcast called FOMO HOUR, is the founder of DecryptMedia, and a highly influential investor and NFT collector. This is a good account for keeping abreast on NFT social media trends.

The Role of NFT Marketplaces and Aggregators

Although using the tools and platforms mentioned, and following influencers and tracking the news, there’s no substitute for self discovery. It can be immensely satisfying to find that elusive NFT project that really grabs your attention, and make it your own. NFT Marketplaces and NFT aggregators are the best place for this. Utilize their search and filtering capabilities to explore different collection types and projects or simply browse their extensive portfolio.

OpenSea, Blur and MagicEden are some of the biggest marketplaces out there. Ilunafriq is the first aggregator to truly showcase and curate multichain NFT 1/1s and collections.

Community Engagement: Forums and Discord

When evaluating an NFT project, it’s important to consider community; in this case, the community that has risen around the project. A project that boasts reputable individuals in the NFT scene is perceived as having a higher chance for success – and a better return on investment. Forums and Discord can be important tools to evaluate a project’s community engagement.

Discord is an instant messaging and VoIP social platform initially developed towards online gaming uses. The crypto world has since made it their own. Discord NFT groups frequently have tools and plugins that let you browse and discover NFT projects.

Projects tend to have a dedicated online forum where folks can exchange ideas and bond over the project. Be sure to check for a forum, which can exist alongside a Discord server – sometimes Discord is leveraged for the general public, while a website forum is reserved for more technical documentation, and/or development matters.

Analyzing Potential: Tips for Evaluating NFT Projects

To put these strategies together, here’s a list of best practices for evaluating the potential of an NFT project. You can treat this as an additional checklist for projects you discover in the wild.

Online media coverage – Check for blog articles and see if others are writing or making videos about the project. This can help signal the quality of the project.
How many social media followers does the project have?
Which Blockchain is it built on? Ideally an established and reputable platform with a strong ecosystem signals longevity and positively influences price.
How active is the project community? Look for rapid growth in the number of folks joining the Discord, Telegram and Twitter groups.
What is the project based on – Art/Music/Collectibles? Do the items have good provenance; can the artists or real world objects be unquestionably verified as legitimate?
Are the team and founders real people? What’s their reputation, background and track record?
Roadmap – The project’s website should lay one out clearly, showing the progress of the project and projected path for announcements, feature releases etc. The best roadmaps show evidence of achieving milestones, and solid future plans. Check it isn’t just vague or generic. If the project misses milestones, this is a red flag if there’s no good reason. For misses, are they sending communication that explains? Does the explanation make sense? Overall, is there communication from the team and what is the quality of the communication?
Partners, Brands, Artists – Who is the project teaming up with? Popular or well known artists and brands can ignite strong demand for the project and generate interest upon launch.

The more positive the answers to these questions, the stronger the indication that the project might be a sound investment.

Conclusion

We cannot stress enough the importance of early discovery, yet this doesn’t always mean brand new. Some projects take a long time to gestate, and gain value over time. Will you discover that hidden gem before it breaks out? Staying proactive is key, and adding some of the strategies we’ve mentioned to your toolbox. Be sure to also join and participate in the vibrant NFT communities of the projects that you find interesting. The majority can be found on X and Discord.

Visit Ilunafriq and leverage our multichain NFT aggregation platform to find that NFT project. Our cross-chain aggregation technology offers artists the best means of showcasing their art across multiple blockchains, and buyers a convenient way to browse across chains.

Tags: evaluating NFT projects, how to find new NFT projects, how to find upcoming NFT projects, NFT collectors guide, NFT research techniques