The space of NFT art is booming, with users earning money by flipping NFTs. Keep reading to find out why you should consider flipping NFTs and learn the best(and proven) tips on how to make the most out of it.
Making more in a day than most make in a month — welcome to 2022 and the insane world of NFT flipping. This is the time and age we’re living in, in a nutshell, and it’s fairly easy(although not risk-free).
I have been a fan of flipping stuff most of my life, and NFTs are just a different level, not so hard to climb in my game. But if that’s not the case with you, then I would definitely watch my steps in the market. While no salesperson can show you exactly what makes an excellent salesperson, experience gives you the best tips, and you learn the winning approaches in time.
But I will surely try my best to share the most useful tips when it comes to NFT flipping. I’ll walk you step by step on how I look for the top flips. If you are new, please start investing with smaller sums(such as 0.25 ETH or cheaper projects).
Why Flip NFTs?
You can just flip valuable stuff, and NFTs have proven to be valuable, quickly attracting all types of enthusiasts and investors. Over $27 billion was spent on ERC-721 and ERC-1155 smart contracts(that represent NFTs) — meaning the well of opportunities is deep.
Except for bitcoin and altcoins or producing and collecting digital art for the long term, you will want to get in on high-volume NFT projects for faster flipping. Although it comes with its own risks, flipping NFTs is a fairly quick way to enrich your portfolio.
3 Tips to skyrocket your earnings through NFT flipping
The simplest one I can think of is posting something for 0.99 ETH instead of 1 eth. 0.99 ETH looks less expensive. Although it’s literally the same price. Also, your 0.99 ETH listing is going to be presented(and even get sold) before all the 1-ETH listings.
The concept resembles the ones on eBay or any other online store, where a $99.99 has a way better chance to be sold than a $100 listing. It’s all a sales approach that goes hand-in-hand with human behavior.
- Find a profitable niche
In NFTs, you need to do close research and find your niche. Common niches include animal-themed art, abstract paintings, collectibles, domain names, and even virtual plots of land (metaverse properties).
- Find rare NFTs to flip
The best way to find rare NFTs is through an NFT market. Top NFT marketplaces have a listing of all the NFT projects and their prices. Analyze the number of NFTs in circulation and how they’re performing.
If a project has a lot of NFTs, you’ll probably want to pass on it. If a project has a limited number of NFTs, you’ll probably want to buy many(or all) of them.
How to get started flipping NFTs?
Flipping NFTs comes down to a basic process. You need a Web3 suitable wallet like Metamask or Trust Wallet. As for selling, it’s essential to know what and when to sell as a flipper.
While that decision is solely on you, the tips I shared with you can be useful. Also, it is important to check the volume and recognition a project is receiving while having a close eye on other great projects.