NFTs are becoming more than just images on the internet that are selling for shocking sums of money. New NFT projects are pushing the boundary of what is possible with blockchain technology.
With the rise in the supply of new projects being minted on the blockchain, competition is heating up for creators who hope to push these boundaries and stand the test of time in an exciting new market.
This market excitement marks a critical time period for NFTs — historical projects are being rediscovered and we’re seeing Apes and other characters take over the profile pictures of pro athletes and famous rappers. Everyone wants a piece.
But with so many new projects launching on a regular basis, it can be overwhelming to make sense of it all and figure out where to spend your time and money.
How do you identify the smart creators who are pushing the limits of blockchain technology? What real-world impacts can an NFT project actually have? How do you figure out what a “good” NFT project is?
We’re going to take a look at a unique project that contains a lot of attractive elements (as well as some downsides) as a case study to help you both learn what NFTs can do, how to identify projects that resonate with you, and how to stay practically optimistic about your investments.
Before spending money on any NFT project, you should do your own research and never spend more than you can afford to lose. Just because a writer on the internet likes a particular project, doesn’t mean you should buy into it.