What you need to pay attention when searching new mints?
So, what you should pay attention to when you “reseach a degen mints”:
1) the likelihood of a scam
2) social networks and assets in them
3) current meta
4) quality and style of art (attributes, etc.)
5) price and process of mint
6) collaborations
What are degens – these are collections with no roadmap/bad roadmap, which developers are not going to develop for a long time – we consider such collections only for a quick flip.
How take aware of scams mints?
In general, scam on degens – a situation in which developers collect money from us, but do not give anything in return. To protect yourself from scam, you need to count the developers’ money, namely to look at the approximate investments in the collection on the following points:
1) the quality and high cost of art
2) the advertising company and its cost
3) price of a mint
4) enriched or not social networks (enriched costs money).
So, we racked our brains and estimated approximately how much it cost to create the current collection, compared this price with the price of a mint and % royalties and realized how much money the developers need to pay back.
Then simple – if the amount of money from the mint allows the creators of the collection to make a profit – we do not really want to mint it, if they still need money from royalties to pay off (that is, they need the volume of sales on the secondary market), then research it further.
Yes, yes, degens can also be good social networks (good only before and during the first hours of the minutes, for after payback and getting pribyli, social networks die dramatically).
What to watch on social media:
TWITTER:
1) number of subscribers (should be more sapplaya nft ideally)
2) post activity
3) byte announcements (those that fuel interest in the collection)
4) infles in subscribers (they’re there sometimes, too)
DISCORD:
1) number of participants (also more online ideally)
2) online (half or more than half of the participants)
3) activity (speed of chatting (different people should write), number of reactions to announcements)
4) bytes of admins on upcoming announcements
Having checked all these factors in social networks, we make a conclusion about the degree of our desire to buy this collection and go to reserch on the following points.
Current meta in NFT is also very important
Meta is a certain trait or characteristic that makes collections “fire” (show dramatic growth) at the current moment in time.
How we determine the current meta:
1) look at graphs of recent collections and look for commonalities among those that have grown most significantly in floor price.
2) we study strongly grown “non-degens” – usually after these in the meta are degenerates – clones of normal collections.
In general, meta is one of the important factors. Usually there are a lot of clone collections on a certain meta, so after examining and isolating meta, we go to research our collection on the rest of the meta.
Matching a collection to the current meta is not a guarantee of success, but only one component and not the most important.
How to esteem collection art quality?
Regarding art: Given that we are considering a degens, then, going back to the first point (payback), we first need to look at the quality of art. I define the quality of art by the following points:
1) details and drawing
2) the presence and number of attributes
3) art style
4) drawn digitally or originally on paper (on paper more expensive).
Highly detailed, cool drawing, a lot of attributes (all nft are different and have different configurations), a unified style of art (the integrity of the collection), originally drawn on paper or digitally by famous artist – this is an ideal situation where art is the most expensive and the chance of scam collection is reduced.
IMPORTANT! ARTS SHOULDN’T BE STEALED, of course, collections with stolen art also “shoot” sometimes, but stolen art greatly increases the risk.
Mint price and why it’s important?
In an ideal degenk the price of a mint = 0, or more precisely 0.017 SOL, which is spent on the commission of LMNFT.
If the mint price is greater than “0”, it is worth looking more closely at the other factors.
At any price (with the exception of heavily expanded collections), I recommend minting nft at the end of the mint (when 70+% nft is already taken) – it’s the safest.
Personally, my observations – 1 to the moon degens mint will cash out the previous 5 rug pulls, so, as always, I advise to work on volume, ie mint at once for 5 + nft, because with 1 nft will not earn much.
It is also important that you have to mint degens preferably on LMNFT, but not on third-party sites and specially designated for this wallet, which is not a lot of money (as much as you do not mind losing).
The faster the mint pass, the greater the potential will cost NFTs on the secondary market.
How to esteem project collaborations?
Degens have been known to collaborate with other collections, causing the flor price to grow. How to esteem project collabs:
1) watch the creator and his mutual Twitter subscriptions.
2) look at his previous collections.
3) study his activity profile (he might be making airdrops to someone for example….).
4) study the history of his previous collections, if there were any, and their floor price.
Tips and notes
The most important advice – do not be in a hurry to burn your NFT if they trade in loss. Quite often they grow over time, giving us the opportunity to sell them at 0 or even profit.
In principle, burn degens at freemint – not a smart move, because they can grow any second. Better just put them up for sale at your desired price. It’s never too late to burn them.
The second important point on degens is that big earnings = big risk. I buy up to 10-20 NFT and try to make money from the volume (it turns out, by the way), but large purchases are associated with large potential losses.
Sell the same when the normal collection, along with a reduction in the asset on the repurchase, but we sell not all, and 1-2 pieces leave for better times (again, due to the fact that they can grow over time).
Here’s a site to burn your nfts – https://www.sol-incinerator.com/#/