09/09/2022 BSC News Weekly NFT Roundup: 7 Things to Watch Out For While Investing in Your Next NFT Project

Investing in a Worthwhile NFT Collection

There are an increasing number of scamNon-Fungible Tokens (NFT)projects and NFT creators who are here for the big bucks. Scams seem to be on the rise in this bear market too. Therefore, it might be hard to choose a worthwhile NFT collection among the thousand projects that have the potential to succeed.

As a result, we've put together a few things to consider when investing in an NFT collection and how to identify the best ones. Please excuse us for using some of our favorite NFT collections as examples.

Let’s start:


A good team with relevant industry experience is crucial for the success of the NFT project. It's also a plus if the team has enough partnerships to add value and exposure to the project. You can find this information on its website and social media accounts.

In recent years, however, we've seen an exciting phenomenon emerge within the cryptocurrency community: anonymous founders. Even though the team is anonymous, that doesn't mean you should disregard their NFT collection.

For many years, no one knew the team's identity that created theBored Ape Yacht Club. Nonetheless, we all know the story of BAYC's success.



One of the reasons whyy00ts NFTwent viral recently was its exclusivity. As a result, there were not many people who were able to mint the NFT. In order to be considered, interested individuals had to submit an application to the team members.

It is likely that many people battling for mint nowadays want to flip it for a profit and re-list it as soon as possible. So sometimes, it’s better to have exclusivity to sustain the project.


Roadmap and Utilities

It is common for good projects to have thoughtful roadmaps. Go to the project’s website to ensure the roadmap is achievable and look for massive promises within ridiculously short timeframes.

Check out what the utilities are on offer as the days of owning NFT just as a PFP are over. Does it provide access to certain events and a means of generating passive income? Are there any preferences for future NFT collections? etc. Of course, there's no guarantee that all good projects start with a roadmap, but most do.



Having a loyal community is important for the success of any NFT project. If you ask anyone whyDeGodsis so successful, they will probably say it is because of the community. It resonates with people, and they proudly display Dead Gods on their profile pictures.

It is good to have a growing community since it means more people are backing your project, but fake followers will not do you any good. Participate in conversations in Discord or Telegram to evaluate the quality of the community by observing how people behave.


Having Traction

Analyze how the community responds to the project and whether it receives any attention. Examine the website and social media accounts and ask yourself:

  • Is the art unique and easily identifiable by others?
  • Is it exciting and has long-term potential?
  • Do most of the NFTs belong to the same people or are there many unique holders? Based on the blockchain, you can verify this by looking up the NFT’s address and transaction history on Etherscan, Solscan, and BSCscan.
  • What is the social media following of the project? In addition, who are these followers? Are those bots?


Crypto projects backed by celebrities have gone far, and some have become complete scams. So it's essential to be careful about that. This means you should be selective and pay attention to who stands behind the project.


Most of the most successful NFT collections are built on Ethereum. The Ethereum-based NFT marketplaces also have a higher volume than others. Thus Ethereum NFTs have more chance of getting noticed.

However, NFT projects on Solana andBNB Chainhave also gained traction in recent months due to their low gas fees and faster transaction speeds. Among the best examples are DeGods andPancakeSquads.

Today we have discussed what to look for to reduce your risk of getting scammed or losing your hard-earned money when buying an NFT. However, if you want to analyze a project in-depth, you may need to go the extra mile. You'll learn more about this next week and some tools that can assist you along the way. Until then, stay tuned and keep learning. Buh-bye!



Interesting NFTs
Domestic - 2017
“Domestic is the manifestation of the cultural patriarchy in my home. The wooden "woman's" tragedy of false desire. It was done in a moment of breakup. The hollow 3d body & its lost eyes, invites you to fill up. Trying to reach out, encumbered and wrapped in its own fragility, the new mother rises."
Digital Painting hand-drawn on iPhone6, 1080px x 1080px, 2019
Beautiful Worlds
Welcome to the ‘Beautiful worlds’ where nature and technology have merged into a single entity. These are Ai generated and hand finished visions of solarpunk future in which I would really like our future generations to live and prosper: the future we might have if we took the very “alternative route” which now lies before us: replacing states and corporations which free federations of communities and cooperatives, using decentralist and ecological technologies to create a world beyond economic scarcity and social hierarchy, defined by autonomy, mutual aid, diversity, and inclusiveness. The long-term goals of solarpunk are freedom and well-being for all by adopting and developing such ecological technologies as: solar, wind, wave and geothermal energy rather than oil or gas to generate electricity; a world of decentralized eco-cities, permaculture and vertical farming, free and open-source software, open-source hardware, small-scale fabrication laboratories, micro-manufacturing, 3D-printing, and countless examples of commons-based peer-production online: meeting the maximum amount of needs, in the shortest time, using the minimum possible amount of energy. It’s a world of decentralized and confederated eco-communities, using technology for human-centric and eco-centric ends rather than for accumulating power and profit – mending the metabolic rift between first nature (the natural world) and second nature (human culture) – and where social hierarchies of race, gender, sexuality, and disability are considered horror stories from the past “oil age”. Solarpunk desires societies of polycultural ethnic diversity and gender liberation, where each person is able to actualize themselves in societal environment of free experimentation and communal caring; This philosophy proposes that in order for the social and natural worlds to reconcile, humans must first transform their relations to each other – recreating society along egalitarian, cooperative, and democratic lines – and then transform their relations towards nature – adopting an attitude to cooperation, rather than domination, towards the planet and its nonhuman forms of life. Text by Connor Owens. This artwork took me a year to create and for you it will take a year to discover. Master autonomously updates once a day at 12am with one of 366 original artworks. Enjoy!
Fight Out #102
FIGHTOUT: JOIN THE FUTURE OF MOVE-TO-EARN Level up your health, earn rewards, and compete in the metaverse. FightOut will track your real life workouts and improve your avatar’s stats as you progress.
By OthersideDeployer