NFT Labs: Ten tips to help you become an NFT veteran.

NFT Labs: Ten tips to help you become an NFT veteran.

As BAYC, Disney, and other related things continue to break the industry, the most popular concept across the Internet and investment industry is undoubtedly NFT. Many people in the industry have regarded it as a faith. Still, people unfamiliar with the industry could not understand what it is worth, and its meaning to the real world.

This article will introduce the ten pro learning paths to help green hands quickly enter the industry. After trying these paths, I hope you can have some insights and feel the joy of becoming an NFT insider.

1. Familiar with slang and high-frequency abbreviations

Lots of confusing slang, terms, and intentional misspellings circulating under the NFT concepts are essential knowledge to access this field. Many “rookies” who have just entered the industry are confused.

For example, What does Mint mean？

What is Airdrop？ Is it a new product from Apple？

What is OS？ Abbreviation for SOS？

Why does everyone send GM in the morning？

As well as Gas War, Floor Price, Whale, etc., one by one, outsiders are increasingly resisting these terms. Still, familiarity with these is the only way to enter the industry. And through the NFT Labs public account “How to quickly become an insider in the NFT industry？ Inventory of 32 community terms (slang)”, I believe that newcomers can quickly familiarize themselves and memorize them.

After understanding some essential or secondary, or exciting or boring terms, I believe they can make you better fit into the positive and friendly industry of NFT.

2. Have a “MetaMask” wallet and some tokens

The “wallet” mentioned in crypto is not the physical wallet we often refer to but a virtual one. Please do not underestimate it. In fact, this is your crypto account, and it will be the basis for you to experience various NFT operations. MetaMask is the most straightforward and most convenient wallet. It is the most commonly used new player and mainstream choice in the current market. You can search, learn, register, and experience by yourself, but remember to save the mnemonic and private key - they will be your path to enter the wallet.

Tokens are like money in your account. Purchases, handling fees, and some routine operations require Tokens, so an appropriate amount of Tokens is also necessary. The process that mentions in 6 and 7 later also requires Token.

3. Have a Twitter, Telegram, and Discord account

Three social media: Twitter, Telegram, and Discord, have now become a gathering place and discussion place for NFT projects and fans.

Twitter is like the international version of “Weibo.” Without a complete early NFT project aggregation platform, Twitter is the best media to search for early NFT projects and the best choice for early exposure to NFT projects.

Telegram is more like the international version of “WeChat.” Still, the upper limit of a single WeChat group chat is 500 people. In comparison, the upper limit of Telegram's super group chat is 200,000 people. And Telegram does not have many ecosystems like WeChat. Still, it is more like a chat tool, so the community users can communicate with a wide range. They can also get in touch with more and more real communities and user opinions.

Discord is like the international version of “YY” and the most important social media in the NFT field. Due to the advantages of Discord's functional design, it is a gathering place for fans of each NFT project party. It is also a platform where you can directly communicate with the project party, participate in activities, and perform a series of operations. Discord's complex functions and interaction design differ from traditional social tools. There might be some trouble using it at first. Still, once you solve this problem, you will feel the power of this tool and understand why it can be the primary social media in the encrypted field.

Although these are all English-based tools, they have much Chinese content. And with the increasingly powerful functions of translation software, even users with poor English don't have to worry too much.

4. Join some Web3 communities and chat

Web3 is relatively broad, and any idea of decentralization can be called elements in the field of Web3, such as DAO, NFT, Metaverse, etc. (For details, please refer to “The Revolution Belonging to Internet Users - Three Cores to Look at Web 3.0”)In the Web3 field, people are the carrier, and users are the core.

At present, the entire Web3 industry is in an early stage. There is no comprehensive learning path, so in addition to actual participation, the most effective learning method is to communicate with users and bigwigs in the industry, ask a lot, and gradually turn it into your own understanding.

“One day in the world, one year in Web3” is no exaggeration to describe the rapid changes in the Web3 industry. Suppose you are just groping in the field alone. In that case, it is easy to lose access to the most cutting-edge news, your thinking will be solidified, and you will eventually be left behind.

Of course, the community has no limitations. The WeChat, Discord, and Telegram communities are all places for everyone to communicate. However, be careful about items recommended by “unknown group friends” in the community and advertising information.

5. Change an NFT avatar

In the real world, no two commodities exhibit completely similar characteristics or values, so they are called non-homogeneous commodities, which refer to unique and irreplaceable commodities; similarly, there are no two commodities in the field of NFT. Precisely the same NFT, so it is called a non-fungible token.

People in the NFT are thrilled to buy some NFTs with collectible attributes and are happy to replace them with their own avatars because each NFT is unique, so each avatar is unique.

For new players, who may not have tried to buy an NFT, or saw an NFT they liked - or that their favorite NFT is too expensive. Still, there is no actual rule that only the holder of the NFT can use it as an avatar. It is like the number of users who use BAYC as an avatar on the Internet far exceeds the actual number of BAYC.

So, choose an NFT you like and replace it with your social media avatar. You may have a different chat experience. Why not try it？

6. Try to get a whitelist

The whitelist is generally a reward for early project supporters. It is equivalent to giving supporters a quota to ensure they can mint one (or more) NFTs. For some popular projects, users with a whitelist do not need to pay high gas fees to preempt Mint, which saves a lot of costs. Therefore, many users will participate in the activities of the whitelisted project parties; after all, if you get the whitelist, you can choose not to go to Mint, and there will be no loss.

There are also various ways to obtain a whitelist, and with the rise of NFT popularity, it is gradually evolving. In the beginning, many project parties will randomly conduct lottery draws. Then you need to participate in activities and perform project-related artistic creations. Even now, many projects require you to sing, dance, write “articles,” etc., to have a chance to win.

Of course, the specific rules are determined by the project side. The whitelist of projects approved by users may be hundreds of thousands of dollars. In contrast, the whitelist of projects not approved may go unnoticed.

7. Try Mint and purchase an NFT

Mint refers to directly “minting” to create an NFT, which belongs to the category of the primary market; purchase refers to the direct investment of an NFT from the trading platform, which belongs to the variety of the secondary market.

Mint is generally divided into two types. One is to directly go to the NFT set up in the Mint project party contract. The other is to prepare content in formats such as pictures and videos by yourself and go to Mint for its own NFT. The general users refer to the “rushing project” as the first type, which is optimistic about the long-term holding of the project or the short-term profit of selling it after Mint; the second method is primarily commemorative or to experience the process.

Buying an NFT from the secondary market is the easiest way. After choosing your favorite NFT and preparing a certain amount of tokens, it only takes a minute or two to get it. There are many different types of trading platforms in the market, each with its own characteristics. However, OpenSea is still the current leader, accounting for more than 90% of the trading volume.

Whether it is Mint or purchase, it is an excellent way to get familiar with the NFT industry and logic as quickly as possible.

8. Learn to use relevant tools

So far, I believe you are already a qualified NFT insider. Still, if you can use tools proficiently, you will have the ability to see more NFT market opportunities.

Just like a chef cannot leave without a sharp sense of taste, the help tools shown in the chart bring to NFT users is also huge. With the help of the trading volume indicator of those tools, we can quickly understand the changes in the market popularity; with the use of the giant whale indicator, we can know the projects that big players tend to favor to judge the spread effect of the project or the risk of smashing the market; with the help of the rarity of the tool degree index, we can effectively select the most cost-effective NFT, and so on.

9. Real-time capture and exchange of industry information

As the article mentioned, “One day in the world, one year in Web3”, the industry is changing too fast. There is currently no brilliant front-line news aggregation platform, so the discovery and dissemination of all front-line news are artificial. Suppose you can capture changes at the forefront of the industry, obtain information on front-line projects, or be keenly aware of market sentiment and respond quickly. In that case, you will be a perfect NFT insider.

But what if you can only see the information and don't have the ability to analyze and respond？ Send the information you have discovered to the community, discuss it with everyone, and turn the process and results into your own thinking, which will definitely gain something in the long run. This sounds simple, but it's something many users can't do.

And don't forget that the best way to make money is through.

10. Completely read “From 0 to 1: Mastering NFTs” released by NFT Labs

“From 0 to 1: Mastering NFT” can be the first step to help the novice to have a preliminary concept of the NFT industry and raise their interest in NFT; it can also be placed in the last step after they have stepped into NFT, help them take action forward and improve their understanding of the entire NFT industry and even the Web3 ecosystem.

As I said, the whole industry doesn't have a complete learning path. Many enthusiasts in the industry are using their own methods to help people outside the sector join NFT and help people in the industry to better understand - even if one day it fails, it can still be a place to rest for all of your Web3 friends.