Welcome back all of my Risky Rascals!!
The risky thing about NFT’s is that no one is able to invest in the right project 100% of the time. No matter what you read on the internet or advice that people give you (yes even me) on NFT’s or crypto investments, in general, is guaranteed. With that being said, before you get into this space, it is important to understand your risk management and what you can afford to lose.
Key points to follow when making an investment in the NFT space.
– Is the team doxxed?
-Have the developers completed what they have promised on the roadmap/whitepaper?
-Are the project developers active and answering questions in the discord?
-What is the project’s Twitter to Discord ratio?
-What is the supply and price of the mint?
-What is the moral/engagement of the community?
-Does the community work together in raids, shilling, and competitions?
-Is the project based on hype, community, or organic community hype?
-Is the project Utility-Based, Profile Picture based, or Passive Income-Based?
These are the questions that I ask myself when deciding to collaborate with a project or even invest in a project. Since I have been rugged 5 times in 7 months I have become very selective with my investments. I went from being a Risky Rascal to Risk Management Rascal! I will give an example of a project that I am invested in that meets all of these requirements.
Not only does Space Pugs Alpha has a fully doxxed team, but they also encourage their community members to doxx themselves, plus you get REWARDED FOR IT. I am going to tell you firsthand… that does not happen in this space. The developers have underpromised and over-delivered when looking at their roadmap/whitepaper. They even had a dev leave during the mint but still did not go below mint price (which is a huge feat). CNFT Adam, Ultimate CNFT, and Darkwater have established a project in which the community is rewarded for giving, sharing, and helping others in the discord. This community could run the discord without the devs at this point due to structure, standards, and desire that is how strong and close-knit they are. The Twitter to discord ratio is 3,940 to 10,455 members (which usually is the opposite for most projects who have fake followers). This community is an organically hyped community that takes the best of both worlds to create a cohesive environment working towards one main goal. This project also has utility, PFP collections, and passive income. CHECK, CHECK, CHECK.
If I can give any advice.. do not FOMO (fear) into a project. Create a checklist, make sure the project hits the points you are looking for, and if it doesn’t then move on. Investors need to determine if they are art-driven, utility-driven, or passive income-driven investors.
Do your OWN RESEARCH. This blog’s purpose is to be the insight that I wish I had before investing in the NFT space.
Stay safe, watch out for scams, and always be kind!
Love you all,
Stay Risky you Rascals!
Just got into the cryptocurrency space? Do you keep hearing about these NFT’s? Are you unsure where to start or how to conduct research? This blog is created to share the insight that I have learned from my mistakes as an investor in the NFT space. Everyone doesn’t need to learn the hard way. WAGMI!