The NFT market, which introduced many users to Web3 in 2021 and was on everyone’s lips for months, is experiencing its worst period lately. The imitation of projects and the involvement of many projects in the scam called rug-pull have caused the market to suffer. However, this situation does not apply to every project, and we have witnessed the launches of NFT projects that have made significant gains, especially in September. So, what should be considered when choosing a project?
The first project I need to mention is Sugartown, the first Ethereum-based game project of the world-famous gaming company Zynga. The project, announced during the market’s most inactive period, launched its first collection on September 13. The NFTs, which will serve as a kind of “key” to enter the game, were minted for free with a supply of 6,000 and reached a floor price of 0.40 ETH ($670). Now, they are finding buyers at 0.26 ETH ($434).
Our second NFT project is ZTX. The project was launched as the project of Zepeto, a company with 400 million users. The company, which received a $13 million investment, announced that they would release tokens and made an airdrop announcement for NFT holders. The project, minted at 0.03 ETH and having a supply of 4,000, was finding buyers at a floor price of 0.33 ETH ($551) at the time of writing.
The last NFT project I will share is BlockGames. The game project, followed by 100,000 people on the X account, will provide services for popular games through its iOS and Android applications. The NFT project, which will offer the chance to earn BLOCK tokens along with a reward system, was minted for free and the floor price of the project, which reached 0.11 ETH ($183), is now finding buyers at 0.06 ETH ($100).
The first and most important detail in the projects I have chosen is the absence of mint fees or the cheapness of the price. The reason for this is to protect against possible rug-pull scams. The claims like “We received $50 million in investment” or “We partnered with Polygon” usually indicate that the company received a valuation of $50 million with a $2 million investment and that the NFT project will be launched on the Polygon infrastructure.
In addition to these, what can be done especially for the priority of buying from free NFT projects? First of all, these projects organize giveaways with social media tasks, and you must follow these giveaways. In addition, participating in active chats on their Discord pages can be an important criterion for getting on the whitelist.
To evaluate projects, be sure to check their social media pages. The fact that the project operates in the GameFi field is considered one of the most remarkable indicators of recent times. The fact that the NFT project is minted for free and the limited supply of NFTs between 900 and 6,000 are among the most important factors determining the value of the project.