Back to Blog

How To Know Which NFTs To Buy (2023) - The Ultimate Guide

Feb 17th, 2023

.

5 min read

Take your time reviewing each NFT’s features before making your first purchase.
Buying an NFT for the first time isn't easy.
Since the 2021 crypto bull run, there are so many exciting NFT collections to choose from. People new to digital collectibles often feel overwhelmed by the options in today's NFT market.
Although it can be challenging to pick the perfect NFT, there are a few tricks new shoppers can use.
Anyone who feels flustered in the NFT space should consider the following tips. This post will reveal our ultimate "NFT checklist" to help you decide whether an NFT is right for you.

How do I know which NFT to buy? Four tips for beginners.

Figuring out which NFT to buy
1. Figure out your "why" for buying NFTs
Everyone jumps into the NFT space for different reasons. There are almost unlimited varieties of tokens to choose from since NFTs can represent any form of digital media,
So, to find the "right" NFT, you need to know what you're looking for! We know that seems pretty obvious, but it's crucial for new collectors to figure out their interests beforehand. A clear knowledge of what you want in an NFT will help you spot opportunities and streamline your NFT search.
For instance, someone who wants high-quality NFT art won't want to waste their time on NFT markets known for pro sports like NBA Top Shot or Autograph. By contrast, sports fans should avoid fine art NFT sites like SuperRare and Nifty Gateway.
Before scrolling through the NFTs on NFT.com, take a few moments to write down what you want in a digital collectible. Establishing your "why" in the NFT space helps you navigate the limitless potentials in this hot space.
If you're having a difficult time defining why you want to get into NFTs, here are a few common reasons to get you thinking:
  • Buy virtual property in metaverses for gaming and potential passive income.
  • Buy established "blue-chip NFTs" as a store of value.
  • Join a dynamic NFT community centered around a common interest.
  • Purchase NFTs related to hobbies (e.g., gaming, pro sports, or movies).
  • Support emerging artists or musicians entering the NFT space.
  • Speculate on new NFT projects or under-the-radar projects.
While figuring out which NFT you're most interested in, please make sure you know the maximum amount you want to spend. Buying NFTs can be competitive, and you may find yourself putting down more crypto than you intended in a heated bidding battle.
Setting your "NFT shopping parameters" is the only way to guarantee you feel 100% satisfied with your first purchase even if it isn’t as exciting as scrolling through the latest NFT collection.
2. Triple-check new NFT projects for safety
Be Wary of Crypto Scams
Unfortunately, scammers are active in the crypto and NFT space. Even seemingly legit crypto exchanges like FTX turned out to be unsafe for traders and investors. Therefore, new traders need to learn the basics of crypto safety before choosing which NFT to buy.
First off, if you don't know how to use an NFT-compatible crypto wallet, take a few moments to read this NFT.com guide. It's always safest to store your favorite digital collectibles in a non-custodial crypto wallet rather than a marketplace. With a non-custodial wallet, you'll enjoy full ownership of your NFTs.
After downloading a reputable crypto wallet, it's crucial to work with crypto exchanges and NFT markets with a solid reputation. Third-party crypto price aggregators like CoinMarketCap have transparent rankings of the world's top exchanges to help you choose the best trading platform. As for NFT markets, NFT.com connects to the leading trading sites through our decentralized protocol. Plus, since each NFT.com profile doubles as an immutable NFT, you have full ownership over your digital identity.
When you start searching for NFTs to buy, always look for official "verified" marks to ensure you're on the official NFT collection's page. For new projects, buyers should review social media and each collection's official website. The more transparent an NFT team's leadership is, the safer it should be.
Again, scammers are a reality in the NFT market. However, if you use the tools listed above, you'll have an easier time choosing legit projects.
3. Review rarity rankings and unique traits
Rarity is a big deal in the NFT space. Often, the most expensive NFTs in collections like CryptoPunks, Doodles, and the Bored Ape Yacht Club have one or two features that put them in an elite category.
Not every NFT collector cares about the scarcity of their NFTs, but everyone has to recognize how these traits influence the price of digital collectibles. If you opt for a common NFT, you won't be able to re-sell it for higher than the current floor price. By contrast, people who own a rare NFT in a hot collection have better odds of selling for a higher price.
Again, shopping for traits isn't super important unless you're interested in a particular feature or you want to trade or invest in an NFT. Just keep in mind that the characteristics associated with your NFT give it a unique identity; hence, they will significantly influence your token's market value.
4. Compare different NFT-friendly blockchains
It's easy for some collectors to forget which blockchain their NFT is on…until they have to pay crypto gas fees!
Although every blockchain uses a similar process to verify NFT transactions, there are significant differences in how each network operates. New buyers need to weigh the pros and cons of competing blockchains to determine which one suits their needs.
For instance, Ethereum has the most activity and best liquidity in the current NFT market, but it charges the highest gas fees per transaction. By contrast, "Ethereum killer" chains like Solana, the BNB Smart Chain, and Cardano have faster speeds and cheaper fees, but their communities aren't as robust as on Ethereum.
There are also new blockchains called "layer 2 scaling solutions" that make using Ethereum more affordable for NFT buyers. Most notably, Polygon is an Ethereum layer 2 with a growing NFT community. People who can't stand the high fees on the Ethereum main chain may have a more enjoyable experience on an L2 like Polygon.
Lastly, a few blockchains are specific to the NFT sector. Most notably, the Flow blockchain has many pro sports and entertainment-focused NFT markets like NBA Top Shot and UFC Strike. By contrast, chains like Enjin and Immutable X focus on using NFTs in video games.
As you can see, there are many NFT blockchains in today's ecosystem, each with a unique set of features. Although Ethereum is the dominant chain for NFT trading, please take some time to explore all of the options in the ecosystem. You may find that another chain offers a better trading experience for your preferences.

Need help finding your perfect NFT? Stick with NFT.com

NFT.com wants to make buying, displaying, and selling as straightforward as possible. Even if you're new to crypto, it only takes minutes to set up an NFT.com profile and start building your digital art collection. To find out more about joining the NFT.com community, be sure to follow this previous guide.

Related Posts

NFT.com isn’t just a home for NFTs. We’re also a home for you.

NFT.com: Now Available in Public Beta

NFT.com is now available to the public in beta.

Immutable Holdings Founder and CEO, Jordan Fried

Jordan Fried

Feb 16th, 2023

Learn everything you need to know to start trading NFTs on OpenSea.

What Are NFT Royalties? A Guide to Decentralized Growth in 2023

Whate are NFT royalties? In 2023, the decentralized internet is opening new...

Author Image

Don Thibeau

Feb 14th, 2023

Learn the basics of how NFTs work

How Do NFTs Work? Learn the Basics - NFT.com

Clueless about how NFTs work? Keep reading! This article will explain the w...

Author Image

Don Thibeau

Feb 7th, 2023