My Article series on NFTs This is a continuity of my post on NFTs of 09-04-2022. Today's topic is background check before investing in NFT 07-05-2022

image sources MY NFT COLLECTION

Good evening from here, it's me your fellow blogger on steemit, today I want to continue my NFT series. First article was on April 9th 2022. Stay calm and read. Before embarking on NFT project you must check the project if it is a real and has a solid indicator of increasing in value before buying them. Join communities where people discuss thier experience buying, holding, and selling different NFT.

Example of NFT communities are DISCORD, OPEN SEA, and TWEETER, this communities may be an of good assistant as you try to identify excellent NFT project.

On the 09-04-2022 I mentioned fractional NFT. Basically an NFT might be a development of group of people, and the success of the project is completely dependent on the determination of the group of developers the project. For this reason any NFT you want to buy follow creators social media platform to be sure that he or her have produce NFT before.

NOTE some times people creat fake social media accounts to scam to defraud investors, so when joining any account make sure there's a blue tick, which shows that the account is verified.

MY NFT PROJECT

Every outstanding NFT project has a road map studying the road plan will show you the goals and strategies of an an NFT project, for example the road map will show the brainstorming process, design process, and the branding and style of the NFT. The road map also include important milestone and how the team is set to meet them.

Finally before buying NFT you need to figure out your risk tolerance and how much you are willing to lose if it depreciates.

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