Over the last few months, headlines have been flooded with talk of non-fungible tokens (NFTs). These cryptographic tokens represent ownership of unique items, such as music, art, gaming skins, and more. And the community of NFTs is booming. Just in the last 30 days, it’s estimated that an excess of $100 million worth of NFTs have been traded. This sector has experienced astronomical year-over-year growth of more than 300%, igniting a frenzy amongst collectors, creatives, and speculators — all looking to showcase their collections and talent.
While there are a plethora of profitable NFTs, Bored Ape Yacht Club (BAYC) NFTs — colloquially called Bord Ape NFTs— are among the hottest. For perspective, the ApeCoin, a cryptocurrency that was “airdropped” for free to all owners of the Bored Ape NFT, skyrocketed by as much as 90% in just its second day of trading.
As the field continues to evolve, James Khuri remains at the forefront of NFTs. James Khuri is a successful entrepreneur who boasts experience in real estate and manufacturing. However, his main interest has always been in the trading of popular cards, including Magic the Gathering, Pokemon, Yu-Gi-Oh, and more. In fact, Khuri has become Amazon’s primary trading card distributor and Hasbro & Mattel merchandiser for more than 136 countries. As such, it was natural for James Khuri to foray into and master the world of NFTs. Recently, James offered new and experienced investors three key tips they should know about investing in NFTs.
James Khuri begins, “Whether it’s a stock, cryptocurrency, venture capitalism, or the line at that grocery store, the trick is always to get in early.” While timing the market on anything can be a challenge, one tip Khuri stands by is for investors to find NFTs that are of genuine interest. Khuri continues, “Get started by asking yourself if the NFT interests you.” This simple strategy can prevent an investor from selecting NFTs based on the latest fads and hype, which often results in poor timing and poorer decision-making.
Another tip Khuri suggests every NFT investor should know is to get connected with the community. He explains, ” Getting connected with a good NFT community can help a project thrive. As an investor, it’s best to observe a project’s community, which can be critical in determining whether one NFT is right for you or not.” And to stay up to date on the latest offerings, Khuri suggests using NFT Guide’s calendar that includes all upcoming projects that investors may be able to get in on early.
Finding the next hot NFT can be like finding the golden ticket in Willy Wonka’s Chocolate Factory. But it doesn’t have to be. In addition to communities, Khuri rattles off a number of tools designed to help investors find the best NFTs. James Khuri continues, “Some of the top tools available today are Rarity.tools, OpenSea, Nansen, CryptoSlam, and more.” Most of the previously mentioned tools allow investors to sort NFTs by volume in ETH, average price, and by the collections available on the market. While each tool has unique benefits — such as Rarity, which designates each NFT a rarity score — they can all be used in concert to help investors make smarter, more informed decisions to ultimately win at the NFT game.