How to Find Solana NFT Projects

18 Jan 2024 by Syed Waleed 7 min read

Solana (SOL) has become a top choice for non-fungible token (NFT) activities in the Web3 space, mainly due to the network’s low fees and fast transactions. Now seen as a strong rival to Ethereum (ETH), how to find Solana NFT projects is a worthwhile question to explore…which is exactly what this article will be doing.

TABLE OF CONTENTS

An Introduction to Solana NFT Marketplaces

What are NFT Whitelists?

How to Find Solana NFT Projects - Getting Started

- Wallets

- Price Trackers

- Solana NFT Aggregators

How to Find Solana NFT Projects

- NFT Marketplaces

- Social Media and Communities

- NFT Aggregator Platforms

- Solana Explorer

- Floor Price Analysis

- Research Project Teams

How to Find Solana NFT Projects - Conclusion

How to Find Solana NFT Projects - FAQ

An Introduction to Solana NFT Marketplaces

To engage in the Solana NFT marketplace, having SOL tokens is essential. Given the substantial rise and increased value of SOL, it's crucial to stay updated on the current location and value of the Solana token at any given time.

When you check out the Solana NFT marketplace at solanart.io, you'll find lots of different NFT collections…like hundreds of them! The platform also has videos explaining the basics, like how to start and connect your wallet.

But the tricky part is figuring out which Solana NFT projects host exciting potential in the long run, whether you're looking to eventually sell or hold them.

A first step you can take in discovering Solana NFT projects is to navigate to the Stats section in the Solana marketplace - as here you can access valuable information, such as the trade activity of each project (over the last 7 days or 24 hours for example).

This data provides insights into the floor price of a project, which is the minimum price of an asset within the collection. This approach is instrumental in understanding how to find Solana NFT projects that align with your preferences and investment goals.

Although it might seem like there's abundant information, the statistics provided on the website are still insufficient for forming a definitive conclusion on the optimal Solana NFT project for investment.

What are NFT Whitelists?

Let’s explore NFT whitelists, which are basically lists of wallet addresses.

People on these lists get special (i.e. early) access to an NFT collection before it officially launches. NFT projects usually have a set number of pieces in their collections, and whitelists are given to active community members as a way to reward them for their early involvement.

Being on the whitelist means you're guaranteed to get a piece from the collection without competing with everyone else on the launch day. Plus, there are often extra perks like getting the items at a lower price.

How to Find Solana NFT Projects - Getting Started

Prior to delving into Solana NFT trading, familiarize yourself with the essential tools required for the process.

Wallets

To trade Solana NFTs, get a wallet from the various options in the Solana ecosystem.

Since the inception of Solana NFTs in 2021, Phantom has consistently been the preferred wallet for those entering the trading scene, thanks to its user-friendly interface. Alternatives such as Slope and Solfare are also worth exploring.

These non-custodial software wallets are convenient for everyday use and trading, though for enhanced security, you might want to store your long-term holdings in a cold wallet.

Price Trackers

Price trackers are must-have tools, as they help traders decide when to start or finish a trade. For example, when a new NFT project begins, price trackers tell potential buyers if the current price is good for joining in.

They do this by looking at things like listing count and trading volume, which can help maximize earnings. For people creating new NFTs, price trackers are handy to predict when the lowest price for the NFT will be the highest. This way, they can make the most money possible.

Solsniper is more than just a regular price tracker. It comes with a built-in sniper, which is like a smart program that instantly buys a specific NFT when it goes up for sale, or when it reaches a particular price you set.

Such tool is handy for experienced crypto traders who use technical analysis because it lets them use common indicators like Bollinger Bands to trade NFTs - similar to how regular cryptocurrencies can be traded.

Solana NFT Aggregators

If you're into trading NFTs, it's important to know the best places to buy and sell them at good rates.

You can think of market aggregators like Tensor as one-stop shops that gather NFT listings from different marketplaces, including listings from the apex Solana NFT marketplace Magic Eden.

These platforms make it easier for NFT traders to find what they're looking for, and are often the go-to places for good deals.

The NFT community is increasingly embracing Tensor, and a big reason for this is its remarkably fast transaction speeds. Additionally, Tensor goes a step further by integrating with TradingView, making it both a marketplace and handy price tracker.

Moreover, it features a rewards system that encourages users to engage in trading activities on its platform.

Some NFT marketplaces, like Hadeswap, operate as automated market makers (AMMs), allowing users to trade NFTs using liquidity pools - a method similar to trading cryptocurrencies on platforms like Uniswap. These marketplaces enable the creation of buying and selling pools, providing an advanced trading option.

How to Find Solana NFT Projects

To discover promising Solana NFT projects, adopt the following strategies:

NFT Marketplaces

Explore popular Solana NFT marketplaces like Solanart, Magic Eden, and Digital Eyes. These platforms showcase a variety of projects, and you can filter by trending, newly listed, or high trading volume.

Social Media and Communities

Follow Solana-based NFT projects on Twitter, Discord, and other social platforms. Many projects regularly update their communities about upcoming drops, partnerships, and developments. Joining these communities allows you to stay informed and engage with the creators and fellow enthusiasts.

NFT Aggregator Platforms

Utilize NFT aggregator platforms like Candy Machine, which curate and display various Solana NFT projects. These platforms provide a consolidated view, making it easier to explore multiple projects at once.

Solana Explorer

Use Solana Explorer to check the transaction history and activities of NFT projects. By analyzing on-chain data, you can gain insights into the project's popularity, trading volume, and overall community engagement.

Floor Price Analysis

Monitor the floor prices of NFT collections over time. A rising floor price often indicates growing interest and value. Conversely, a declining floor price may signal challenges or decreased demand. For example, observe the historical floor prices of collections like Degenerate Ape Academy to understand their performance.

Research Project Teams

Investigate the teams behind Solana NFT projects. A strong and reputable team adds credibility to the project. Check their experience, past achievements, and involvement in the NFT space.

Remember, due diligence is crucial in the volatile world of NFTs. Stay informed, engage with the community, and assess the potential of projects based on their utility, creativity, community support, and of course, how much you personally like them!

How to Find Solana NFT Projects - Conclusion

Beyond trading, the Solana NFT arena provides numerous avenues for earning revenue, such as utilizing bots for popular mints. If you're acquainted with sneaker botting, investing in leading Solana minting bots enables you to secure NFTs from highly anticipated projects during their public sales.

However, this involves the additional task of setting up virtual servers and nodes to support the infrastructure necessary for efficient botting. If you're curious about how to find Solana NFT projects, exploring these bot-driven opportunities can be one strategy.

How to Find Solana NFT Projects - FAQ

How do I find a new NFT project?

Exploring NFT platforms provides a trustworthy avenue to discover promising upcoming projects. Within digital marketplaces such as OpenSea, Rarible, SuperRare, Larva Labs, Mintable, and Nifty Gateway, artists and creators unveil their finest NFT projects, creating a diverse landscape for exploration and investment.

How much does it cost to launch an NFT project on Solana?

Creating NFTs on Solana involves factors such as token quantity, project complexity, and the chosen Token Development Company. The cost is approximately $90 USD, making Solana the most economical choice among different blockchain networks.

Does Solana have an NFT marketplace?

Tensor, a recently launched NFT trading platform earlier this year, has claimed the top position in Solana's NFT marketplace, surpassing Magic Eden in trading volume on the network.

How much money do I need to make an NFT project?

Creating an NFT comes with a cost ranging from $0.01 to several thousand dollars, contingent on factors like the technology employed, minting fees, and other associated costs. Typically, the primary expense revolves around the utilization of blockchain technology.

Is creating your own NFT profitable?

Make money with NFTs by crafting and selling your unique creations. As an artist or content creator, tokenize your work for profit. It's easy to get started – choose your art medium.

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