Find The Right Project
Last updated
Last updated
Now it's time to find a project that interests you, one that is worthy of your hard-earned ADA. Drop calendar sites are the perfect place to start as they feature up-and-coming mints of projects with important information that you can use in the research phase of your investing journey.
Ideally, it is best to select projects with art that resonates with you because there is always the risk that it won’t do well. If for some reason it doesn’t take off, at least you’ll have an NFT you enjoy looking at. Not all drop calendar sites are created equal, so decide for yourself with our head-to-head comparison of top drop calendar sites on Cardano.
Once you’ve established the project is real and you’re confident in the development team’s ability to deliver on the roadmap, make sure you check the announcements in Discord for the minting time and date as well as other instructions like where the mint will be held. Sometimes the website is used, other times an address is posted in the Discord announcements channel. There might also be a restriction, for very popular projects, on how many NFTs you can buy per transaction in order to ensure that most people get at least one.
Now that you've read the guidelines in the announcements channel, it’s time to load up your wallet with ADA and get ready for the mint.
1. Do your own research (DYOR) by following the project on Twitter and Discord. Check how often the creators tweet and post announcements on Discord. They not only need to be interacting with their community often but there also needs to be a good reaction from the community to every bit of news that is shared. The energy, especially within the Discord chat channel, needs to be positive and uplifting. The most damning thing for an NFT project is members ‘FUDDING’ in the chat. FUD stands for fear, uncertainty, and doubt and is . 2. Ask questions about the project in Discord. You are doing all this due diligence to avoid the infamous "rug pull," which occurs when someone starts a project and then abruptly abandons it once they’ve made a fortune from the mint. Be sure to engage in the general chat channel to find out more about the project specifics, what the NFT's utility is (if anything) and gauge what the general sentiment of the community is. 3. Visit the project website to learn about the creators. Are they doxed? Meaning, can you see who these people really are? Do they have their own Twitter following? Have they launched projects before? If they are just a bunch of faceless avatars you should immediately be wary.
