Community Responses : How do You Choose Your Next NFT?

A Reddit user asked the community what they were looking for when looking for the next NFTs to add to their collection as base prices are lower (NFTs), so this might be a good time to buy.

In a subreddit, the Redditor received a variety of responses from the community, including examining the benefits of tokens, finding exaggerated projects with low mintage fees, and monitoring data collected by oracles and basing their NFT investment strategy on what they saw.

Another user shared their short and long-term investment strategies. According to Redditor 4laman, their short-term strategy is to look for extravagant projects with low mint fees. In the long run, they look for projects with collaborations between major brands.

RELATED : NFTs Collections Will Be Regulated Like Cryptocurrencies Under EU’s MiCA Law, Official Says

Meanwhile, another NFT aggregator has proposed monitoring real-time NFT data collected and provided by oracles. According to traders, metrics on NFT data platforms can help collectors choose how to choose their next NFT.

As traders look for their next NFT, Ethereum founder Vitalik Buterin proposed a “low-tech approach” to anonymizing NFT transactions. Buterin said smart contracts could add functionality that would allow senders to disclose their addresses only to the recipient of the transaction.

Meanwhile, NFT marketplace OpenSea has released an update to its policy against NFT theft. According to the company, it has expanded the use of police reports to verify the authenticity of stolen product reports, preventing abuse of reporting functions in the marketplace.

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