Last December, Chanalysis published a report on the NFT market with some pretty insightful and actionable data. The TL;DR is being an insider pays off when it comes to making money flipping NFTs. 

Early investors who sold newly-minted NFTs profited 75.7% of the time, versus 20.8% for those who were not. Moreover, 78% of sales by early buyers were profitable, with 51% resulting in a profit of 2x or more. 

On the other hand, 78% of the sales by those who bought on secondary markets were unprofitable, with 59% leading to a loss of 50% or more.

Unfortunately, there’s no other way of being early than keeping your ear close to the ground. Joining Discords and doing whatever it takes to meet their specific criteria for getting early access.

Admittedly, this is easier said than done. While most of it boils down to hard manual labor (beats working in a coal mine, though), there are some free online tools you can leverage to make your job easier.

Number one is Twitter. Relax—I get it. It’s not a “tool” and I’m not making your life any easier, but facts have to be faced. Twitter is the best way to find new NFT projects. 

Follow all the hexagons, make a dedicated and well-curated list of all the high-signal NFT insiders or influencers you can find, and scroll your feed regularly. When something catches your eye, save it, dig in, and start thinking about ways you can leverage your time advantage. Also, the notification button is your friend–just use it wisely and don’t drown yourself in noise.

Fair. If you don’t dream of labor and want to see an aggregate list of upcoming NFT collections, use nftscoring.com. Click on the “Drops” tab in the top corner, and you’ll land on a well-curated page of upcoming NFTs drops filled with some useful metrics.

By using this tool, you can filter upcoming projects based on their Twitter followers and Discord members, mint price, community score, and so on. You can also easily keep track of the sale dates, which should help you schedule and not miss the minting. 

It’s a great site to gauge the sentiment behind different upcoming NFTs and see which ones are hyped vs. which ones are not. Once a project ticks all the necessary boxes, you can simply put its minting date on your calendar.

Another tool you can use to identify hot upcoming NFT projects is whatsminting.live. This is a website that scans the Ethereum blockchain for NFT mints and organizes them by transaction volume. 

You can use it to see what other collectors have been minting over the last one or six hours and how much they’ve been spending on gas fees and the NFTs themselves. It’s a way to discover what’s popping right now. It doesn’t tell you why or whether you should invest, so you must still do your own research.

When it comes to buying NFTs on a secondary market, you’ll want to have a good sense of a collection’s historic floor price, current transaction volume, the number of holders, their behavior, and so on.

For that, you can use flips.finance. It enables you to see the number of NFTs listed for sale, and the average time collectors have held items in a collection. This gives you the “circulating vs. staked supply” of an NFT collection and tells you how diamond-handed its collectors are.

Now that you have all that info and have a good sense of the current fair value for different collections, maybe you want to snipe some unintentionally undervalued NFTs. The best tool for that is sunspot.gg, which lets you create alerts for undervalued listings.

Suppose you want to snipe a BAYC NFT. Looking at flips.finance, you can see that the current floor price is around 100 ETH and is on an uptrend. Using sunspot.gg, you can set up a custom alert that will notify you when someone lists a BAYC NFT for sale below whatever arbitrary price you want.

For example, set up an alert for BAYC NFT listings below 80 ETH and then be the first to snipe them significantly below their fair value. 

Moreover, you can use sunspot to filter for NFTs with different rarities based on their unique properties from specific collections. For example, if you’re keen on apes with safari hats and bored eyes on blue backgrounds, you can set alerts only for listings of apes containing those three properties.

Next, if you ever decide to go on a shopping spree, I recommend using genie.xyz to save on gas. It’s an NFT aggregator that lets you purchase multiple NFTs listed on OpenSea or Rarible in a single gas-optimized transaction. If you go on a selling spree, on the other hand, you can list genie.xyz’s listing feature to batch list multiple NFTs on multiple different marketplaces all at once.

With that, you’re pretty much set to snipe NFTs like a pro. Your scope is calibrated, wind direction and distance from target measured; all you got to do is pull the trigger.

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Our research team at SIMETRI is also constantly sharing alpha. So feel free to follow me: Stefan Stankovic, and my colleagues: Anton Tarasov, Sergey Yakovenko, and Nivesh Rustgi.