Do you want to make money with NFTs?
What if I told you there are special tools on the web that can make your NFT experience a million times easier?
The NFT tools listed in this blog post are my favorite tools on the web to discover new NFTs and find all the data I need to make informed buying decisions when playing in the crypto and Web 3.0 space.
Now that I've had time to experiment with different tools on the web that are supposed to help you find explicit data and help you with NFTs, I learned which NFT tools are worth it and the ones that aren't so great.
Here's a list of the top seven NFT tools I can't live without.
7 best NFT tools to make money with NFTs (non-fungible tokens):
In this blog post, you will find the top nft websites that offer tools to help you make informed traded decisions, easily view nft activity and analytics all in one place, expose pain points in NFT collections, find top trending NFT collections with the most active Twitter communities, view creator fees, and royalties.
Before we dive into the best tools to make money with nfts (non-fungible tokens), let's quickly review some NFT fundamentals.
NFT 101: What is an NFT? What are Non-Fungible Tokens?
If you're new to nfts, you might wonder what NFT stands for.
NFT stands for "non-fungible token."
But, what is a non-fungible token?
An NFT or non-fungible token is a unique digital item stored on a blockchain.
NFTs can represent almost anything and show a digital record of ownership for unique items like 2D or 3D digital artwork, virtual worlds, audio files, collectibles, domain names, event tickets, videos, games, digital music tracks, tweets, and profile pictures (PFPs).
For many people on the internet, PFPs become their online identity.
Related: What are NFTs, and how do NFTs work?
You may be familiar with mainstream NFT projects like Bored Ape Yacht Club (BAYC), Doodles, CryptoPunks, or our NFT collection Giraffe Tower, and see creators, influencers, and celebrities who wear their NFTs as their profile pictures (PFPs) on social media platforms like Twitter and Instagram.
One of the coolest things about non-fungible tokens (NFTs) is the transparency of the blockchain.
Non-fungible tokens (NFTs), allow you to see the entire history of an item, all the past owners, and every sale on the blockchain.
When someone creates, buys, sells, or does anything with an NFT, that all gets recorded on the blockchain. This helps ensure ownership and authenticity of the NFT can be verified and tracked.
Remember, you must truly understand what NFTs are and how NFTs work before investing in an NFT or NFT collection.
Your risk tolerance is based on your buying preferences and how much you can afford to lose.
7 Best NFT Tools To Make Money Flipping NFTs
If you want to make money with NFTs (non-fungible tokens), these NFT tools are worth checking out.
Continue reading to learn the top NFT tools to find NFTs, buy NFTs, list NFTs, flip NFTs, and sell NFTs (non-fungible tokens).
Opensea is the world’s first and largest digital marketplace to buy, sell, and discover crypto collectibles and non-fungible tokens (NFTs).
OpenSea was founded in 2017 after the founders got excited about some early NFT projects called Cryptokitties, so they created an entire NFT marketplace.
Opensea, the most popular nft marketplace, has an in-depth learning center to help newcomers learn about nfts and blockchain technology.
You can find various blog topics on their website, like what an NFT is, what NFTs are used for, how NFTs work, fungible vs. non-fungible, and the impact of NFT technology.
If you'd like to learn more about how opensea started and where the nft marketplace is headed next, watch the short video below.
2. Magic Eden
Magic Eden is a solid core secondary NFT marketplace for creators.
The popular NFT marketplace has over 22 million unique monthly visitors, +8,000 nft collections, 1.9 million in secondary trading volume, and over 100,000 daily wallet connections.
Magic Eden offers creators the greatest liquidity, as it holds over 90% market share for secondary trading volume on certain Blockchains and a majority share on others.
More than 90% of all NFT gaming secondary trading volume occurs on Magic Eden.
While Magic Eden is all about making money with NFTs, they still put up a major Safety Note when users decide if they should invest in NFTs.
If you think Magic Eden is interesting, check out the quick how-to videos to learn 'how to buy an NFT on Magic Eden' and 'how to list your NFT collection on Magic Eden'.
In the video below, Magic Eden takes you through their Creator Portal, where NFT creators can submit their NFT collections for listing on Magic Eden.
Gem is considered the best NFT aggregator for Degens, flippers, and sweepers.
Gem aggregates other web3 marketplaces to help users discover NFTs available on public blockchains.
Blur allows you to sweep across multiple NFT marketplaces and easily view NFT analytics all in one place.
Blur.io is the faster NFT marketplace and the only NFT (non-fungible token) marketplace that lets you:
Sweep across multiple marketplaces
Snipe reveals faster than anywhere else
Manage your portfolio with advanced analytics
Sweep 10x faster with up to 17% less gas
CryptoSlam is the leading NFT aggregator that collects and analyzes data for millions of NFTs across 15+ Blockchains.
When using CryptoSlam, you can view:
Top fan tokens by sales volume
Top NFT collectible sales
NFT rankings by sales volume
Blockchains by NFT sales volume
Total global NFT sales volume and transactions
With Icy.tools you can rack NFTs across marketplaces and make informed trading decisions.
This NFT tool will be your bread and butter if you want to catch the latest NFT collection drops.
Use this tool to better understand the market and to always see what’s trending and what’s minting in real-time across marketplaces.
icy.tools allow you to better understand the market with their NFT drop calendar (super powerful feature), detailed charts, insights, custom watch lists, and wallet alerts that allow you to always see what's trending and minting in real-time across marketplaces.
The NFT drops calendar is an incredibly powerful tool, it lets you see upcoming drops and mints happening in the crypto space.
This is a great place for newbies to start and the place to go if you want to find new and trending NFT collections earlier than your competitors.
7. Nft Inspect
NFT Inspect is an NFT tool that helps you find top NFT collections and Twitter profiles ranked by the highest level of community support and engagement.
With NFT Inspect, you can see which NFT communities have the strongest social media presence and which NFT collections have the most active online communities.
Inspect is a useful Chrome Extension that automatically detects NFTs in your Twitter feed and helps you learn more about NFTs directly from your Twitter feed.
Other tools that may be useful for making money with NFTs include blockchain wallets like MetaMask or BitPay, which can be used to securely store and manage NFTs.
Related: Which is better? Custodial vs non-custodial crypto wallet
It's important NFT, and crypto enthusiasts understand the differences between using a custodial and non-custodial crypto wallet to ensure the best chance of success.
Anytime you are considering purchasing an NFT or joining a new NFT community, it's imperative to do your own research (DYOR).
Top Tips For Making Money With NFTs
If you're interested in learning how to make money by flipping NFTs, these are my top tips to help you gain the knowledge to make money with non-fungible tokens (NFTs).
Before you invest in an NFT collection and spend your money on any NFTs, it's important to figure out your gains goal.
This means you have to decide if the goal is to gain more USDC or USDT.
Are you an ETH (Ethereum) trader or an $US dollar trader? Do you want to focus on getting fiat gains or crypto gains?
It's also critical to look at key analytics when investing in a new NFT collection or before flipping an NFT.
Follow these NFT best practices and regularly check key analytics when researching non-fungible tokens (NFTs) to ensure the most success when trying to make money by flipping NFTs.
NFT Tips + Best Practices
Know how much you can afford to risk
- NEVER invest more than you can afford to lose
Chart your liquidity and track how much money you have
Have an entry point and exit point
Listen to data (listening is one of the best ways to learn about an NFT community or NFT project)
Set up alerts for wallet transactions, buys, mints, and sells
Learn how to identify pain points in an NFT collection
Check yourself and notice your patterns to build trust in yourself
Pay attention to the creator % fees (can help spot pump and dump nft collections)
Take note of the floor price
- Frequently check the nft drop calendar
Always check the activity tab--see how many NFTs have sold in the last 24 hours, 7 days, and over the entirety of the project.
Go to crypto Twitter, and listen to Twitter spaces, to help find the pulse of NFT communities
Don't hold too long
- DYOR (do your own research)
Look at other nft marketplaces besides Opensea
Check how many sales have occurred in the last 7 days
Look at the number of nft holders--see how many nfts each holder has
Check out the number of unique PFPs (profile pics) and tweets an nft collection has
Final Thoughts + Resources
Flipping NFTs can make you extra spending money, vacation money, or start a business money.
You May Also Like
- What is a non-fungible token (NFT)?