I looked into over 120 upcoming Solana NFT collections. In this video I discuss what I found: the good, the bad and the ugly.
First off, how did we get to this point in the Solana market? Well it was only one month ago that Solana NFTs were starting to catch people's attention, and the biggest problem people faced was a lack of supply, with collections like Aurory and Degen Ape Academy selling out in seconds. Well - safe to say that's not a problem anymore. The Solana NFT market is now worth more than $400 million, there are big institutional buyers coming in, and as a result Solana's price has doubled.
But now we're facing new problems. You see quality projects take time to develop, and top creators need time to react to new markets. While many good projects are in development, we're in a weird phase where the only projects that could've possibly even have been launched within this short period of time are copy cat projects and low effort pfp collections.
As you'll see, using tools like fiverr means that you can spin up a new collection in a matter of days for less than $5,000, and you barely have to sell even 0.5% of your collection to break even. This has resulted in a huge oversupply of junk, and as people are hungry for NFTs they might make a misstep and buy into (at best) bad projects or (at worst) full on scams that could drain your wallet.
I'm still bullish on Solana NFTs but in this video I explain why I'm barely buying anything on that chain right now, and if I DID I talk about which specific NFTs I'm considering.
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0:00 intro
0:38 how did we get here?
1:22 old problems and new problems
2:43 let's create a new NFT!
4:29 what if our NFT doesn't sell out?
5:42 Solana NFTs today vs Ethereum
6:53 the list of upcoming projects
7:22 my simple filter for new projects
8:53 IMPORTANT: applying this filter to Solana NFTs
10:11 something to keep in mind
11:06 SCAM NFTs all around us
11:40 am I buying anything? (Rogue Sharks analysis)
12:23 NFTs that pass the filter (one is free!)
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