Non-Fungible Tokens have exploded onto the scene over the last few weeks and the hype doesn't look like it's going to fade any time soon. At the moment, it's still very early to be getting involved, however it is fast becoming popularised. With many young adults (a common demographic of NFTs) getting $1400 checks over the next couple of weeks, it's likely to be much better to be getting involved sooner rather than later.
FYI, here's a handy list of the main NFT coins available at the moment:
https://coinmarketcap.com/nfts/I've been researching NFTs with all my spare time over the last 10 days and what I initially noticed from this list was that at the time, they had gone up on average about 60-70% over the last 7 days.
I also noticed that many of the NFTs that were pumping particularly hard were available on Binance. I assume this comes down to the volume that comes with Binance but may also have something to do with BNB.
Not wanting to miss out on this new fad, my initial strategy was to just FOMO into every coin that I could find available on Binance and spread the risk across them all. This actually turned out to be a quite a good strategy as my portfolio kept on rising whist I was researching which coins I wanted to hold long term.
Just for your information, the NFT coins I've found available on Binance so far are:
Dego, Theta, CHZ, ENJ, MANA, CHR, OGN, SAND, AXS, COCOS.
I started my own Telegram group and signed up to a couple of other Telegram groups to do some more research on the subject and there's a few options that I have seen being recommended frequently by people who understand the space better than I do.
MANA - MANA is based on a popular game called Decentraland. People can buy land and various items using the cryptocurrency. Mana is my largest holding and is currently up 46% over the last 4 hours and 159% for the week. It went parabolic earlier and has now pulled back to $0.91 at the time of writing. I'm expecting that $0.91 will look like a very cheap price next week.
https://coinmarketcap.com/currencies/decentraland/https://coinpaper.io/coin/mana-decentralandhttps://www.youtube.com/watch?v=v26yQGTyccoChiliz (CHZ) - This is a football (Soccer) related cryptocurrency that allows fans of their favourite teams to buy tokens of their own club that give them certain benefits such as an ability to vote on certain decisions. Juventus were the first to sign up with Chiliz but many other major clubs have followed including Barcelona, PSG, AC Milan and more. Chiliz has pumped from $0.27 to $0.85 over the last few days, however has now pulled back and is currently trading at $0.61. If you're quick this could be a good time to invest before it pumps again.
https://coinmarketcap.com/currencies/chiliz/https://www.youtube.com/watch?v=wygzmKe937wOmi ecomi (OMI) - This is the cryptocurrency used by the creators of the digital asset trading platform VeVe. VeVe is a marketplace for buying and selling NFTs, a craze which looks like it could grow very fast in 2021. OMI is the cryptocurrency that people on VeVe use to buy gems which they can trade for NFT tokens such as Batman, Harley Quinn, Ghostbusters and various others. It's not available on Binance, Bitmax and Bitforex are currently the most popular exchanges for this coin.
https://coinmarketcap.com/currencies/ecomi/https://www.youtube.com/watch?v=wygzmKe937wA couple of others that you might want to look into.
Enjin (ENJ) - This coin is used by the gaming industry to allow gamers to buy in game items.
Sandbox (SAND) - I'll be honest, I haven't had time to research into this one, however I'm seeing it being highly recommended by people who understand the NFT world a lot better than I do.
If you want to learn more about NFTs feel free to check out my Telegram group for NFT crypto investing
https://t.me/joinchat/V5nNVoIR7qZkY2Y8If you want to learn even more, the guy who runs this Telegram group (Carlton) is a really nice guy and puts out some excellent Technical Analysis on various coins a regular basis.
https://t.me/cryptoprocarltonPlease bear in mind that these NFTs are volatile, if you buy in when it's pumping then you are liable to lose a lot of money very quickly. Instead, a good strategy is to look for the ones that have already had a correction after a pump and have been consolidating for a while.
I was hoping to get some feedback on which are your favourite coins and why you like them?
