Navigating the NFT space.
My thoughts on how to best find your way around the NFT space.
Since entering the NFT space, I have learned a lot. From understanding how the platforms work to navigating the space more broadly and specifically where to turn my attention. This is key, especially with the limited time most of us have to spend in the metaverse on a daily basis. I have also found that networking is critical, and building meaningful relationships is crucial to learning and understanding the community better.
As we’re seeing with hundreds of new drops per week, the space moves extremely fast. New projects are introduced, and what was hot last month has just as quickly lost its shine, and new trends quickly emerge. In such a volatile environment it is easy to feel lost. My first few months in the NFT space have been an incredible adventure and I wanted to reflect on my observations so far, as well as how to best navigate the space!
Navigating the space
Instead of jumping in with no foundation, one should invest the time in observing and learning the space and engaging the community. This is how I entered the space, and it allowed me to build the foundations for understanding the community, who to follow, and where to engage. But, this takes time and it’s something you need to account for. I dedicated at least a month before I even understood the unique terminology and I am still learning! However, taking the time to learn, finding where you fit in, how you can add value, and building relationships are all crucial to entering the NFT space on the right foot. Below I have listed a number of ways to help you do so.
Map out the key players
It is crucial to follow the people who have firmly established themselves in the space as respectable and reputable names. Find out what they talk about, who they support, who they follow, and learn about their journey. More often than not you will figure out what the community consensus is once you have followed a number of the most reputable names.
An understanding of the space does not come instantly. Spending the time to research projects, people, marketplaces, collectors, news, and more is important. Always dig deep. If you are stuck, there is always someone in the community who will be willing to share their knowledge and help. But you need to put in the work first.
Bring your skills
There is the cliche that you come into the NFT space on a clean slate, although you have to learn the complexities of the tech, don’t forget that you can bring an array of experience with you. Share your skills and practice them daily. Center your activity in the space around what you’re passionate about and great at. In all likelihood, you will find a useful and productive middle ground between the two.
The community is incredible. There is a real sense of togetherness in the NFT space and networking is vital. You hear a lot of people say that they bet on the people, if you know the person and their intentions, it is likely that their pledge to deliver value will be fulfilled. In the case of anonymous teams, this reassurance is considerably less. The community is built by supporting each other. Reach out, build those relationships, and be kind. We are all learning.
Find your Niche
Take a moment to find out what you can bring to the space. Once you find that you can utilize a skill, share it with the community, and make something out of it. For me this was writing, even to this day I am learning and growing. But, it’s allowed me to add value in a way I only dreamt about.
Embrace the culture
The NFT community is unlike any other, it pushes the boundaries of web 3.0 while maintaining a relatively simple ethos, kindness. If you share the values of the community, share each other and relish the opportunity to get to know one another, you are embracing the culture, and this could even be done through a simple gm.
It is not enough to trust your instincts, supplement this by asking questions. If you are considering minting a project, find out who the devs are, who have they worked with previously, are they credible? Are they anon? If so, why? Who are the community, are they asking about the floor price, or are they genuinely interested in the vision of the project. You can even create a checklist and this should help you to narrow down your thoughts so you make better decisions.
The space is addictive, although can spend hours scrolling, there is a line that has to be drawn. It is important to maintain a balance between the digital world and the real world for the optimal enjoyment of the space. It is also important to learn when to take a break. Burnout is a real issue, and it is taking the NFT scene by storm, for many, this is an opportunity of a lifetime, and undoubtedly, we are doing the most to make it a reality. However, you should remember that we are still early, there are always going to be more opportunities when you return to your screen.
As well as gathering information from collectors, artists, and influencers, there are a number of other information sources that you can find in the NFT space to help you build your knowledge.
Zeneca is a writer in the NFT space who helps to explain the market, he discusses pertinent topics as well as providing helpful opinions and advice. He is widely known for his substack newsletter, his podcast, and his new NFT project. Zeneca is a fantastic educative tool and if you are looking to learn more about the NFT space he is certainly a good place to start.
@Punk6529 (Twitter threads)
Punk6529 is renowned in the space for his insightful threads, from beginner guides to the metaverse and web 3.0, he offers a source of knowledge that is crucial to understanding the space.
@Cryptogucci (Twitter threads)
CryptoGucci is a writer that is renowned for his weekly updates, in his threads he outlines the most important news of the week so that you will never miss it. Effectively, he is documenting the history of the space each week and this is an invaluable learning tool if you want to stay in the loop!
@Futureproof (Media Agency)
Futureproof media is a new source of information in the NFT space, comprised of some of the most innovative minds, and covering information across multiple mediums, they are a fantastic resource and help to educate new audiences.
@Decrypt (News source)
Decrypt is a reliable news source that covers everything from collections, news, coins, and beginner guides. If you want to take a deep dive into web 3.0 and stay up to date with the latest news, this is a valuable resource to have handy.
Since entering the space at the end of July, I have become enthralled by the space. In particular, the community, the friendships, and the drive to create. Each of these factors has inspired me, encouraged me to explore and find a purpose while being supported and uplifted by those around me at the same time. Even after 4 months in the space, I am learning every day.
For me, the NFT space has given me the opportunity to find my passion through writing, it has also allowed me to connect with like-minded individuals, and above all else, it has enabled me to create and foster a growing community.
No matter how fast the space moves, you are still early. Take your time to research, find your community and learn.