The NFT market is a tough nut to crack. But when you win, you typically win big. Some of the best returns in the sector have been via newer projects, such as Bored Apes and Cool Cats. Older collections like ArtBlocks’ Squiggles, however, have also performed very well, with a 100x return YTD, as measured by the average price of secondary market sales.
Finding the NFT project that’s going to catch collectors’ eyes is a task and a half. But considering base prices tend to be low at inception, the ability to roughly identify what makes a winning collectible, coupled with the “spray and pray” approach, can prove fruitful for the skilled and / or lucky. With that said, it’s prudent that you proceed with caution. Many NFTs may not have staying power and they can suffer from a lack of liquidity given their non-fungible nature.