NFT Tools For The NFT Trader

Trading Non Fungible Tokens (NFTs) has become a lucrative market for investors seeking out new fortunes. The NFT Market has taken the world by storm and some investors that invested in platforms like Bored Ape Yacht Club have made hundreds of thousands of dollars trading their unique pieces of digital art. Whenever you purchase a collectible you also gain entrance to the digital world belonging to the Bored Ape Yacht Club community.

Experienced NFT traders know that if they have access to pertinent information about NFTs, before the general public, they will have an advantage that could lead to successful trades. The professional analysts and traders on wall street have access to news and trading data before the general public through various services. For those wishing to take a professional and disciplined approach to trading NFTs, they will need similar data in the most timely fashion as well.

When new markets present themselves. New markets that require a new stream of data for success. Traders will aggressively seek these sources of data. There is a specific amount of time where they will have an advantage before the remaining NFT trading community gets a hold of the same stream of data. It could be seconds, minutes, days, weeks, or years, but the advantage will be lost at some point.

In turn entrepreneurs that have studied the fortune dynasties of the oil tycoon Rockefellers and the diamond mining De Beers know that the guys that sold the shovels made more than the prospectors. So there will be an ever evolving race to develop and provide these services to the investors and traders. These new NFT tools come in the form of focused dApps tailor made for the new and booming NFT industry.

There are tools that need to be in your NFT toolkit for added advantages when trading NFTs. We discussed a blockchain analysis tool in a previous article and the advantages it brings. To be effectively active in the NFT marketplace, traders need to know when new products and collectibles are being made available. There are a few tools that can accomplish this.

The informed NFT trader is a happy NFT Trader.

Many times when a new NFT comes to market the information will be shared on Twitter. This is because Twitter has established their platform as an information portal for upcoming and active NFTs. What needs to be monitored on Twitter is the ‘following’ engagements. A new NFT platform account will aggressively follow NFT accounts to give the most visibility possible for their upcoming NFT drop. By monitoring the ‘following’ activity you can glean information about new drops. The NFT marketer will post his future drop on his new found friends on Twitter. Because you are actively monitoring engagements on twitter there is a very good chance you will see ‘Tweets” about NFT drop information as soon as it is made public. A true advantage as discussed earlier. The ability to receive information before the general public is key.

Tools that give you access to the ‘following’ engagement on Twitter are called “follower trackers”  When an NFT creator is about to market his new NFT, most times they will set up an account on Twitter and then tell their colleagues about it. An astute NFT trader wants to be directly involved with this type of information on Twitter. One follower tracker tool that makes this information available is called “WhoTwi.” WhoTwi gives you instant notifications when accounts are being followed on the Twitter network. Through the settings you can narrow it down to the NFT space. This is where the interest lies for NFT traders looking for new products coming to market. This tool helps an NFT trader focus on what key players in the NFT space are paying attention to. It’s free and provides useful insights.

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