5 warning signs teach you how to identify dying NFT projects

Odaily资深作者

2022-02-22 03:59

This article is about 1268 words, reading the full article takes about 2 minutes

How can new buyers avoid pitfalls? Here are 5 warning signs to watch out for.

This article comes from the WeChat public account Laoyapi (id: laoyapi).

With the rise of NFTs in the past year, there are many new buyers that may fall into the trap. Here are 5 warning signs to watch out for (from personal experience) that might tell you that an NFT project is dying.

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1. Sudden change of plans"sold out！"If you haven't had a good rest for several days and nights for the liver whitelist, you are casting NFTs in the hot market. Now that the public sale has begun, you eagerly await the inevitable announcement:"

Alarm bells should start ringing when the development team suddenly deviates from the roadmap they have laid out. The direction of the project is different than initially stated.

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2. Floor prices keep falling

Everyone with a new NFT project hopes it can emulate this success. However, it usually doesn't do this. When the bottom price stays at the same level as the original mint price, no uptrend is in sight, or worse starts falling below the launch price, the warning signs start to appear, there will always be speculators or those looking for a quick profit on their NFT Make hundreds of dollars online. The steady and gradual decline of the reserve price is an indicator that the enthusiasm for the project has died down. Holders get nervous once the initial hype and fomo wears off. If the floor price gradually declines, and there are no new buyers coming in, and there is no turnover rate, then there is a big problem with the liquidity of this project.

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3. The decline of social media

A project but if a few weeks pass without important or any new posts, then the death knell is sounded. An inactive team may indicate that the creator has left, and you can only hold a depreciating asset.

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4. Roadmap delays, broken promises and silence

The bigger problem is if the team promises a new or revised roadmap, but keeps getting delays and excuses. If you notice that developers or mods are mostly silent or off the discussion boards right now, and the promised updates never show up, then the project is most likely dead, unfortunately.