How do NFT experts make thousands by flipping NFTs

Have you ever wondered how NFT experts earn thousands flipping NFTs in minutes? These experts have found a simple way to get their hands on the most expensive NFTs at a lower price. The secret lies in understanding the project and using Opensea screens right.

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Jay Crypto

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Last updated Jul 27, 2022 at 6:59 PM

Posted Jul 24, 2022 at 4:00 AM

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NFTs are a $41 billion industry that recorded a $21 billion trading volume in 2021 alone. NFTs guarantee proof of ownership to digital files on blockchain in such a way that a specific file belongs to you and only you. An NFT can be anything – an audio file, image, video, or GIF. 

Flipping NFTs means spotting the NFT project that has the potential to grow, buying it cheap, and then selling the NFTs at the market price or higher.  Sometimes secondary sales that include minting and then selling are also termed Flipping NFTs – loosely,  “buying low and selling high.” The trick is in understanding the potential of the overall project and then getting your hands on NFTs that have rare traits.

How to master Flipping NFTs

A step-by-step guide to making  profits from flipping.

Getting to know the project:

When buying an NFT project you must consider that only 8% of people make a profit and 92% lose everything or end up selling low. If you want to be among that 8%, then you’ll have to see what other people overlook.   Knowing the project is the first thing. Though flipping means making profits as quickly as you can, you might have to hold the NFTs for a while, so check whether the project is driven by real utility or just by hype.

The most important thing is understanding the NFT’s traits. Every NFT has several traits:  an NFT project of Apes might include Apes wearing jackets or having laser eyes. Some traits are rarer than others. Open any NFT from the collection you’re looking at. From the left tab, you can check the traits of  that specific NFT. An NFT from Invisible Friends with traits is shown in the image below. Opensea shows the traits of the NFTs with the percentage of rarity. 

The NFT below  has maroon shoes, a trait shared by just 2% of NFTs. So among a collection of 5000 NFTs, only 100 NFTs will have this kind or color of shoes. This makes this NFT rare and hence more valuable. To make a profit, NFT traders find NFTs that have rare traits like this but are selling cheaper than the market price.

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NFT with Traits

  1.  Live Listings:

Not every NFT owner understands the traits and values of the NFT. If you can check NFTs as soon as they are listed, you could be the one buying them. To track activity, many traders use the Opensea screens, but very few traders know how to use them correctly.

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From the project dashboard on Opensea, click on the Activity button to view the activity of the NFT project. Uncheck the “Sales'' and check the “Listings” box. Now you can view all the NFTs of the collection dropping for sales in real-time. Your edge here is that you’re looking at these NFTs before most others. You can check if any of these newly dropped NFTs suit you and buy it. 

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  1. Relist for Profit:

Once you’ve managed to buy a high-value NFT at a lower price, you can relist it at the market price to earn a profit. 

A quick recap: Flipping NFTs

  • Understand the project and get familiar with its traits
  • Filter live listings to check the most recent listings
  • Buy the NFT near to floor price
  • Relist for profit

Buying an outdated blue-chip NFT or buying in the middle of the pump doesn’t work anymore. Most NFT projects last only a few days, so if you have bought an NFT for the purpose of flipping it, it won’t be the best practice to hold it long unless you believe in the project. 

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