Web3 with Wolf — Issue #3: NFTs, What to Look For?

young crypto wolf
5 min readApr 25, 2022


Issue #3 NFTs and What to Look For: Non-fungible tokens (NFTs) have gone parabolic over the last year and a half. From art and music to frogs and toilet paper, some of these NFTs are selling like Dutch tulips!

Another Web3 Trend, or Hype?

Are NFTs worth the money or is it all hype? “ExPeRtS” believe it’s a bubble destined to pop like the dot-com phase. Others believe NFTs are here to stay and can change the investing game.

When you hear that 12-year-olds are making half a million dollars and it’s not coming from their lemonade stand. One starts to wonder about the potential of NFTs. Whether it’s creating, collecting or flipping jpegs most of the success is not determined by luck, but instead by calculated moves, doing some research, and being connected to the alpha. Let’s break it down!

Types of NFTs

OpenSea Collections

NFTs can be used to tokenize anything. The common use case today has been:

  • Digital Art
  • Music
  • Virtual Real Estate
  • Blockchain Domain Names
  • Subscription/Gate Communities
  • Gaming Assets

But how much should you pay for an NFT, or how much should you sell one for? There is no right or wrong answer here, but there are some things to keep in mind.

Evaluating and Collecting NFTs

Degen Toonz Listings

There are two main mental models when approaching NFTs. You are creative and are looking to experiment, so the price does not matter to you. Or you are a Degen looking to flip NFTs. If you’re a Degen you will want to be more cautious on what you buy and sell. If this is the case here are a couple of things to keep in mind:

  • Scarcity/Reputation = Low supply and acclaimed artist backing.
  • Floor Price
  • Volume
  • Holder/Transaction Activity

The things mentioned above can all be tracked online tools like OpenSea, Dune Analytics, and more. But what about the things that are intangible to measure like a community?

Not Just JPEGS!

NFT ownership is authenticated by what you can’t see. These unique digital assets are built by using the blockchain and cannot be duplicated. It’s the backend technology that makes NFTs just that much cooler. NFTs are also a transformational tool that will fundamentally change how we do business going forward.

The biggest untapped potential for NFTs and Web3 is the ability to build and cultivate an authentic community that thrives at the intersection of the meta and physical worlds. At their core, NFTs are about community and like-minded people.

Attaching tangible utilities to NFTs creates a deeper and richer community for people of common interests. By doing this NFTs essentially become the next generation membership cards. Community is the alpha.

My Experience

YCW’s Collection

Over the past couple of months, I have had some short-term success with my learnings. The most important thing I learned is if I don’t like it I won’t buy it no matter the flip. I only buy NFTs I like because if it goes to zero at least I am stuck with something I like. One of my favorite attributes of the NFT space, is you do not have to be early. There are opportunities around the corner.

Depending on whether I am feeling like a creative or a Degen will determine what I am looking for. I start by scrolling through OpenSea and searching through what others are buying. If I see something I like I begin to do research. Questions I ask myself are:

  • When was mint, and what cost of mint?
  • How is the community?
  • Is there any utility?

Most of the time I found myself buying off the secondary market vs minting. I try to avoid paying high gas fees unless needed. This has allowed me to have some extra liquidity in my portfolio for any unexpected plays. I have also noticed most that when there is a new mint we see paper hands mint and list below the minting price. These are opportunities I like to capitalize on.

When it comes to finding new projects that have not been released, I have learned the best place to find this information is inside the Discord. This is what I mean by community is alpha. When you find a group of like-minded individuals, it becomes much easier to search for web3 opportunities. I will not say which communities provide the best alpha because everyone is looking for something different. It helps when you stick to buying what you like vs buying what others are buying.

As I dive deeper into my NFT career, I am beginning to look for NFTs that provide more utility for me in the Web3 space. Some things I am looking at are node protocols that allow you to auto-mint. This will allow me to reach more minting opportunities across the board without having to pay any crazy gas fees. If I had to summarize my experience into two words it would be patience and community.

Now What Anon?


Whether you are new to NFTs or have some experience in the game, I hope this sheds some new insight. NFTs have the potential to revolutionize how we interact and build communities. Leveraging the NFT technology allows these digital assets to impact the real world and change lives.

The best part? This is still only the beginning, Web3 and NFTs are just getting started!

Thanks For Reading!

Young Crypto Wolf


Look out for next week’s issue, where I look to break down nodes.

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