10 Great Ways to Make Money with NFTs with almost no Money

Everybody dreams of making big gains with NFT’s.

And while making big bank with NFT’s is certainly not an easy feat, it is certainly not impossible.

However, we are now in a bear market and opportunities are, therefore, rather scarce.

And on top of that, if you don’t have a lot of money to invest in NFT’s, this makes it even more difficult.

However, there are still a few good ways to make a decent profit with NFT’s, even if you have almost no money to invest.

In this article, you will learn everything there is to know to make the most out of your NFT purchases.

1. Find Free Mints

If you truly don’t have ANY money to invest in NFT’s, the best way to still make some bucks out of it is to search for free mints.

But how to find three mints?

There are 3 main platforms that you will need to monitor to find free mints:

1. Twitter
2. Discord
3. News Websites that inform about new Mints

Ok, let me say it: If you are serious about NFT’s, Twitter is an absolute must. Literally every NFT project has a Twitter profile these days and important news usually get announced on two platforms, Twitter and Discord.

Now, as far as free mints go, I highly recommend you to open up a Twitter profile (if you haven’t done so yet) and to follow important figures in the NFT game. That is big players and influencers in the game, as well as the official Twitter pages of NFT projects themselves.

Free mints often get announced on Twitter first. And they often get heavily promoted on Twitter through different influencers and that is why you will often find news about these mints on the Twitter profiles of important and big NFT influencers.

It goes without saying that free mints often don’t have the same potential as heavily funded NFT projects.

However, up to this day, it still happens that a free mint absolutely goes parabolic and 100xes in a short period of time.

For example, the SOL Collection Gothic Degens originally minted for 0.069 SOL (this is considered a free mint even if technically it is NOT 0.00…) and then went up to a FP of 20 SOL.

Even now, the FP is still around 14 and is likely to rise again. There are actually quite a lot of examples like this.

And these are obviously the kinds of projects you would want to get involved in…early and in a big way.

And as these mints are literally free, the risk is very limited as well.

With ETH-based NFT’s things are a bit different because gas fees are much higher.

Nobody is going to pay the gas fees for you, so a Free Mint on ETH usually just means that you will pay ONLY gas fees.

At times when gas is low, these fees are not that high, however, if you are coming from SOL or any other blockchain that has very low transaction fees, they are still ridiculously high (you are still likely to pay around 20 up to 100’s of dollars for free mints just to cover up for the gas fees…)

2. Get in Extremely Early

One big reason why a lot of NFT collectors don’t make tons of money with their NFT purchases is the fact that they are getting in too late.

The idea really is to buy into a collection BEFORE it pumps. This is obviously easier said than done but it is absolutely crucial to your sucess.

Newbies often buy into pumps, only to find themselves losing lots of money shortly afterwards.

Because remember: What goes up, must come down!

So, the idea here is that you do tons of research BEFOREHAND on new and upcoming mints, so that you can get into it before the big pump even happens.

That way, your risk of losing a lot of money is also very limited because buying very early usually means that you will spend much less.

Another great way to anticipate pumps is to use certain tools.

And this brings us to our next point. Please read on.

3. Use Different Tools to Help You Spot the Most Promising NFT Projects

There are great tools out there that will make sure you that you won’t miss the next 100x NFT.

Or well, let’s just say that they will increase your chances of not missing it.

At the end of the day, there are so many projects out there that it’s really difficult to keep track and to catch all the promising NFT projects.

But that’s fine. As long as you will catch SOME of the, you will just do fine.

So, could you please name these tools, then?

Sure. Let’s start with SOL-based NFT’s. Here’s a list for you with great websites & tools:

1. solsniper.xyz (this website is incredible and it is also free. Many comparable websites want money for the same type of info)
2. nftsoloist.ai (great tool, comparable with solsniper.xyz but costs 3 SOL per month)

For ETH-based NFT hunting, check:

1. nftnerds.ai (very comprehensive resource with invaluable insights and overview about the whole nft market)

4. Follow the Pro’s on Twitter

You don’t need to make all these calls by yourself. Why not trust established NFT influencers and experts on their calls and ape into some of the projects they are bullish on!

A great way to do so is to follow these experts on Twitter.

For SOL projects, I suggest you to follow @easyeatsbodega and for ETH projects, I suggest you to follow wappy.eth.

5. Participate in Twitter Giveaways, Raffles, etc.

A great way to get hold of some valuable NFT’s for free is to participate in so-called Twitter Giveaways. Many NFT influencers on Twitter are doing daily/weekly giveaways where you can win Free NFT’s and often also plain Crypto (be it ETH or SOL or other cryptocurrency).

Participating in these giveaways is usually free and, often, all you need to do to participate is to follow certain people on Twitter and tag a couple of friends.

While chances of winning these types of giveaways are obviously rather slim, when you do win, you can sometimes win big and there are obviously no risks in participating in most of these giveaways because they are usually free to join.

6. Secure OG Spots on Twitter for New NFT Collections

There are certain (unwritten) rules in the NFT game. One of these rules is that every NFT project usually has an official Twitter page and a Discord Server.

Joining the Discord server of an NFT project in the very early stages is often very beneficial because you are likely to secure an OG spot in the server.

What is an OG spot, though?

An OG spot with regards to NFT Discord Servers usually means that you will get whitelisted for the project. So, when it is time to mint the NFT, you will be among the first people to mint some of the NFT’s before the mint will be opened for public minting.

Also, having an OG Spot is usually better than just being on the whitelist for a project, because often the minting price for OG members is often lower than for other whitelisted members and in some cases you will also be able to mint more NFT’s than simple whitelisted members.

How to get OG status, though?

Well, in some cases, just being among the first people to join the Discord will be enough. In other cases, you might need to fulfill certain tasks first before actually getting OG status.

Sometimes, becoming an OG member of an NFT project is as simple as interacting with a tweet. So, on Twitter, you might see some NFT projects posting something like:

“First 500 people to interact with this tweet will get OG status for our NFT project XYZ.”

In this case, interacting with this tweet could be as simple as to LIKE the tweet or RETWEET it or to leave a COMMENT.

7. Become a Veteran in the Game of NFT’s

The more you trade NFT’s, the better your calls will be. It’s no rocket science, really. “Practice makes perfect” and this certainly also holds true for NFT’s!

The more you buy and sell NFT’s, the better you will understand the game.

Yes, you will definitely make mistakes but you will learn from them and not make them all over again.

I bought NFT’s too late. I bought NFT’s too early. I sold too late, I sold too early. I did every mistake that one could imagine but I got smarter with my calls over time.

The longer you are into this game, the easier everything will become and it will also get much easier for you to detect Rug Pulls and other scams.

Why?

Because lots of these scam projects have a lot in common, such as an un-doxxed team, no history on Twitter (or maybe just joined Twitter like 1 week ago), art that is not unique, no original ideas, followers that are not organic (you can often spot this by low engagement on social media posts, etc.) and so much more.

When you are starting out with NFT’s, it will be very dfificult for you to make good calls and to avoid these rug projects.

After some time, though, you will hardly ever get into rug pulls anymore because you will be alert and will recognize certain signals etc.

8. Scalp Trade NFT’s

Scalp Trading NFT’s sounds complicated but it’s actually pretty simple. At least as far as the concept goes.

The idea is that based on certain tools (such as nftnerds and/or nftsoloist.ai), you buy some NFT’s (usually rather high in quantity) and sell them shortly after.

Now, if Collection XYZ is at 0.2 ETH and you will sell when the floor price reaches 0.3 ETH, you are obviously not getting rich with that.

However, let’s imagine you are buying 10 of these and are then selling all 10 of these when it reaches a floor price of 0.3 ETH.

Instead of just making 0.1 ETH (well, a bit less because you have to factor in the gas fees as well, as well as royalties), you will make 1 ETH if you bought 10 and then sold 10 (minus the fees here as well, of course).

You surely get the idea.

That is essentially how scalp trading works.

But what are you basing your decisions on?

Well, as mentioned, you would use different tools and you would closely monitor the metrics in these tools, such as the current floor price, the amount of unique holders, amounts of NFT’s listed and many others.

Also, you would look out for other bullish indicators such as buys over floor price, maybe influencers with a huge reach posting about the project, and so on.

So, you are basically trying to anticipate the trend and then want to sell at the peak when the project is pumping (usually only considering a short time frame when scalp trading).

9. Join Discord NFT Alpha Groups

Yet another great way to make great calls and to spot promising NFT projects early on is to be part of Discord NFT Alpha Groups.

In simple terms, an Alpha group is simply a group of people that have a lot of knowledge about NFT’s that are willing to share this info with their group (members of a certain group).

Nowadays, many NFT projects have their own alpha group. And usually the alpha group is only reserved for holders of the project.

So, in order to join the alpha group of a certain project, it might be as simple as to buy 1 of their NFT’s to get access to it.

In other cases, the main utility of the NFT itself is being able to join an (established) alpha group.

There are many projects like that and, as mentioned, many projects offer an alpha group channel (usually on Discord), as soon as you become holder of that project.

If you are into ETH NFT’s, I am suggesting you to check out the Nifty Portal.

10. Take Profits (before it’s too late!)

One of the biggest mistakes you can make in the NFT game is to wait too long before taking profits.

Remember: Even small profits can add up big!

On the other hand, even the most successful projects can fade within a day or even less. We have seen this in the NFT market all over again. Everything is possible and there are always risks…BIG risks.

With that said, the safer way to go about this is to take even small profits and then look out for new projects to invest in (or maybe reinvest in the same project at a later point).

Timing is incredibly important in this game.

And trust me, even not being able to access your phone/computer for an hour or two can make all the difference.

It might cost you all your profits. Floor Prices move extremely quickly and before you know it, your favorite collection might crash….or, if you are lucky…might moon like crazy and you might just miss the pump because your phone just died.