Blockchain technology allows many use cases, and the NFT market is one of the biggest in web3. The right tools can provide powerful insights to guide your investment strategy. We’ve done the research for you, listing the top NFT tools to help you pick the best NFTs.
KEY TAKEAWAYS
► NFT tools like OpenSea, Nansen, CryptoSlam, NFTBank, and NFT Stats, offer valuable insights to help investors choose and analyze NFTs for potential investment opportunities.
► OpenSea is the largest NFT marketplace, providing real-time data, rankings, and cross-blockchain NFT filtering.
► Analytical tools like Nansen and CryptoSlam help investors track NFT wallet activity, collections by trading volume, and provide insights into trends in NFT space.
► Finding the best NFTs involves researching factors like rarity, creator reputation, pricing, and liquidity, using NFT tools for deeper insights.
The top NFT tools in 2024
We’ve researched for you and come up with six NFT tools to help you choose the best NFTs.
1. OpenSea
As one of the most well-known NFT platforms, OpenSea is home to some of the most sought-after collections. On top of the impressive digital art collection, this NFT platform can also serve as an NFT tool for creating and analyzing your future digital art investments.
As a collector, you will find that OpenSea offers a robust ecosystem, having the NFT shop and data altogether. Having all the information in one place makes it easier to decide on the best NFT to buy.
OpenSea highlights
OpenSea is the largest NFT marketplace, and it makes it easy to see all activity and data regarding any NFT listed on the platform. Under stats, on the main menu, you will find Rankings and Activity, which will present the data about NFTs in real-time.
OpenSea supports NFTs based on the Ethereum, Polygon, and many more blockchains. Another advantage is that you can keep track of NFTs on these chains using one platform. In addition to blockchain filtering, you can filter NFTs based on nine other categories, including art, music, sports, and others.
2. Nansen
Identifying opportunities in the NFT space has been a long-time desire of many investors, and Nansen was one of the first NFT tools to deliver it.
This NFT analysis platform provides users with a leaderboard of the NFT wallets, by total profit made. The insights of the analysis can help you manage your assets and develop a strategy.
Nansen highlights
The analyzing tool on Nansen provides detailed data for each wallet in the leaderboard, such as minting fees, secondary market fees, and all data about the ERC-20 tokens.
Nansen allows you to see the leaderboard for each specific project, which makes it easy to see and analyze owners. Moreover, this NFT tool allows you to follow these wallets and observe their investments over time.
3. CryptoSlam
Another top NFT tool for analyzing the market is CryptoSlam. This simple yet powerful platform allows users to discover NFT collections by trading volume.
Each NFT collection has a detailed page that includes live sales, marketplace, and minting. For each NFT you find, there is a dedicated page with all the information you might need, such as price, special attributes, and rarity rankings.
CryptoSlam highlights
This ranking tool for all NFT collections makes it easy for anyone to find and discover NFTs. CryptoSlam has all the desired ranking parameters for an NFT tool, such as blockchain sales, fan tokens, global indexes, and NFT collectibles sales by volume. CryptoSlam also includes players and teams from NBA Top Shot, the NFTs licensed by NBA.
4. NFTBank
NFT investors will be pleased to know about NFTBank, a powerful NFT tool that can provide instant insights on investments. The information provided covers ROI, activity, and spending, among other things. NFT Bank is one of the best NFT tools for crypto portfolio management.
NFTBank highlights
According to NFTBank, investors who use their platform can find NFT investment opportunities. Indeed, the user interface is intuitive and delivers insights in a manner that is easy for anyone to understand.
Using NFTBank, users can track their portfolio and have a unified profile that supports all the NFT projects and blockchains. The “Analytics and Signals” tool can help users find new NFT investment opportunities, as it provides indicators to help them understand the market and follow other users’ portfolios.
5. NFT Stats
Another easy-to-use and insightful NFT tool is NFT Stats. This NFT platform offers basic insights for NFT collections. The NFT rankings include trending collections, new collections, and the top collections in the last 30 days. The ranking for the collections includes the number of sales and the total volume.
NFT Stats highlights
This NFT platform offers a quick overview of the top NFT collections sold in the last 24 hours, seven days, and 30 days. Data includes the NFT and the collection it’s a part of, when it was sold, and at what price. Each collection page has details on the recently sold NFTs and price charts for the last three months.
Top NFT tools compared
The top NFT tools vary in numerous ways. So, it is difficult for the average user to make a comparison on which is the best choice for them. Here is a brief comparison of the top NFT tools.
| Tools | Platform | Blockchain | Price |
|---|---|---|---|
| OpenSea | Marketplace | EVM | Varies |
| Nansen | Analytics | 12 | Subscription |
| CryptoSlam | Analytics | 19 | Free |
| NFTBank | Asset management | Ethereum | Free |
| NFT Stats | Analytics | Ethereum | Free |
NFTs: A new generation of digital assets
NFT stands for non-fungible token, and it is a means to store data on a blockchain. NFTs can be associated with specific digital or physical assets and a license for using that asset.
The origin of NFTs comes from colored coins, which were issued on the Bitcoin blockchain in 2012-2013. These special coins represented real-world assets, such as art or real estate, and were used to prove ownership of these assets.
Today’s NFTs can be anything from unique digital artwork to an event ticket. Often, they come in collections and are a means for artists to get recognized for their work. The most expensive NFT ever sold so far was a painting of Beeple’s, called “Everydays: The First 5000 Days.” The NFT was auctioned for over $69 million on Mar. 11, 2021.
According to a DappRadar report, the blockchain industry registered a growth of 509% year-over-year and a 25% quarterly growth for the unique active wallets in 2021. NFTs were central to this growth.
For example, during Q3 of 2021, the NFT space registered a trading volume of $10.67 billion, which is a 704% increase compared to the previous quarter. The Ethereum network accounted for over 77% of the NFT trading volume at the time. Since then, investors have flocked to this new way of recognizing unique assets.
In 2024, NFTs have largely lost the momentum that they once held in 2021. Many projects have dropped in value, trading at fractions of their all-time highs. NFTs are largely trend/narrative-driven; however, the narrative for speculative trading shifted in favor of memecoins. For a brief period, Bitcoin NFTs became popular; however, this interest also faded over time.
How to choose the best NFTs
Art collectors and crypto investors have become genuinely interested in NFTs and are constantly looking for the next big NFT series that will shake up the world. Aside from supporting the artist and offering full ownership, NFTs can also be a means of transferring wealth. Of course, the most important aspect is knowing how to choose the right NFTs.
CryptoPunks and CryptoKitties are some of the most profitable NFTs, but getting some rare ones might cost you a hefty sum. While there are numerous opportunities out there, you need to carefully choose to invest in the right NFTs.
Randomly investing in NFTs would be wasteful because the NFT marketplace isn’t as liquid as the crypto market. Selling cryptocurrencies is near-instant on numerous crypto exchanges, but selling a random NFT is a different story.
That’s why you will need to do some research and use the right NFT tools to find the best NFTs to invest in.
The two most important aspects to keep in mind while researching NFTs are:
- Search for a liquid market to ensure you can easily sell your NFTs.
- Invest in a known NFT creator whose art might become collectible and, therefore, rise in value.
NFTs can be hard to keep up with, so why not join BeInCrypto’s Discord server to ensure you’re on top of everything?
Tips for finding the best NFTs
To make money from your NFT investment, you will need to discover the story behind the art represented by the NFT. As a quick checklist for what to look for when searching for the best NFTs, use this list:
- Properties of the NFT (Is it a rare NFT? How is it generated?)
- Does the creator or artist have a community? Where is the community, and how strong is it?
- How much is the NFT selling for now?
- How many pieces of the NFT collectible exist?
- On what NFT platform can you find the pieces?
It’s always worth doing your research on Twitter, Discord, and YouTube, where most NFT platforms and enthusiasts spend their time.
Spotting the best NFT investment opportunities
Most of the NFTs are minted on the Ethereum blockchain and are part of the DeFi ecosystem, but this is quickly changing. In the future, there will likely be more NFT tools to keep up with new ecosystems and multi-chain features.
Hopefully, this list of NFT tools will help you discover the best NFTs to invest in. Some premium options are useful for avid collectors who need an NFT tool to keep track of their portfolios. All in all, you can use these NFT platforms to get all sorts of insights to help you develop your personal strategy for NFT investment.
Frequently asked questions
How can you tell how rare an NFT is?
What is a rarity tool?
What are NFTs?
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