The world of decentralized finance (DeFi) is composed of more than just cryptocurrencies. Blockchain technology allows many use cases, and NFTs market is one of the biggest yet. But the need for NFT tools has increased with more investors trying to find the next best non-fungible asset.
The right tools can provide powerful insights to guide your investment strategy — and as with DeFi and trading in general, this applies to NFTs as well. We’ve done the research for you, listing the top 7 NFT tools to help you pick the best NFTs.
In this guide
- NFTs: a new generation of digital assets
- How to choose the best NFTs
- The top 7 NFT tools
- Spotting the best NFT investment opportunities
- Frequently asked questions
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 represent real-world assets, such as art or real estate, and are 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. NFTs have been 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 last quarter. The Ethereum network accounted for over 77% of the NFT trading volume. Investors have flocked to this new way of recognizing unique assets.
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 now, but getting some rare ones might cost you millions of dollars. 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.
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.
The top 7 NFT tools
We’ve researched for you and come up with seven NFT tools to help you choose the best NFTs.
Rarity is one of the key criteria to consider when considering buying a non-fungible token. The best NFTs are rare and wanted by collectors, which drives their price up. An excellent NFT rarity tool to help you examine the NFT space is rarity.tools.
On rarity.tools, you can sort NFTs by volume in ETH, average price, and the collections available on the market. Top NFTs can be found and analyzed here, including CryptoPunks, Bored Ape YC, and Mutant Ape Yacht Club.
Each collection has its page, where you can see all the NFTs of that collection. Each has a detailed card, on which you can see the clear attributes of that particular asset. Rarity has the additional benefit of giving each NFT a rarity score.
The platform charges creators a listing fee. That’s why it might not include all NFTs, since some might not be able to afford or be willing to pay the platform’s fee.
NFT art collectors can easily navigate on the platform and analyze an NFT collection. The user-friendly platform and the detailed information make it a great NFT tool to use for those seeking lucrative NFTs.
Rarity.tools is free to use. However, brands and creators can list their NFT projects on Rarity.tools for a listing fee of 2 ETH.
OpenSea is one of the most well-known platforms and 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 analyzing your future digital art investment.
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 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 Klaytn blockchains. Another advantage is that you can keep track of NFTs on these three chains using one platform. In addition to blockchain filtering, you can filter NFT based on nine other categories, including art, music, sports, and trading cards.
Identifying opportunities in the NFT space has been a long-time desire of many investors, and Nansen.ai has been 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.
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.
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 will find a dedicated page with all the information you might need, such as price, special attributes, and rarity rankings.
This all-time ranking 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 includes players and teams from NBA Top Shot, the NFTs licensed by NBA.
The first thing you see on icy.tools is the “Trending Collections” from the last day, but you can filter the ranking to the last three days or last 15 or 30 minutes if you have a wallet connected.
The leaderboard gives you a clear understanding of the floor price, average price, volume, and sales for each of the listed collections.
The interface is user-friendly, which makes the NFT analysis easy, even for new investors.
On the “Discover” tab, you will find the top mints, from the last day to up to the last 15 minutes. You can also find the wallet addresses of the top buyers and sellers.
Premium users can also access the detailed pages for each NFT collection, which includes price charts and history for each NFT in that collection. Moreover, premium accounts have access to the trading history for each wallet address listed under buyer and seller.
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 to use for managing your NFT portfolio.
According to NFTBank, investors who use their platform find NFT investment opportunities ten times faster than others. Indeed, the user interface is intuitive and delivers insights in a manner that is easy to understand even by anyone.
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.
7. 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.
Spotting the best NFT investment opportunities
Most of the NFTs are minted on the Ethereum blockchain and are part of the DeFi ecosystem. Their price is set in ETH and users can buy them using specialized NFT marketplaces, such as OpenSea.
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.
NFTs can be hard to keep up with, so why not join BeInCrypto’s Discord server to ensure you’re on top of everything?
Frequently asked questions
How can you tell how rare an NFT is?
What is a rarity tool?
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