Everything I Look For - And What I Wish I’d Known Sooner - When Buying NFTs

When did you first hear about NFTs and what was your immediate reaction?

I first heard about NFTs and the blockchain many years ago - my immediate reaction was 'what is this, and what's the point' - shamefully I was quite dismissive of this technology and didn't quite understand why it was so important.

Considering your background in data science and analytics, what excites you about Web3?

I love the transparency around data.

What used to be owned by big corporations like Facebook, Google, etc, is now completely free and available for anyone and everyone to explore. Every transaction that happens on the blockchain is recorded as it existed forever - and can be traced back to the originating source. That's really fascinating and opens up a whole new space for data and our ways of processing and using it to evolve.

Why is it important for women specifically to engage with NFTs?

NFTs are here to stay. The way we interact with them and the key players in this space may change but the technology it's built on will only become more important in the future.

I think it's important for women to engage with NFTs as, personally, it gives them the opportunity to get involved with Web3 and start thinking about in what capacity they themselves can contribute to it.

We're still early - so now is a really good time to ensure that we are able to put our stamp on the industry and build a space we would want to work in. Also, there's lots of money here! we don't need the financial gap to widen - so it's important to take our piece.

What do you wish you had known before you bought your first NFT?

That too much caution is rarely a bad thing. I yolo'd into my first couple of NFTs - some played out quite well, but others, in hindsight, I shouldn't have bought and had all the signs to tell me that. Ethereum (and other cryptos) have a habit of making a lot of money feel small - it's quite easy to buy things you wouldn't if your rational mind was switched on.

Have you experienced FOMO when purchasing an NFT / is there a competitive nature? How does this affect buying decisions?

YES.

There's such a competitive nature when it comes to buying NFTs. Especially if you're trying to mint (layman's - buy an NFT that has just launched) a popular project. It's quite easy to forget to do your own research when there's so much hype around something. It makes it so easy to fall into the mindset of 'buy now, think later' (or rather, regret later).

Time in the space does help with overcoming this feeling, you start to realise that new and equally amazing projects are being launched every single week - there really is no need to FOMO into anything!

What was your first NFT?

Minted - inBetweeners by GianPiero (a generative art project).

Purchased - Dreamstates The Summer Special (a photographer's piece).

What was your most recent purchase?

I upgraded my decentral.games ice poker wearables (DAO & play2earn gaming project).

What do you look for in an NFT?

These days I look mainly at the longevity of the project. Is this an NFT that has a viable strategy? What utility are they offering to their holders? Do I care about what they care about?

Specifically I've been investing more in NFTs that focus on PoC and women communities, gaming and fashion.

I occasionally also look for projects that may be a quick flip (provide short term profit) - these are usually projects that have some hype around them, a growing community and long term value but not necessarily in areas I care about.

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