![]() One can also utilize Mint Master to gather insights on what notable NFT minters are doing, and to track Smart Money’s interaction with a project on Smart Money. ![]() For a more evidence-based approach, one can leverage the insights on Nansen’s NFT God Mode to check transaction data of specific projects. It is essential to conduct thorough due diligence on prospective projects such as researching the community, their roadmaps and the founding team’s history. One should consider their risk appetite when deciding whether to participate in NFT mints. Getting into NFTs early through participating in mints should come with careful consideration. As illustrated in the above graph, the profits of top minted collections follow a volatile trajectory. When analyzing the top minted collections’ profit per month, we see that the minimum average profit was approximately 4 ETH, with the peak being 115 ETH. When it goes well, how well does it go? (The top minted collections profit per month) Understanding the NFT market through NFT Minters’ behavior Equally, one in three NFTs ends up as a dead collection with little or no trade activity post-minting. Our findings shed light on the phenomenon that one in three minted NFTs have a higher trading floor price than their initial minting costs. Data from Nansen’s NFT indexes and Market Trends dashboards captured the recent downward trend in the market, and such a trend was reflected in NFT Minter’s behavior. Our analysis revealed that NFT Minters’ behavior could be taken as a signal for the short-term market trend, just as how we observe miners' behavior as a proxy for Bitcoin’s price. Leveraging data derived from the Nansen dashboard, we explore the trends relating to NFT minting. While their report established the advantage that NFT Minters have, it led us to dig deeper into the behaviors of NFT Minters. Previous insights shared by Chainalysis observed that one in five NFT Minters realized profits from the NFTs purchased during the minting phase.
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