Chill Guy is a viral meme illustration that took social media by storm before a crypto project used the meme to launch a Solana-based token. Learn more here.

What started as a simple illustration of a laid-back dog has become a global meme sensation, with the cartoon character known as Chill Guy dominating both social media trends and cryptocurrency markets. Created by artist Phillip Banks in October 2023, the easygoing canine character sparked a viral movement that has attracted major brands worldwide.

This article follows Chill Guy’s transformation from a social media sensation to a cryptocurrency asset. We'll examine its viral beginnings, community growth, market impact and what potential investors can expect from CHILLGUY in the future.

 is a viral meme illustration by artist Phillip Banks, depicting a laid-back dog in casual clothes whose easygoing attitude took social media by storm before a crypto project used the meme to launch Just a Chill Guy as a Solana-based token.

What Does Just a Chill Guy Aim to Achieve?

The CHILLGUY meme coin aims to spread a "Why worry?" philosophy into cryptocurrency markets by embracing the laid-back, stress-free attitude that made the original meme go viral. The project transforms this easygoing vibe into a community-driven token, where being low-key isn't just a catchphrase — it's a shared mindset among holders.

The CHILLGUY community brings this philosophy to life by sharing endless variations of the CHILLGUY meme across social platforms. Through market swings and viral trends, CHILLGUY keeps his iconic pose: hands in pockets, subtle smirk, perpetually relaxed.

Just a Chill Guy (CHILLGUY) operates as a Solana Program Library (SPL) token on the 

 blockchain, leveraging the network's ultrafast speeds and low costs to ensure smooth trading. The token was created using Pump.fun, a specialized platform that lets users launch Solana-based tokens without any fees, removing traditional barriers to token creation.

CHILLGUY is a community takeover (CTO), meaning it's completely owned and directed by its token holders with no central team in control. This decentralized structure ensures the project stays true to its community-driven nature, its holders collectively guiding its future while embodying the laid-back spirit of the original meme.

The CHILLGUY token launched with a maximum supply of 1 billion tokens, of which 999,965,435 are currently in circulation. This near-complete distribution of tokens to the market supports active trading and community participation.

What makes CHILLGUY's tokenomics particularly notable is its widespread distribution across more than 142,000 unique holders (as of Nov 27, 2024), achieved in just 12 days. This rapid expansion of its holder base demonstrates strong community adoption and aligns with the project's decentralized, community-driven principles.

CHILLGUY has exploded across social media, especially on TikTok, where the meme has amassed hundreds of millions of views. Its laid-back character resonates with users worldwide, inspiring countless creative adaptations.

Major brands worldwide have embraced CHILLGUY in their marketing campaigns. From Sprite Europe to NFL on CBS, the character has resonated across mainstream media, even catching the attention of global figures like El Salvador's president Nayib Bukele.

The “Chill Guy” meme’s influence spans multiple social media platforms, with a growing community of followers: 96.6K on X (

). On the other hand, the meme token itself also has a vast community, with 39.9K on X (

) and an active Telegram channel of over 15,000 members. These numbers reflect the meme's ability to engage audiences across different platforms.

The token's popularity in cryptocurrency markets matches its social media success, with CHILLGUY maintaining a substantial 24-hour trading volume of over $330.03M as of Nov 27, 2024. This high trading activity demonstrates the strong market interest in CHILLGUY beyond its meme status.

Looking to trade Just a Chill Guy tokens? Bybit now offers the CHILLGUY/USDT Spot trading pair and CHILLGUYUSDT Perpetual contract. To get started, you’ll first need to create a Bybit account, then fund it with cryptocurrency and navigate to the 

While CHILLGUY has maintained strong trading volumes and continues gaining mainstream attention through its viral social media presence, investors should carefully weigh its strengths and risk factors before making investment decisions.

With its widespread brand adoption, sustained trading activity and explosive community growth of over 142,000 holders, CHILLGUY demonstrates significant market potential. However, meme coins are inherently volatile. Potential investors should 

 and invest no more than they can afford to lose.

CHILLGUY is the latest viral sensation to harness the power of the attention economy to convert social media momentum into crypto market success. While CHILLGUY has already demonstrated its ability to capture mass appeal, its position as a leading meme token will depend upon how effectively it maintains its cultural relevance and community engagement in this fast-moving market.

Intermediate

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Just a Chill Guy (CHILLGUY): Embracing the Art of Nonchalance

Zircuit (ZRC) combines optimistic and ZK rollups with AI-driven security, offering fast, low-cost Ethereum Layer 2 solutions. 

 network has flourished, mainly due to the ongoing network congestion, high fees and poor scalability of the latter. Many of these platforms use rollup technology, whereby batches of multiple transactions processed off-chain are bundled together and posted in bulk to the underlying Layer 1. Ethereum-linked rollups mainly come in two varieties 

 (ZK). While optimistic rollups boast lower computational overhead, the ZK variety of these networks features a higher degree of security.

Zircuit (ZRC) is a Layer 2 chain that adopts a hybrid approach, combining the elements of optimistic and 

. This lets the platform offer the performance benefits of optimistic technology along with the security of ZK validity proofs. To further enhance overall security, Zircuit uses a unique 

 (AI)–driven system of monitoring for malicious transactions.

 (ZRC) is a hybrid Layer 2 blockchain that combines the features of optimistic and ZK rollups, and uses AI-driven monitoring for potentially harmful transactions. 

 rollup development technology, a popular framework for building optimistic rollup networks. Additionally, it uses zero-knowledge proofs, which lets the platform offer the best of both worlds 

 the performance benefits of optimistic rollups and the security of ZK technology. Zircuit is 

The Zircuit project takes security very seriously, and has introduced a unique system of AI-based protection against malicious transactions at the sequencer node level. The use of ZK proofs and an AI-based protection system make Zircuit one of the most secure platforms in the competitive world of Ethereum Layer 2 chains.

Along with its excellent security benefits, Zircuit also boasts low costs, fast transactions, excellent scalability and 2-second block production intervals. All these features make it an ideal environment for 

 (DApps) in various niches, particularly 

 (DeFi). In fact, the leading protocols within the Zircuit ecosystem are all dedicated to the finance niche, with Zircuit Staking being the largest application by TVL.

With its heavy focus on DeFi, Zircuit aims to become a leading liquidity hub for various token types within the sector, including 

. These assets can be staked through the Zircuit staking program — supported by the platform's Liquidity Hub — to earn staking APRs, airdrop rewards and points based on the Zircuit Point program (covered further in our article).

The platform also operates a secure native bridging solution, 

, to help users transfer assets between its Layer 2 network and Ethereum Layer 1.

The company behind the project, Zircuit Ltd., was founded in 2021 in Canada by Dr. Martin Derka, Jan Gorzny and Angel Xu. Zircuit's testnet was launched in November 2023, but made headlines in April 2024 when the project reported that its 

 (TVL) had soared past $2 billion. While testnet TVLs are more a gauge of future potential for a blockchain than an indicator of its existing worth, the news attracted the attention of industry observers toward the platform. Following its highly publicized testnet success, Zircuit launched the first phase of its mainnet in August 2024. This was followed by the launch of the platform's native token, ZRC, in November 2024.

As a typical rollup, Zircuit uses an off-chain sequencer node to batch and organize Layer 2 transactions for subsequent posting to the underlying Ethereum Layer 1. The batches have ZK validity proofs attached to them to signal to Layer 1 validators that they’re free from fraudulent transactions. Zircuit's architecture also includes prover nodes, whose job is to produce these validity proofs.

However, unlike other rollups using ZK proofs (also known as validity proofs), Zircuit doesn't generate validity proofs for every block of transactions. Instead, some blocks have pre-generated template proofs, while others go through the process of having a dedicated validity proof created for them. After a few blocks featuring validity proofs, there are several more that utilize template proofs. The image below illustrates this approach.

The key reason Zircuit has adopted this form of proof design is that the process of generating ZK proofs is computationally intensive. By using template proofs for some of the blocks in a sequence, Zircuit can reduce the overall computational overhead. However, the project’s team has stated that the template proof model is temporary, and will be phased out in the future. At that stage, the platform will move to generating ZK proofs for each block.

Zircuit features a highly modular design whereby provers — responsible for generating validity proofs on the platform — can easily be plugged into or removed from the network. This modular approach is distinct from the standard ZK rollup design, in which provers are more tightly and less flexibly integrated into the overall architecture.

As noted earlier, Zircuit uses a dedicated sequencer to organize and batch transactions into blocks. The platform also applies AI-driven monitoring at the sequencer level (the Sequencer Level Security, or SLS) to spot and exclude fraudulent transactions before they’re finalized on Layer 2.

When transactions are first posted to Zircuit, they enter the 

 — a temporary area from which the sequencer picks and organizes individual transactions into blocks. The mempool is being monitored at all times, using AI algorithms to identify suspicious transactions. If a transaction in the mempool raises a flag, it's quarantined and assessed for validity before the sequencer can include it in a block. The image below shows how this process works.

One of the distinct features of Zircuit is its hybrid architecture, which combines the properties of optimistic and ZK rollups. At the base level, Zircuit is built using Optimism's Bedrock development framework, a technology popular for optimistic rollup networks. However, the use of ZK proofs — or, to be more precise, a combination of validity proofs and template proofs — ensures that Zircuit enjoys a security level that standard optimistic rollups normally can't match.

The use of AI-based SLS provides robust security to Zircuit, complementing the already highly secure ZK proof system. Very few Layer 2 networks in the industry currently feature anything similar, making the platform a true pioneer of AI use for sequencer-level operations.

Like any rollup based on Optimism Bedrock, Zircuit enjoys EVM compatibility. This allows for smooth interoperability with the underlying Ethereum Layer 1. EVM compatibility also makes it easy for developers familiar with Ethereum’s environment to develop Zircuit-based DApps, or to port existing Ethereum applications to the platform. Developers can take advantage of technologies commonly used for Ethereum (e.g., the Solidity programming language and the Hardhat development framework) to build Zircuit applications and smart contracts.

Zircuit Bridge is a native bridging solution designed to easily transfer tokens between Ethereum and Zircuit. It boasts high security, low transaction fees and fast transfers, and allows users to move a variety of cryptocurrencies between Ethereum and Zircuit, including ETH, 

) and LRTs like Super Symbiotic LRT (weETHs). As of late November 2024, the total number of cryptos supported by the bridge is close to 30.

Zircuit has launched a reward program called Zircuit Points. Users can earn these Points by staking supported assets, and by participating in the Build to Earn initiative (more on this below). Accumulated points will be converted to ZRC tokens in the future. Points also create the opportunity to qualify for token airdrops.

The primary way for most users to earn Zircuit points is via 

. The Zircuit Staking program lets you stake LSTs, LRTs, popular stablecoins, some wrapped tokens and Ether (ETH) to earn points. Using LSTs and LRTs, you can earn yields (along with native Zircuit staking APRs and Points) from the respective staking and restaking platforms that issue these assets.

Zircuit Points earned via staking have different multipliers, depending upon the asset. For example, Ether has a multiplier of 0.5, while LSTs, LRTs and stablecoins have a multiplier of 1. Multipliers for different LST and LRT assets may be subject to change in the future.

Build to Earn is another way to qualify for Zircuit Points. The program allows developers to contribute to the Zircuit ecosystem and earn Points in a number of ways, including:

Launched in November 2024, ZRC is the platform's native cryptocurrency. It's an 

 asset deployed on both Zircuit and Ethereum Layer 1. ZRC is mainly used for reward distributions, and participation in token airdrops for ecosystem DApps. Currently, transaction fees on the network are paid in Ether. It's possible that, in the future, ZRC might be used for some transaction fee payments.

ZRC is also used for rewards under the Gas Rebate program. As users conduct transactions on the platform, they 

. Zircuit’s Gas Rebate program provides rebates to offset some of the incurred fees. The amount of ZRC earned as a rebate is proportional to the amount spent on gas in ETH; the project's documentation states that for each ETH spent on gas, the user earns 125% in ZRC. All kinds of gas fee payments qualify for the rebate, including ordinary asset transfers and transactions involving interaction with Zircuit DApps.

ZRC is a supply-capped token, with a maximum and total supply of 10 billion. The token's supply allocation shares are as follows:

The ZRC token is available on Bybit's Spot market as a swap pair with USDT (

 to grab a share of the 5 million ZRC prize pool. New users who sign up for a Bybit account and complete identity verification can earn ZRC rewards by accumulating a deposit volume of at least 2,000 ZRC, or by depositing 100 USDT and trading 100 USDT worth of ZRC via their first trade with Bybit. 

Meanwhile, existing users can qualify for ZRC rewards by trading at least 500 USDT worth of ZRC on the Bybit Spot market, with the possibility of earning up to 10,000 ZRC based on trading volume. The 

 event will run through Dec 10, 2024, 8:59AM UTC.

Zircuit is among the pioneering Layer 2 platforms to adopt a hybrid design for a rollup network. Thanks to the platform's architecture, users can take advantage of low transaction costs, fast transfers and great scalability while enjoying the benefits of high security delivered by ZK proofs and AI-driven mempool monitoring. AI-based monitoring for fraudulent transactions is a particularly notable feature of the platform and is undoubtedly among the most advanced technologies employed in the blockchain industry.

User security combined with faster and cheaper transactions for the Ethereum network — all in one package — is now feasible, thanks to Zircuit's innovative technology and unique approach!

Advanced

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What Is Zircuit (ZRC): Where Performance Meets Cutting-Edge Security

Bybit is celebrating its sixth anniversary with the #Super6Bybit event, offering a $1.2 million prize pool and focusing on its bbSOL token.

Daily Top Performer — Virtuals Protocol (VIRTUAL)

On Wednesday, the S&P 500 fell 0.38% as tech stocks dropped and inflation data reinforced a hawkish Fed outlook. Coindesk Indices, an index measuring broader cryptocurrency market performance was down by 0.40%, with Bitcoin and Ether dropping by 1.86% and 1.79%, respectively in the past 24 hours.

Today's top performer is VIRTUAL, which surged 53.6% following the launch of the $MUSIC token by Agentstarter, featuring AI-driven music video capabilities and community-focused tokenomics.

Virtuals Protocol (VIRTUAL), founded in 2021, allows users to invest in and co-own AI-driven virtual assets like companions and influencers. Its model fosters community ownership, transforming AI agents into revenue-generating assets across platforms like Roblox and TikTok. The platform attracts contributors from AI and gaming to drive innovation in virtual economies. 

, using AI to create music videos and offering features like animated videos, voice mimicry, and karaoke tracks. The tokenomics allocate 60% for airdrops, 20% for liquidity, and 10% each for the development team and Virtuals Protocol.

Check Out the Latest Prices, Charts, and Data of 

Bybit is celebrating its sixth anniversary with the 

, offering a $1.2 million prize pool and focusing on its bbSOL token. Launched in September 2024, bbSOL is the first exchange-backed Liquid Staking Token on Solana, providing liquidity and staking rewards. The campaign, running from November 28, 2024, to January 6, 2025, invites participants to build, transform, and supercharge their bbSOL through tasks, leaderboards, and community milestones, increasing rewards. The event combines gaming mechanics, community engagement, and opportunities to win prizes while promoting innovation and growth in the crypto space.

Yesterday, there were no flows in BTC Spot ETFs, including GBTC and non-GBTC categories.

. Stake BNB on Lista's portal to get slisBNB, then deposit it into Astherus to earn airdrop points with multipliers (3X for Lista, 1.15X for Astherus). No lockup is required, and slisBNB is the most efficient option.

Beginner

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Bybit Celebrates 6th Anniversary with $1.2M Prize Pool and bbSOL Supercharging Campaign

Our weekly crypto derivatives analytics report delves into macro events, the current state of crypto and trading signals from spot trading volume, and futures, options and perpetual contracts.

ETH has outperformed, bolstered by SEC Chair Gary Gensler's announcement of his Jan 20, 2025 departure, and suggested by growing open interest in ETH perpetual. This positive momentum extends to several large-cap altcoins previously scrutinized by the SEC, as indicated by bullish funding rates for long positions.

Please check out the report’s highlights.

ETH Open Interest Grows While BTC’s Declines

ETH is outperforming BTC following the announcement of SEC Chair Gary Gensler’s departure, as evidenced in perpetual swap markets. BTC open interest has decreased from last week's highs, while ETH contracts have increased. Additionally, ETH trade volumes constitute a larger share of daily trading as compared to much of the past six months, despite an overall dip in trade volumes this week. The gradual decline in BTC open interest, without a surge in trading activity, indicates a strategic repositioning, rather than a wave of liquidations.

BTC Option Curve Inversion Deepens as Price Retreats

The pullback in the spot BTC price from the $100K target has led to a flat ATM volatility term structure, with short-tenor options dropping below 60%. 

This trend continues the correlation between term structure inversion and BTC spot price returns observed since the U.S. election on November 5, 2024

. The decline in front-end volatility aligns with lower realized volatility levels. While demand for short-tenor options has moderated, there hasn't been a notable change in open interest for calls or puts. Instead, their growth has stalled at the week's start.

Sentiment in ETH options markets seems moderately more bullish than in BTC's during the recent decline in momentum from the post-election rally. Call options lead in both trading volumes and open interest. 

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Bybit X Block Scholes Crypto Derivatives Analytics Report (Nov 27, 2024): Signal on ETH Outperformance Against BTC Surfaces on Long-Term Contracts

Bybit Learn

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Crypto scams are rampant, and NFT is no exception. Master these techniques to identify a good NFT project & learn which projects to avoid.

These days, everyone is talking about NFTs, or non-fungible tokens. Irrespective of what you think about NFTs, there’s little doubt that the market for NFTs has exploded. Recent estimates suggest a 

, which is a hundred times larger than four years earlier.

As with everything new, speculations abound. Some people think that NFTs have reached a tipping point, and the bubble is going to explode. Others suggest that this is only the tip of the iceberg, because the NFT phenomenon is just beginning to go mainstream. The variety of sentiments confuses investors who are already disoriented by the chaotic environment, unable to decide whether to invest in NFTs and how much value a specific NFT project holds.

In truth, such confusion results primarily from misunderstandings about NFTs. In fact, non-fungible tokens are more than just digital images floating around the internet. Similarly, it's also true that not every NFT project is worth your investment.

Here’s a look at NFTs, why they have a future, and what makes a good NFT project.

Are NFTs Just Another Speculative Bubble?

A lot has been said about NFTs since their launch. From time to time, websites tracking NFT prices suggest that their value has decreased significantly, dropping as much as 75% in the space of a few months. As a result, most people automatically assume that the NFT craze is just another bubble which will burst, sooner or later.

In reality, anything related to the crypto sphere — including NFTs — has always remained extremely volatile. A broader look at cryptos suggests countless dips and peaks. For instance, the historical Bitcoin graph reveals numerous bubbles throughout its decade-and-a-half existence. Therefore, if history is any indication, everything that’s built on a solid foundation will peak at the right time — and NFTs are no exception.

People also speculate because they see NFTs as digital art without creative use. However, there’s no reason to count NFTs out — because they offer artists much more than traditional artwork, offering them verifiable ownership rights, enhanced security, and more flexibility in buying and selling.

Optimists also point out that NFTs are worth the hype because they have value beyond aesthetics. For instance, the NFT gaming space is rife with innovation. Players can purchase in-game assets and explore new dimensions, and NFTs are also helping people create digital identities.

Perhaps the most defining feature of the NFT is its potential to make markets more efficient. This efficiency is partly manifested in a transparent environment for digital artists, who can directly connect to a global audience without involving costly agents. Instead of artists going to Christie's, for auction, it's the other way around.

NFTs can even replace passports and IDs to streamline identification and travel. Similarly, they can be used to fractionalize the ownership of physical assets, including real estate, artwork and fine jewelry.

In essence, NFTs are no joke, because they solve real-world problems. NFTs are being used as event tickets, software licenses and fan club memberships. The possibilities are endless, and there’s no reason to think of NFTs as a baseless commodity or a speculative bubble.

Now that you have some ideas as to why NFTs are useful, it's time to consider if they can bring you some luck.

If you're someone who craves aesthetics or loves to explore new products, jumping on the NFT bandwagon is a no-brainer. It means that you're buying NFTs for the sake of art and fun.

On the other hand, if you're looking at an NFT as a future investment, you need to walk a tightrope and be able to discern between a good NFT and a bad NFT project. This is precisely what this article will help you to do: Identify ten important things to consider before buying NFTs.

What Will NFTs Mean in Another Ten Years?

If you've decided to invest in NFTs, you may be in for a pleasant surprise. In the next ten years, NFT projects will likely reach a new milestone. This is evident from the large business stakes of Twitter, Reddit and Facebook, each of which is investing heavily in buying and selling NFTs.

Mark Zuckerberg has already announced his intentions to make way for NFTs in a new business model, since NFTs offer privacy, safety and interoperability. If everything goes according to plan, there’s every reason to believe that NFTs will form the cornerstone of Facebook's reinvention into Meta, as it transforms its operations to integrate the realities of the metaverse.

The in-game marketplace is another big domain for NFTs. At present, gamers can’t use their in-game credits from one game in another. Once they lost interest in a game, their credits are wasted. This may no longer be the case in a few years, as NFTs are already allowing gamers to transfer the remaining credits to other gaming platforms. With scarcity, transferability and proof of ownership, the in-game purchases can be used as investments, instead of using them for fun only.

While there are countless other uses for NFTs, one of the most remarkable claims is being made by Tether co-founder William Quigley. He suggests that every consumer product in the next ten years will have a

. Considering that almost 20% of existing paintings owned by museums are non-authentic and approximately 3.5% of world trade is based on counterfeit products, digital records of ownership of physical assets may revolutionize the world and give NFT owners much more than they bargained for.

The stock market is the first thing that comes to mind when thinking about investments. However, most people are unable to relate NFTs to the stock market and traditional investment channels because they are only perceived as digital art. Contrary to this belief, NFTs represent real-world objects like art, music, in-game items, videos, and more. Accordingly, investing in NFTs means investing in real-world objects and virtual assets that have a meaningful impact on people’s lives.

Perhaps the most striking parallel between investing in NFTs and the stock market is in futures trading contracts. Just as a futures trading contract is built around an underlying asset, so are NFTs, which represent real assets. If no one doubts the feasibility of futures in the financial markets, there’s likewise no reason to doubt the validity of NFTs. As a matter of fact, NFTs hold much more value than futures contracts — because NFTs solve real-world problems. Therefore, it can be argued that NFTs are real investments that will likely form the backbone of investment projects.

Things to Note When Accessing an NFT Project

There are lots of NFT projects popping up every day. Whereas new projects have increased the number of choices available, the diversity has also made it difficult to pick a profitable project. Most people looking to invest in NFTs get burned because they make their choices without due diligence. This haste leads to loss, giving NFTs a bad reputation.

Fortunately, if you're willing to do a bit of research, without falling for the usual marketing gimmicks, there are lots of golden nuggets in the NFT market. When you’re ready, here’s how to go about it:

Investing in NFTs can be expensive. Therefore, it's important to pick NFTs that are within your budget and risk appetite. Don't blindly invest in a "blue-chip" project just because it has given investors high returns. The best advice is to look at a project from a potential ROI (Return on Investment) perspective. If you're an early entrant in a project, you're more likely to get much better returns from smaller projects, compared to projects that have already gone mainstream.

After setting a budget, look around for a platform that can give you an overview of potential NFT projects. For instance, 

 is an upcoming platform that ranks projects on the Solana NFT blockchain, based on 18 factors. Its objective is to filter potentially successful projects with high ROI. There are lots of other platforms built around this concept. OpenSea and Nansen are just a few more examples to consider. 

Once you've shortlisted the potential list of NFT projects, the first attribute to look for is the project’s utility. NFT projects with utility offer perks that go beyond dollar value. These NFTs are more than artwork, because owning them provides added value by giving access to exclusive members-only events, ownership of special characters in a game, dividends, unlocking limited-time experiences, and other perks. There’s no doubt that project utility is the defining feature of a potentially successful NFT, because these projects continue to attract more investors by increasing their brand valuation.

Joining an active NFT community and following top NFT collectors is another way to get insight into upcoming projects. Popular NFT groups usually have a paywall, which is reflective of the value they can provide to their members.

A vibrant community also ensures that the NFT project gets off the ground successfully. In the NFT market, community members are like customer service reps who can answer your most pressing questions and offer practical guidelines regarding useful investment strategies. Don't take numbers for granted; instead, judge an NFT by the number of active members it has, as well as its buying and selling activity.

Good NFTs never stay dormant. You can judge an NFT by viewing its social proof. Almost every new and upcoming project uses Twitter to post important news and events.

NFTs have just started to go mainstream. Therefore, it's imperative that you carefully look at the work experience of its founders and team. To be on the safe side, only pick projects that have a credible team that has worked on successful NFTs in the past. The more experience the team has, the more likely the project will succeed.

Only invest in NFTs that have a clear, transparent and detailed road map that you can understand. The road map should define specific milestones, and any changes must be communicated clearly to all stakeholders.

Whenever you create, buy, sell and transfer NFTs, you have to deal with the gas fees. These are essentially transaction fees which are unavoidable and keep fluctuating. Many investors end up on the losing side because they never consider these transaction fees in their plans. Before venturing into a project, try to evaluate what you’ll need to pay for a gas fee. Certain tools, such as Rarible Analytics and NFT Gas Station, can help you trace such expenses.

If you're interested in investing in an existing project, look for an NFT’s floor price. The floor price is the minimum amount required to become a member of a project. If the floor price is consistently going down, it means that the project is losing its demand. Theoretically, the floor price of a project will rise during its lifetime. Floor Checker and NFT Price Floor are just a couple of the many platforms which can help track floor prices.

Investors with deep pockets often look at the rarity score of a specific NFT. The NFT rarity ranking measures how rare an NFT collection is. Rare NFT collections yield greater ROI in the long run.

Like any other investment, an NFT is prone to fail if it doesn’t have a solid foundation. Perhaps the first indication of a doomed project is that it doesn't provide any utility or benefit to its investor. For instance, it's always risky to invest in an NFT just for its aesthetic value unless the NFT collection has already gained traction and amassed a lot of value.

Similarly, NFTs that don't provide investors tangible benefits are a telltale sign of failure. An NFT project that lacks liquidity will also underperform, because you need buyers who will buy your NFT in the future. A small community is also a risky proposition because without a robust community of users, there is usually little or no buying and selling. Consequently, such NFT projects can fail to get off the ground.

As you can see, NFTs are gearing up to become an important commodity in the near future. NFT applications are already blending online NFT ownership with offline use cases to make NFTs more valuable.

Despite these innovations, remember that purchasing NFTs also depends on personal taste and choice. Sometimes, it doesn't have anything at all to do with the money. People buy NFTs for various reasons, including personal connection and passion. At the end of the day, we recommend you buy NFTs that you enjoy owning — because their intrinsic value will never decline.

10 Things to Consider Before Buying an NFT

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