I'm a product designer and developer for Web3. I'm one of the creators of the [Community of Creators](https://arthentic.co).

How to Buy into an NFT Community Collection

**Tldr;**

1. **The Basics**
   1. **Twitter, Discord, Website**
   2. **Blockchain**
   3. **Multiple NFT Marketplaces**
   4. **Roadmap**
   5. **Whitepaper**
2. **Tokenomics**
   1. **Floor Price**
   2. **Current Value**
   3. **Valuation of the Collection**
   4. **Growth Potential**
3. **Community Engagement**
   1. **Founders**
      1. **Self Doxed**
      2. **Involved**
   2. **Members**
      1. **Minimal Politics**
      2. **Welcoming**
      3. **Involved**

**Foundational Stuff**

Before we start analyzing spreadsheets and constructing graphs, there are a few preliminary checks to consider. Does the project have a good brand that appeals to you? Do you like the technology the project uses? Do you believe in the project’s mission?

Twitter, Discord, Website

Every important PFP(Profile Picture) NFT project has a web presence. Twitter is useful for discovering new NFTs and seeing what the different spaces are talking about. Discord has been used to organize communities with the feature to have exclusive chats for members. The last thing that I look for is a website that describes the project’s purpose and plan.

Blockchain

Where the NFT is made makes a world of difference. Ethereum is the main network that people use today, containing around *80% of all NFTs([source](https://www.coindesk.com/business/2022/01/19/jpmorgan-says-ethereum-is-losing-nft-market-share-to-solana/))*. One of the main problems with Ethereum are the transaction fees, known as Gas, which can cost hundreds of dollars which has led to a few alternative chains. Polygon is a *Layer 2* solution that charges zero gas using [PoS(Proof of Stake)](https://docs.polygon.technology/docs/home/polygon-basics/what-is-proof-of-stake) technology. Another cheap and fast, non-ethereum based, blockchain is Solana.

Full disclosure, my company [Arthentic](https://www.arthentic.co/) uses Polygon to mint NFTs for our artists.

Multiple NFT Marketplaces

The next thing to look at is how many NFT marketplaces the project is listed on. The top marketplace is [Opensea](https://opensea.io/) with over 600K users. Other important marketplaces include [Rarible](https://rarible.com/), [Nifty Gateway](https://niftygateway.com/), and [LooksRare](https://looksrare.org/). Marketplaces are constantly evolving so make sure to pay attention to any emerging competitors. 

Roadmap

Every good project should have a plan and NFTs are no different. As a potential investor, you should know where the project is headed, and what financial rewards you’ll receive. Roadmaps are usually found on the web page and linked in the discord.

Whitepaper (Optional)

While a lot of NFT projects don't have a whitepage, this detailed document shows the project is a serious contender for investment opportunity. This detailed document will have research to back up their roadmap and calculations of expected returns for members.** 
 **

**Tokenomics**

Floor Price

How much does it cost to enter and buy one NFT? This is the floor price. It’s important to consider that many projects have membership tiers, where holders of a specific number of NFTs get more exclusives.

Current Value

How much money has already been raised by the project? This is the number one metric for finding out how popular the project actually is. If most of the NFTs have been bought, that’s a great sign the enterprise will take off.

Valuation of the Collection

How much money is the whole collection worth? Is the total value worth what the project proposes to do? 

Growth Potential

Is the project going to rocket off? This is based on both popularity and potential. If there’s a lot of hype but the project doesn’t do anything, or the project is fantastic but has no following, don’t invest in it. These projects may improve in the future, but it’s a risky investment. NFTs that have a clear path to financial growth are the only collections worth looking at.

**Community Engagement**

Founders

The leaders of your NFT project should be kno

ENS, The Journey So Far

**“What is this {name}.mirror.xyz, and why is all of crypto-Twitter using it?”**

Alright, so I’ll be the first to admit, this isn’t the first time I’ve played inside **web3**; however, this is the first time I actually used the mainnet. If you’re curious, the mainnet is where blockchains actually run. A testnet allows developers to test their code before actually launching it.

The first thing I bought was a Ledger Hardware Wallet which allowed my funds to be safe while giving me the courage to start investing in the new internet! 

*While I picked Ledger, both [Ledger](https://shop.ledger.com?r=46825ce7ebf2) and [Trezor](https://trezor.io/?offer_id=12&aff_id=10868) are reputable companies that my communities rely on. -Affiliate Content*

![I picked Ledger because I found a great deal on the new Nano S Plus and the company has been known in the crypto space for their reliability and simplicity.](https://images.mirror-media.xyz/publication-images/7hZjKCd83FoBSw5KG0WiV.JPG?height=1280&width=960)

**When I signed up for Mirror, one of the first options I got was to add an ENS domain. But let’s step back, what is [ENS](https://ens.domains/)?**

ENS stands for the Ethereum Name Service and acts like a phone number for your wallet address. Let’s say your crypto wallet’s address is 0x76…58rRd, ENS could make it so {your name}.eth links to that address, so if someone wants to pay you with crypto, they can type {your name}.eth instead of ‘0x76…58rRd’. I'm all about unified branding, so let’s do it!

![To start our journey, we’re going to need some Eth, which I bought using MoonPay on Ledger Live](https://images.mirror-media.xyz/publication-images/QkXgm30WmbdNCd7RfvP1h.png?height=497&width=598)

Now that we have some funds, let’s head over to **app.ens.domains** to buy our brand name. I picked nikhildesigns.eth, which, luckily, was available meaning it would cost 5$ per year, as well as transaction costs, known colloquially as gas.

![Buying an ENS](https://images.mirror-media.xyz/publication-images/g8n1w8o-Iujc1PWFrXt4o.png?height=347&width=1427)

Once the transaction completes, which is in two parts (explained on the ENS site); congratulations, you own an ENS domain name! Now we need to set up the **reverse register**, which allows web3 apps to use your ENS instead of your wallet address. This is found right at the top of the ENS portal, inside your domain, seen below.

![By selecting your ENS, all web3 apps will know that this ENS belongs to your crypto wallet. ENS is like the address book of Ethereum.](https://images.mirror-media.xyz/publication-images/I0RMScHdrLUgbeazP7RKz.png?height=267&width=1362)

**When picking a reverse register, remember only one ENS can be attached to your wallet address.**

![Even though the ENS register shouldn’t cost any gas, it does if you want the transaction to process.](https://images.mirror-media.xyz/publication-images/Y3NpvZUu-F5xYOQipfBu6.png?height=312&width=306)

Gas is probably the biggest downside of using ethereum to interact with web3. While the Ethereum Group is working to alleviate this burden with PoS (proof of stake), this isn’t really in the scope of the article. (I’ll write on this later!)

**Now that the heavy lifting is done, let’s head to a web3 app, like [UniSwap](https://uniswap.org/) to see if it worked.**

![We should always double check that our work on the blockchain actually worked.](https://images.mirror-media.xyz/publication-images/OS3DGQ7L5qjn4L3QHeaOh.png?height=945&width=1920)

**As of right now, you have a complete, working ENS that can serve your brand, but we can do better, can’t we?**

The ENS service also has a set of Text Records, which allow you to attach relevant brand info to the domain. This includes items like twitter and discord handles, as well as a mysterious section called Content.

This is where we can link a decentralized website, so when users go to {your name}.eth.link, they’ll see that site.

![Website Dev in Visual Studio Code](https://images.mirror-