Web 3.0 is full of potential opportunities to be part of the tech and at the same time earn your fair share (incentivized economy).
From flipping NFTs to trading cryptocurrencies and providing liquidity to earn some fees and interest, there are a lot of ways you can earn money. To be more precise, earn tokens.
But what’s very hard is to find new potential projects and at the same time, keep track of all the investments that one makes.
For example, the floor price of an NFT collection that you bought can drop 70% in one single night. A potential project can get the rug pulled after a massive liquidity success.
Well, the point is unlike stocks where one just invests and waits for a few years, crypto is very volatile and one needs to check at least on a daily/weekly basis on what’s happening in the projects that an individual invested in.
And I am gonna help you do that easily. I am gonna talk about some of the tools that you can use to save some time, tools to let you keep track of all your web 3.0 investments, and also tools to find some new web 3.0 projects that you can invest in.
Disclaimer: Anything I say will never be financial advice. Always do your own research
Let’s talk about the NFT tools first. While most people might say Bitcoin or Ethereum is the reason for getting into crypto, mine is NFTs. The technology behind it really drew my interest.
Twitter is where all the NFT shills(promoting NFT projects) happen. People are taking an active part in promoting and talking about the NFT projects that they created and purchased and that’s how you are gonna know about what’s happening in the NFT space.
Follow as many influencers as you can and spend some time scrolling the tweets if you want to find something that you want to buy. Almost all the NFTs that I bought are because of the Twitter shills.
But, you need to DYOR. What do I mean by that?
Every NFT project will have a discord group. Read some messages in the chat and see what people are saying about the project, check out the links (most NFT discord groups have a channel “Offical Links”), roadmap, utility, etc.
My advice is to never ever buy directly from twitter considering that there are a lot of scams out there. Go to discord, DYOR, and then decide. Make sure you click on the links in the official discord channel.
If you are wondering how NFTs are valued or where they get their value from, here is an article that should guide you well on that topic.
Remember what I said in the previous section? Follow as many NFT people on Twitter as you can. And once you get used to their tweets, shills, and judgment, it’s time to find some ETH addresses or ENS names of people that you trust.
Just spy on them. See what all the NFT projects they are minting on etherscan.io and moreover, you can add all these addresses (maximum 25) to the watchlist and set email alerts too if you want.
Related read: How To Use Etherscan To Evaluate Cryptocurrencies & NFTs: Full Guide
Rarity.tools is the place where you can find all the latest NFT collections. This is great just to have a look at what kind of projects are being minted, and you’d know the details like how many owners and total volume (in ETH).
You can also look at the upcoming collections too and then grab one (after DYOR) if you find something interesting.
SuperSea is a google chrome extension (works for Brave browser too) that helps you to track the floor prices of the NFT collections that you own or your favorite NFT collections.
Instead of clicking on every collection floor to see the floor price, you can just see the floor prices on your profile and favorites list on OpenSea. See the image below:
Just check the collected and favorited section in OpenSea to see the magic of Supersea.
Imagine minting the rarest NFT and then selling it for a small profit. That would be a pain, right? Rarity Sniffer can help. Just search for the collection on that website and enter the NFT ID that you have minted. (You can check the NFT ID from your Opensea profile).
You might have invested in 10 different currencies and put them on 10 different wallets or 5 different Mainnets (ETH Mainnet, AVAX Mainnet, Matic Mainnet, etc). So how do you know how much worth of coins you are holding?
Moreover to check the staking rewards you earn you need to go to each staking pool to see how much you earned.
I am gonna save you from all of that hassle.
When I was new to crypto I tried a few websites (or apps) that can track my crypto holdings, but Coinmarketcap has been my favourite.
You need to manually add all the holdings that you have, but that’s ok. Unless you are someone who sells or buys crypto every day, that shouldn’t be a problem. This tool simply shows us how the total portfolio is doing (profit/loss) and how much loss/profit.
Just make time once a week to update what you are holding just to have a rough idea of what your total crypto net worth is.
And also make sure to add your favourite coins to the watchlist so that you can keep track of how they are doing and probably can buy them when you see a dip. Oh! Make multiple watchlists based on category if you have a lot to follow.
Just connect your Metamask wallet to Zapper.fi and you’ll see how much your Metamask wallet is worth. It gives you the list of all the coins you have in multiple mainnets like Eth, Matic, Avax, and, Arbitrum mainnets. And also how much amount you are staking in the pools, list of NFTs you own, and whatnot.
Simply put, this is a must-use tool for all crypto people.
It’s pretty hard to know what Defi projects are coming into the market or already exists. Defilama keeps track of almost all the Defi protocols. And that too, not just on the Ethereum network, but on multiple blockchains.
Along with the option to sort the protocols based on TVL, Blockchain, etc. each protocol has a list of official links(website, Twitter, etc). And I think that makes this tool a must for liquidity providers.
We are not done with spying. What if you want to see what other coins people are staking, what LPs they love a lot, and of course what NFTs they are holding. Well, you need to go to Debank for that.
You can also follow those addresses so that every time you don’t have to search for the same address.
Web3 rewards early adaption, unlike web2 where the value is generated when all the people adapt or become part of the network like Facebook and Google.
What’s an Airdrop? It means you get tokens for free as a reward for using a protocol or bridge or a DApp. These rewards can be life-changing sometimes.
So, to make sure you don’t miss upcoming airdrops, I’ve some tools which you use to track and find potential airdrops.
Defilama has an “Airdroppable Protocols” category where you can see all the protocols that haven’t released their token yet. And that means, if at all there will ever be a token in the future, there is a more probability that users who tried those protocols will get some tokens airdropped.
The conditions for someone to be eligible for an airdrop can range from making a transaction or a swap to providing liquidity.
Airdrop Alert lists a lot of web3 apps and protocols that might have an airdrop. Airdrop.io is another good site where you can find some tools based on rumored airdroppable apps.
Upcoming ICO Drops: https://icodrops.com/
From managing your crypto and Defi portfolios to staying ahead in the world of NFTs, I believe these tools will help you navigate the world of web3 easily. I hope you find these tools helpful.