In late 2021 and into 2022, average NFT monthly trading increased significantly from $64 million at the start of 2021, to several billion dollars on NFT marketplaces like OpenSea.
To capitalize on the accelerated growth of NFTs, even some amateur traders and artists are flipping NFTs for a profit. What is ‘NFT flipping’ though? It simply refers to when NFT is bought at an affordable price and then sold, or ‘flipped’ at a higher price.
If readers also want to learn the art of how to flip NFTs for profit, read on to learn about the best NFT marketplaces for flipping, the basics of how to flip NFTs, things to consider before selecting any NFT for flipping, and more.
How to Flip an NFT- Quick Guide
- Select NFTs to Flip: Firstly, decide which NFT collection you want to invest in for flipping. You could buy NFTs on the basis of many factors such as its artwork, supply, utility, creator’s credibility, a trending theme, or an affordable floor price – then for a specific NFT token, its rarity and traits
- Choose an NFT Marketplace: After deciding on the best NFT to flip, go to the NFT Marketplace where that collection is listed. To pay for your NFT purchase, first link your wallet to the corresponding marketplace and pay through Ethereum or any other crypto such as Solana. We suggest buying ETH and SOL via the eToro platform
- Buy an NFT: Once you have connected your wallet with an NFT marketplace, purchase the respective NFT. For NFT artists, mint your NFT to flip and list it on a marketplace
- Flip an NFT: Since you’ve purchased an NFT, it’s time to plan when and where sell it for a profit based on market conditions and availability of buyers. Sell your NFT at a higher price to make a good return on your investment
Your capital is at risk
Best NFTs to Flip in 2024
It’s important to invest in good NFT projects for faster and more stable profits from NFT flipping.
Flipping NFTs is a risky but quick strategy to increase your wealth once you have experience. Keep a diversified portfolio as a back up – hold some Bitcoin and other crypto assets as well as producing and accumulating tokenized art over the long run.
Below we have listed some of the top NFT projects that present profitable flipping opportunities for NFT traders:
1. Lucky Block NFTs
Overall, the best NFT to flip currently is the Lucky Block Platinum Rollers Club. The Lucky Block crypto project is a decentralized crypto games and competitions platform that lets players from all across the globe participate in its play to earn gaming format – which takes the form of a daily prize draw – running on the Binance Smart Chain using smart contract technology.
In this project, the NFTs is presented as mp4 media files, each of which shows your special bonus code – its utility is entry to the daily prize draw for holders. Users will receive cash if their number is drawn. A 2% portion of the main Lucky Block jackpot – which holders of the project’s native token LBLOCK receive free tickets to – is put towards the NFT jackpot.
Blockchain-based technology also ensures that every Lucky Block game is completely random, impartial, and unaffected by fraud – more transparent than similar centralized gaming platforms.
There are only 10,000 tokens in the Lucky Block NFT collection total supply – that are entirely exclusive and limited edition. Users who purchase a Lucky Block NFT are eligible for a number of additional perks and rewards such as partial revenue from each jackpot – similar to NFT staking.
Like cryptocurrency assets, the price of these NFTs has the potential to increase over time and offer a strong return on investment (ROI). Initial investors who purchased Lucky Block (LBLOCK) during the presale profited by 65x increase earlier in 2022, and its valuation is still 10x above presale today.
So if you are looking for the best NFT to flip this year, Lucky Block has shown it has stood the test of time and the value of its NFTs may also experience a similar bull run and increase in value.
Since the amount of NFTs help increases the odds of winning prizes in each daily draw, there’s added potential for NFT flipping – by finding a buyer who wants to own several. Their floor price is also accessible – currently 3.75 BNB (priced in Binance Coin) currently around $840 in USD terms.
Your capital is at risk
2. Bored Ape Yacht Club (BAYC)
On the Ethereum blockchain, there is a series of NFT (non-fungible tokens) called Bored Ape Yacht Club (BAYC), also referred to as Bored Apes. The BAYC NFT series displays a set of digital versions of apes and mutant apes created by computer algorithms.
Holders of the Bored Ape NFT are given an exclusive membership to a closed online group and IPR for their works of art. The BAYC project’s development in value and sales, which have reached over $1 billion, demonstrate its success. Bored Ape NFTs have also been bought by famous people like Post Malone and Elon Musk.
The worth of this project is currently only expected to increase as more stars and entertainers jump on the BAYC wave. In terms of the sales figures, 10% of the Bored Ape Yacht Club NFTs were bought for $223k or less, and less than $254k accounted for 50% of all sales. The top 10% of the tokens were sold for $367k or more.
Bored Ape #2087, which was bought for $2.3 million (769 ETH at the time of sale), has the highest Bored Ape NFT price ever recorded. Going on similar trends, BAYC is predicted to touch the mark of $100,000 in the upcoming times. This is why it could be the best moment for any NFT lover to capitalize on these NFTs by flipping them at a higher price later on.
3. CryptoPunks
The entire collection of CryptoPunks contains 10,000 different collectable characters. They come in a wide range of sizes, shapes, and colors. Although most CryptoPunks NFTs feature humans, some also feature apes, monsters, zombies, and extraterrestrial species. CryptoPunks are valued differently based on their characteristics, with some being more costly than others.
There seem to be eight CryptoPunks in the collection without any traits, and nine of them are aliens. Another 24 seem to be apes, 44 are wearing beanie hats, and 48 are wearing chokers. Among the remainder, 128 have pink cheeks, and 78 have crooked teeth.
One of the first NFT items to appear on the Ethereum blockchain in 2017 was CryptoPunks. CryptoPunks NFTs are typically near the top of the leader board as the original NFT collection, with an average selling price of between $350,000 and $500,000. However, many Punks have been brought in millions of dollars, with Sotheby’s recording the highest authentic sale at $11.7 million.
CryptoPunks could break its all-time high record and exchange for more than 5,000 ETH in 2022 if predictions come true. Since the price of these NFTs is quite high, you must only go for flipping these NFTs if you can afford these NFTs.
4. Lazy Ape Society NFT
About 1000 NFTs—distinct digital collectables—make up the Lazy Bored Apes collection, which exists on the Ethereum blockchain. Every Lazy Ape is distinct and computer-generated from more than 100 conceivable qualities, such as facial expressions, attire, and headgear.
In reality, a lot of famous people, including Jimmy Fallon, Eminem, and Snoop Dogg, had already bought a Bored Ape Yacht Club NFT. In light of this, the Lazy Ape Society series would rank among the top NFTs to flip if it is even remotely as popular. Ten thousand tokens in various designs will be part of this series as well.
When compared with the rates that Bored Ape Yacht Club tokens are trading for, Lazy Ape Society NFTs may be purchased at an inexpensive price, and users can try to flip this NFT without having to take a considerable financial risk.
Your capital is at risk
5. Ballies Origins NFT
Ballies Origins is a collection of 9,999 entirely original basketball characters created by an algorithm from more than 170 hand-drawn qualities. They have the performing abilities to participate in thrilling basketball games.
The two levels of rarity for balls are Basic and Advanced. Obviously, the more desirable an NFT is on the open market, the more rare qualities it possesses.
Users receive elite access to the Meta-Court metaverse, which offers a variety of benefits and advantages. They have the chance to win the first-ever NFT 2.0 basketball games and tournaments, take part in exclusive interviews with basketball players, profit from unexpected giveaways and contests, and join a cool network.
Ballies Origins NFTs have been traded on the platform of Crypto.com, the marketplace where the series is hosted, for more than $5 million as of now. This NFT’s floor price is only $110, making it a fantastic entry-level flipping opportunity for new investors.
Your capital is at risk
Best Platforms for NFT Flipping in 2024
It is important to select the right platform for NFT flipping, which is why we are here with our list to suggest you the right place for flipping your desired NFTs:
1. Crypto.com
The 2016-founded cryptocurrency exchange Crypto.com also features a built-in NFT marketplace. Snoop Dogg, BossLogic, Boy George, and Axel Mansoor are a few of the prominent figures and artists Crypto.com has collaborated with. On the Crypto.com NFT marketplace, users can make, display, sell, and buy NFTs, even for as little as only $1 at auction (starting bids).
The Ballies Origins as well as hundreds of other NFTs are all available on the platform. There are no commission fees applied while purchasing NFTs on Crypto.com. As a result, before you choose to put your NFT on the secondary market, you will save income by doing this.
Crypto.com also distinguishes out since it accepts payments in both cryptocurrency and fiat cash. The exchange allows for both debit/credit cards and bank transfers, making it simple to deposit money even if users don’t already have any digital assets.
As far as the secondary market is concerned, Crypto.com will only charge a fee of 1.99 percent of the transaction cost when you exchange NFTs on that platform. This is why for each $100 your NFT sale generates, this comes out to merely $1.99. You can produce and create your own NFT on Crypto.com along with flipping.
Your capital is at risk
2. NFT LaunchPad
NFT Launchpad, a recently unveiled NFT marketplace, supports a number of blockchains, including Binance Smart Chain and Polygon, as of now, with the integration of additional blockchains to come.
NFT Launchpad was by far the finest platform for flipping NFTs overall. Importantly, this marketplace was selected to sell some of the top NFTs that we previously highlighted, such as CryptoPunks, Bored Ape Yacht Club, Lucky Block, etc.
Artists can choose their own royalties and levels of rarity, and they can sell NFTs at auction or for a predetermined “buy now” price. Creative art, entertainment, multimedia, gaming NFTs, artefacts, collectables, photography, and other collections, including those in the sports, utility, and virtual communities categories, are just a few of the NFTs that may be purchased.
The platform will also properly examine every project that applies to the list on its marketplace, ensuring that it only supports reliable NFTs. The platform’s ease of use is another aspect of NFT Launchpad that is appreciated by its users. This marketplace is also the home to more accessible and affordable NFTs.
This indicates that users shouldn’t have any problems flipping NFTs, even if it’s their first experience. You must initially select the NFT that appeals to you if you want to flip NFTs on this marketplace. The website of this platform needs to be connected to your MetaMask wallet.
All that is left to do is make sure that you have sufficient wBNB tokens in your MetaMask wallet to pay for the NFT transaction and then complete the process. Afterwards, at a price of your choice, you can decide to flip your chosen NFT. You have the choice between a fixed listing and an eBay-style auction on NFT Launchpad.
Your capital is at risk
3. Bybit Marketplace
The NFT Marketplace by Bybit is a complete, user-friendly marketplace that makes it simple for creators all around the world to sell and trade NFTs. Direct access to quality NFT compilations from different artists, including special Bybit-supported initiatives, is provided via this marketplace.
Only ERC-721 token NFTs are recognized by Bybit NFT Marketplace as of now. The Solana (SOL) and Ethereum (ETH) blockchains are currently supported for listing NFT on Bybit’s NFT Marketplace.
For all NFT sellers, Bybit levies a 1% trading fee. Sellers are required to pay the creator a royalty charge. All NFTs exchanged on this platform are generated on the Ethereum blockchain. Currently, the self-minting of NFTs on the Bybit NFT is not supported. The checkout process at the Bybit NFT marketplace is straightforward and user-friendly.
Simply use the token used to purchase the NFT, such as ETH, USDT, or BIT, to make the payment. Accessibility for trading in the Bybit NFT Marketplace is available to anyone who already has a Bybit Spot Account. However, in order to start flipping NFT, you first need to create an account if you are a new member and haven’t yet established an account on Bybit.
Your capital is at risk
Is NFT Flipping Profitable?
We think that flipping NFTs is the best strategy to make money for a lot of reasons. It primarily enables folks to take advantage of the full extent of NFTs’ potential. An NFT can be flipped by users so they can handle, exchange, and employ it in unique ways that increase its worth.
Also, users can manage their own data through flipping. The data related to an NFT belongs to the owner. Due to the intrinsic demand that results from NFTs’ rarity, there are several possibilities to sell them for a profit on marketplaces like NFT Launchpad, Crypto.com, and a lot more.
How to Find the Best NFTs to Flip?
NFT flipping has the potential to be very lucrative. The hardest part is deciding which NFT to purchase for flipping. Since there are countless NFTs available for trade on different NFT exchanges, this industry is soon getting overloaded.
A thorough market analysis is thus the most crucial step in the NFT flipping process. You will increase your chances of making money by doing this. This portion of our tutorial will go over everything you could want to look for in the process of research if you’re really unclear about how to identify the best NFTs to buy for flipping purposes.
Utility
It is important to analyze the utility of the NFT project before you buy it. Look for the advantages and rewards provided by the project to its purchasers. The benefits provided by NFTs spark interest and increase demand for NFTs.
The lack of usability that arrives with ownership is a serious problem that many of the NFTs have in common. This will directly affect the NFT in the picture’s potential price.
Supply of NFT Tokens
Supply is a key factor that might impact price in the classic investment model. As a result, the quantity of tokens that have been issued is the first factor to consider while looking for the greatest NFTs to flip.
And anyway, if you purchase an NFT with a large supply, it could be challenging to sell it for a gain.
Creator
Verify the credibility and dependability of the project’s creator. Reject projects from anonymous contributors, and learn more about the team’s history. Screening the legitimacy of creators is extremely important for your success and investment, given the prevalence of NFT scams.
Theme
The theme of the particular collection is yet another factor to take into account while figuring out how to discover NFTs to flip. For instance, there is indeed a good possibility that the popularity of the Bored Ape Yacht Club equivalent will make potential investors interested in the Lazy Ape Society NFT collection.
Association
An NFT project’s likelihood of success is significantly increased by affiliation with a well-known individual or business.
For instance, the reason why Bored Ape Yacht Club is so well-liked is due to its patrons, who include Stephen Curry and Logan Paul. Your NFT investment will be distinguished if it is connected to well-known figures.
Floor Price
Regardless of the flipping possibilities that an NFT presents, you won’t be able to profit if your budget does not allow you to pay the NFT’s floor price. This is why it is always advisable to invest in only those NFTs whose price you can afford to bear.
How to Flip an NFT- Step-by-Step Tutorial
Given below, you can find the step-by-step tutorial regarding how to flip NFTs and can understand how the procedure actually operates:
Step 1: Install the eToro wallet
Firstly, you will be required to install the eToro wallet or any other wallet such as MetaMask that you prefer.
Step 2: Add Ethereum
The Ethereum must then be added to eToro Wallet. It is so that Ethereum may be used to acquire the top flipping projects on NFT Launchpad, Opensea and Crypto.com like Lucky Block. Add the necessary information by clicking “Add Network.”
Step 3: Send Ethereum to MetaMask
Using the NFT Launchpad to purchase NFTs requires Ethereum. Send the Ethereum tokens to your eToro wallet address if you already have Ethereum. The alternative is to purchase Ethereum from eToro, Binance and then send them to eToro Wallet.
Step 4: Establish a Connection with NFT Launchpad through MetaWallet
On the NFT Launchpad website, search for the “Connect Wallet” icon. Choose “eToro” by clicking it. Afterward, a Google Chrome alert from your wallet will appear. Once it happens, make sure NFT Launchpad has your permission to join.
Step 5: Select NFT to Flip
You must decide which NFT you want to purchase in order to flip it. You can enter the name of the NFT into the search window once you have decided which NFT you want to flip.
Step 6: Purchase NFT
You must now pay for your order after selecting an NFT to flip. When the eToro message displays on your screen after pressing the “Buy Now” icon, complete the purchase.
Step 7: Flip NFT
Flipping your selected NFT is the process’s last step. You don’t require to send your NFT to a different marketplace because you may do this immediately on the NFT Launchpad platform.
Conclusion
The practice of flipping is not new. The latest and most well-liked products on the market right now are NFTs. With the increasing demand for NFTs, people have become more interested in flipping NFTs. Everyone wants to make money by purchasing their favourite NFTs at a low price and then selling it at a higher value to make profits.
Instead of collecting NFTs or using them as long-term investments, NFT flipping intends to exchange them for a quick return. Users should invest in high-volume NFT collections for quicker flips, along with bitcoin and other crypto assets, or create and gather digital art pieces for quick earnings.
Flipping NFTs is a relatively quick approach to increasing your investment, notwithstanding the hazards involved. Flipping NFTs is an easy process to follow. You require a Web3-compatible wallet, such as eToro or Metamask. Knowing what to trade and when to sell NFTs is crucial for flippers. Make you select the NFTs to flip after doing some extensive research from your end so that you secure good chances of making money for yourself.
FAQs On Flipping NFTs
How can users flip NFTs at OpenSea?
You just have to go to OpenSea and search for the NFT that you would want to sell later at a high price. You can purchase an NFT directly from Opensea or from some other marketplace. In any case, you can sell your NFT on Opensea for a set price or through an auction listing.
How can users flip an NFT?
Firstly, decide the NFT you want to flip, then purchase that NFT from the NFT marketplace. Once you've bought an NFT that you would want to flip, you can sell it on any secondary marketplace for a better price to make a profit.
What are the best NFT flipping platforms?
Based on our research and analysis, NFT Launchpad, Bybit, and Crypto.com are some of the best NFT flipping platforms to start with. Users can easily purchase and sell their NFTs at a higher price on these platforms.
Is NFT flipping profitable?
We consider that flipping NFTs is the best strategy to make money. Owing to the increasing demand for good NFTs, one will find no difficulty in selling one's collection at a higher price in any NFT marketplace.
How do you get the best NFTs to flip?
There are some factors that you must consider while purchasing any NFT to flip. You could purchase NFT on the basis of many factors such as its supply, creator’s credibility, trending theme, and affordable floor price.
