If you are familiar with NFTs or have spent any time in this marketplace, you have likely heard one of the best strategies for flipping NFTs is to get whitelisted. While this is an excellent strategy for getting into new and hyped projects, it often involves a lot of time waiting for the project to be released, not to mention many whitelists require participation for whitelist access as well as some projects even require payment to get in.

This guide focuses on a strategy you can start today without having to wait for the launch, requiring access to a whitelist or having to be a member of an Alpha group.

No Whitelists, No Lucky Mint, No Alpha Groups Needed

This guide will walk you through the steps to finding and buying into an NFT collection growth potential and then flipping it for profit.

Finding & Flipping NFTs for Profit

What I am about to show you anyone can perform. It doesn't require any special skills and much of the challenge is simply knowing which tools to use and how to use them. This is a daily practice that should take less than an hour a day.

Let's get started...

The best method I have found for quick profitable flips is with Solana NFTs.

OpenSea is the world's largest NFT marketplace catering to many different chains. For many people, it's the first marketplace most people visit for new and trending collections.

This "Quick Flip" strategy, also known as Platform Arbitrage is simply buying a Solana NFT listed on Magic Eden and then immediately reselling it on the world's largest and most popular marketplace - Opensea. The process takes less than a minute to complete, using the Phantom wallet and there are no gas fees and minimal transaction fees involved.

How to Quick Flip with Platform Arbitrage:

The first step is to find a solid collection on Magic Edan Marketplace (Solana chain) and then immediately resell it on OpenSea. The difference in floor price between the two marketplaces can be anywhere between 10%-40%, depending on the collection.

For Example:

The Skullbot Biker Gang has a floor price of 7.5 SOL on Magic Eden

On OpenSea, the same collection has a floor price of 9.39 SOL

The difference is 1.89 SOL (~22%) or about $100.

If you are able to repeat the process 5 times in one day, that's about $500.

Using a Phantom Wallet

The reason this strategy works is there are no gas fees with Solana and almost nonexistent transaction fees. Once you have purchased the NFT on Magic Eden, using the same Phantom wallet, log into OpenSea and the NFT will be available to be listed. Simply list the NFT for sale on OpenSea.

Before entering any market, it's important to know where the market is going. Fortunately, the NFT market is booming, but it may not always be that way. Some days or weeks are more profitable than others and it depends a lot on the market sentiment.

To get a feel for the market and where it is trending, Flips Finance offers a great 24-hour market pulse, to understand the change in floor price, change in NFT volume and number of listings. The site also offers a 7-Day and 30-day historical view of the NFT market based on the top +200 NFT collections.

The best time to buy into the market is when the floor price is trending upward and volume is trending upward.

If it looks like a good day to trade, let's begin...

Find a Trending Collection

Magic Eden will be the marketplace we will be looking for Solana NFTs.

Top Ranked SOLCollections by Magic Eden

The collection is already sorted by Volume. The next step is to find a project which is within your budget while trying to stay within the top 20 listed collections.

Every day this list will change and new NFT collections will be added. So if you don't find something you like or within your budget for a particular day, try back later in the day or the next day as top collections are highly volatile and change often.

Once you find a collection with a high transaction volume and within your budget, the next step will be to validate the collection.

Step 2: Validate the Collection

At this point, you should have found a few collections which are within your budget and have the potential for a quick flip. Step 2 is about validating the collection and determining if it is worth purchasing. It is also about having a strategy to avoid impulse buys - which is very easy when it comes to buying NFTs.

Check Social Profiles:

From the Marketplace collection profile page, you will find the social links for the collection. It's time to check their website (if available), Twitter profile and discord community.

Website

Website quality is important and it should look professional and have excellent artwork. The website should be clean, concise and easy to navigate. The website should have an About Us, Roadmap and Team page. When looking at the website, you should be asking yourself, does this project have a future? Are there plans or development in place to make the collection more valuable for future investors? Is it just a neat image or is there any utility in the project?

If the website already has investors listed, this is a good (long-term) sign, especially when well-known investors are involved.

Twitter

The two most important metrics for Twitter are their followers and how often they tweet. Ideally, the project should have more than 10k followers. The greater the Twitter following, the larger the market to flip your NFT to.

Discord

Log into the discord and take a look around. How large is their discord and is it an active community?

Visit Minty Score and if the collection is listed on their website it provides a nice graphic on the growth of Twitter and Discord, which will help with determining the trend.

Confirm Collection Trending

In OpenSea or Magic Eden you want to check how the collection is trending. Click on "activity" and it will show the average price and volume. An ideal project is one where both the activity and volume are increasing.

Also, on the same page, the sales activity shows. Its important to make sure there are many daily sales taking place which will help to ensure there is a market for when the time comes to sell the NFT.

What is the Utility?

The most successful NFTs are those which have utility. That is, they offer more than just a pretty picture. The greater the utility the better the chance for long-term value appreciation of the NFT. When looking for a collection to buy into, make sure it has utility.

Did Your Collection Pass the Validation?

If you are not sure about the potential future success of the collection, that's ok. Go back to Step 1 and repeat the process and find another collection.

Each time you repeat this process and become more familiar with the market and the collections within the market and as you repeat this process your ability to pick a successful collection will increase.

Finding the right collection is the most important step in this process, so make sure you are comfortable with your decision before moving forward.

Purchasing Your NFT (Magic Eden)

After you have connected your wallet, navigate to the collection you are looking to buy. Make sure the selection criteria are set as "Price Low to High" and then choose the lowest priced NFT available. This strategy isn't about rarity or NFT traits, its about finding the lowest priced NFT and then immediately reselling it on a different marketplace for a higher price - so in this situation, we are not paying attention to NFT traits.

After clicking on the NFT image, you will be taken to the NFT page. On this page, you can immediately buy the NFT.

Purchasing your NFT is the easiest step in this whole process. Once you have found the NFT for sale, it's just a matter of connecting your wallet and then making the purchase.

Listing Your NFT on OpenSea

Log into OpenSea using the Phanton wallet you used for Magic Eden and in a few moments the new NFT that you just purchased will show on your OpenSea Account Page.

Click on the NFT and you should see a button that says "Sell".

After clicking the "sell" button, the website will take you to the listing page where you can set the price and the duration the listing will be valid for. On Opensea, the default listing duration is 1 month.

For this strategy, you want to list the NFT at either the floor price or a fraction below the current floor price (for a quick flip). OpenSea will display a warning message letting you know the floor price and that you are listing the NFT below it.

Use Your Judgement

Your selling price will determine how fast your NFT will be sold. This strategy doesn't take into account the rarity of the NFT or its qualities, it simply takes advantage of the arbitrage opportunity between various marketplaces for a quick flip.

If you list it at the floor price or under the current floor price, it will likely be one of the first NFTs sold.

However, if you think the project has legs and there is a lot of growth potential, then list it above the floor price. The higher the NFT is listed above the floor price the longer will likely take to sell but then also the higher your profit.

Making the Sale

A sale can happen on the OpenSea platform at any time and are immediate. By default there are notifications, so if you want to know what recently sold, you need to visit the activity page on OpenSea. This page displays the most recent activity and sales on your account.

Once the sale has been made, its just a matter of rinsing and repeating the process.

Rinse & Repeat

New NFT projects are entering the market each and every day so if you are serious about getting into NFT flipping, you should check the marketplaces on a daily basis to catch any of the new projects which have just been listed.

You only need to commit 45 minutes to an hour a day to checking for new projects and listing or relisting your existing collection which can turn into a profitable daily activity.

In an ideal world, you would be able to flip your NFTs every day however, this is not always possible and in some cases, it may be much more profitable to hold on for a longer period of time when it comes to some collections.

There are of course variations to this process which can include Making Offers below the asking price to purchase an undervalued NFT and as well as purchasing multiple NFTs per collection, with an intent to flip the first one, take massive profit on the second one and hold the third one for the long-term.

Once you have made a few successful flips you can reinvest your profits into increasing the volume of and number of NFTs you are buying and selling. Don't overextend yourself and always have extra funds available if a really good deal comes up.  Once you get started, there really is no limit to how big you can take this.

NFT flipping has become one of the most profitable activities within the blockchain space and if you are able to master this skill, it could become a highly profitable source of income.

This NFT flipping strategy allows you to start buying and flipping NFTs from day one without having to wait for launched collection or be accepted by any whitelists. It can be done at any time and there is no limit to how many trades or how often you flip.

As always, never invest more than you can afford to lose and most importantly, enjoy the process. All the best and success with your NFT flipping!