How to Gauge the Value of an NFT: Guide for 2023

How to Gauge the Value of an NFT: Guide for 2023

by Andrea Knezovic

Many people are buying and selling NFTs, but have no idea how to gauge the value of an NFT. That inevitably leads to bad investments.

I’ll help you avoid that.

Here are the questions you should ask yourself to accurately assess the value of an NFT before investing.

Who’s the Team Behind It?

One of the first things you need to research is the team who created the NFT you’re interested in. If a respected and well-known creator is behind it, that instantly increases the chances of the entire NFT collection being valuable. Plus, it gives legitimacy to the project.

For example, if Yuga Labs, the creator of Bored Apes, decides to release a new project, it’s almost certain that it will be a success.

Does the NFT Project Have a Clear Roadmap?

If the team behind the project seems promising, you should also check out its roadmap.

Here are some of the things to consider.

What goals were achieved thus far? Are future milestones achievable? Is the roadmap detailed enough? Do your personal beliefs align with the project’s mission?

Generally speaking, if an NFT project has a clear and detailed roadmap with realistic milestones, that’s a good sign.

Does It Seem Like a Scam?

While researching an NFT project and the team behind it, did you come across something weird that caught your eye? Is there something that doesn’t add up, sounds sketchy, or too good to be true?

If you answered yes, there’s a big chance you’ve come across a scam.

Unfortunately, the crypto and NFT markets are riddled with scams. You always must do your own research to avoid bad investments and rug pulls. If something seems like a scam or sounds too good to be true, it probably is. Trust your gut feeling.


Is There Activity on Social Media?

The next thing you should check when trying to gauge the value of an NFT is its social media profiles. All reputable NFT collections and people behind them at least have a Twitter profile.

Take note of how many followers they have on social media, how often they post and is their engagement good. Generally speaking, if there’s a lot of activity online and positive user posts about the project, that usually points to a valuable NFT collection.

How Big Is the Community Behind It?

Another clue about the value of an NFT is the size of its community. NFT projects that work on community building are in it for the long run and are more likely to become successful.

To assess how big and active the community behind it is, check out the project’s Twitter page and Discord channel. If there’s a lot of activity there and a significant number of people are supporting the project, that’s an excellent sign.

On the other hand, if nobody is talking about a certain NFT collection, or even worse, they’re talking about it negatively, the safer bet would be to not invest.

digidaugaku nft collections

How Rare Is the NFT?

One element to consider when trying to gauge the value of an NFT is its rarity.

Many factors determine how rare an NFT is. For example, how scarce it is, whether it was created by a celebrity or a popular artist, etc.

To check the rarity of an NFT, you can use NFT tools like or Rarity Sniper. Such tools are also useful for getting various stats on NFTs like floor price, trading volume, market cap, owners, supply, etc., all of which can help you assess the value of an NFT.

axie infinity marketplace

Does It Have Utility?

For an NFT to be truly valuable, it should have some sort of utility.

Here are some examples.

If an NFT can be used as an avatar in a popular blockchain game or if it represents land or other game items, this can be very valuable. Most blockchain games use the play-to-earn model. In such games, owning an NFT can open up various opportunities for earning.

The value of an NFT can also lie in providing its holder with access to things like exclusive giveaways and airdrops, DAOs, online events, private Discord communities, etc.

Additionally, NFTs that have utility in the real world are also considered to be valuable. However, it depends on what it is. For example, an NFT that gives its holder access to a VIP celebrity event or exclusive merchandise from a mega-popular fashion brand would be very valuable.

murakimi art

Does It Have Artistic Value?

One way to gauge the value of an NFT is to consider whether the NFT has any artistic value. That’s particularly important for NFTs that don’t have clear utility and are geared more toward art collectors.

Unfortunately, because NFTs are being mass-produced by all kinds of companies and individuals, many of them don’t fall into the category of notable artistic achievements.

To recognize whether an NFT is a piece of art that would be valuable to other collectors, it’s helpful to have basic art history and contemporary art knowledge. At the very list, you’ll need to know which artist and type of art are in demand at the moment.

In this sense, art is not subjective. You might personally like an NFT and think it’s a piece of art, but that doesn’t mean it has any value in the art world.

Is It Liquid?

Liquidity is another essential factor when it comes to the value of an NFT. If you can easily trade or sell an NFT you’ve bought, that means it’s liquid and holds value. For example, high-demand NFTs backed by a passionate community have high liquidity.

Another thing to consider is which NFT marketplaces a certain NFT is available on, as that can affect buying and trading it. Some NFTs are exclusive to just one platform, while others are available everywhere.

Who Was the Previous Owner?

Sometimes, an NFT becomes very valuable because it had a famous owner who made it popular. For example, NFTs that were owned by celebrities or famous NFT influencers and creators tend to be very valuable.

Final Thoughts on How to Gauge the Value of an NFT

As we’ve learned the value of an NFT depends on several different factors, which makes it hard to assess.

My final piece of advice is to use tools that can help you estimate the value of any NFT. DappRadar’s NFT Value Estimator is a good one. After you select a collection and paste the ID of an NFT you want to check, you’ll get an estimated value in ETH.


About Udonis

Udonis is an independent full-service mobile marketing agency that acquired more than 200,000,000 users for mobile games since 2018.

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