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Crypto analyst Jason Pizzino has identified two non-fungible token (NFT) properties that he claims have the ability to generate huge returns for traders during this bull run.
Pizzino explains the guidelines he uses to determine which NFT ventures are still worth engaging in as the NFT craze persists in a new video.
Pizzino advises traders to look for ventures that have not yet gone parabolic. Although projects like Chiliz (CHZ), which has a market cap of just under $3 billion and has risen in price by 9,000% this year, could potentially double in price, Pizzino looks for projects that have actually space to develop 5, 10, or even 20x during this NFT excitement period.
The trader also points out that the completely diluted market value of a commodity, as well as its actual market cap, must be weighed.
For eg, NFT project Ecomi (OMI) currently has a market cap of $1.9 billion, but if all of its tokens were in use, its market cap would be $8.5 billion, placing it among the top 15 projects by market cap.
Two ventures that Pizzino claims have potential to expand despite still possessing comparatively limited diluted market caps are Gameswap (GSWAP) and Shroom.Finance, both of which have recently been listed by crypto trader Josh Rager (SHROOM).
Shroom is designing an NFT protocol for minting and trading non-fungible tokens (NFTs), while Gameswap specialises in encouraging gamers to exchange in-game assets.
Pizzino claims that even though both ventures hit half the market cap of common gaming token Enjin (ENJ), they will both expand between 15 to 20 times.
“That’s why these look a hell of a lot more appetizing than getting into OMI or whatever the other tokens we just looked at.”
The investor specifically mentions that Gameswap (GSWAP) is only in its “early days,” with a market cap of just over $20 million.