Know Thyself

Again, other than evaluating a project based on the aforementioned categories, perhaps more important is knowing your own preferences, risk tolerance, and developing your own strategy.

What projects are you most interested in?

In addition to just being more fun in general, investing in NFT projects that you are actually interested in (and not just buying because it looks hyped) helps you to be more likely to make the effort to check in on the project regularly and keep tabs on its progress.

Which concepts are you familiar/unfamiliar with?

“Never invest in a business you cannot understand.” – Warren Buffett

The riskiest projects are not just those that have high risks of rugging or failure, but also those that you have difficulty understanding (and hence evaluating) the risks of.

What is your risk tolerance?

Investing in a project comfortably within your risk tolerance significantly reduces stress as well as the likelihood of making poor decisions.

Do you have an overall strategy?

Investing in NFTs without an overall strategy is a dangerous endeavor.

Knowing what your preferences and risk tolerance are would help you greatly in formulating a strategy that suits you and your situation, and would bolster your chances of long-term success.