Follow the Leader: How Alpha Callers Find the Hottest NFTs
The NFT market is extremely time-sensitive. It’s an incredibly hard space for beginners to understand without the correct guidance because the volatility of NFTs is so intense. It’s almost impossible to find an article on the internet that provides a solid selection of NFTs to buy that doesn’t appear outdated.
Of course, any “Top 5 NFTs on Ethereum” list will give the standard blue chips like Bored Apes Yacht Club or Moonbirds their recognition, but what about finding those projects before they become immensely popular?
What is Alpha
To find access to information about early projects prepared to take off, most traders turn to Alpha groups which are communities centered around finding the best NFT projects available and poised to rise in value in real-time.
While many can be free and open to anyone on Discord, the best alpha groups tend to come at a price. Generally, an Alpha group will release an NFT that provides holders access to a private chat where like-minded individuals discuss the day's hottest projects.
Popular NFT Alpha Groups
Who are Alpha Callers
At the head of every alpha group are the alpha callers. They are the team members who lead the group towards the best NFT plays and provide reasons why a specific token will do well.
Being an alpha caller comes with some serious responsibilities because of its value to a community. In order to be an effective alpha closer, individuals have to spend a considerable amount of time in the NFT market searching for undervalued tokens and identifying which tokens might perform well in the near future.
Notable Alpha Callers
@ _Mishuman_
@Mwallac390
@ashrobinqt
@resaang
@NFTLlama
Good Alpha vs Bad Alpha
An alpha caller earns the reputation and role by providing accurate calls that benefit community members. Because so many people in a group look up to the alpha caller for profitable plays, they are effectively guiding members towards financial decisions that can come with risks.
While their opinions on NFTs are not financial advice, they do hold a certain influence over a community with their calls. This puts a level of pressure on an alpha caller to keep posts that are well-detailed and examine a variety of bearish and bullish points regarding NFT plays so that their community can make their own informed decisions.
How do alpha callers find good plays
To make good calls, alpha callers generally use a variety of tools to gather as much information about a project as possible.
One popular tool that these callers use is icy.tools. This powerful web3 service provides users with detailed price movements and trading activity for most NFT projects on the Ethereum network. The service requires a monthly fee to use and for good reason. Nearly every alpha caller uses the information from icy.tools to relay accurate perspectives of tokens in the market.
Alpha callers are also extremely well connected. While they may reserve their calls for one community at a time, they are still active in a variety of different alpha groups so that they can get a well-rounded understanding of different trends in the markets.
How to become an alpha caller
If you want to become an alpha caller yourself, the most obvious thing you need to do is to make successful trades. At the core of being a good caller, making profitable trades regularly is the most necessary skill. However, making good trades is not all.
Potential callers still need to attract attention to their success by posting about plays on Twitter and Discord where they can gain some notoriety from others in the space. Showing consistent success will attract people that want help making better trades themselves.
Eventually, joining a Discord and proving yourself as a good trader becomes the next step. When a community begins to take notice and you offer your perspectives to that community alone, they will start to value your plays based on their success. As your ability to make good trades continues, you will eventually earn a spot on the team as an alpha caller.