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@niftygateway did one of their best open edition launches ever last night for aritist @troubleandrew I am going to break it down below 1/
Lately, drops have been selling out to flippers and prices capitulate on day 1. There is barely any immediate profit. (I would know I have been flipping since day 1) - What is cool though is @niftygateway responded to this with some new drop styles to help discourage flipping
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There have been drops of .069 cents and $1 apiece with 50, 100 or so editions. There have also been "open editions" at varying prices. Last nights was a 2-minute open edition drop set at $200, only 45 were minted in 2 minutes. This is the piece below, @gucci Ghost Yellow Aqua 3/
Two other editions that were close in design @ $250, but were editions of 20.. You can find and view those here on site: https://tinyurl.com/y3susrr9
The Aqua/Pink piece immediately started going for $299-340, then going upwards to $525 the morning after. 4/
The Aqua/Pink piece immediately started going for $299-340, then going upwards to $525 the morning after. 4/
The Pink/Silver edition started around $270-370 on the secondary and by this morning is going upwards of $400..... HERE is where it gets interesting!
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The open edition started at around the $300 range secondary and is already pushing $750. The psychology behind open edition pieces is that HODLERS mostly buy. Flippers do not view them as scarce, but they truly are. Here is why.
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Hodlers buy open editions, so very few sell secondary, and if they do, it will be at a costly premium sooner than later. This is exactly what unfolded last night. Flippers made pennies and hodlers have a more valuable piece. Risky flippers who got the open edition got paid. 7/
Shout out to @DCCockFoster, @gcockfoster, and the @niftygateway team for making the marketplace more dynamic, and serving the artist but also to discourage immediate flipping for pennies. 8/
Share your thoughts on feedback. I plan to keep breaking down the psychology of marketing and sales in NFT, Crypto, Real estate and more over the lifetime of my twitter account. Share, follow, and let's talk about our passions! 9/
Have a great day!
Have a great day!
