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So you've found an interesting NFT project, what's next?
How do you go about diving deeper and investing?
1/ Let's explore
How do you go about diving deeper and investing?
1/ Let's explore
2/ NFT research is no joke.
Imagine learning about Vintage cars, collector handbags, Pokemon cards, Art industry, Stamps, Comic books, etc..
Each niche has its own legends, fanbase, vibe, gems, etc.
Takes more than just an article and a couple days right?
Imagine learning about Vintage cars, collector handbags, Pokemon cards, Art industry, Stamps, Comic books, etc..
Each niche has its own legends, fanbase, vibe, gems, etc.
Takes more than just an article and a couple days right?
3/ So it's normal to take longer than general #crypto research.
I'll go through the methods I've used to stay profitable with my NFTs at least 8/10 times if not more.
I'll go through the methods I've used to stay profitable with my NFTs at least 8/10 times if not more.
4/ What's the best, most sought after NFTs in that project?
This does NOT necessarily mean what's costed the most during presale.
Example,
Mystic Axies, Jason card in Gods Unchained, Road connected lands in virtual worlds like #Decentraland.
This does NOT necessarily mean what's costed the most during presale.
Example,
Mystic Axies, Jason card in Gods Unchained, Road connected lands in virtual worlds like #Decentraland.
5/ How do you find this out?
Data & community vibe.
Data is only useful if it has enough data points of sales and AGE.
2-3 years worth of sales data, showing that the specific NFT class has increased or retained value is better than 'the highest NFT sale' during a presale.
Data & community vibe.
Data is only useful if it has enough data points of sales and AGE.
2-3 years worth of sales data, showing that the specific NFT class has increased or retained value is better than 'the highest NFT sale' during a presale.
6/ Usually @opensea or @nonfungibles will give you this information.
Or each project may have their community website.
But as long as the class of NFTs is going up in value and has a supply cap then one would assume if the project blows up, this NFT would follow suit?
Or each project may have their community website.
But as long as the class of NFTs is going up in value and has a supply cap then one would assume if the project blows up, this NFT would follow suit?
7/ The more expensive the NFT, the lower the liquidity.
That's why I don't go for extremely rare/expensive NFTs unless it's a long term strategy.
If I'm sitting on a $30k NFT, will take a long time for someone to offer me higher.
That's why I don't go for extremely rare/expensive NFTs unless it's a long term strategy.
If I'm sitting on a $30k NFT, will take a long time for someone to offer me higher.
8/ But when offers DO come by, they can be huge payout days.
So my portfolio has some of them.
I would rather buy things in the 1-3 ETH level. This is affordable, majority of demographic sit here.
Rather than 30-50ETH which might be a long hold.
So my portfolio has some of them.
I would rather buy things in the 1-3 ETH level. This is affordable, majority of demographic sit here.
Rather than 30-50ETH which might be a long hold.
9/ So, a hard supply cap, constant increase in value, community wants it, looks good, decent price range, what next?
Personally I look for an OTC/negotiate deal, wait for someone to 'offload' coz they want to jump to another project.
Or I'll buy off market.
Personally I look for an OTC/negotiate deal, wait for someone to 'offload' coz they want to jump to another project.
Or I'll buy off market.
10/ You can also invest in new projects but that's high risk.
Many have folded and turned to dust, haven't lasted the community test of 'shiny object syndrome', and might take years to come out.
Still, some might be extremely promising, I'm just cautious.
Many have folded and turned to dust, haven't lasted the community test of 'shiny object syndrome', and might take years to come out.
Still, some might be extremely promising, I'm just cautious.
11/ I also invest in the governance token or coin.
Especially if it's on big exchanges or has good DEX liquidity.
Just another channel to invest in and more liquid.
Especially if it's on big exchanges or has good DEX liquidity.
Just another channel to invest in and more liquid.
12/ We haven't even gotten into art.
Which is a different beast, so I'll go through that later.
I'll also go through some of my buys and why I bought + price increase since entering.
Another day :)
Which is a different beast, so I'll go through that later.
I'll also go through some of my buys and why I bought + price increase since entering.
Another day :)
