Nonfungible Tokens (NFT’s)

[Irieguy 1059]

52 minutes ago, Nice Guy Eddie said:

Is there any reasonable NFT strategy other than buying anything that you can get into early, and hoping a certain percentage takes off? I look at Zed or Top Shot as building in value whereas some of the "plain" NFTs are 100% greater fool theory. And I don't mean the last part as an insult.

I think the opportunities for quick flips are getting very rare. I haven’t had success with any of my mints. And the time that you need to put in to finding a quality project severely cuts in to any hourly profit. I would judge a project off community, artwork/team and fees. It takes hours of monitoring discord to get a feel for the strength of the community and I find that time on Discord exhausting. The artwork is subjective obviously and I would try and stay away from projects with anonymous founders. One drop claimed to be a team of women coders supporting women - nope, random Russian men. Lastly, fees. With the high price of ETH gas this can be brutal. For small $ buyers the fees especially add up(minting fees, OpenSea fees). In short I would be very careful. The best investment is CryptoPunks right now followed by Bored Ape Yacht Clubs. The bluebloods of NFTs. I would buy in to a CryptoPunk DAO before buying a random NFT. Visa just bought a CryptoPunk today and more corporations will follow. Arizona Iced Tea just announced a Bored Ape Yacht Club marketing campaign. But I would imagine none of us are looking to spend $100k on either. So a DAO you trust(do extensive research) is the best $ making approach now. 

[The Royal We 3072]

1 hour ago, Nice Guy Eddie said:

Is there any reasonable NFT strategy other than buying anything that you can get into early, and hoping a certain percentage takes off? I look at Zed or Top Shot as building in value whereas some of the "plain" NFTs are 100% greater fool theory. And I don't mean the last part as an insult.

This is a big part of it, but there are other strategies as well - mainly finding the projects that have utility and those that have proven/legit teams behind them.  I think a pretty safe play is the "play to earn" games built on the blockchain.  Axie is the OG and is making an insane amount of money (This is really worth a read, the numbers are hard to believe) - https://www.notboring.co/p/infinity-revenue-infinity-possibilities

I listened to @gyroprotagonist for a change and got into something similar to Axie:  Crypto Raiders - https://cryptoraiders.medium.com/crypto-raiders-tokenomics-and-economy-launch-plan-20ab77f44845

[Muy Frio 182]

I’ve only followed from a distance but some of this stuff is unreal. 
 

 

[gyroprotagonist 2595]

It's kinda more on how to find momentum.  you watch stuff and if you see suddenly a stalled project take off and start to sell out, there is opportunity to get in and then ride other's fomo for a quick flip.  maybe get a chance to find a rare.  or even momentum on established projects can turn big profits, but the cost of entry is prohibitive for my budget.  But yeah, the traditional find a project, join the discord then on drop day jam gas to mint 10-20 units, sort out rarity quickly and then flip to people who missed the drop is more and more rare now.  most of my good flips now are catching stuff that is rising and try to snipe the floor no mater if the project is sound or not.  but that takes having ears in a ton of discords and being johnny-on-the-spot with work/family not c-blocking your degen opportunity lol.

The biggest regret is not getting into the ArtBlocks curated sooner.  I did not even get into nfts until mid May and had no idea about AB until maybe July, but even a month or 2 sooner would have been nice just seeing all of those projects soar right now. 

on the gaming stuff.  i have seen some rumbling about the price of SLP (axies utility coin) that keeps dipping making it harder for you or your scholars to earn.  i don't know much about axie but like everything else, you need new players coming in to buy the new axies that are bred and bring their new money in the ecosystem.  All games need new players to survive and thrive.  The crypto raiders will have a built in deflationary tool with perm char death as a possible outcome of raiding a dungeon.  chars will die, so even existing players will need to keep playing.  I honestly don't know how fun the game will be.  It's a 'turn zero' dungeon sim where your only action will be to equip your char in armor/weapons/whatever to kill the underlings and the boss in the there.  Then you pull the slot machine lever and see what loot (or death) awaits.  very similar to a ZED run race without the death part.  

I am a rpg nerd, so it appeals to me, but they are killing it with delivering on what they say they are going to do.  Their whole coin/utility could go up in smoke in a heartbeat, but it has been stable since launch 2 weeks ago and is steadily providing $100 a day in passive income before the game has even really launched.  already made back what i put in of my own money, so it's free roll at this point.  They hired an outside guy to set it up and it seems to be working well.  the first case for spending the coin for in-game stuff will come in 2-3 weeks and that will be a good test case.  similar to axie, you have to pay the utility coin to breed (or 'recruit' in CR) so this should get real movement into the ecosystem.

sorry, there is no tldr.  it's all just cool starry bra.

[Nice Guy Eddie 13536]

for anyone that has some top shot moments but you haven't checked out your account in a while, "good" moments are experiencing decent price growth. If you have common moments for players with low attention and 40K moment copies, there isn't much growth there. Those moments are only valuable for completing sets and actually not easy to sell unless you want to undercut the market to move it.

Overall my account was down about 15% from what I paid since I bought some expensive moments that went drastically down. While I'm still underwater on a few moments, I'm almost back to even overall. It definitely helps me that I pulled a rare James Harden in a pack. His only (last) '20-'21 moment with the Rockets. 

Edited August 24, 2021 by Nice Guy Eddie

[Irieguy 1059]

TopShot has officially gone big time. WNBA packs drop Friday!!!

I do think Topshot will do EVERYTHING possible to prop up the values of these moments. 

[ZB'Tejas 594]

23 hours ago, Nice Guy Eddie said:

for anyone that has some top shot moments but you haven't checked out your account in a while, "good" moments are experiencing decent price growth. If you have common moments for players with low attention and 40K moment copies, there isn't much growth there. Those moments are only valuable for completing sets and actually not easy to sell unless you want to undercut the market to move it.

Overall my account was down about 15% from what I paid since I bought some expensive moments that went drastically down. While I'm still underwater on a few moments, I'm almost back to even overall. It definitely helps me that I pulled a rare James Harden in a pack. His only (last) '20-'21 moment with the Rockets. 

Yep, my S1 moments are looking strong again. I never pulled the trigget on the Luka 1st moment but it's gone from ~$1500 to almost $5000 in the past few weeks.

[Nice Guy Eddie 13536]

45 minutes ago, ZB'Tejas said:

Yep, my S1 moments are looking strong again. I never pulled the trigget on the Luka 1st moment but it's gone from ~$1500 to almost $5000 in the past few weeks.

I've been playing around with <$20 moments in S2. You identify a moment that you think will rise and perhaps double your money. You're not getting wealthy but it help to make TS a free or cheap hobby. Of course in a rising market, it's easy to think you're smart with your buys and sells. 

[ZB'Tejas 594]

1 hour ago, Nice Guy Eddie said:

I've been playing around with <$20 moments in S2. You identify a moment that you think will rise and perhaps double your money. You're not getting wealthy but it help to make TS a free or cheap hobby. Of course in a rising market, it's easy to think you're smart with your buys and sells. 

BAYC / Etherock gainz or bust

[gyroprotagonist 2595]

2 hours ago, ZB'Tejas said:

BAYC / Etherock gainz or bust

lulz.  i posted about finding momentum earlier.  had this happen last night on just random crap that looks about as crappy as an etherrock lol. 

see a post in the discord channel about how these are starting move a little https://opensea.io/assets/0x495f947276749ce646f68ac8c248420045cb7b5e/9690549573852672740817450661288244415170500306446936049782156441528257478657

mint from opensea was .125 eth (~$400) and you can look at the sales per minute and see that yeah, people are snapping these up but still some to buy at the mint price.  There are only 125 total in the collection so if the floor gets bought up and more people show up, then it will rise quickly.  bought 1 and then waited for the floor to get bought out completely.  Then watched the listings/sales for a bit and these were getting insta-bought for .5 with a few going higher.  I listed for .79 (~$2500) and 5-10 mins later it sold.  smooth $2K profit for 30 mins of screen time.  so again, it had nothing to do with roadmap, or artist/dev of the project.  just catching momentum. 

[gyroprotagonist 2595]

Hahaha!  That effing rock i linked earlier is worth 4eth now.  Looks like the floor on those skyrocketed sometime today.  I was not going to hold it overnight and profit is profit but damn, over 3eth missed on that one lol.  

Everything is going nuts now. New pfp project koalas went from .05 to 1eth in 2 days.  17000 sales on a 10000 pc project; insane.

[Nice Guy Eddie 13536]

The skeptical side of my brain is wondering if many of these are intentional scams. Create 10k NFTs. Distribute to fake accounts and influencers who will hype your NFT. Start selling them between your accounts. Treat the transaction fee as a business expense. When actual speculators jump in because they see volume and increasing prices, dump your holdings.

none Of the above doesn’t mean anyone can’t make a profit off of it.

Edited August 26, 2021 by Nice Guy Eddie

[gyroprotagonist 2595]

4 minutes ago, Nice Guy Eddie said:

The skeptical side of my brain is wondering if many of these are intentional scams. Create 10k NFTs. Distribute to fake accounts and influencers who will hype your NFT. Start selling them between your accounts. Treat the transaction fee as a business expense. When actual speculators jump in because they see volume and increasing prices, dump your holdings.

none Of the above doesn’t mean anyone can’t make a profit off of it.

there are absolutely some of that for sure.  coordinated pumps and surprise huge buys way above market.  the koalas one above had at one point over 3K unique wallets which is outstanding for a new mint.  that's pretty much what everyone does (who minted) right after a project with a lot of hype or momentum.  I minted 7 of those koalas (.35 total) and then once they started move up, sold 2 very early on for .4 to cover my cost in case this was a pump and dump.  Then just rode the wave.  have my 2 most rare left and sold 5 for about a 3eth profit so far.  i really like the project but I never free ride without covering costs first, so a lot of times eth is left on the table if a project takes off.

if your first buy in is after a run up has been going on for a while due to nothing but fomo, it's pure gambling.  the koalas (https://opensea.io/collection/koala-intelligence-agency) peaked at 1.1-1.2 last night and floor is back down to .9  so those that bought at 1.2 or higher for a floor are sweating a little, but I actually like these long term to maybe carve out a place under apes and guttercats as an established pfp.

sounds stupid, but there was actually another koalas drop a few days ago that had stalled during mint.  There was another group of nft holders that went in as a group and starting minting tons of them and caused fomo enough that it sold out and then rose up right after mint.  so it was for sure a coordinated pump and dump.  they are still sitting at .1 or so which is above mint but tons of people probably bought at .2 or higher and are now holding those bags.

[Nice Guy Eddie 13536]

12 minutes ago, gyroprotagonist said:

there are absolutely some of that for sure.  coordinated pumps and surprise huge buys way above market.  the koalas one above had at one point over 3K unique wallets which is outstanding for a new mint.  that's pretty much what everyone does (who minted) right after a project with a lot of hype or momentum.  I minted 7 of those koalas (.35 total) and then once they started move up, sold 2 very early on for .4 to cover my cost in case this was a pump and dump.  Then just rode the wave.  have my 2 most rare left and sold 5 for about a 3eth profit so far.  i really like the project but I never free ride without covering costs first, so a lot of times eth is left on the table if a project takes off.

if your first buy in is after a run up has been going on for a while due to nothing but fomo, it's pure gambling.  the koalas (https://opensea.io/collection/koala-intelligence-agency) peaked at 1.1-1.2 last night and floor is back down to .9  so those that bought at 1.2 or higher for a floor are sweating a little, but I actually like these long term to maybe carve out a place under apes and guttercats as an established pfp.

sounds stupid, but there was actually another koalas drop a few days ago that had stalled during mint.  There was another group of nft holders that went in as a group and starting minting tons of them and caused fomo enough that it sold out and then rose up right after mint.  so it was for sure a coordinated pump and dump.  they are still sitting at .1 or so which is above mint but tons of people probably bought at .2 or higher and are now holding those bags.

How do you get involved in a mint? I assume there is a base fee to developers.

[gyroprotagonist 2595]

5 minutes ago, Nice Guy Eddie said:

How do you get involved in a mint? I assume there is a base fee to developers.

so generally a project team will go through these steps

- announce project on twitter.  create a discord server and a website

- then will start to get people to join the discord and give update on what the project is, sneak peek at the art, roadmap etc..  then set a drop date

- drops will happen on their web site.  you just connect your wallet and then at time of the drop buy some.  there are usually limits per tx or sometimes limits per wallet

Sounds easy enough, but when 3000 people want to buy 10-50 each on a 10K project, gas will spike to obscene levels.  i can make another post on gas wars, but this is the #1 frustrating thing for people during a mint.  basically you can lose out on the nft and lose eth for gas on a failed tx.  paying more for gas will get your tx done before lower paying people.

the koalas (and some other projects) have started to do presales.  They let the first 1000 members of their discord submit their wallet id and then were given a chance to mint up to 7 nfts over the course of 24 hours.  so this eliminates the gas spike for the early adopters.  Then the remaining 3k or so was a free for all.

 

[Irieguy 1059]

This would have been a good week to signup for TopShot. $300 for free. 

Edited August 26, 2021 by Irieguy

[Nice Guy Eddie 13536]

Bought a couple lazy lion nfts. I feel like I’m buying a beanie baby.

[Irieguy 1059]

That A’ja Wilson moment has dropped from $300 to $35 in a matter of hours. People are creating accounts just to get it as a free gift. TopShot is going to have a mess figuring out the bogus account creations. 

[The Royal We 3072]

1 hour ago, Nice Guy Eddie said:

Bought a couple lazy lion nfts. I feel like I’m buying a beanie baby.

Nice!  I've had a few of them, but am down to one at the moment:

 

The bot offers that I get on it have been steadily increasing, which means the floor is rising.  I think that's a pretty good one for you to dip a toe in the water with.

Edited August 27, 2021 by The Royal We

[The Royal We 3072]

This is a pretty good site to easily track movement on some of the bigger NFTs/ABs:  https://wgmi.io/

I missed out on these damn things and they are going bonkers already: https://opensea.io/collection/koala-intelligence-agency?search[sortAscending]=true&search[sortBy]=PRICE&search[toggles][0]=BUY_NOW

Floor is already above 1 ETH

[gyroprotagonist 2595]

30 minutes ago, The Royal We said:

This is a pretty good site to easily track movement on some of the bigger NFTs/ABs:  https://wgmi.io/

I missed out on these damn things and they are going bonkers already: https://opensea.io/collection/koala-intelligence-agency?search[sortAscending]=true&search[sortBy]=PRICE&search[toggles][0]=BUY_NOW

Floor is already above 1 ETH

logan paul bought one i saw.  i am still holding 2 of KIA.  never seen a pfp go this vertical this fast out of the gate. 3eth floor or bust

[Nice Guy Eddie 13536]

9 hours ago, Irieguy said:

That A’ja Wilson moment has dropped from $300 to $35 in a matter of hours. People are creating accounts just to get it as a free gift. TopShot is going to have a mess figuring out the bogus account creations. 

Offering something brand new only to new accounts is an experiment that I see as failing. Are you really going to bring in that many new people? And you risk pissing off your established customers. But to top it off, I question whether their main customers will care much about the WNBA moments.

[Irieguy 1059]

2 hours ago, Nice Guy Eddie said:

Offering something brand new only to new accounts is an experiment that I see as failing. Are you really going to bring in that many new people? And you risk pissing off your established customers. But to top it off, I question whether their main customers will care much about the WNBA moments.

I get where you are coming from but I think there is going to be huge interest in these WNBA moments. We have to remember that a lot of TopShot collectors aren’t traditional sports fans. They just want first and new. The A’ja Wilson dropped to $35 after a couple hundred got sent to accounts last night. But since that drop the moment has risen steadily to $144 now. People are paying $144 just to guarantee they can buy a $9 pack. Long term I have no idea on the value but WNBA moments are going to sell for way more than a traditional fan would expect them to sell for. 

Edited August 27, 2021 by Irieguy

[Nice Guy Eddie 13536]

18 hours ago, The Royal We said:

Nice!  I've had a few of them, but am down to one at the moment:

 

The bot offers that I get on it have been steadily increasing, which means the floor is rising.  I think that's a pretty good one for you to dip a toe in the water with.

Already up 40% from where I bought yesterday. on-paper profits only.

One cool thing I like with this NFT is that they are going to share transaction fees with the NFT owners starting next month. 

[Irieguy 1059]

My awesome TopShot luck continues. I pulled a #2(out of 11,250) out of a WNBA $9 pack. The player is a scrub but I should still should get a great price. 

[Nice Guy Eddie 13536]

4 minutes ago, Irieguy said:

My awesome TopShot luck continues. I pulled a #2(out of 11,250) out of a WNBA $9 pack. The player is a scrub but I should still should get a great price. 

Very cool. I bet you can get something decent for that.

[gyroprotagonist 2595]

holy shit.  my biggest flip ever.  BAYC was minting Mutant BAYC.  current 10K members got a free one i think and then another 10K was minted via a dutch auction staring at 3ETH.  it counted down on price every minute.  i aped and got one for 2.9 eth.  then sold it like 30 minutes later for 7.9 eth.  it had some rare properties but with 20K out there who knows.  i am sure 1 week from now it will be worth 20eth or some thing, but fuck that was intense.

https://opensea.io/assets/0x60e4d786628fea6478f785a6d7e704777c86a7c6/1088  if you want to look at it and laugh as the price goes up and up

still shaking lol

[Nice Guy Eddie 13536]

10 hours ago, gyroprotagonist said:

holy shit.  my biggest flip ever.  BAYC was minting Mutant BAYC.  current 10K members got a free one i think and then another 10K was minted via a dutch auction staring at 3ETH.  it counted down on price every minute.  i aped and got one for 2.9 eth.  then sold it like 30 minutes later for 7.9 eth.  it had some rare properties but with 20K out there who knows.  i am sure 1 week from now it will be worth 20eth or some thing, but fuck that was intense.

https://opensea.io/assets/0x60e4d786628fea6478f785a6d7e704777c86a7c6/1088  if you want to look at it and laugh as the price goes up and up

still shaking lol

Congrats, If they’re not already, I could see airdrops becoming more frequent. If you have a new nft project, why not give free NFTs to an existing community for one of the top NFTs. Sure, you miss out on some upfront money but you have a built in community who might kick start your project.

not too mention that people like free stuff especially when they might be able to sell it for 8 ETH.

[Nice Guy Eddie 13536]

NFT version of a mic drop. It’s a year old so I’m late to the game.

 

Edited August 29, 2021 by Nice Guy Eddie

[gyroprotagonist 2595]

2 hours ago, Nice Guy Eddie said:

Congrats, If they’re not already, I could see airdrops becoming more frequent. If you have a new nft project, why not give free NFTs to an existing community for one of the top NFTs. Sure, you miss out on some upfront money but you have a built in community who might kick start your project.

not too mention that people like free stuff especially when they might be able to sell it for 8 ETH.

most of the top ones have done that.  bayc dropped a dog nft to holders, gutter cats dropped a rat and these have done really well.  the price runs up on the base nft right before drop as people scramble to acquire one before the snapshot is taken.  then there is usually a drop in price right after.  some people like to sell at the peak then try to buy back in. but they miss on the drop.  lots of interesting dynamics.  gutter rats has announced another nft drop for holders but i think you needed a cat and rat to get it.  lol

floor is right at 8eth for that mutant bayc.  i dont regret selling, but just wish i was more liquid and could have gotten 2.  then i could have held one for the ride.  bayc is just such a strong brand, but there was some thought that this might dilute the value.  anyway, the devs made a cool $92M or so just from public drop + the ongoing royalties from each sale.

[The Royal We 3072]

The Lazy Lions have had such a big run up that I decided to put up my only 1 for sale at 1.25eth:

https://opensea.io/assets/0x8943c7bac1914c9a7aba750bf2b6b09fd21037e0/4782

This is one of the first NFTs (other than Zed) I bought, but I got it for .11 and am going to try to take some profits.  The "smirk +J" trait floor is right around 1 eth right now.

@Nice Guy Eddie  -While not a true "air drop" all holders of one of these will be able to mint another NFT for free (+gas) at some point in the next few days:

https://opensea.io/assets/blazedcats?search[sortAscending]=true&search[sortBy]=PRICE&search[toggles][0]=BUY_NOW

So for .07 you would get a Blazed Cat and be able to mint an OxHead for free.  100% of the Blazed Cat's team royalties are donated to charity too.

This is another one that's been on a strong run the last week after being pretty stagnant for a while:

https://opensea.io/collection/ape-gang?search[sortAscending]=true&search[sortBy]=PRICE&search[toggles][0]=BUY_NOW

Dez Bryant has been shilling the Ape Gang on Twitter.  I'm holding 3 of these rn.

[The Royal We 3072]

16 hours ago, gyroprotagonist said:

holy shit.  my biggest flip ever.  BAYC was minting Mutant BAYC.  current 10K members got a free one i think and then another 10K was minted via a dutch auction staring at 3ETH.  it counted down on price every minute.  i aped and got one for 2.9 eth.  then sold it like 30 minutes later for 7.9 eth.  it had some rare properties but with 20K out there who knows.  i am sure 1 week from now it will be worth 20eth or some thing, but fuck that was intense.

https://opensea.io/assets/0x60e4d786628fea6478f785a6d7e704777c86a7c6/1088  if you want to look at it and laugh as the price goes up and up

still shaking lol

This is awesome.  It takes pretty big balls to plunk 2.9 down!

[gyroprotagonist 2595]

1 hour ago, The Royal We said:

The Lazy Lions have had such a big run up that I decided to put up my only 1 for sale at 1.25eth:

https://opensea.io/assets/0x8943c7bac1914c9a7aba750bf2b6b09fd21037e0/4782

This is one of the first NFTs (other than Zed) I bought, but I got it for .11 and am going to try to take some profits.  The "smirk +J" trait floor is right around 1 eth right now.

@Nice Guy Eddie  -While not a true "air drop" all holders of one of these will be able to mint another NFT for free (+gas) at some point in the next few days:

https://opensea.io/assets/blazedcats?search[sortAscending]=true&search[sortBy]=PRICE&search[toggles][0]=BUY_NOW

So for .07 you would get a Blazed Cat and be able to mint an OxHead for free.  100% of the Blazed Cat's team royalties are donated to charity too.

This is another one that's been on a strong run the last week after being pretty stagnant for a while:

https://opensea.io/collection/ape-gang?search[sortAscending]=true&search[sortBy]=PRICE&search[toggles][0]=BUY_NOW

Dez Bryant has been shilling the Ape Gang on Twitter.  I'm holding 3 of these rn.

lions were never on my radar, but good to see lots of projects increasing.  go get that 10x+ return!  i bought one of the Blazed Cats (on your rec lol) so that better moon, but i know you aped hard into those.

1 hour ago, The Royal We said:

This is awesome.  It takes pretty big balls to plunk 2.9 down!

that was a good chunk of my stack for sure. the mezcal-ritas flowing earlier gave me some extra confidence!  it was interesting though to see the chatter on who was liquid enough to or could get liquid by selling off stuff instantly to buy the 3eth mint.  This caught everyone off guard as it was unannounced; so no one planned ahead and made sure they had enough eth.  also, i was lucky in that koalas had just gone off and i had some nice sales a few days earlier.  this week was epic  up 2.5 from koala and 5 from mutants.  

[Nice Guy Eddie 13536]

I was looking at the Al Cabones mint. I wasn’t quite sure what gas fee to put in but since I didn’t have much eth in my wallet, I guessed. The submission failed but I didn’t lose anything. Fast forward about 30 minutes and I read others had similar problems. One guy wrote he lost $6k in fees. Yikes.

I get that moving fast can earn you profits but it can also cost you.

[gyroprotagonist 2595]

1 hour ago, Nice Guy Eddie said:

I was looking at the Al Cabones mint. I wasn’t quite sure what gas fee to put in but since I didn’t have much eth in my wallet, I guessed. The submission failed but I didn’t lose anything. Fast forward about 30 minutes and I read others had similar problems. One guy wrote he lost $6k in fees. Yikes.

I get that moving fast can earn you profits but it can also cost you.

yeah, the new metamask has really screwed up what i used to do for mints.  it used to be really simple, you had the base price for the nft, then you picked what gas to use.  now with the miner's tip + the max value i guess it's better in that you would just lose the tip if the tx failed, but i don't have a secret sauce for the ratio dialed in.  lots of people i chat with have reverted back to the old version of mm.  

[The Royal We 3072]

Welp, my lion sold for .98 and I had an Ape Gang sell for .35 overnight.  Mixed emotions on the lion - I've got to change my Twitter pfp now.  But I'm more liquid that I've been in a while to start the week.  Bought the Lion for .11 and the Ape for .18, not too shabby.

 

If I'd been this liquid over the weekend I would have aped in to the Creature World - the floor is already 2.3 on these: https://opensea.io/collection/creature-world-collection?search[sortAscending]=true&search[sortBy]=PRICE&search[toggles][0]=BUY_NOW

 

[Nice Guy Eddie 13536]

52 minutes ago, The Royal We said:

Welp, my lion sold for .98 and I had an Ape Gang sell for .35 overnight.  Mixed emotions on the lion - I've got to change my Twitter pfp now.  But I'm more liquid that I've been in a while to start the week.  Bought the Lion for .11 and the Ape for .18, not too shabby.

 

If I'd been this liquid over the weekend I would have aped in to the Creature World - the floor is already 2.3 on these: https://opensea.io/collection/creature-world-collection?search[sortAscending]=true&search[sortBy]=PRICE&search[toggles][0]=BUY_NOW

 

Congrats, really solid profits for a short time frame. I bought a few more lions on the way up. 2 of them have potential for high values due to rarity and traits people seem to like. Or perhaps the market will crash to 0 today.   The lazy lion community got excited last night when an NBA player (Gary Harris) and Daryl Morey (76ers prez) both bought lions.

FOMO can hit when you see 10% increases within minutes.

My concern with NFT markets are whether enough new money is coming into them, and how much is being trickled out with large fees (transaction and gas.) How many new Bored Ape derivatives can be supported at these levels? But perhaps some people have made so much money off other NFTs and that money is sitting on the sidelines while they look for another 100x.

EDIT: How is someone like Disney not jumping into NFTs. I'm sure they move slowly with everything but with their inventory of cartoon and live action characters, they could blow up the market.

 

Edited August 30, 2021 by Nice Guy Eddie

[The Royal We 3072]

2 minutes ago, Nice Guy Eddie said:

Congrats, really solid profits for a short time frame. I bought a few more lions on the way up. 2 of them have potential for high values due to rarity and traits people seem to like. Or perhaps the market will crash to 0 today.   The lazy lion community got excited last night when an NBA player (Gary Harris) and Daryl Morey (76ers prez) both bought lions.

FOMO can hit when you see 10% increases within minutes.

My concern with NFT markets are whether enough new money is coming into them, and how much is being trickled out with large fees (transaction and gas.) How many new Bored Ape derivatives can be supported at these levels? But perhaps some people have made so much money off other NFTs and that money is sitting on the sidelines while they look for another 100x.

 

Thank you.

I think the amount of money coming in is not as concerning as the ever increasing supply of NFTs.  There simply can't be enough to continue supporting 5 new 10k mints every single day.  I want to get to a point where I'm completely playing with house money so I don't have to worry too much about when the correction is coming.  Gas is a problem too - especially for the cheaper projects where a noob would want to start.  Are they are really going to buy a .05 NFT when gas hits them for .07?

But there is so much money piling in right now that I think we are still pretty early to the whole ecosystem. 

There are a couple of older projects with very a small supply that I think could be decent lotto tickets.  I own a couple of both of these:

https://opensea.io/collection/girl-cats-club

https://opensea.io/collection/bit-birds

They man stagnate for a while, but at some point an influencer is going to come along and pump these and they will moon because of the small supply.

 

[gyroprotagonist 2595]

yeah, i echo @The Royal We   point on new money coming in. tip of the iceberg imo.  i wish i could find the link, but there are still only 200K or so active accounts on opensea.  https://cointelegraph.com/news/opensea-s-daily-volume-is-exceeding-its-2020-total

volume is going through the roof and they just landed a $100m in funding.  also talks about moving more and more to polygon chain for gasless transactions.  this would send MATIC through the roof.  

As far as Disney or other big franchise stuff, I think the thing that scares them is the ownership aspect of it.  imagine if they could not just send a cease and desist to what ever platform is using their IP and have it taken down in a day.  That scares the shit out them.  Yes, they would make huge money by doing a 10K generative Snow White project. But would they let the users actually own the NFT?  I think they will come out with their own marketplace that they will try and control and the fine print will read that users/purchasers do not own their fake NFT and cannot use it however they want.  It will be blasted by the real community.

I think companies like Microsoft will be next in this.  Imagine having Fortnite skins that were NFTs where users could trade and sell.  MS could partner with Opensea (or make their own) to create a xbox specific trading portal that worked on xbox interface.  people already collectively pay millions for those skins and don't own shit.  they can't sell them or trade them.  MS would just release new ones, sell them and then sit back and collect 5% for each trade.  if they are not getting this in the works then they are dumbest sobs alive.  

the thing stopping this from blowing up is the cost of entry.  buy eth from coinbase (pay a fee), transfer eth to metamask (pay a fee), try to mint a cool nft and fail (gas fee down the drain), try to buy a .01 nft from OS and then pay $50 in gas.  There is just too much sticker shock for the average consumer who is used to the retailers absorbing the 1-2.5% fee for the convenience of using a CC to pay for stuff.

- Hell, i made my kids metamask accounts and transferred in few nfts from my account that they liked.  it was $20-30 a pop in gas to transfer as i did not want to wait around for lower gas.

[Nice Guy Eddie 13536]

55 minutes ago, gyroprotagonist said:

yeah, i echo @The Royal We   point on new money coming in. tip of the iceberg imo.  i wish i could find the link, but there are still only 200K or so active accounts on opensea.  https://cointelegraph.com/news/opensea-s-daily-volume-is-exceeding-its-2020-total

volume is going through the roof and they just landed a $100m in funding.  also talks about moving more and more to polygon chain for gasless transactions.  this would send MATIC through the roof.  

As far as Disney or other big franchise stuff, I think the thing that scares them is the ownership aspect of it.  imagine if they could not just send a cease and desist to what ever platform is using their IP and have it taken down in a day.  That scares the shit out them.  Yes, they would make huge money by doing a 10K generative Snow White project. But would they let the users actually own the NFT?  I think they will come out with their own marketplace that they will try and control and the fine print will read that users/purchasers do not own their fake NFT and cannot use it however they want.  It will be blasted by the real community.

I think companies like Microsoft will be next in this.  Imagine having Fortnite skins that were NFTs where users could trade and sell.  MS could partner with Opensea (or make their own) to create a xbox specific trading portal that worked on xbox interface.  people already collectively pay millions for those skins and don't own shit.  they can't sell them or trade them.  MS would just release new ones, sell them and then sit back and collect 5% for each trade.  if they are not getting this in the works then they are dumbest sobs alive.  

the thing stopping this from blowing up is the cost of entry.  buy eth from coinbase (pay a fee), transfer eth to metamask (pay a fee), try to mint a cool nft and fail (gas fee down the drain), try to buy a .01 nft from OS and then pay $50 in gas.  There is just too much sticker shock for the average consumer who is used to the retailers absorbing the 1-2.5% fee for the convenience of using a CC to pay for stuff.

- Hell, i made my kids metamask accounts and transferred in few nfts from my account that they liked.  it was $20-30 a pop in gas to transfer as i did not want to wait around for lower gas.

Owning the NFT doesn't necessarily mean you own the trademark or other rights of that product. You can buy a physical Snow White collectible at the store but you can't sell the rights to Snow White for a commercial. NFTs are the same. It's possible that an NFT could confer other ownership rights but it's not guaranteed.

great info about Opensea and their future. They're in a great position. I noticed they added Cloudflare security today. Perhaps they've been hit by attacks and/or too many bots.

Edited August 30, 2021 by Nice Guy Eddie

[gyroprotagonist 2595]

1 minute ago, Nice Guy Eddie said:

Owning the NFT doesn't necessarily mean you own the trademark or other rights of that product. You can buy a physical Snow White collectible at the store but you can't sell the rights to Snow White for a commercial. NFTs are the same. It's possible that an NFT could confer other ownership rights but it's not guaranteed.

a lot of nfts give the owner the rights to do whatever commercially with their nft.  not the brand as a whole, but say making a coffee cup with your specific nft on there and selling it is kosher.  This is from the Gutter Cat FAQ: Ownership includes creative & commercial rights of your Gutter Cat.  Disney would never agree to something like that.

- but other nfts may have tighter restrictions or co-ownership.  some lawsuit would probably determine who owns what real quick if say Disney optioned a Cool Cat franchise and there was some dispute.

[Satoshi 129]

Has anyone here used Solanart? Given the hype of Solana and lower fees I think people could move other there, but that’s just an outsider theory. Might be wishful thinking. 

[Nice Guy Eddie 13536]

30 minutes ago, Satoshi said:

Has anyone here used Solanart? Given the hype of Solana and lower fees I think people could move other there, but that’s just an outsider theory. Might be wishful thinking. 

NFTs have a network effect. You want many buyers and sellers. When you use non-Eth chains, you have to give them a reason to switch and make it easy. Crypto can be weird enough on its own already.

[gyroprotagonist 2595]

13 hours ago, Satoshi said:

Has anyone here used Solanart? Given the hype of Solana and lower fees I think people could move other there, but that’s just an outsider theory. Might be wishful thinking. 

i just started started setting up phantom wallet for solana and have followed a few auctions so far.  looks like they go extremely fast since there is basically no gas cost.  may try to jump in a mint soon and see how it goes.

[gyroprotagonist 2595]

nfa, but here is what i am doing to set up for solana 

phantom wallet - https://phantom.app/

this is one of the markets I have seen used - https://digitaleyes.market/

this is like etherscan from what i can tell to check tx - https://explorer.solana.com/

not sure i want to convert a ton of eth to sol.  need to get in on some mints and start flipping to build sol.  Solbears dropped yesterday and the price at mint was ~ 5sol per from what it looked like.  so $550 (i have not checked sol price this morning) with sol at $110 then.  so i don't know how much to convert.  maybe $2-3K worth so minting 3-5 is possible? 

 

[Nice Guy Eddie 13536]

NFTs fell apart today. I guess they were due for a drop. Might be a buying opportunity.

[gyroprotagonist 2595]

 

had some decent sales early on.  gas was just a deal breaker all day today.  I wanted to buy in on some cheap projects, but it was a no go right now.  here is a nifty tracker for several projects. https://wgmi.io/

matic is getting a workout with crypto raiders recruitment event going on now.  This is a huge first step for their defi system to see how it works.  First time that users are spending the in-game currency for a game related use.  these team has just been crushing it.

 

 

 

[gyroprotagonist 2595]

obviously not financial advice but this nft game that is in beta just had their first recruiting event where players could pay in-game currency and then create new nft chars.  these 'next gen' chars are now around .07 eth floor.  the genesis chars are still holding strong at .19 or so.

https://opensea.io/collection/crypto-raiders-characters?collectionSlug=crypto-raiders-characters&search[numericTraits][0][name]=Generation&search[numericTraits][0][ranges][0][max]=2&search[numericTraits][0][ranges][0][min]=1&search[sortAscending]=true&search[sortBy]=PRICE&search[toggles][0]=BUY_NOW

you can sort by generation with the filters.  the different races are mostly for cosmetic and recruiting bonuses and don't affect the game play.  so base chars are just as valuable as rares for the most part.

So the recruiting event ends on Sunday and then the in-flux of new chars will stop for a while but the market should be as buyer-friendly as it has been since mint (original mint was .01-.025) with all the new chars and people trying to sell.  could go below .05.  This is also on the polygon network so no gas fees for buying from OS which is a huge + right now.

here is their medium page with all the recent posts https://cryptoraiders.medium.com/ with posts about recruiting and their tokennomics.  it's a 'game' like ZED run is a race.  You don't do anything other than equip the char prior to a dungeon run.  better eq = better outcomes from the simulation.  The interesting thing here is that there will be a death component.  in certain dungeons that offer way better loot, there will a X% chance your char will die permanently; like your NFT is toast!  This is will help with deflation and keep char prices stable in theory as chars die and need to be replaced.

so full disclosure i own a ton of these chars but certainly not getting any compensation for shilling this. dyor and all that.

 

[The Royal We 3072]

I think Crypto Raiders is a good place for people to park some ETH that are worried about a coming NFT crash.  You should be able to make your initial investment back by playing the game and recruiting before a significant correction comes.

I don't have nearly as many chars as Gyro, but I've got 3 gen 1s and now 3 gen 2s after recruiting yesterday.  If the gen 2s drop down close to .05 I'll probably buy 4 more to get to 10 total.

not for anything, but I think this one could turn into a mini Axie game and that thing is a f'n cash generating monster.

[gyroprotagonist 2595]

BAYC under 40eth...just sayin'.  The Mutants are under 5.   Guttercats under 6 and gutterrats under 2