Not that you'd have to scroll that far down my blog to find part 1, as I haven't been posting lately, but here's a link to it if you wanna scroll through it quick.
I'm sure you've all heard all the hype that's been going on with NFT's lately, mainly on Ethereum but it does seem to be expanding over many other chains all focusing on it as if they have nothing else to innovate on. Voice.com seems to even want to make everything an NFT on their failed social media platform that has failed to garner any attention lately and the only reason I know this is due to some desperate emails I keep receiving from them lately. The hype around NFT's has been real to say the least.
With hype comes spam. There's probably tens if not hundreds of new NFT projects being created on a daily basis. Some with some innovation and trying something fresh, most just the same reskinned things of other successful first movers. I was lucky enough for my first big NFT mints to be successful, thanks to @hiddenblade who told me to check out World of Women as it was still being minted. With big I mean I minted quite a few of them, 5 to be exact for 0.07 ETH each which isn't something I usually throw crypto at that much but I'm glad I did with these.
It didn't take a long time for them to get hyped up, something that seems to drive hype to these is if other popular and successful flippers join either the minting phase or buying many shortly after. In this case the famous Pranksy had minted 10% of the supply of WoW which would cost around 70 ETH to do not counting the minting fees which would be another 5 ETH to be modest. Looking at the chart it has had about 3 "ATH's" so far which considering the little time it has existed is not bad. It reminds me of crypto charts of currencies but the pace is increased by many times and similar to them you can see that when volume dies down price goes down with it as well as impatient holders need the liquidity or those who bought the pump get out at a loss.
You'd think that people who buy NFT's would be a lot more patient and not attempt to flip that often, not to mention the fees that are involved that don't really allow for short term small price change flipping, but still a lot of gamblers in the scene who've looked at Cryptopunks and think it will just instantly pump to 3 digit ETH prices and that they need to FOMO in when they see the floor price rising.
I've made a lot of mistakes myself as well, so I'm not just judging bad flippers. I wanted to make sure to recoup the cost of the minting and sold one of them way too early. In one way it felt nice to just ride the other 4 "for free" but at the same time it wouldn't have taken a long time to wait to sell it for 10-20x more. Regretting that I decided to wait when the first good pump occurred as that should've been when I should've sold the first one, in hindsight it's of course easy to say that but my greed paid out and another pump occurred about 2 weeks later raising the floor price to almost 3 ETH and that's when I decided to strike and list some of them for the floor price at the time. Here's how that went:
Adding the first one I sold for .5 ETH these 4 netted me about 10.35 ETH minus OpenSea fees which is a decent ROI for a couple months from 0.28 ETH minting price (I'm just not gonna mention fees anymore as these platforms and blockchains are riddled with them.)
I'm still holding this one for the long term in case it decides to go crazy.
These are its properties and according to rarity.tools it's one of the 600th rarest WoWs out of 10,000.
These sales gave me a little more room to work with as I didn't want to input any Hive or other assets into this I didn't mint that often. At the same time I had to cash some of the ETH out so it's not like I went on a crazy gambling spree on new projects being minted. I decided to take my time and strike when it did seem to be a good one.
That's of course easier said than done, if it was easy they would all be in profit and if they all were in profit they most likely wouldn't give these kinds of returns.
After minting those Angel of Aether's as mentioned in the previous post I found a project that looked interesting. This time I didn't get to mint them directly but I found them right after minting price had ended, not sure what that cost was, my best guess would be 0.05 ETH, but I purchased 2 for 0.06-0.08 ETH each.
They are called Satoshibles, and as the name says they represent the poor Satoshi that the world thought had found the real one and media was harassing for a while.
I picked up this one cause it seemed very clean compared to the others, a realistic skin color and pretty cool features.
If you look at the others, you may understand what I mean by clean. This one didn't get as much hype as World of Women, but I liked it, it was kind of unique, and the drawing style was really nice. For some reason it reminded me of the TinTin series style but when I looked back at it it wasn't really that similar, hadn't read those books in decades. The one I picked up has a bit of a GTA feel to it as well.
Talks in Discord was that this project might interest Bitcoiners as they've pretty much been void to NFT's while shittalking Ethereum. Now a couple months after they mentioned that they're in fact going to connect it to the Bitcoin network somehow through a coin called Stacks. I'm not too sure about the details there or what it entails but sounds kind of cool so I'm going to continue holding the two of these NFTs I have. I used this one as my profile pic on Twitter for a while as well as I was sure it was going to do well and really liked the one I picked up. Noticed the other day it's the only one in existence with a black cowboy hat and the sunglasses it's wearing, so guess it's kind of rare. Then again compared to WoW and most other NFT's there's only 5,000 of these in existence with 1,600 owners so supply is quite limited.
Then there was a long time I didn't really have any activity in the NFT space, of course there were a few that flopped, I'm not trying to pain a picture of me being a flawless NFT flipper. I have them in the hidden tab on Opensea along with some spam that people send to others without asking as some sort of marketing or worse, attempting to phish people by following some links in them.
FWIW the last one in the screenshot below was a gift. 🙄
I noticed on Twitter that @martibis had started his own NFT project, so I followed him on there as support and picked up one from OpenSea as well:
I'm not really sure what the project will do exactly, but I managed to pick one that looked kind of rare relatively cheap and had a nice ID number and since it's from a Hiver I wanted to support the project. Looking forward to what it will do in the future, you can check out the website here: https://256art.com/
she told me about this one project that had been tweeted about some influential people and was currently being minted called Super Shibas.
I checked out the website, the art was kind of cute and noticed there were still at 6,000/10,000 left from the minting phase. I had just woken up so made some coffee and when I got back on the PC it was already at 8,800/10,000. I FOMO'd and minted 5 for 0.05 ETH each, something that would've cost 0.25 ETH ended up costing 0.37 ETH due to minting fees. Just disgusting really what's going on which will bring me to what I wanted to talk about next, but first here's how the Shiba's look like and a link to their OpenSea Collection page:
They're revealing only one per minute at the moment so the one's I managed to buy with ID # between 9000 and 9100 are yet to be revealed so can't really show off mine:
but hopefully I'll get lucky and get a really rare one likes one of these:
Okay so I wanted to talk about NFTs on Hive, especially the profile pic ones that have gotten so popular on ETH. It's really something that's going to thrive a lot more here where we have the social aspect already connected to the chain. Not to mention the lack of all fees and other ways NFT's can and will be connected to holders in diverse ways with HAF and smart contracts coming up. I'm really looking forward to see what will be created and would like to create something myself as well once I find the time and the right artists and developers.
Of course I'll also be interested in supporting other Hivers starting their own ones here so will keep an eye out for that, but feel free to let me know if there's something ongoing already as I don't have a lot of time lately to sit in front of the screen as I'd like unfortunately. Although I'm going to try and get back to it from now on.
Thanks for reading and see you hopefully in the next post that'll come sooner than once a month like the previous two. :P