My NFT flipping experience part 2

in NFT Investing11 days ago

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.

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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:

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I edited the transactions on mspaint for the related NFTs.

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.

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These are its properties and according to rarity.tools it's one of the 600th rarest WoWs out of 10,000.


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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.

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Source

I picked up this one cause it seemed very clean compared to the others, a realistic skin color and pretty cool features.

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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. 🙄

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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:

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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/


After buying an artwork NFT from @hiddenblade's "Crybabiez" Collection:

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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:

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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:

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but hopefully I'll get lucky and get a really rare one likes one of these:

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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


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WOW, you've managed to get to some series that do well. As you said: With hype comes spam. I'm not at all an expert on NFTs. To be honest, my knowledge is next to nothing. Though I've invested in 2 NFT series. One on the Avalanche chain, an NFT series brought to my attention by someone who usually has an eye for interesting crypto projects... so I bought a few, minted some and bought from the marketplace. One of the reasons I bought in, is the mechanics of the series: It gives reflection for each marketplace resell to all holders and a small percentage of each sell to the original minter. Kinda interesting. Though the series is 60% sold and not going fast anymore, so the hype for this series is still to be created I suppose :) Maybe this series is a mistake, who knows :) Also bought some animated GIF series, I think it's on the Poli chain, bit even sure. Need to check hahaha

Interestingly, have been watching some of the vids of YT peeps being way into NFTs. In general, they say: By far the most important for a successful NFT series, is: Utility. With that the mean to say: What can be done with the NFT other than just holding. They generally mention: DeFi elements shall be added, eg stake NFT earn xyz, or something like that. So maybe my Avalanche based reflection NFT series was not a bad choice after all.

What these NFT-guru's also say: How the NFT looks, or the quality of the NFT art itself is not really important. To me, this is so counterintuitive, but yeah, I suppose they are right when eg a Rocks series goes bazinga!

Pixelart seems to do very well these days. Another element to look at according to these same guru's I've been watching and listening to.

Anyways... Crap NFTs all over. Voice goes complete NFT indeed. Same as you, I've noticed this through emails. I have an account with them, from day one; The app downloaded and all. At some point, I wanted to open it, and the service was down. Relaunching: They said. Since relaunch, I didn't check it. Another NFT social media entered our world: Nafter. Have an account with them, but hardly check it. At first, I didn't like the content at all. Now, after a month or two, I think the content is becoming better, but I see Nafter as a marketplace, not a social media. The question then is: Do we need a marketplace like Nafter? It'll only contribute to more sh*t NFT content.

I think NFT is an awesome idea for preserving the provenance of artwork in a modern fashion. It gets rid of the middle man once again, which is one reason i love blockchain tech. I was a launch partner with MakersPlace and i did some beta works over there. I did a Spider-Man and also a Maximum Carnage that i sold for 20 or 40 bucks of Eth back then when they covered gas fees to mint. I think that Eth is worth about $600 bucks now after i already spent $100 bucks worth on other things.

I wish i had stayed active there with that. I didn't realize how much this shit was gonna blow up. It's still cool to think my art is out there and it's provably mine via blockchain and that it's worth so much just because of the first mover principle. Congratulations of your NFT endeavors as well as HiddenBlades' successes. Maybe Atari will catch up soon and it would be nice if all those Eth NFTers realized how much more economical it would be to mint and sell on NFT Showroom! Cheers Browski!

So cool that you were early in MP! Well it's not too late atm though it can be really hard to mint with these gas fees and especially there's a lot of artists on MP so would be harder to get exposure. I also didn't think this will blow up THIS fast haha it was only a matter of time before it did.

Thank you! And oh, I'm also still holding my Atari because I can't withdraw them from the site hahah. Hopefully it will gain more attention soon :D

I don't feel like it's too late but just the gas fees alone makes me not to want to even try over there. If i use all my Eth to mint and it never sells... then it will just be lost in limbo over there. It has grown exponentially and getting traction over there would be a massive uphill battle. The quality is insane too of some of the artists. I need to get to work and make some great art to up my game. =)

At least at the NFT Showroom... i know i can get more Hive so i don't feel as bad if things don't sell right away. Back then we weren't really sure about fan art and copyright for doing say the two Marvel characters i mentioned at MP.

Super congratulations for the traction you have gotten and your art is really good so it's no wonder how you do as well as you do! My hat is off to you.

I haven't given up hope on Atari! HODL even when you don't have a choice! hahaha
CHEERS

True. Gas so high :/ hopefully it will be gone or lessen after Eth 2 or whatever they call it. Oh yah, even until now we aren't sure about copyright stuff but at least we see less fanart now cos they don't wanna risk it.

THANK YOU! Thanks to those who support and appreciate what I do, it has helped me improve fast as well :D

You are most welcome! It's always nice to see people you know succeed. Especially in the arts. Yes, unless gas goes WAY down... or i get crypto rich i think i will pass on MP or anything on Eth really.

Even doing a swap to get my ERC20 tokens converted to something else is a financial nightmare. funny/not funny
Perhaps the switch to POS will get their lead foot off the gas over there. ALL these are perfect reasons why i love Hive!

Cardano would also be a great place to get in early on their NFT markets as a creative.
Take care and keep up the great work!

As an artist, I should really get my butt in gear. All the different platforms are just so confusing not to mention the horrible ETH gas fees. I did sign up for NFT showroom a while ago and Foundation but never listed anything. So many people throw their work out there for a few Hive as if their work doesn't have any value? Well, IMO some of the NFTs I have seen don't, but - if they get hyped they sell like crazy no matter what.

It seems a weird environment and somehow it is keeping me from throwing something out there.

Btw - just noticed, your footer pic's kitty is working on an Alienware, nice!! 👽 I'm looking at one now 😁

Yeah, it's probably a money thing, there's not that many investors let alone bigger ones on Hive yet that are interested in artwork and NFTs. On ETH on the other hand early adopters have become multimillionaires so they can throw a couple ETH here and there to support artists. I'm really looking forward to the space growing here though and at the same time investors joining and enjoying the direct connections they can have on Hive with artists and the likes. Not having to go on Twitter and talking to artists or artists hyping their stuff up there which only Twitter gains value from the activity. The possibilities of being able to be supported here exist in many more dimensions so looking forward to see that. I've bought a few artworks on NFTshowroom in the past and once my debt is gone I'm looking forward to stepping back in and taking it more seriously.

Nice! Never had an alienware but I wanted Mew to hold a laptop for when I'm writing posts (there's a few other footers where he's holding a console and one where he's holding a BTC and ETH coin for trading posts) and then I came up with Alienware cause of Mewtwo (if you noticed it's not actually the alienware logo :P)

Agreed, which is also why I made an account on Foundation. Hopefully, Hive will attract some investors in the not too distant future.

Yes, I did see that the Alien was really an alien with enough of a resemblance, good job to the artist I'd say 😉. Now I need to check out older posts to find the other footers with Mew.

Credit to @hiddenblade for it, she usually never does commissions so it's quite a rare piece. ;)

And off I go checking her out...

ya lucky bastard

shut up or i'll sell it

I'm glad you were able to sell the WoWs for fat profit! Even though you sold one for 0.5 you were able to make big gains on the next ones anyway. :D I believe in WoW's big fat potential so holding your last one is smart.

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Also look at my Shiba XD I hated that muscle (cos it's supposed to be cute! >:( ) but turns out it's what I'm getting T_T Glad you were able to mint 5 of these haha and me only getting 1 on the secondary xD good thing I told you about this too

Do you think you'll spend more time on NFTShowroom? I feel like the ETH opensea scene is cool, but the expenses being so high and the heavy focus on profile picture projects kind of turns me off.

tbh I think hive art has genuine 100x or even 1000x value type potential for the best artworks/artists from the first few years if the marketplace gains more adoption.

On the other hand -- is it better for an artist to focus all of their work minting on Hive? Or would it better to mint some stuff on ETH, potentially getting larger payouts and then being able to bring some of that money back into the Hive ecosystem? Almost a Robin Hood approach, earn it from the "rich" ETH collectors and spend it on the "poor" Hive artists so to speak.

IDK, this has been a huge area of interest for me lately, I appreciate you sharing your insights on the NFT collection and flipping stuff.

heavy focus on profile picture projects kind of turns me off.

I agree with that, I honestly haven't even been that active on there, what I wrote in this post covers most of my activity the past few months. I don't want people to think my lack of posting is due to NFT flipping, was just something I wanted to document how it's gone.

I just wrote a comment before I read this one saying that I'm looking forward to get more active on NFTShowroom, currently getting rid of some last debts I've had weighing on my shoulders in forever, both crypto and IRL. Hopefully 2022 will be less stressful in that regard.

About where to mint, I honestly don't know, there's been a few people I've curated on Hive a long time ago who've made it big on ETH but I haven't seen them come back to Hive or buy in even though I'm sure the amounts they've made has 10-100x'd what they've earned on Hive even if they were posting actively and got rewarded well. I guess it's a mindset thing, many are still in the "cash is king" mentality and only looking to cash out whatever they earn. It's hard to say or judge cause no one knows what kind of financial situation people are in before they enter the space but you'd think they'd appreciate their roots a bit more to at least drop in and say hi now and then - and not just when Hive pulls new all time highs. :p

Thankfully all activity is stored on an immutable ledger so we know who the people were that stuck with Hive during the good and bad times/prices to reward them accordingly. :)

Interesting post about the NFT world. Although I've done my research on this, I still don't understand it very well. I have seen beautiful pieces of art that sell for very little and, honestly, that stops me from trying to do something. On the other hand, as a freelancer, I have seen how the job offer for the creation of NFT in new games has grown in all parts of the world. It's amazing because they want to turn everything into NFT. I will be attentive because I will definitely do my thing at some point. Thank you very much for sharing your experience, @acidyo! 🤠

I am still totally oblivious to the NFT game and have NFI. I gave it a while a little while ago and bailed but getting back into it.

I don't understand any of the information in this post re: I.Ds and what makes things valuable but it appears a future promise of things to come is what seems to get it mooning.

Interested in learning more so I'll be following along your ride.

Not really sure I'll be posting about what it is, etc, it's kind of like art, what gives art value. Kind of the same mindset + new innovation like digital ownership and verification of legitimacy along with crypto hype in general.

Some of it reminds me of the physical modern art - as in paint splashes 😂

But in all seriousness, it really is a great opportunity for both audio and visual artists.

Awesome stuff brother. Either way there was a bit of info in this post so I'll run through it again. Quite alot to learn in this space.

……….😮
NFTs (generally) are simultaneously the coolest and the dumbest thing around. I’m happy artists and you are making money. I can’t really get into it but I’m cheering everyone else on.

I only managed to sell one of my NFT works( the first one) so I tried to convince myself that hype around this thing is gone. Still it is nice to know that it works for others.

Nice flip! I'm still a bit dubious about the current state and worth of Nfts so I've been watching it only. Some big flips, but I'm likely to get burnt as I can't see the worth personally!

What is your opinion on the Wax / Atomichub NFT situation? I have been using it to make a few, and once I figured it out started liking it. I'm still very new to it, but am slowly gaining confidence. I wouldn't have been able to get involved if Eth had been the only option, so I am grateful for it despite the RAM fees for storage.

I don't have a lot of experience with wax at all, I tried to buy some Street Fighter NFTs as they were launching. The sign up process to receive an online wallet was easy but the website of the NFT going down during the sale and them only selling for credit cards was a big turnoff so I didn't really continue using it from there. As an overview I don't think it's bad, the technology they run on is EOS I believe without the annoying costs, but I believe Hive is superior and once RC is delegatable by itself it's going to be very scalable and interesting what will happen then.

They still only allow drop purchases with credit cards, just so you're aware. Funko has been doing NFT drops on there over the past few months, Like around 30-40k packs. But, the queue system they use makes it almost impossible to even buy any packs firsthand. Every time I've tried to hop into it to grab some there's always 40-60 thousand people ahead of me. Their big incentive to get people to buy NFT's is that the very rare ones come with a token that allows them to be turned into a physical product linked with the NFT later on.

I'm not a huge fan of WAX, but, they're definitely at least pushing to get more mainstream audiences interested in the NFT game at least.

It's sad that they won't take their own currency. That seems counterproductive to the goal of getting people to buy it and drive up the price. I'm not an expert at running a project, but if I were leading one I would certainly encourage people to buy.

It just doesn't make sense to not allow the use of your own token or coin on your own platform. For every possible function. If anything I would think that it would be made the preferable method, perhaps with a small discount. Hey Wax guys, getting coins off the exchange is a good thing!

!PIZZA and !ALIVE

sounds like the same issue plaguing most limited nft projects, bots, bots, bots.

Bots definitely are a part of it with how many people are waiting in queue to grab them probably. But, the queue system itself is just shit, man. It randomly shuffles everyone who joins it. So, you can either join it right at the specific time it fully opens (2pm est), or you can wait 3 hours ahead in queue and it makes no difference, because, it'll just throw you towards the back if you're unlucky.

Honestly, they should either do a lottery system, or just do first come first serve without a waiting queue. They limited the amount you could purchase per account thinking that makes a difference ($30-60 IIRC), and it probably does a bit. But, it's just not enough.

You Are Alive and have been rewarded with 0.1 ALIVE tokens from the We Are Alive Tribe, and it's paid for by the earnings on @alive.chat, swing by our daily chat any time you want.

For me as a creator the free minting is a huge draw. I had to invest a small amount initailly to have enough RAM, CPU, and Net, but these are renewed except for the RAM.

That being said, I haven't had to buy more RAM yet. But I know collectors who have to fairly regularly. The creation process is also
pretty user friendly, but there are no guides onsite so it's trial and error at first.

!PIZZA and !ALIVE

You Are Alive and have been rewarded with 0.1 ALIVE tokens from the We Are Alive Tribe, and it's paid for by the earnings on @alive.chat, swing by our daily chat any time you want.

voice.com, now that's a blast from the past. I had forgotten about it.


The rewards earned on this comment will go directly to the person sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.

you are such a talented guy,wish you the best in life, thanks for sharing your talent with the hive community.

Art Nfts are to retarded for me :D Maybe I miss out on something really brrrrrr. But I cant do it :D

High fees and close to useless jpeg ( you never know someone will buy it after you).

Really interesting to see your experience.

Btw, if you make millions, you can think about make an investment token like @empoderat. I think this i would buy to look what happens and not to have to deal with that crazy stuff :P

GL!GL!