I am going to show you why NFTs can make anyone a millionaire. All you need to do to Make Money with NFTs is: find a NFT bought at early stage for an affordable price and flip it for a profit.
In my case I bought an NFT for 0.239ETH, equivalent to 949USD at the time of the purchase.
I sold the same NFT 2 days later for 15ETH equivalent to 49,047USD at the time of the sale.
Which means I made 50x ROI (Return On Investment) corresponding to a profit of 48,098USD selling JPGs
How to find cheap NFTs before they explode
Here are some examples of NFT with high potential:
- PixelDoges NFT have nice a strong community around nice & simple art work. You can find as cheap as 0.05ETH (117USD)
- Secret Society of Whales NFT. These Whales have very popular art work and a very strong community who sometimes organize a NFT raffles for their holders (last one for about 200kUSD). Cheap Secret Society of Whales goes for 0.077ETH
- CryptoTrunks with nice art work for trees for 0.04ETH
Read here our guide on How to get started with NFTs
How to resell NFTs
Wait a few days for the price to go up and resell your NFT with a profit. Of course you can wait and see, but you will make more money selling NFT if you are on a social media to promote your NFT.
Twitter is the perfect medium for NFT. Although many consider NFT as a bubble, it actually does not matter if this statement is true or false. The likelihood for the bubble to burst is pretty high, but it does not prevent you to make money today with it.
As you are not planning on holding the NFT on the long term, you are not taking major risk with NFT. Just proceed with the buy/sell NFT strategy and surf the wave for a profit. That’s all that matters.
In the end, you are just growing your ETH wallet and have to consider taking your profit when you feel like it. Fix yourself some milestones or limits and stick to them to take your NFT profits
How to spy on NFT resell market trends
If you are following some influencers who flex muscles on their NFT Buy/Sell performances, you can actually check their performance by doing the following:
- Get their Opensea profile name
- Go to Opensea and type: https://opensea.io/ProfileName
- Click on activity and 💥BOOM💥! You have access to all their trades
You can now investigate their recent NFT transfers, NFT sales, NFT purchase… and the NFT price at which price the transaction has been executed. You will have on top of that the possibility to spy on their favorite NFT watch list, thus getting an additional market trend information.
How to spy on most profitable NFT accounts
The strategy here is to study, analyze and replicate what the best in their respective categories are doing to achieve success.
- pranksy (the most profitable)
Click on Activity, then in the filter select: NFT listings, NFT bids and sales. You can ignore the NFT transfers. You can now see what they buy/sell and which NFT they are minting
NFA – No financial advice included.