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1. One thing I have noticed about NFT's is that once an artist see's us pay a certain price. Their next drop, they slightly raise the prices. It would be wise if you are starting a Nifty portfolio go go ahead and acquire early works on artists you like.
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2. In such an early market, the first hand full secondary sales set a floor. It would make sense to be one of the few who help define this floor to encourage future sellers as to what the value of the art is (just like comp's when buying residential real estate.
3. Some collectors are buying as much as they can of certain pieces.
- Kenny scharf like Tyler Winklevoss is
- @trevorjonesart like @etyoung did
- and there a hand full of artists who collect @twistedvacancy on the REGULAR
This is called "cornering the market.
- Kenny scharf like Tyler Winklevoss is
- @trevorjonesart like @etyoung did
- and there a hand full of artists who collect @twistedvacancy on the REGULAR
This is called "cornering the market.
4. One thing I have learned to expect from @niftygateway is that they care about helping artist develop their career. Many artists new in the digital art world are starting on http://NiftyGateway.com as an exclusive place for their art to be released (easier for current fans)
5. Secondary sales are what make pieces "HOT" when you start to see volume of sales happening, it could be a good time to buy if you are simply in it for profit and gains. If you are a long term hodler....well, even better for you. Use @opensea to track sales over time.
6. I like to use a balance of buy and sell for my portfolio. When selling I have made a lot of cash, but due to not holding I have missed out on prob an extra 10-15k. I don't sweat it though. I am more concerned about securing capital to do the next deal. Building a bankroll.
7. Now that I am about 6 months into collecting NFT's I have found a balance between holding and selling. The more I learn the more I want to hold certain pieces for a long time. With my experience I do not doubt I could replace my W2 within the next year.
8. As this space develops choose your own approach to how you manage risk. It could all blow up tomorrow, but I do not think ANY of us believe it will :) so take your wins, and don't put all your eggs in one basket.
9 . MY FINAL THOUGHT: my physical art dealer told me to collect a hand full of great pieces from my favorite artists. Collectors like to buy in bulk and will clean your collection out if they can. Use sources like @opensea to sell bundles when you are ready.
10. Just some random thoughts about NFT's I wanted to share. Have a great day and share with a friend who is new in the space! Happy to answer any questions.
Also, go join @niftygateway
Also, go join @niftygateway
