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(1) Collectors Guide for NFTs | 101?
A thread from a
A thread from a
(2) It's very hard for me to go through all the basics so I will be specific and talk about managing risk while building and maximising the value of your portfolio.
Not financial advice. DYOR.
Just some of my personal advice.
Not financial advice. DYOR.
Just some of my personal advice.
(3) Specific to managing risk.
Basic investment advice (Warren Buffett):
- Never invest in a business you cannot understand.
- Risk comes from not knowing what you are doing.
- Beware the investment activity that produces applause; the great moves are usually greeted by yawns.
Basic investment advice (Warren Buffett):
- Never invest in a business you cannot understand.
- Risk comes from not knowing what you are doing.
- Beware the investment activity that produces applause; the great moves are usually greeted by yawns.
(4) Understand this...
I didn't make 7 figures from trading NFTs with low-risk, I was early; lucky, and I risked everything I had multiple times.
Do not expect to print infinite money or build an insanely valuable portfolio with small capital while avoiding high risk plays.
I didn't make 7 figures from trading NFTs with low-risk, I was early; lucky, and I risked everything I had multiple times.
Do not expect to print infinite money or build an insanely valuable portfolio with small capital while avoiding high risk plays.
(5) Now, even with low-risk plays, please don't invest more money than you are afraid to lose.
Okay, now, how do you identify NFT projects with potential?
Okay, now, how do you identify NFT projects with potential?
(6) Here is an article I wrote a couple weeks ago, this is the best advice I can give for you to identify good NFT projects: https://www.loop-news.com/p/identifying-the-best-nft-projects
(7) Most of the projects with insane potential are usually those with nothing to show for it until they blow-up, these are hard to find and if you are a beginner that is hesitant, then don't go this route.
Some include:
- CryptoPunks
- NBA Topshot
- Hashmasks
Some include:
- CryptoPunks
- NBA Topshot
- Hashmasks
(8) Allocate a % of your portfolio into the projects that interest you. Remember that NFTs are an illiquid market.
Enter into more projects that are more liquid, this could be coins like Punk-Basic or NFT coins in general.
Enter into more projects that are more liquid, this could be coins like Punk-Basic or NFT coins in general.
(9) Some coins are good to get exposure to the market and some are specific to projects in the NFT market.
A lot more liquid and less work for you to do research.
Most of the big NFT coins from 8 months ago have 100x'd by now.
A lot more liquid and less work for you to do research.
Most of the big NFT coins from 8 months ago have 100x'd by now.
(10) Maybe, you don't even want to sell, having a valuable portfolio can be enough and you are here long-term but want to use a specific amount of funds.
Hodl the projects that are currently successful in the NFT space fractionalised like Punk-Basic instead of CryptoPunks.
Hodl the projects that are currently successful in the NFT space fractionalised like Punk-Basic instead of CryptoPunks.
(11) No specific guide other than balancing your portfolio and risk if you don't have enough money to make big plays.
More capital = more chances
Don't FOMO in because you will get burnt. A huge chunk of my portfolio' is less valuable but...
More capital = more chances
Don't FOMO in because you will get burnt. A huge chunk of my portfolio' is less valuable but...
(12) ...“Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years.” ~ Warren Buffett.
Stay safe and don't lose all your money on trash CryptoPunk copies or tutorial .gifs on OpenSea, research and then purchase.
<3
Stay safe and don't lose all your money on trash CryptoPunk copies or tutorial .gifs on OpenSea, research and then purchase.
<3
