After I was rugged 2 ETH by Fox Game and lost many ETH to many shitty projects, I started investing more slowly in NFT.
Actually, my losses made me scared and less confident about buying NFTs.
I missed My Pet Hooligan when it was at 0.2 ETH.
This project had some interactions with Alex Becker and Elliot during its prelaunch promotion.
I actually bought any projects that were mentioned by or had had any interactions with Alex Becker or Elliot in the past – like when I invested in Moody Krows and made some good profits.
But after I lost 2 ETH on Fox Game, I felt that spending 0.2 ETH on any project was quite risky. I prefer minting and flipping. It’s a lot safer.
Previously, I bought Woodie at 0.8 ETH easily…
After My Pet Hooligan was minted out, the floor price stayed at 0.2-0.4 for about 6 hours.
It was actually cheaper than what I bought Jungle Freaks for on the secondary market after it was minted out. At the time, the floor price of Jungle Freaks was 0.9 ETH.
But I didn’t take any action this time. I figured that if the price went below 0.2 ETH, I might grab one.
It didn’t go below 0.2 ETH, but went up and stayed at 1-1.5 ETH. I had around 6 hours to pull the trigger and make some profits, but I didn’t do anything.
The next one I didn’t take any action on was a project called “Aped-R-Us” – another project mentioned by Elliot.
The art was cool. I personally liked it. I watched the YouTube video and saw some influencers talking about it as well.
If I remember correctly, the mint price was only 0.08 ETH, which was not too expensive.
The thing was, it wasn’t minted out quickly during the launch. It took over 12 hours, and even then, more than half of the supplies hadn’t sold.
I saw Elliot reply to a tweet from Ape R Us, but there were still many supplies left and no sign that this project would be minted out.
So, I didn’t mint, even though I liked the project’s art.
The signs weren’t good. There were lots of supplies left and many people started selling them for less than the mint price.
Until FaZe Banks – another NFT influencer – replied to the Apes R Us tweet, saying that he’d “Just minted 70”.
In the next few minutes, tons of remaining NFTs of this project had been minted out. The floor price went up from 0.08 to 0.85 ETH in just a few hours.
This all took place while I was sleeping, so I didn’t mint and miss this one again. When I woke up and saw all this, I was sorry that I hadn’t pulled the trigger.
If this project had launched after Moody Krows, I would have minted at least 10 pieces, flipped them all, and made an easy 7-8 ETH in profit.
On the same day, I found another project named Girlies NFT. It was mentioned in the NFT calls channel in the CryptoZombies group.
It was an NFT collection created and illustrated by a 14- year-old. She was doing it for a charity.
When I found it, the price was around 0.08 ETH.
At the time, the Woman NFT was trending, and the Girlies NFT was the PFP for Woman, so the floor price of this project went to 0.4 ETH in just a few hours.
Again, I didn’t pull the trigger.
I talked to my friends, and it seemed like we all felt the same way. After making too many wrong moves, we were scared to purchase any NFTs.
So, I thought I should trade my NFTs in a different way.
Buying and trading My Pet Hooligan or Girlie NFT might make me a good profit, but you have to know when to sell them.
The Girlie NFT is now at 0.08 ETH. If I’d bought it at 0.10 and didn’t sell them quickly, I might still have suffered a loss.
Not every project will move from 0.2 to 1 ETH, like My Pet Hooligan.
Trading on the secondary market is still risky because we don’t know which projects will go up or down.
The safest method I’ve found is to try to get the Whitelist on any good projects, mint them at the presale launch, and flip them.
I now have a rule: Don’t buy any NFT at the secondary market until you’re making good profits.
Whitelist only. Mint and Flip.
At the time, I followed many influencers on Twitter and watched loads of YouTube videos to find projects and get the whitelist.
You can’t flip and make a profit on every project. Many projects are low quality and people don’t want them. You have to do your research.
When I find good projects, it’s time to get the whitelist.
Getting the whitelist for any NFT project is quite challenging and sometimes fun.
Here are some activities you can do to get the whitelist:
- Enter the raffle on the Twitter Giveaway.
- Keep chatting in the Discord.
- Draw the fan art and send it to the project owners.
When I got started, I joined many giveaways on Twitter.
Many projects do giveaways on Twitter. They let people Like, Retweet, Comment, and Tag friends on their tweets so their project will be seen by many people.
The chance to win this kind of giveaway is like 1 in 10,000, depending on the popularity of the project.
I think I did this about 50-100 times, but I never won any giveaways. So, I don’t do this anymore. It wastes time and annoyed the friends I tagged. (lol)
Keeping chatting on the Discord sounds doable.
There are many projects you can engage within the Discord, and the moderators will choose some standout members who have engaged a lot to get the whitelist.
I did that and got the whitelist spot from the Fox Game. I sent messages like “gm fren” (NFT style, lol), “How are you?”, or “Where are you from?”.
It’s actually ridiculous.
A project named Meta Eagles required people to keep chatting and reach level 60 to get the whitelist.
That required you to chat for something like 70-80 hours.
I hired someone on Fiverr to chat using another of my Discord accounts to get the whitelist spot.
I hired him to chat for 10 hours a day for over a week. I paid him $400 to do this and got the whitelist spot for this project.
I then minted two Meta Eagles at 0.25 ETH each (which was much higher than the average NFT project) and flipped them immediately at 0.85 each. I got 1.2 ETH in profit.
After deducting the hiring cost, I made around $3,000 in profit.
Not too shabby.
BUT, not every project will guarantee you a whitelist spot, even if you keep chatting all day in their Discord.
I could do that on the Meta Eagles project because they guaranteed that people who reached level 60 would get it.
This is the only project where I have seen this kind of guarantee.
Other projects will say something like, just keep engaging, helping people, or spreading positive thoughts. No need to keep chatting all day, because we respect your time.
But I’ve never gotten the whitelist from this kind of project, even when I hired my team to keep chatting for me for days. I wasted lots of money and didn’t get the whitelist.
So, I stopped doing this.
Next, creating fan art and showing it in the Discord. If you’re good at art, you might be able to get the whitelist easily.
But I’m not good at art. I paid my designer $50 to illustrate some fan art for a project, but I didn’t win the whitelist.
So, I no longer do this, either. But again, if you’re a good artist, you can try.
After trying the three methods above, I concluded that it was quite difficult to get a whitelist.
I could hire someone to chat in the Discord or create fan art, but the whitelist is never guaranteed.
Then I started thinking of becoming an NFT influencer because I’ve seen that most of them get the whitelist for all the famous projects.
Creating YouTube videos is not what I’m good at, so I tried to tweet something related to NFT.
After doing that for a few days, I decided that it’s not my thing. I haven’t had much success with NFT yet, so I had no idea what to tweet.
Enter the Twitter Giveaways – NO LUCK
Grinding in the Discord – FAIL
Creating the fan art – FAIL
Being an influencer – FAIL
So, I tried to find yet another way to get the whitelist.
I found out that some NFT projects can give you the whitelist.
I call this method “The Passive Whitelist”.
Actually, it’s much the same as a Twitter giveaway but has less people. Some projects do a raffle to give their holders whitelist spots.
For example, JRNY Club NFT has provided hundreds of whitelist spots for many projects since they launched.
The HeadDAO project I hold also does a raffle whitelist giveaway.
The problem is, this kind of group has around 5,000-10,000 holders.
The number of people who join a private raffle might be less than the number of people who join a public giveaway on Twitter.
But it’s still difficult to get the whitelist because this kind of project will get like 10-50 whitelist spots for their holder.
The chances of winning the raffle are like 10-50 in 5,000 or 10,000.
If you’re in many groups like this and join every giveaway they provide, you’ll have better chances of winning.
But this comes with costs. You have to buy many NFT projects and hold them. You can’t flip them for a profit if you want to join the giveaway.
I tried to find a group like this for a long time, and one day I found an NFT project that I could finally settle down with.
It’s called Nifty Nuggets, which is the profile picture I used for this blog post.
Please note that this is not a promo post for Nifty Nuggets. I don’t get paid for this. I’m just sharing my experience with this group. This is not financial advice.
Nifty Nuggets is an NFT project on Immutable X, the same marketplace where I bought and made some profit from Moody Krows.
I learned about this group from the CryptoGorilla YouTube channel. He suggested some methods to get the whitelist and mentioned this group.
The floor price of Nifty Nuggets when I was interested in it was around 1.5 ETH. I had to make sure it was worth the price.
So, I reached out to some Nuggets on Twitter and asked some Nuggets in the Moody Krows Discord for some recommendations (this group isn’t dead yet!).
After talking and asking some questions, I decided to join the Nifty Nuggets group.
This is an Alpha group of around 400 people.
The team will find whitelist spots for many good projects every week and do a raffle giveaway for their members.
The number of whitelist spots for each project ranges from 10 to 70.
The chance of winning a spot is basically 10-50 in 400.
You can try to get some roles in the Discord to get more chances as well.
This gives you a much higher chance of winning the whitelist compared to a group of 5,000 or 10,000 people.
I’ve been in the Nifty Nuggets group for about a month now, and I’ve already won 7-8 raffles.
No need to grind on the Discord or draw the fan art anymore!
I just enter the giveaway by clicking one reaction in the Discord and waiting for them to do the raffle.
Apart from the whitelist giveaways, there are many projects the Nifty Nuggets team invites to do an AMA (Ask Me Anything) in the Discord.
We get to hear what the project owners are planning for their projects in detail before making a decision to join them or not.
I’ve learned a lot from many project owners. The NFT industry is very new, and seeing what these people are doing is very impressive and eye-opening.
There are also many other channels where you can learn from other people – not only about NFT, but also Crypto trading, DeFi, or Mining.
Nowadays, I spend my days in the Alpha Chat channel in the Discord. People there discuss many interesting upcoming projects and share their thoughts.
I’ve made some good profits from projects they’ve mentioned as well.
It’s an excellent Alpha group to be in.
And this is how I trade NFTs nowadays. I get the whitelist for projects from Nifty Nuggets, then I mint and flip them to make some good profits.
After I make some good profits, I’ll try to use them to get Bluechip projects like BAYC, CyberKongz, CoolCats, NeoTokyo, etc.
(I have NeoTokyo S2 already. :))
That’s the plan for now.
—ifourth | Nifty Nuggets #446
P.S. This will be the last NFT Journey post I will write. I’ve described all the things I’ve done and am doing so far.
Let’s call it “Season 1”.
I hope you’ll learn something from my experience.
It’s not a great experience, because I made lots of mistakes, I know.
But I think it’s good to share one’s mistakes.
One can learn a lot from the mistakes of others, right? 🙂
When I have more stories to tell, I might come back to write more about NFT in “Season 2”.
Hopefully, I’ll come back with a lot more experience.
I’ll tweet from time to time, and you can follow me here.
In the meantime, I’ll find the time to write about my main business, which is print-on-demand.
See you then!