Hey Degens,
Hope you guys are doing great. I wanted to tell you about an additional resource I’ve been using to track mints: NextDrop.
Their Twitter is pretty shit so I wouldn’t bother. But the website is super updated and organized pretty well. This coupled with the other resources I’ve shared before is all the alpha you need to track mints on your own and make decisions on your own.
But here’s a few more tips I’ve discovered along the way.
The more you mint, the higher the odds of getting a rare NFT.
Sometimes minting off the website is overrated. Specifically, when demand is insane and gas fees price you out. Go to the secondary market on Open Sea and watch the floor price. Usually floor prices dip when minting starts. Makes for easier pickings and less gas fees.
Assuming you follow everyone I follow, when you look into a project, make sure they have a handful of influencers following them. This means others will be shilling the project for you, which is always a good thing to create more demand.
If the project doesn’t have at least 10k followers on Twitter, and a good portion of those followers on Discord, then you should skip and find a better project that does. You don’t need to be buying an obscure project, you need as many eye balls as possible to sell the hype to.
If you have the capital for it, buy in bulk (5+). Sell 90% of your mints at max hype on Open Sea right after mints, and only keep the rare NFTs if you think price will appreciate in the future. This is how you make quick money fast (flip) and cash out on multiple ETHs in one play by holding rares a little longer.
Watch the sales activity like a fucking hawk. What are people buying? How much are they spending? Why are they spending more on certain NFTs and not on others? Study the ones being bought for high prices. What’s the pattern? The market will always decide a trait is rare even though the trait may not actually look or be rare. This is your hidden alpha.
Example: The Rogue Society trait that is super hot right now is the hoodie trait. I noticed the market spending more ETH on these by watching sales activity feed. They don’t look very rare, but people decided the trait is cool by the amount they’re spending. Find the alpha by doing the work. No one can just tell you this, except me. Because I’m awesome.
Stay winning,
- Scared Money