Recently, one blockchain developer and NFT addict explained how he “turned 0.6 eth into 150+ eth while sticking primarily to two projects.”
According to a recent and lengthy Twitter thread, one NFT trader shared their experience of making a small fortune by leveraging the current excitement and massive capital flooding the NFT market.
Twitter user Cirrus claims they were able to generate a profit of nearly $500K without relying upon whitelists, bots or “lucky mints.” The trader claimed to primarily focus on two projects in the NFT space, and recommended others do the same by finding a proven project, rather than jumping around at random.
Cirrus settled on the Lazy Lions NFT collection, which is up about 2.5x the price it was in August 2021. According to the trader, the project’s relatively modest price gain indicates that smart traders can make big money without the project necessarily turning parabolic.
The trader said investors should study the traits and premiums of their chosen project, which could take hours, but is “by far the most important piece to this puzzle.” He “watched the Mutants listing page for a month straight” before feeling confident enough to make my his purchase on something that seemed like a good deal.
Cirrus gave a number of other useful tips to new traders, including focusing on liquidity rather than going all in on a single trade.
He recommended traders to get involved in their projects’ Discord marketplace channel in order to build trust with the community, which can often lead to private deals.
Near the end of the thread, he listed the key takeaways:
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.