Original compilation: 0x137

Original compilation: 0x137

This article is based on the views of NFT player Cirrus on his personal social media platform, which is compiled and translated by BlockBeats as follows:

There is no whitelist, no bots, and no alpha internal groups, but I still make money in the NFT space through my own strategy, turning 0.6 ETH into 150 ETH. Now, I share all of these strategies with you.

1. Choose a solid project

When I first got into Crypto, I was always jumping blindly between various projects, and just one wrong hand would bring huge losses. It wasn't until I started focusing on a solid project called Lazy Lions that the whole game changed for me...

At the time Lazy Lions' floor price was already 2.5 times higher than when I first came across it in August, and I mention this to show you that you don't have to rely on your project to really skyrocket to be profitable (although it doesn't What's the bad), but only requires the project to have a stable transaction volume.

2. Take a hard look at traits and rarities

This part takes a lot of time and isn't easy to master, but it's by far the most important part of my strategy. Combining the "Listings" and "Sales" pages on OpenSea with sites like Rarity.tools will help you a lot.

I realize a lot of people don't even know the Listings page exists, so click on Event Type and select Listings and Sales. Here, you can view the actions of buyers and sellers in real time. This page is your textbook, and you need to keep learning it.

I studied Mutant buying and selling for a month in a row before I had enough confidence to make my first buy that I thought was a good deal. Once you understand the market well enough to spot good deals immediately, you can start sniping or bidding.

3. Make a purchase

My experience at the beginning is that if I think there is a greater than 75% chance that I can sell on the same day and make a profit, then I will buy. This is an extremely conservative strategy, but one that works well for investors with small capitals, as costs can be recouped quickly and compounded.

There are two main ways to make a purchase, one is to buy directly from the "Listing" page, and the other is to bid with wETH. But what a lot of people don't know, if you have 1 wETH in your account, you can actually bid as many 1 wETH as you want. Until one of the bids is accepted, the remaining bids will automatically expire.

4. Find opportunities to sell immediately

As soon as the wETH bid is accepted, I will price it and sell it as soon as possible, compounding quickly and getting ready to snipe the next deal.

After I was able to afford multiple Lazy Lions at the same time, I realized that as long as I could maintain enough liquidity to snipe an additional 1 or 2 Lazy Lions, I could push my selling price up a bit, the trick is to Find a balance between price and liquidity.

Whenever someone asks me: "What price should I price?", my answer is always: "When do you need to sell?" In the NFT market, you can sell at a low price and quickly, or at a fair market value To sell, you usually can't do both at the same time. Over time, you need to mix the two.

5. Liquidity is king

"All-In" is almost always the wrong choice, as long as the floor price drops a little, it may cause huge harm to you in the short term. On top of that, you won't have any ETH available to buy cheap NFTs from panicked sellers.

Now, whenever I see the floor drop, I get excited because I always have enough liquidity to make a few purchases. Practical experience tells us that for reliable projects, the FUD period is your best buying opportunity.

6. Establish reputation in the project Discord

The Discord of general projects will have a "Market Channel", where you need to post and interact every day, people in the community will know who you are, and trust you to conduct private transactions with you, which can save you a lot of Open Sea handling fee.

One of the biggest benefits for me of having a good reputation in the community is that people trust me to do private transactions with me and are willing to send the NFT first. I do almost exclusively private transactions now, which saves me a 6.5% fee.

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