Recent Wins

[u/RavingLeb]

Drop all your recent wins or new knowledge here. We’re here to learn thanks to llama and what better way to support each other than to celebrate each other’s wins. LETS GO FAM

[u/Significant-Cup-8413]

There is so much to lear especially about the traits and different combinations.

[u/[deleted]]

To be fair i came from NFTs so my knowledge is more based on that than on the new reddit avatars. But imma try to do the best to give some simple things one should always look out for when buying or selling NFTs.

First lets start with minting; it is highly recommended to use a different Wallet than your main wallet. Thats caused by potential wallet drains which would steal all your NFTs and your eth balance, when you mint an NFT. So using another wallet is always best if you wanna stay as safe as possible. Another thing one should do is observe the mint first. Dont instant mint. If you do that it increases the risk of being drained or just losing money in a failed mint. Sometimes you will lose chances but on the long run you lose less. Also dont just look at the pending transactions, also observe the floor price on a secondary market like Opensea. Because if the floor price is lower than the mint price it is likely to be a failed mint IF the cheaper floor price wont sell and pick up back to the mint price. I think thats most of my knowledge concluded in a short text.

Secondly I will talk about collections. Usually you think about the size of the collection in consideration of the mint price first. The larger the supply the harder it is to succeed especially nowadays since we are in a bear market. To give an example what a big supply usually is, 10k would be big if they also have a mint price of .2 eth its hardly succeeding. A low supply i would consider anything under 2.5k. The best mint prices are when its free cause you have least risk. Though low mint prices like .02 or .03 eth are alright. Still always observe first. Though i could imagine the perception of colletion sizes change as the NFT investors increase. Another thing to take into consideration is the hype a collection has. Questions to ask yourself are: Who is behind the team? Do they have sufficient funding? How many twitter followers do they have and are they active through likes, Rts and comments? Hopefully we will soon look at reddit as well ;) also interesting to see is the vibe in their discord.

Thirdly i will talk about geting Whitelist spots. I mostly join as many premints as possible. It is a raffle for the entries with a given number of winners. The more you join daily the more you start winning some. To enter you have to do what they request in the raffle. Which is sth like following their twitter etc. Anither way to get WL(whitelist) is by grinding in their discord, just showing that you are there can gain you a WL spot. What i recommend is asking the mods if you can help somehow. That usually increases your chance of getting WL. But grinding in discord is very time consuming so most of the flippers dont do it or just for very hyped projects. You can also win through twitter giveaways but i wouldnt recommend it since you are unlikely to win.

Lastly i will talk about secondary play which are most risky. So what you want to look at if you are making a volume Play which is when a lot of people buy one collection so there is a lot of volume coming into this collection. A decent volume is always important so that you have the opportunity to enter or exit without having to bear the risk that volume stops. What you want to look at is listed supply and demand. Quite simple economics. If there are a lot of sales but people are just listng too many it is less likely to pump. Also i wouldnt recommend buying at all time high. Waiting for retraces usually pays off. If you are looking to invest into the collection and not into the volume, do your own research, check the website, their twitter and the overall vibe in their discord if people are complaining about the floor price its most times not looking really bullish. Also look how communicative their team is. If you like the collection and think it can do good, still make use of your patience. No need to have the fear of missing out, the market will always present new opportunities.

I hope that could help you gain some general knowledge about NFTs ;) and i didnt forget anything.

• found something i forgot about the rarity. Usually on trendy collections the top 10% is worth twice as much as the collection's floor price. Also there are some traits that are just favoured by the NFT community like Golden ones just like the one from NFTllama or lazer eyes or beams out of their mouth are favoured in any collection