The bulls are back in town! Ether has been on a royal pump lately which is great news for those with the foresight to sell some NFTs and build up a sumptuous stack of Eth. I'm not one of those people, I learned very little from the first downturn and despite warnings from multiple people I kept a majority of my liquidity locked up in NFTs which I'm now slightly regretting.
It's been a stop start year so far as real life catches up with everyone at some point and this year has been my turn! I've neglected writing and researching the NFT space which is quite annoying as I was planning to throw myself completely into it and trying to make a living from Crypto and NFTs. Now that the majority of my obstacles have been removed I can refocus my attention on this space.
During this time downtime I came to the conclusion that to make this work full time and to build a decent amount of Eth I would need to find one good project a month to make the main bulk of my income. It sounds easy but as we all know things can change quickly in this space. For example one project I had high hopes for called MetaBlocks looked excellent, a rival for NFT Worlds. It was only a day before mint that I decided to have a real good look at the project, that's when the red flags became apparent. Very quickly on the day of mint the discord fell apart and the cries of "RUG DO NOT MINT" were coming from everywhere, trying to see the good in people I decided to give the team the benefit of the doubt and without trying to deter others I decided to see how the mint played out.
The mint opened and it was so obviously a scam I actually felt a small amount of embarrassment that I had nearly fell for it. They lowered the mint price from the original price of around 0.2 down to 0.1 then 0.05, it may have even gone lower than that, the pre-sale became the public sale and by the end they were practically giving them away trying to fool any sucker into buying one. It was so cash grabby I was expecting a hand to reach through my screen and start feeling my pockets. Sadly some people bought them but barely any, I think they made around 5 Eth which is pretty poor for a rugpull. On the positive side it was another avoided rug, i'm getting better at this.
I also increased my holdings in BYOLand and iNFTs this year, these are a couple of projects i'm very bullish about for the next 12 months so it makes sense to be picking these up along the journey. I still think BYOLand is so undervalued, the BYOPills ecosystem is incredible and right now I can't see many games that are going to rival it this year so for me it's not a matter of if but when BYO explodes.
ENS domains have dominated my purchases this year, there are few things as therapeutic as mindlessly bashing words into the search bar hoping that they come back green and unregistered. It's getting harder to find the gems but they are out there. Sometimes I wake up in the morning wondering what I was thinking when I bought it, as a disclaimer probably 90% of them are bought "under the influence" so my judgment could be cloudy. The last one I picked up, jupiterdao.eth, is a strange one. I saw other planet DAO names were registered but not Jupiter! Jupiter is said to be 2.5 times more mass than all of the other planets in our solar system combined so I thought if you're going to have a planet DAO you might as well go for the biggest planet out there!
Right now my focus is back to filling up my ledger again, I plan to take around 20% of any sale and spread it across BTC/LTC/ETH. There is money to be made I just need to stick to a plan and not hold on forever, Diamond Hands are great but they can work against you, no one wants to be holding to zero.
You hear it a lot but it can't be stressed enough, TAKE PROFITS. As the NFT market drops some absolute bargains are available, it's like watching the tide go out and seeing all the underwater treasure become visible!
Now go and stack that ETH, the NFT bulls will be back before you know it ✌️
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