How To Find NFT Trade or Flip/Investment Opportunities
Posted On January 20, 2020
So how do you use all this information to find opportunities to profit from NFT trades?
Whether it’s short term flips or longer term investments, this article will go through some techniques I personally use to hunt for good trades.
Patience is Key
I know it’s hard to not fomo in on all these awesome NFT projects as soon as you find out about them but it’s important to do your research before you put your money down.
You might see some NFT’s for sale and think ‘these are extremely cheap’ but does that make it a good investment?
Let’s look at Decentraland’s cheapest lands for example,
They range from 11,000 to 13,000 MANA.
But just 6 days ago, contest winners recieved their LAND prize and some of them sold asap on the marketplace for under 11,000 MANA
NFT trading is an art of letting the deals come to you. You can’t force good deals. If you’re a day trader, this might make a lot of sense as you have to wait till certain indicators are triggered before going in on a position.
Just like that, you’ll find good deals come by every now and then and if you don’t have the money to capitalize on this, then it’s a missed opportunity.
Another example is when people list their Lands for sale on Gods Unchained or Decentraland Marketplace.
I was able to negotiate these down to 7.25 Eth Each privately,
Or I would have had to buy the cheapest Legendary Diamond at around 9 Eth if I had bought on the marketplace!
There’s also this beautiful estate for sale on Decentraland listed for 2M MANA for a while now.
The seller just appeared today saying he’d accept 1.5M MANA
The goal is not to wait indefinitely but it’s to understand that there’s opportunity everywhere so not get caught up in fomo. It’s better to wait for the right conditions or when someone comes to the community wanting to sell, there’s an opportunity there to negotiate and get it at a cheaper than market price.
Keeping a Spreadsheet – Tracking Leads
If you’re from a sales back ground, you’d know how important it is to track and follow up on leads.
Every person that pops up wanting to sell something is a ‘lead’. They have an interest to sell so are willing to negotiate to some degree.
Something as simple as the below,
I’ve kept a spreadsheet with all the people that wanted to sell something. I’ll keep contacting some of them till they are hot enough to sell asap.
If they know there’s an offer on the table then it’s an easier decision to make when they need to sell.
Notifications and Alert Bots
I have a few discord bots/apps or whatever you want to call it that alert me every time an item I am interested in is for sale.
Some people even have bots that auto buy items when they are under a certain price!
The first person to implement this for Decentraland Land made a good $10k USD just by picking up cheap plots quicker than anyone else when listed since he had a bot.
Going the Extra Mile
You can wait for opportunities to come to you, or you can go on the hunt to find them.
Some people have their emails and contact details listed on their listings like how I list my email/website on my Decentraland parcels.
So you can add these emails to your spreadsheet.
You can also search their eth address on opensea to find more NFT’s they may have for sale!
Keeping Ahead of the Game
The more you know, the better decisions you’ll make.
Reading up on NFT’s, keeping up with sales data and trends will give you much better insight into how an Asset might perform.
For example, gods unchained mentioned in this post they’ll be selling unopened chests to the community.
These are like MTG Original Booster packs or any card game original unopened card packs! Pretty cool. You would have known that Millions was poured into this pre-sale along with a big thriving community so buying these chests is a safe bet.
Now these chest prices have 2-3x’d in just a few months!
There’s so many opportunities in this space which is what makes it so exciting.
I feel the space is only going to grow so if you can better your skills and intuition this early, then you’ll do really well in the coming years.