This article is written for those with 100’s or 1,000’s of ETH worth of NFT’s. I will be writing it with the assumption that you are the type of investor who wants to maximise returns.
The game changes a little once you’re at this stage.
List Slow Movers back on the Market
When Gods Unchained Marketplace first open I thought Diamond Cards would appreciate the fastest. There are only 5 – 70 Diamonds per Card. So I went hard and bought around 100 of them for 0.1 to 0.25 eth, (common and rare diamonds).
It’s been around 2 months since the marketplace opened and these prices are very much the same spare a few cards.
After learning the market a bit better and what drives market prices, I sold them for a similar price to my buy price and re-allocated my funds towards better potential investments.
Some cards have gone up 2-4x. In fact MOST cards have.
Keep the Majority, if not ALL of your holdings Listed
Wealth accumulation in my personal experience for NFT’s has been the ability to buy and sell quickly and frequently. This has made me MUCH more money than simply holding. I love to buy and sell and thus keep all my investments listed for sale. Every now and then I get a crazy high sale.
With NFT’s, people value them differently. For you, one of your assets may be a dud but for someone else it might be exactly what they’re looking for to complete their collection.
For example, this Diamond Mountain Greatwyrm sold for 1.75 ETH!
I could have easily gone back to the market and bought another 125 Meteorites which I can make another Diamond for at a cheaper price than this.
I’ve seen this play out multiple times in different projects. Especially Decentraland where I’d re-list as soon as I bought and sell or sometimes 3x the price the very next day!
I keep the majority of my holdings listed for a variety of prices relating to whether I want to sell them quick or long term.
The more you learn about the NFT world, the more opportunities you will spot. This point is similar to the above one to make sure you are keeping up with price movements across the NFT world and the reasons why.
With so much money in NFT’s, rarely is it a buy and forget strategy, mainly because you want to make sure you understand where the team is at, are they hitting their targets, are they moving forward even in bear markets and thus is your investment safe.
At this stage, there’s way too much to lose if your one wallet that holds everything gets hacked. It’s best to have multiple wallets with different holding to minimize your risk. From hard wallets to desktop and mobile, even paper wallets.
Plan in Case of Death.
Weird topic but if you have $100’s of thousands in NFT’s and god forbid, something happens to you, you want to make sure your spouse or someone you want your money to go to knows and understands how to extract fiat value from them.
Make sure you have a plan, someone you trust who knows the process and a plan to give the keys to your wallets to this person after death.
At this stage the majority of your strategy should be to increase your wealth AND Security.
A great article to read would be on NFT Risk Management.