What NFT(s) I would Buy With 0.5 ETH today (10/17/22)
Welcome! To the first of 365 days where I will hypothetically have 0.5 ETH each day to buy NFTs.
The purpose of this case study is to see in a full year, whether bull or bear market, how much someone could make by only buying & selling NFTs. I will do my best to post at the same time each day and include visuals.
Part of me thinks it may only be a profit of a couple thousand after a year. Another part of me, the degen side, believes it can be over 6 figures and replace a full time job.
We'll find out.
What I would buy today
Today there's relatively low trading volume across most collections (thanks bear market) but there's always opportunity. There were two plays that caught my attention today :
Helix Founder Pass
Price : .26 ETH
Quantity : 1
The Helix founder pass is essentially early access to what looks to be like GTA but on the blockchain. In game assets such as cars, houses, accessories, etc will be NFTs which means players can buy and resell them within the game.
Why I think its a good play
Each person that holds a pass gets 3 weeks of early access to the game. Holders will also get airdropped a free car, house, and accessory. This will only be airdropped once to holders and NEVER again. Helix also raised $3.5 million already from investors prior to selling the access passes, which means they were never relying on a sellout. Gameplay also looks respectively similar to GTA.
Nyolings
Price : .12 ETH
Quantity : 2
Nyolings is "a collection of 7777 cute and loveable characters exploring the world on the Ethereum blockchain."
I must stress that most of these daily buys are NOT long term holds and should be flipped once the target sell price is hit. There's not much more info on these guys and the roadmap is very minimal with no actual plan set in place.
Why I think its a good play
I dont mean to sound like the project has nothing to offer than whats on the surface, but ive been in the NFT space long enough to know the difference between a long term project and a project meant to be flipped.
With that being said there were a couple factors that drew me in :
- low % listed for sale
- over 3,000 sales in 24 hours
- high(ish) % of unique owners
- decent twitter engagement
- half doxedd team
Target Sell Prices
Helix Founder Pass to me is not a quick 48 hour flip. I see a bit more longevity due to the fact they already have gameplay footage publicly released and over $3M in funds raised. My gameplan is to hold it until after I receive the airdrops and get access to the game, hopefully by then the target price is still met. * I will not sell before the aidrops even if target price is met * - .4-.5 ETH
Nyolings I believe have the potential for a solid flip, but nothing more long term. The project dropped 4 days ago (Oct 13) which means the first week may be the best opportunity to cash in. With this project Im happy to secure profits when/if the floor price hits .2-.22 ETH