Flippin 101 Part Deux
Read the previous article first about flipping here.
So it’s been few months (around 5–6 months by this time of writing) since I first dwell into NFTSpace seriously. I’ll summarize a bit of my journey here.
I got into around into at least 50+ projects overall. I’m gonna break em down here in short manner. Not each and every one of them of course. My math is pretty bad and I round the numbers up/down a bit.
My first biggest breakout was Stapleverse
- Minted 2 feed clans then won another leaving me with 3 stapleverses, with 0.1 mint price each; that’s totalling around 0.33 including gas.
- Sold each at 0.48, 0.64, and 0.44 that’s gross profit of around 1.56 eth, and netting around 1+ eth
- Stapleverse (1st phase; feed clan) ath was around 0.6 eth and as this time of writing standing at 0.08 floor
Second biggest breakout was Zipcy’s Supernormal
- Minted 2 at 0.0888 each
- sold 1 at 2.4 eth (net around 2 ish after fees)
- sold the last one at 0.3 eth (around 0.27 nett)
- Supernormal ATH was at 6–7 eth and at this time of writing Zipcy’s Supernormal standing at 0.259 floor
Third biggest breakout was Billy M2k’s (Doge’s creator) Dreaming Doge
- Bought 2 editions of Dreaming Doge #8 at 0.088 each, cost me around 0.2 with gas
- Sold one for 0.3 and second one for 0.85, netting me around almost 1 eth after fees
Fourth biggest breakout was Zen Academy Genesis
- Minted 2 for 0.03 each
- sold first one at 0.15, then I found out that people still listing it at lower price at Rarible (around 4 times)
- I bought multiple second hand from Rarible sporadically and then instantly list em on Opensea, netting me overall around 0.3
- By this time of writing Zen Academy Genesis is standing at 0.32 floor
- Still holding one
Losses and rugs
Yes I suffered losses and rugs but thank god nothing too serious so far.
- I would say the first biggest loss was Ghostbusters Afterlife Collection. Mint was 0.09 (0.1 including gas), but the floor immediately dropped to 0.01, not really sure what happened. Decided to DCA with another one, so currently holding 2.
- Second biggest loss is Roborovski, bought second at 0.3 and now the floor is hovering at 0.03–0.04. Not gonna DCA this one.
- I haven’t sold those.
There’re multiple rugs such as Vikings and Villagers, Kong VS Kaijuz and Ella Orten DAO (yes I know). None of these losses from rugs ever break 0.2 barrier each.
Around 15 projects that I suffered loss I got rugged in 7 of them (their social medias and website gone, collection went to 0).
But overall I’m still profiting; my profit to loss ratio is around 4:1.
And from 50 projects I jumped in :
- Holding 12 of em (not planning to sell anytime soon)
- 15 are losses
- 23 are profits
That’s around 60% win-lose ratio.
And the unrealized ones (holding) hovering at around 4 eth now when totalling their floor value.
Most of the losses are caused by FOMO or blindly minting some stupid collection (some of them naming “Sombrero Donkeys” and “Do Not Mint this”).
There’re also free mints (cost gas only) that I profited too, naming Flowfields and Forgotten Cult.
Not bad for someone who started from 0 eth eh?
Wait. Started from 0 eth?
Yes. I literally started with 0 eth. My first few eth I got from NFT giveaways. I hang in their discord way too much I won several of their giveaways.
I sold some of them (netting me around 0.1 IIRC), and that’s when I got my first capital to start my NFT flipping journey.
Along the way I also got several paid jobs in several other projects as well like being a mod, community manager and advisor.
