After playing around with NFTs for a few months, here are the steps I follow based on lessons learned:
1. Follow a theme -> Historical collectables, Utility, Art, PFP…
2. Creators -> Solid reputation
7. Avoid high creator fees -> Ideally max. 2.5 %
8. Avoid getting sucked-in by the hype -> Stay rational
9. Timing -> Buy when is ETH is low and NFTs are down (like now ;)
10. Be patient and buy rare items off the floor or send offers -> Don’t over pay
11. Investment horizon -> Min. 6 months
12. Avoid high gas fees -> Trade on weekends
13. Go for quality over quantity but diversify portfolio
14. Timing -> Sell when ETH is high and NFTs are up
15. Repeat
Thoughts?
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