I wrote last week about capitulation…
and it seems that somehow…against all odds…I was for once ahead of the curve.
that’s because Jimmy listing a lot of his Bored Apes has caused *some* panic. are more big players leaving the space?
and while the Ape price floor hasn’t budged too much, there is a sense of unease in the space right.
so what should you be doing with all this uncertainty? I have a list of 4 NFT types you can use to pass the time right now ⤵
remember Axie Infinity? how about Wolf Game?
while their popularity has certainly waned in recent years, there are still hundreds of thousands of active users on Axie Infinity alone.
Wolf Game doesn’t nearly have that kind of base, but it still has thousands of die-hard, passionate fans (which is all you can still ask for at this point).
even more important though, both teams behind those games continue to build. this is important because as every capitulates, it’s nice to know that you’ll be able to play an *active* P2E game.
and from the NFT side of things, in-game utility is better than none at all. there are a lot of worse things you could be spending your ETH (or in Axie’s case Ronin) on right now.
so instead of getting in on the 5th PFP project that’s pumping this week due to influencer hype (looking at your Outlaws and Nakamigos), you could instead try your hand at NFT games.
Axie, Wolf Game, and countless other games have proven they still *might* be around once the dust settles.
NBA Top Shot / NFL All Day
perhaps, I’m really bored, but I regret to inform you I’m once again looking at digital trading cards.
I recently found myself in a conversation with a friend of mine. as a hobby, he’s taken up ripping packs of baseball cards. and suddenly, with his admission, all the good memories of me buying packs from NBA Top Shot came flooding back to me.
so I was stoked to discover that ripping NFT packs is *much* easier these days. on NFL All Day (the football equivalent of NBA Top Shot), I was able to go on the site, not wait in a queue, and snag a pack containing some of their S2 moments.
gone are the days where you would plan your whole day around a pack drop, only for it to be delayed, and then you ended up not even having the chance to buy one.
with the market in bad shape, I find myself going back to these kinds of “low stakes” NFTs. I just want to kick back, relax, and see if I can pull some cool cards.
I’m done trying to make generational wealth from a single trade of the hottest new PFP project.
as a *certain someone* drives Twitter into the ground, I have found myself spending more time on Reddit as of late.
(what a shocking turn of events for me)
and NFT lovers will be excited to hear that Reddit Avatars are indeed a thing there. in fact, they’ve just dropped a Gen 3 of Collectible Avatars with some artists you may have heard of (Nyan Cat!) and some you may not have.
either way, they’re cool ways to differentiate yourself on Reddit. I could see it being a big part of the communities there.
even better, these fall into the category of “low stakes” NFTs like NBA Top Shot. they cost as low as $5 and are really only used to style your Reddit avatar so you can flex while you’re shitposting there.
but as we’ve learned over the years with NFTs, sometimes a flex is the best thing you can buy…because it causes FOMO.
it goes without saying that *art* is likely the best investment long-term with NFTs. but speculating on art and collecting what you love are two separate things.
(it’s why I believe I’m particularly bad at trading NFTs)
if you want to flip art for a profit, you have to find out what is cool and what resonates with the most people. and at the intersection of what is “cool” and what “resonates” is that elusive term: IP.
IP…short for intellectual property…is what Mickey Mouse is for Disney.
the problem is that a lot of Web3 projects *do* have great IP, but it’s extremely hard to predict what will “hit” mainstream culture. and even if it does go mainstream, projects like Doodles have found it better to monetize in Web2, where the paths to profitability are more straightforward.
(and where they don’t have to drop a token and be privy to SEC guidelines)
so my advice is don’t buy for IP quite yet. Web3 is a few years away from producing a true “breakout” hit. so for now…just buy what you like. that way when you’re stuck with the bag, you’ll be able to cope better.
see you Thursday.
Lol NBA Topshot again? Like you said must be really bored haha but tbh I really enjoyed reading the advice you gave! ✌️