Recently many of you will already be aware we have slipped into an NFT Bear Market, this means that trading activity is way below average and big blue chip NFTs are bleeding out whilst newly minting projects either don’t do as well or sell out then bleed out.
What does this mean? It means it’s way harder for you to flip NFTs for-profit and to hold on to certain NFT Projects may prove very costly in the short term and or the long term.
So how do we succeed during an NFT Bear Market?
Simple, don’t buy anything haha only joking, you can still buy but you will have to be very aware that the majority of projects don’t succeed long term anyway, and it’s even more likely that short term a lot of new projects will fail terribly.
- Be tight and only invest in ultra-strong teams and art projects
- Consider offloading some low cap, poor team, PFP type projects as they will bleed out badly
- Try to gauge the floor of Blue Chip projects such as Cool Cats at the time of writing below 4 eth (all-time high around 10 or more I believe)
- Utility providing projects such as Alpha Sharks or projects offering NFT tools that offer long term value
- Passes that offer Alpha, Whitelists, etc, that are now on fire sale but will be valuable again once things return to a bull market
The main thing is to be ultra-careful, don’t buy fast food mfers or some project that’s a free mint but has no website, utility or even a linked Twitter!
Turn the dial down on your degen during a bear market for real or you will get burned badly, patience is key, and think more about long term plays than short term, yes it’s boring but the glory days always return and you will be in a much stronger position financially and mentally when they do.
Remember when others are fearful be greedy and when others are greedy be fearful, do with that advice as you will but it stood me in good stead so far.
If you want to find the latest NFT drops to look out for check the NFT calendar section of this site and don’t forget to subscribe to the newsletter.