A comprehensive guide to the NFT

1. Introduction
2. What is NFT
3. Types of NFT
4. How to make money with NFT
5. What is Mint, its types, methods, stages, problems.
6. What is GAS and how much of it is needed?
7. How to mint by contract?
8. Marketplaces
9. Useful Toolboxes
10. WhiteList and what to do with it?
11. How to Make Money with Mint?
12. Earnings on Flip
13. Flip of rare NFTs
14. Earnings on Pump
15. Buy on Warrants
16. Flips on the news
17. Flips on correction
18. General Rules of Flips
19. Final Instructions Written With Blood
20. Useful Links
21. Final

My channel - https://t.me/may_crypto_nft

Follow me - https://t.me/may_crypto_nft

This huge manual is a compilation of my knowledge from more than a year of working with NFT. I wrote the article alone, so omitting something is quite real and you should not judge it harshly.

In this fundamental guide you will find all the information you may be interested in, this and the ways of flips, which no one writes about, this and a guide on gas, which many have problems with, this and the contract mines, as well as many, many others, which will help you make money on the NFT.

I won't rant too much and get to the point! All of the information below is about working with NFT on the Ethereum blockchain

NFT or Non-Fungible Token is a unique token that is created on a particular blockchain (ETH, Solana, Wax, etc.).

The main point of NFT is that it can't be replaced, it is unique, like a snowflake, it can't be changed without being noticed.

The main purpose of NFT is to confirm the possession of the active. Now this model is beginning to be actively used in different areas of our lives. Music, games, text, screenshots and more.

The first embryos of NFT appeared back in 2012, at that time they were "Colored Coins". At the time, these coins had several uses, including the ability to be used as collectibles. Popularity to NFTs came with CryptoPunks, which were created in 2017. By the way, they brought such a meta as 10k collections.

With the basics taken care of, now let's move on.

To begin with, let's get a sense of what NFTs are, who takes them at all, and how they are used.

I have subdivided all NFTs into conditional groups. NFTs are bought for different purposes. Someone wants to support an artist or an artist, someone wants to have unique skins or game items, someone wants to make money, that's why they can be divided into different groups.

Now let's break down each group individually.

NFT in the form of art

This group includes the works of famous and not only artists. These NFTs create value through their aesthetic benefit to society, as well as bringing other spiritual joy. I have, of course, described it as crudely as possible, but it is enough to understand it.

If you look at pricing, in this segment the price is proportional to the weight of the artist's name. You can be incredibly talented, but your work no one will buy if Banksy spit on the canvas and sell it as NFT, the price will be cosmic.

If you decide to sell this category, always look at the name of the artist, as well as the platform on which it is presented.

A vivid illustration of the influence of the site can be seen when referring to Art Blocks. This is the most popular NFT platform where digital art is primarily housed. Works that are sold there consistently yield X's, regardless of the author's name. Of course, you can highlight the auction houses, such as Sotheby's, but that would be superfluous, because NFT is there more for the sake of hype.

NFT with utility

These NFTs have a practical basis that helps them stay afloat and raise their price.

Such NFTs can give:

1. Access to a closed alpha community (e.g. Mirror Pass)
2. Access to a gated community (e.g. Alpha Sharks)
3. Opportunity to receive royalties (e.g. Kataro Sharks)
4. Access to software (e.g. Trait Sniper)
5. Other bonuses (PreMint Pass, etc.)

The main essence of these NFT - the ability to use what is available only to the holders.

NFT game projects and metaverse

There is nothing to describe here. A prime example that even your grandmother knows is the sneakers in StepN. These NFTs are needed to work with their M2E project.

If you consider a classic game project, you can take SplinterLands. There NFTs are presented as game maps that we use on the battlefield.

Taking metaverses, the first thing we look at is SandBox. There NFTs are also used in the game. These include avatars, various buildings, lands, and more.

NFT musicians, athletes, etc.

The NFT data comes from the faces of famous personalities. It's mostly a kind of merchandise. These NFTs are not very popular, so I won't focus on them.

Of course, there are exceptions in such projects, for example CryptoBatz by Ozzy Osbourne. Their creators did wisely and mixed NFT project with a big name, which in its peak led to several ethereum!

NFT HYIP

This includes the dozens of collections that come out daily. These are various copies, ripoffs, etc. They have no value, and working with them is risky enough.

Other NFTs

White List

Using WL in any plane:

- Knocking out followed by selling, or minte NFT,

- Buying WL and mint NFT,

- Buying WL and reselling it.

All these options are great for beginners, because getting WL'a not associated with risks (except that 8 dollars for art), here is spent your time, not money.

Mint

Here also everything is clear, after the NFT mint we sell it more expensive in the secondary market. Of course, there are pitfalls, about which I will talk in detail further.

Flips

Buy cheap, sell expensive. That's just to make a long story short. In general, flips are different. These are flips of hype projects, flips of rare NFTs, classic flips, etc. About this I will tell in detail further.

Investments

Buying NFTs on a long-term hold. Basically we are talking about Blue chip collections, because guessing which NFT will go up from 0.001 ETH to at least 1 ETH is almost unreal.

Create a rug collection and walk off into the sunset

It's a joke, don't do that!

Mint - the process of creating an NFT.

Mint comes in two varieties:

A free mint is a mint in which we do not pay the creator of the collection, but only pay a transaction fee.

A paid mint is a mint in which we pay not only a transaction fee, but also the price set by the creator of the collection.

Methods of minting

1. Through the website that the creators represent. We go to the page and click the "Mint" button, the contract opens, we sign it and get the NFT. This is the easiest and most common option.
2. Through the contract. In this case, we go to ethscan, look for a contract and mint through it. What is the advantage of this method? We do not have to wait for the opening of the site. Having a contract, we can start minting before everybody else, because before the opening of the mint and the public disclosure of the page where the minting takes place, the time passes, during which the ordinary people can not start to pollute the network. All of this will help us to mint the right amount of NFTs unhindered.

Stages of Mint

In general, mint stages are optional, depending on the creators of the collection. Their number is not regulated anywhere, but there are two standard stages that many developers use:

1) White List sale.

The WL mint stage is different in that the mint is for a separate group of people who are guaranteed a mint. As a rule, this includes people who have actively interacted with the project, winners of raffles, etc.

The main advantage of this stage is that you are guaranteed a mint, which is why the price in popular WL projects can reach several thousand and sometimes tens of thousands of dollars.

2) Public sale.

In this stage, anyone can mint an NFT.

It happens that there is only a public sale or sale only for WL, it happens that there are several stages of mint. For example, WL category 1, WL category 2, public sale.

It's also worth mentioning the restrictions on the number of NFTs you can mint. These limits are needed so that a skilled fraction of people don't mint all at once. Usually it's a few NFT per wallet or per transaction.

The mint problem on the ETH blockchain

The main problem with mint on ether is the price of transactions. They can range from $0.5 to $3k+.

And the price of gas does not depend on whether the mines are free or not. The main catalyst for the growth of commission prices is the number of transactions. The more of them, the higher the price.

That's why the cost of free mint can exceed any reasonable standard, all because of gas prices.

There is also a side problem that stems from mints through the contract. Having the latter, skilled bots can start attacking the contract and start minting even before the official announcement, thereby taking away liquidity and shedding the market.

There is no upside to this, except for one, which is a profit for the bots.

If anyone does not understand, when a significant part of NFT is redeemed, botologists go to drain everything at floor price, thereby increasing the supply, with which the current demand can not cope. This moment leads to a direct plummeting of floor price to the bottom and fading of interest in the collection (I took an example of an ordinary, not fundamental collection).

Each ETH transaction is accompanied by a commission. This commission is called Gas.

What you need to know:

- Each transaction is accompanied by a gas.

- You can change the inputs, thereby changing the speed of your transaction

- You have two main factors to look at: Priority and Max Gwei

- If you are going to enter a high drop on a public sale, you should always count on gas war

Priority fee is a fee to the miners. The higher the priority, the faster your transaction will go through.

Important point - Do not change this value if you are not going to pay the full amount. I.e. if you set the Priority fee to 100, you will pay at least 100 gwei.

Max Gas Fee is the total fee you are willing to pay for a transaction. With this box you can play more, since it is only a limit on the amount you are willing to pay.

Why would you put a high maximum price at the mint?

If you set a low amount that you're willing to spend, and a gaswar attack occurs at the mint, your transaction will be delayed until the gas goes down.

Gas limit is better not to touch, because if you screw up there, your transaction will screw up and you will lose money (I lost $1k per transaction that way).

How much gas?

This is a very popular question that you see in any air sale.

To begin, I will write what to pay attention to when gas war

• General Supply
• Allocation for WL and Public Sale
• Hype near the project
• Is it possible to mine through the contract. If it is possible, then most likely most of it will be taken out by bots.
• At projected or existing price
• How much are you willing to pay
• How much are you willing to lose
• Do you have a chance to take

That is, if there is a public sale at free mint, where NFT is trading at 2 ether, and you have 0.1 ETH for gas. Here you should think about the flop and most likely skip.

What should I pay attention to when setting the gas?

• Is the contract available?
• Did WL have a mint? If so, see how much they paid for gas
• NFT's current price.

Tips

• Priority Gas is a key factor in miners
• Miners give priority to people who have the highest priority gwei
• Private nodes are your friend
• Set gwei which is not a multiple of 10 / 5. I.e. better 1001 than 1000

- Go to settings and click "Experimental".

- Turn on Enhanced Gas Fee UI

- Now send yourself a transaction with zero ether (0.00001)

- Press Market and go to Advanced

- Set up the gas you want and click "Save"

At the end don't forget to change the gas back, otherwise you will pay a higher amount for a regular transfer.

Why contract mint? I have already described, but I'll say it again. There are different occasions, the site where mint are held, may lie, the administration hesitates and send the link later than planned, but the mint will open in time, etc. In all these cases, you can not get the cherished NFT, unlike those who minted on the contract.

First you need to find a contract. Usually it can be found through the OpenSea or social networks - twitter / discord

Now that you have a contract, go to Ethetscan and go to the tab "Contract", "Write Contract"

Do not forget to connect your MetaMask, using the "Connect to Web3" button

Now look for something similar to "mint" / "public mint". In this case, the mint was located in the tab "spawnInfernal" (line 8)

In this line we need to put the data, namely the price of the mint, as well as the number of NFT that we plan to buy.

PayableAmount (ether) - ether, which we will spend on the mint. If the cost of a mint is higher than zero and you are going to mint several pieces, then multiply the cost of the mint.

Example: the price of a mint is 0.1 ETH, you are minting 2 NFT. 0.1*2=0.2 ETH. Write 0.2 or .2 (to your taste)

numberOfTokens (uint256) - this is number of nft, you are going to take. There is no need to be clever here, so just put the number you are going to mint.

These data we find out in advance on the site, or in social networks.

Press "Write", if you have done everything correctly, the window MetaMask will appear. There are two options here. If you get inadequate gas (several thousand dollars), it means that the mint has not yet started and you need to wait. If the price is adequate, then we confirm the contract and wait for the coveted NFT in your inventory.

Sometimes it happens that the developers put protection in the form of "signature", it means that ordinary mortals through the contract can not mint.

There are several basic marketplaces that are used when working with the secondary market.

OpenSea

It's worth starting with the largest secondary NFT marketplace, OpenSea. This site was the first to successfully start providing NFT listing services for sale. Due to the fact that it used to be the only marketplace, the site allowed itself a lot of bad things.

Frequent complaints about bugs, server outages, deleting collections for no reason, poor support, as well as a bunch of other problems were simply not solved, because they were the only one.

Now they have started to move and updated the design, added support for other networks, but the problem of monopoly is still there.

LooksRare

Marketplace, which tried to remove OS from the throne, but it did not work. The main problem was that the site could only use WETH, ETH was not quoted. The site also tried to lure with their token, but it didn't work out because people simply abused the coin scheme, which led to the collapse.

Now the site remains in the outsiders, giving way to popularity and convenience.

X2Y2

Marketplace distinguished by its low commissions, as well as the presence of its own token, which is issued for the use of their site.

The low commissions are not an empty sound. The marketplace takes 0.5% of the cost, and the royalty of the author on HYIP collections is often equal to 0%, which makes the site ideal for flips.

What to choose?

It all depends on you and your goals, if you want a quick flip, then choose OS, if you want to get more profits, then choose LR or X2Y2. For buying cheap NFTs, it is also better to go to them.

No matter how experienced you are in the nft field, it's almost impossible to do anything without tools. I'm talking about flips now. Looking for projects on Twitter and farming WL in them, no one is still stopping you.

What useful tools are there?

Minter bots

These are bots whose main purpose is to mint the NFT. No matter how fast your pens are, bots will always make it faster.

Analytical services

This is something without which a successful flip is maximally difficult to do. Such tools show all the information that can come in handy. This includes sales charts, sales walls, current listings and their correlation to sales and much more.

Sniper Bots

Snipers are bots that help you redeem rare NFTs first. These bots are popular during collection revivals, when you need to quickly find the top rank for a cheap price.

Wallet trackers

This is one of my favorite tools lately. This bot helps you keep track of the wallets you are interested in. Such tools are useful because quite often degens and whales buy this or that collection by insider information.

Also, quite often it happens that the owners of such wallets take advantage of their position and make a pump n dump of the collection.

Other tools

Above were described tools that help with flips. In addition to the above, there are third-party tools that make life easier. For example, Twitter tracker. It helps track activity on wallets. I.e. we can see which account is popular now. This is useful for buying HYIP projects or for tracking interesting projects or personalities.

WL, many people start earning their first money thanks to the white list.

The ways of earning, I have already described, are:

- Knocking out with subsequent sale, or NFT mints,

- Buying WL and NFT mints,

- Buying WL and reselling it.

No one has a problem with that. So how do you get these whitelists?

I can only give you a general outline here:

• Be active in chat, don't spam, but participate in the dialogue. Of course, in eng chats, because in others it's much harder to get
• Show initiative, organize games, events, etc.
• Draw or buy art, make figurines, make stickers and hang them around town, etc.
• Communicate with moderators or admins
• Participate in drawings held on Twitter and other platforms (Premint, etc.)

Once again, these are general provisions that can help you get a WL. Every project needs to come up with something different.

Safety when buying

An important factor is safety when buying / selling WL's. Often scammers like to take advantage of inexperienced participants in this relationship. Below is a list of popular scams that can lead to loss of money or WL.

Fake Guarantors.

You agree with the person to buy / sell and he offers his guarantor. There are two options for scam:

1) You are offered a guarantor of some unknown site, with a cheated audience.
2) Creates a group with fake guarantor verified site.

They ask for a nickname to verify

In this case, people will ask for the nickname of the account, which received WL, to send information about the sale administration and get loyalty and WL. In this case you get banned and you are left with empty pockets.

After the purchase, the data are leaked to the administration

This happens rarely, but it does happen. After the sale, information about the account is leaked to the administration and you get a ban, and the perpetrator returns his WL and stays with the money.

To avoid this, you must always be careful, as well as use a proven site. I also recommend working with guarantors who are over the age of 18, because underage people like to make up rules and leave their account and money with them.

In fact, this is the easiest way to make money on NFT and there is nothing to tell about it.

You can participate in both paid and free mints, it all depends on your bank. When participating in any mint you should consider the interest of the public, because if you underestimate it, you can spend on commission more than you get when selling.

Also, if you're going to mint with purchased WL, then calculate the minimum NFT value, which can get you a profit, otherwise you risk losing money.

In general, any ultimatum advice is not, for here everything is simple, the price of mint should not exceed the current value of NFT on the secondary market or its projected value, if this happens, then the mines skip.

There are many kinds of flips, here I will try to describe in detail all the types that I know.

The main essence of flip - buy cheap and sell expensive, ie classic speculation, only in WEB3

Flip Rare NFTs

Many people know about the flip and often practice it, but often everything is limited to buying nft for cheap and selling for more. There is nothing wrong with that, but in order to increase your earnings you need to grasp new heights.

Now I'm going to talk about rare nft flips. Where to look for rare nft, at what price and where to buy, how to buy, etc.

I'll start with the basics, namely why do we flip on rare nfts and who is it good for?

Flips on rare nfts is one of the easiest ways to farm money. This is due to the fact that working with a collection where the floor price has not moved for a long time, you can still make money on it. This way of flipping is suitable for people of different bank. It doesn't matter if you have $100 or $10,000 in your wallet. You will always be able to find a collection that works for you.

Where do I look for flip collections?

It all depends on your bank. If you have enough money, then go to OS and see what's at the top, choose a suitable collection and start conjuring.

If you don't have an extensive bank or there's nothing suitable in OS top, then go to AlphaShark and look for suitable options there.

What collection is suitable for us?

The most important thing - the presence of activity, because it is our main weapon. The more active the collection, the easier to catch rare NFTs on the cheap, as well as easier to sell them at a higher price.

How to catch rare nft?

You can use separate utilities, like "HowRare", which show the rarity of nft, but this is all masochism. The easiest way is to use TraitSniper.

There you can set up settings that will show you nfts with the top 10% rank, as well as the minimum price.

But there is one problem, the free version does not automatically update the table and we have to reload it every time. Since this is quite a nuisance, we will use another option.

On the right side we have another table with the latest sales / listings. This will help us.

We select the tab "Listing" and start watching.

At what price to take and sell?

There is no universal formula for all groups of nft, so I'll take the teer2 - teer3 categories and show by their example.

I was monitoring AlphaShark and saw high activity on this collection. Having entered OS, I found a segment from 0.006 to 0.01 Eth, in which the floor price fluctuates, with the price of rare nft starting from 0.015. I immediately decided to take advantage of this opportunity.

Such collections should always be taken at floor price, or with minimal markup, of course, taking into account the floor price on rare nfts.

As a result, using AlphaSharks + TraitSniper, I was able to raise several hundred dollars, minding my own business and occasionally glancing at the second monitor.

The time/reward ratio is excellent.

Of course, there's a risk involved, because if you get into a questionable collection at over-price you might end up in the red, so always count on the possibility of rekt

But if you did everything right and took at floor price, then the chance of rekt will be minimal, because in the worst case you sell at 0 or - a couple of dollars.

Conclusion

Here I did not delve into flips of expensive collections, because most of my people sit with the bank, which does not yet allow to flip the same BAYC.

But the provided information is enough to loot your profits on the tir2 - tir3 collections.

We are going to talk about Pump and dump. You've definitely heard of some Influencer who's been pumping this or that coin and then unloading it on other people. We'll be doing about the same thing.

Only we will act as vultures who eat up after others.

Let me tell you right away that this is a very risky topic, because it is as easy to lose as to make money.

Let me get to the point. We ourselves will not pump anything, because the audience we have no, and in general, we are nobody. Our goal - to enter with other popular pumpers. How do we do this?

We will use wallet trackers.

What are the principles of pump and how is it defined?

1. Low supply. Mostly use projects with low supply, up to 1k, rarely up to 2k.
2. Small wall. This means that FP is very flimsy and it is enough to sell 10 NFTs for a conditional x2
3. Small volumes. It's simple, the lower the volume of sales, the easier it will be to unload the instigators.
4. Low price. Usually select projects with a price of up to 0.01 ETH.

When we see a match on these points, we can think about a fly-in. I advise to do this if the price is not higher than 20% of the purchase price of the pumper.

This is due to the fact that as a rule the pamp is made to x2, and then there is unloading.

An example of such a pamp is "A FIRE BURNS (https://opensea.io/collection/a-fire-burns/activity)". Pamped by mikesnft.eth.

At that time it was possible to buy at 0.02 and sell in 10 minutes at 0.04.

If you're going to do it, always consider the OS commission and gas prices. By the way, you can bypass the OS commission by using x2y2

The OS has an option to buy NFTs not only at market price, but also on demand. For each NFT, you can make an offer at which you are willing to buy the NFT.

For example, the market price of an NFT is 1 ETH, you make an order that you are willing to buy for 0.8 ETH. The person agrees, thereby you obtain the desired asset 20% cheaper, after which you sell it at floor price and receive your profit.

The scheme itself is simple, but it works.

How it can be upgraded? Here it's up to you. One of the most obvious ways is to speculate on a popular collection. You can place orders on OS at 20% below the market value and sell at X2Y2 without commission.

It's all up to you and your ingenuity!

One of the safest ways to flip. The idea is that on the basis of some news we buy some asset and sell it at the flip.

The news can be anything, it can be a collaboration with a major project, it can be an investment attraction, it can be the purchase of a collection by a major company, etc. etc.

The difficulty is that you need to keep track of the collection or other projects, but it always pays off.

It will not be a secret to you that no asset can grow forever, someday the moment of correction will come. This is due to the dominance of supply over demand.

This method is risky and will not suit everyone, because many collections after the first peak, roll back to the bottom and it is quite difficult to catch the necessary iks.

The essence is simple as hell. When we start to observe a local decline in interest in the collection, and hence the FP, we begin to think about buying NFT. How properly the price drops by 30% to 50%.

If you see a similar drawdown and are confident in the project, then you can repurchase, do not forget to look for a better price on other sites.

1. Common supply. The higher the supply, the riskier the flip.
2. Hype and its quality near the project. By quality hype I mean its origin. There is a hype, which is formed due to the fact that the collection cooperates with a fundamental project or a blue chip, and there is a hype, which is obtained through a huge amount of advertising and accrual.
3. % of Unique Holders. The higher the % of unique holders, the better, because concentrating a large number of NFTs in the hands of a small number of people can lead to a quick dump of the collection.
4. Total sales per day.
5. Total commission.
6. Sales Wall.
7. Number of listings for a certain period.

Tips

- Do not flip overhype projects if you have little experience and a small bank. It's fraught with the risk of losing money.

- Use a fictitious balance.

By this I mean that you will mentally buy this or that asset, and then look at the result.

It will not replace real experience, because the same moment of transaction fails, the fact that you will not buy NFT for a long time can not be predicted, but thinly or thinly to improve the skills will help.

- Allocate to the flip the amount you are willing to lose.

This will help you to lose more easily and not to lose all the money, as well as easier to deal with defeats in the flipper field.

To begin with, all the advice presented here is written "in blood. If there is advice here, it is for a reason. Either I or someone I know has fallen for it and gone negative.

That is why I strongly advise you to read this part, because it will help you save the bank in times of need.

And everyone knows from childhood that fools learn from their mistakes, and smart - from others.

Also, let me remind you that 99% of the time, the flip is a fool's game, where every buyer thinks there will be a new hamster who will buy their nft at a higher price.

Always think for yourself

A rule that many people neglect, even though they realize that they make a mistake by flying into another noname topic on the advice of another crypto admin. It has to do with the same fomo and desire to make quick money. This is often seen in flips on solana.

Some channel drops information about the collection and the call to buy it. The person, going to the market, sees that the FP has increased by a few percent since the post was dropped. With the desire to earn more, he does not hesitate to buy nft. As a result, 10 minutes later FP increased by several tens of percents and the hamster will run to fix the negative profit.

To avoid such situations, you should ALWAYS use your head. No matter how unrealistic the dealer may be in telling you about the purchase, you must first recheck the project yourself, make sure it is good, recheck it again and only then decide to buy.

Don't flip in the tilt

A basic rule of thumb that gets nailed down anyway. Being in a tilt, the flip turns into a casino, not a way to make money. You start flying into everything, thinking that you're sure to flip in the plus, but in fact it turns out that you become the last fool and everyone closes in on you.

Remember, I wrote about how all advice is written in blood. I realized this on myself, when I bought C-01 for 2 Ether, and next day sold it for 1.44 ETH, losing about 3k$ on it. At that point I thought my best bet would be to buy NFT for overpriced. Even though I knew it was a horrible collection and would sell out in a matter of days, I understood that and told others, but I didn't listen to myself and bought it.

If there had been someone to tell me not to do that, I would have had money and nerve cells, but what happened is what happened.

Set sales limits

What are the limits? We're not in the futures market. That's right, we're not in futures, but we're still in a market where you have to put limits. Let me explain what I mean by that.

Before you buy an NFT (or other asset) you must set a limit, beyond which you will liquidate your position. You should know in advance what price of elimination is appropriate for you, that is how much in the red you are ready to go. Calculate the maximum price you are ready to lose.

Also set a profit limit. No matter how it sounds. Why set some profit limits, if you can catch the high? That's one of the main mistakes flippers make - they go down in losses, even though they could have fixed x's. Such limits should be set in order to find oneself in the plus. The most important thing is to keep your LIMITS in check!

Before you buy an NFT, you choose the approximate profit you want to make. After reaching and exceeding this goal, you begin to have thoughts in your head: "Maybe you should wait a little longer. I wanted x2, and I already have x2.2, now I'll wait for x3 and I'll definitely sell. This is where you fall into the trap. Often, I would even say in most cases, this leads to a zero or negative flip.

This is due to your greed, while you're watching your unfixed x's, the tipping point will happen, when the FP starts to fall, but you can't sell anymore, because FOMO. A couple of minutes you had x2.3 from your investment, and now it's only x1.8. You start to get worked up and think that your asset will grow, but in the end you sell your nft at 0 or minus.

Again, this is not taken from my head. I myself have fallen into such a trap many times, mostly it was on solana, because there are most of these instant flips. As a recent example, I may take Saudis, when I set 1.5, maximum 1.6 ETH. I missed it and flopped 1.7 ETH. I decided to be greedy and wait for 2 ether, as a result saud flew below my goal.

I believe that limits and following them is one of the most important, if not the most important advice you can take away from this article. If you follow your goals, neither your psyche nor your balance will fly into tatters.

Don't give in to vanity

I got burned on this, and very badly, so this point should be read very carefully.

You are happy with your success, you can start to fly into everything, thinking that it will be another easy profit, but something unimaginable happens and the project rekt or even crashes. But you do not pay attention to this and continue to fly into everything, this is not your fault, but the project is bad. Finishing a month, you realize that you have lost a significant part of the bank. Well, after that you start to flip in the tilt and that's it...

Again, these are not made up stories. I myself fell into such a trap and lost a significant portion of the pot.

If you're starting to see things like that, sit down and analyze the situation. Analyze the projects you've already lost because of your "flippancy", and find the red flags that were there, but you didn't pay attention to them. Work on your mistakes and you'll be happy.

Use other sites

Many people who flip use only the main platforms. If ether, then only OpenSea, if solana, then MagicEden, old-timers go to Solanart.

Although most have a clue about the other platforms. For example, there is x2y2 on ether network (We managed to get free money from them) with zero commissions. And there is CoralCube on solana, where nft list earlier than on ME. Also, they show the best price there, considering the listings on ME.

Using other venues helps to maximize your profits. When selling or buying nft all you have to do is compare prices on all popular sites and choose the best price. I've made more than a thousand dollars by doing this.

A prime example would be the HypeBears sale. At 1.3 ETH on OS, I was able to sell for 2 ETH on LooksRare.

This can be used not only for selling, but also for buying. Essentially you can arbitrage nft. Buying on conditional ME for x $SOL, and selling on OS for FP and get your profits.

This is a universal rule that applies to many areas related to finance.

But if you take the nft field specifically, you should always consider your bank and choose your flip network based on that. Let me explain what I mean by that in a moment.

If your bank is less than a thousand dollars, it is better to stay on solana, for there are small gas prices and also nft is not so expensive. I don't take into account the tier 1 collections like DeGods. If you take the average projects that are coming out now, the price of a mint rarely gets to 2 SOL. On average, it's 1 SOL or $30. If the flip or mint fails, you'll lose a couple dozen % (if you didn't take an outright scam) or a few $.

If you go for ether, immediately count on commissions equal to $20-50 per mint (if the collection has a HYIP) and $5-10 per listing. If you want to accept an offer, it's another $5-10.

That's not so rosy anymore, is it? And that's just gas prices. Factor in the fact that your flip might not work out. And by buying an nft for $300 you'll not only go down selling at - but you'll also give up 2.5% to the site and 5-10% royalties to the author.

In the end, you could end up putting out the nft for the same amount as you bought it for, you will lose $30-50.

It's also worth mentioning a trivial point. If you have a pot of $500, then you shouldn't buy an nft for $400, because you will lose a huge part of your pot, and you obviously don't need it.

Marketplaces

OpenSea: https://opensea.io/

LooksRare: https://looksrare.org/ru

X2Y2: https://x2y2.io/

Gem: https://www.gem.xyz/

MagicEden: https://magiceden.io

ArtBlocks: https://www.artblocks.io/

Analytical Tools

AlphaSharks: https://vue.alphasharks.io/trends

Mintify: https://mintify.xyz/

NFT Flip: https://review.nftflip.ai/

Flips.finance: https://www.flips.finance/

NFT Nerds: https://nftnerds.ai/

icy.tools: https://icy.tools/collections

moby: https://moby.gg/

TraitSniper: https://app.traitsniper.com/

Other tools

Mint Price Calculator: https://www.nonfungible.bot/calculator

Allows you to calculate the potential profit

Degenmint: https://degenmint.xyz/

Allows you to track current popular mints

Flips.watch: https://flips.watch/

Helps you keep track of your flipping results

DegenScan: https://degenscan.pro/

Allows you to track popular mines as well as some popular wallet activity.

This is the end of my fundamental work. In it I have listed all my knowledge gained during my stay in crypto. Some people may think that it is not enough, some people may think that it is too much, but the fact is still the fact.

This information is enough to accelerate greatly learning in NFT sphere on air. The above information is enough to stand on par with other cryptans who have spent many months learning NFT on air.

I'm sure this material will help more than a dozen or even a hundred people. I wish you good luck and success in your current field.

My channel - https://t.me/may_crypto_nft

Follow me - https://t.me/may_crypto_nft