What is the one secret that the top NFT sellers don't want you to know about how they consistently attract new buyers? How can you make a quick flip in these market conditions and how can you make a profit off you existing collection? These are a few of the questions we will answer today.
As you can see above 7 out of 13 of the last Hive Punk sales were mine. How is it that I am able to become the dominant seller even in a down market? Many people have said they struggle to sell even one of their NFTs at times like these but here I am making multiple sales per day. It is all about KNOWING YOUR MARKET.
The current Hive Punks market consists of one marketplace hosted by the Hive-engine, which has approximately 25% of the Hive Punk total supply listed for sale. Of these listed I have my first advantage in that I personally own more than 2.1% of all Hive Punks, which means 8.45% of what is on the market. So immediately that gives me an upper hand purely from a numerical standpoint of rarity, selection and sheer statistical probability. If you were to buy a random Hive Punk off the market there's a 1:11.83 chance that you're going to buy one of mine.
When Hive Punks first came out in 2021 the volumes on most NFT markets were substantially higher, as the sentiment was more bullish overall in the crypto markets. Once things started to tighten up and Bitcoin began crashing in November many investors began to also slow down buying and became much more cautious about which kinds of assets they were accumulating. NFTs, because of their highly illiquid nature, can be a very difficult market to participate in and the price fluctuations can be severe. Specific collections can also take quite some time to gain in popularity, months or even years.
The minting cost was 20 Hive per Hive Punk, which at the time was approximately $16.30 per NFT. When people buy and sell there is also a 5% fee that goes to Marky, the creator of the project. The seller receives 95% of what the buyer spent as a result, paid in SWAP.HIVE. Many people are valuing their collection in terms of HIVE because that is what they paid when they minted their tokens, however since HIVE prices are up you could look at this several ways. When I minted my Hive Punks I converted BUSD directly into SWAP.HIVE the day of, so I do not really consider my entry in terms of HIVE but rather in dollars. This allows me to have my second major advantage which is my entry cost for the collection- if I want to resell them for less than 20 HIVE I can do so and still realize a "profit" in terms of dollars (but not in HIVE tokens obviously).
Other tips that will help aide you in making a quick sale:
There are many other small influences that will affect the outcome of your success so keep experimenting with different strategies until you secure that sale!
