NFT/Digital Collectibles Advice?

[FistFullOfCash]

So a guy I know has a son doing NFT tradeable cards. I saw this on the news before and was instantly curious. I had him call his son and he recommended VeVe App. I downloaded and spent $285 or so on gems to buy draws for Marvel cards before they sold out. I drew 3 Ultra rares and a bunch of others, checked the value on the market shortly before the draws all sold out and Im already at $650 in gems. Since it just sold out and people will be possibly scrambling to get the scarce cards in a while with no more draws, Im wondering how much these will go up in a week?

50%? 2X? 3X?

I think I was just lucky. But I imagine if I sit on these as this craze grows it could very well increase the value of what Im standing on. How long should I wait before dumping these, I was thinking like a week? Though the kid on the phone did "research" before passing on minimal info to me and he suggested keeping they 2-3 years. I got a couple YT channel suggestions out of the talk too.

Other than the Ultra rares and a couple rares out of the Fantastic Four series, I managed to make a couple sets. I also got one card that was like FA#20000.....Im having trouble thinking of a price for this odd number.

Im seeing this stuff explode. I hear theres games that deal with NFTs too. Theres a lot of info flying around, but would you say there is any good in reselling stuff from the marketplace too?

To address any negativity, I realize somethings are trends. Ive seen Beanie Babies, Furbies and all that crap trend wayyy back when people bought them for me a child.

Looking for any input on this before another Marvel set drops....

 

[roydan]

The previous NFT trend crashed in 2017, together with BTC and the rest of the crypto world.
You can assume that there's some sort of correlation between NFTs and bitcoin's bullruns, but it feels like there's something else this time and I can't quite figure it out.
I don't trade NFTs because I don't understand it well enough, but it looks like you made some good desicions.
You have 2 options here:
Sell / Hold.
If you sell you can enjoy your money or you can re-invest your earning and keep the risk to $285 (or just reinvest your profits and trade risk-free).
To be honest, X3 in 2-3 years doesn't sound too good to hold, but again, I don't understand NFTs good enough.

 

[FistFullOfCash]

The previous NFT trend crashed in 2017, together with BTC and the rest of the crypto world.
You can assume that there's some sort of correlation between NFTs and bitcoin's bullruns, but it feels like there's something else this time and I can't quite figure it out.
I don't trade NFTs because I don't understand it well enough, but it looks like you made some good desicions.
You have 2 options here:
Sell / Hold.
If you sell you can enjoy your money or you can re-invest your earning and keep the risk to $285 (or just reinvest your profits and trade risk-free).
To be honest, X3 in 2-3 years doesn't sound too good to hold, but again, I don't understand NFTs good enough.

Since Im only really moving money as I see it while dealing with this stuff, I have a lot of decisions to make. Looking at some that sold 2 weeks prior, it seems they appreciated some, but they were the first to drop of the series.

I could cashout to OMI, but Im thinking the price of the collectibles may outperform the crypto since they are more scarce. Im betting on these collectible cards over the crypto. Too bad I dont see a option to sell by the set.

Im definately going to try my luck on the next Marvel drop, but I dont know how to stay notified when these drop. My best bet now is to form a group of friends to follow this stuff who can tell me when the opportunity arises again.

I was holding crypto for a week and it didnt take off like expected. Guess it takes new money in to really blast off into a bull market. I see this NFT stuff more as a limited opportunity than something so scalable right now, unless I can create my own content somehow. Theres reports of 12 year olds even making bank in the NFT space right now. People on Reddit are talking of 37 gem items becoming 1000 in a years time, perhaps unrealistic, but Im not sure.

Was checking Google Trends and it seems up for what keyword I was checking. Now Id like to check the number of app installs of this VeVe app to really gauge how its trending.

The only thing I know that is this easy to flip is Supreme to Stockx, but I cant seem to get a order through of their logo'd gear without the help of a bot and such.

 

[roydan]

NFTs took 2 complex fields and put their complexity to the power of each other: Crypto trading and Collectible Art.

I have nothing smart to say other than wishing you all the best with that.

 

[FistFullOfCash]

So far I have 31 collectibles and 2 low ticket sales. But the beauty is I have about $400 into these digital items. I can maybe milk $500-900 out of that since I have some very rare ones. Im just rolling any sales above market price (not yet actualized profit since its below the draw amount on these low ticket sales) back into more inventory.

I see on the new listings stuff popping up below market occasionally which is definitely opportunities. I could do follow for follow, that maybe will bring something, but I think that if I produce content into the feed Ill get better results.

I have some eBay background and I know not to be the guy selling at $3 for commons (theres these people....). Im actually testing higher prices than the low low and sales have been trickling in with 2 (1 common/1 uncommon) since I set up my listings a few hours ago.

 

[FistFullOfCash]

Ok....

12 Sales so far, 3 high ticket and 9 low ticket. Lost some money on the Cap America drop though since prices didnt maintain $950 on the Secret Rare. This item sold out on the drop in 1/4th of a minute it seems because before I could load the page they were all gone. Im seeing you can make money on the drop, if your lucky enough to pick up a Secret Rare, Ultra Rares too. This stuff appreciates, BUT theres was too many people flipping compared to people who are just collecting. If you can pick up $3 NFTs after a blind box offer when people dump them into the secondary market then you can make some money I think.

For instance the Marvel Mighties were $3 in market, now theyre approaching $5 for those a couple days after the blind boxes sold out. The market fees are 8.5% total which eat up a lot of potential.

Ive seen half a dozen steals so far, but didnt have gems to pick them up on the secondary market. So they do happen. For instance there was a Cap America Ultra Rare for $227 (Lowest is usually $300).

Im thinking of dumping my inventory and moving on for a while, but Ill be back into this again for sure and try out the next drops.

 

[achiever2011]

Do not hold for long. It can crash anytime.

 

[FistFullOfCash]

I put in $1730 or so, I have $2040 worth of inventory once successfully sold, but Im continually reinvesting. I have a lot of inventory now, some I overpaid (Dang Cap. America!!) because I bought blind after a drop without much to compare to. Now I got sales trickling in from collectors. You can buy deals all day and make $1 on each, its ok, but Im looking to do more. Obviously theres more money on the drops to be made in both main and secondary markets when these happen. I got 57 sales with my methods so far. Im not making a killing, but its growing. I think the Marvel will maintain better than others. Im looking more for sales velocity than appreciation, but it helps. I had 20 sales one night when I slept, which was good, but thats because the bottom floor of the market on one of these characters rose to a new level to where I had these little guys listed. I gave $50 to a family friends account too to get him started on this, but doubt he'll take action. All in all its just ok, but Im just getting started.

Heres the thing....if you know ecommerce a little you know you dont have to have the lowest price. I know this sounds crazy because these characters are the same thing, but people will come allong eventually on this platform and buy over the lowest price. Its free traffic, the only pain is the market fee. I know from eBay inventory on the shelf (aka listings) are better than auctions. However, I do auction my rare FA#s for faster sale because they would sit too long so I let the auctions judge the value on these as opposed to having my money tied up forever. Had a odd FA# sell for $27.50 when the lowest value characters were going for $3.50 or whatever.

I should mention I had a Secret Rare sell for $75 over the lowest value one on the secondary market, but it was frustrating to say the least to be worrying about. I dont like risking my time and money on that. Captain America is cool, but its not Spider Man by any means.

I know its somewhat scary knowing the market could tank. But Im betting it wont happen all of a sudden, atleast on the Marvel goods.

So whats next? Im looking to maybe expand to new markets such as OpenSea, selling cross platform and such.

 

[ozdude68]

Read as much as you can and watch YT. I recommend learning how to make your own NFT so that you understand the complete process from start to finish.

 

[wizeman]

anyone know how to convert tokens back to usd on VeVe?

 

[FistFullOfCash]

Ive looked into PoD (print on demand) some before. If I go into making NFTs I may as well do some PoD listings on Amazon Merch etc. But yeah thanks for the nudge, Im looking into the YT videos now though having had seen some other peoples work, it doesnt seem like I can get to the level of some of these peoples works in a reasonable amount of time... Though the story of the 12 year old who made those whales is inspiring to say the least.

Reselling is just a little side thing so far. Im still hoping I can snatch a Secret Rare on the next drop.

 

[Nikolaos]

So a guy I know has a son doing NFT tradeable cards. I saw this on the news before and was instantly curious. I had him call his son and he recommended VeVe App. I downloaded and spent $285 or so on gems to buy draws for Marvel cards before they sold out. I drew 3 Ultra rares and a bunch of others, checked the value on the market shortly before the draws all sold out and Im already at $650 in gems. Since it just sold out and people will be possibly scrambling to get the scarce cards in a while with no more draws, Im wondering how much these will go up in a week?

50%? 2X? 3X?

I think I was just lucky. But I imagine if I sit on these as this craze grows it could very well increase the value of what Im standing on. How long should I wait before dumping these, I was thinking like a week? Though the kid on the phone did "research" before passing on minimal info to me and he suggested keeping they 2-3 years. I got a couple YT channel suggestions out of the talk too.

Other than the Ultra rares and a couple rares out of the Fantastic Four series, I managed to make a couple sets. I also got one card that was like FA#20000.....Im having trouble thinking of a price for this odd number.

Im seeing this stuff explode. I hear theres games that deal with NFTs too. Theres a lot of info flying around, but would you say there is any good in reselling stuff from the marketplace too?

To address any negativity, I realize somethings are trends. Ive seen Beanie Babies, Furbies and all that crap trend wayyy back when people bought them for me a child.

Looking for any input on this before another Marvel set drops....

Nfts are the new craze. Cash out while you can.

 

[k2h2]

I had one loss in nft and from then I have become careful.

 

[filiab]

You can wait for their MTL or you can sell your gems for about .80 (so 20% loss)

 

[wizeman]

You can wait for their MTL or you can sell your gems for about .80 (so 20% loss)

how can you sell them?

 

[FistFullOfCash]

I wouldnt risk selling to individuals. Use a platform like eBay that allows NFTs. Not sure on the gems, but characters are ok for sure.