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Flipping NFTs For Profit
By Ruchi Sharma
Non Fungible Tokens (NFT) disrupted the digital space in 2021 with huge sales numbers. The NFT party is still very much on, and we are seeing users flipping artworks for thousands of dollars. Let’s delve right into it and understand the concept of flipping NFTs.
What is flipping
Flipping is a broad term for buying items at low prices and quickly selling them for a profit. It’s been around since the days of profitably flipping trading cards, toys, and comic books, and we’re now seeing a massive surge in the NFT space.
Why flip NFTs
You can only flip valuable things, and NFTs have proven to be valuable, attracting a wide range of investors. Aside from holding Bitcoin and Altcoins for the long term or creating and collecting tokenized art, you may want to invest in high-volume NFT projects for faster returns. Although risky, flipping NFTs is a quick way to increase your portfolio.
How to find the best NFTs to flip?
Number of NFT tokens:In traditional investment, supply is a critical factor that can determine value. NFTs are no exception. As a result, the number of tokens minted is the first thing to look for when looking for the best NFTs to flip.
After all, if you buy an NFT with a large supply, it may be difficult to sell it for a profit. This is one of the many reasons we like the Lucky Block collection, not the least of which is that only 10,000 NFTs will ever be produced.
Theme: Another factor to consider when determining how to find NFTs to flip is the collection’s theme.
Because of the success of its Bored Ape Yacht Club counterpart, the Lazy Ape Society NFT collection is likely to appeal to prospective investors.
Utility: A major flaw shared by many of the NFTs we encountered is the lack of utility that comes with ownership. This will have a direct impact on the NFT in question’s future value.
In comparison, the Battle Infinity NFTs include a comprehensive set of use cases. The exciting IBAT Premier League feature is at the forefront of this.
Floor Price: Regardless of the flipping opportunities provided by an NFT, you will be unable to profit if you are unable to cover the cost of the collection’s floor price.
As an example, Bored Ape Yacht Club NFTs sell for six figures, which is out of most people’s budgets. On the other end of the spectrum, Battle Infinity NFTs and Lucky Block NFTs can be purchased for much less.
Volume: It is also worthwhile to investigate how much trading volume your chosen NFT series has accumulated since its inception.
Many NFT marketplaces provide access to this information, which can provide you with an idea of how much interest there is in the collection.
How to flip NFTs
The process of flipping NFTs is straightforward. You’ll need a Web3 wallet, such as Metamask or Trust Wallet. After funding your account, you can use the in-app browser to access various NFT platforms. AirNFTs is an excellent place to begin your flipping journey. Thanks to our ever-growing and active community, you can buy NFTs for ridiculously low gas fees and make a significant fortune from them.
When it comes to selling, knowing when to sell as a flipper is critical. While that decision is entirely yours, it is critical to monitor the project’s volume and recognition while moving on to other projects.
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