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In this #NFT analysis thread, I'm going to share what I've learned by going to about ~$1 million* in #NFTs after starting 3 weeks ago with ~30 ETH.
I see a lot of beginners getting rekt and while I'm new to NFTs I'm not new to markets.
Let's begin 👇🧵
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I see a lot of beginners getting rekt and while I'm new to NFTs I'm not new to markets.
Let's begin 👇🧵
1/11
First, let's cover the overall market itself, OpenSea had a total of $325M in trading volume in July. On August 29th with the launch of #MYAC there was total trading volume of $322M so almost the entire month of July!
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Source: dune.xyz/rchen8/opensea
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Source: dune.xyz/rchen8/opensea
So many projects are getting latecomers buying in during peak FOMO. For example, #0N1Force peaked at 3424 sales on August 21st and on August 31st had just 79 sales.
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