Playing the Market?
I have made it no secret that I have been pretty heavily invested in the NFT space in the past six months or so. Specifically, I have been focusing on the WAX side of things. WAX is pretty much a chain that was built solely for NFT's and they are doing a killer job over there.
As I mentioned in a previous post, one of the main projects that I have been focusing on is Alien Worlds. It has been pretty lucrative for me so far and I am really happy with how my investment has turned out.
One of the things I love about WAX is you don't have to deal with all of the gas fees like you do over on ETH.
Anyway, with the current listing of the in-game token TLM on Binance, things have really started to pop off.
In game NFT mining tools have skyrocketed on the secondary market. People are selling common tools for hundreds of dollars in some cases. It is pretty nuts.
One of the biggest things I have found myself struggling with is timing the market correctly. I guess that is probably the case with a lot of markets and it is the reason why there is so much analysis out there about the whole thing.
My biggest issue is how much the price of WAX can fluctuate. You have to be really careful that you don't put something out for a decent price only to have WAX fall in value and then someone comes in and snipes the item for a really great deal.
It is almost like you need to set a price point higher than you normally would and hope the market comes to you. If that makes any sense.
There are probably a lot of technical terms for these concepts that I am talking about. To many of you they are probably simple as well, but to me, they have been absolutely confounding.
Luckily, I just discovered that you can set the price of items as the amount in USD that you want and then it will adjust the price in WAX accordingly based on the current market price of WAX. How did I not know about this before? It has been a huge help!
Atomic Hub is a pretty cool place to buy and sell items on the secondary market, so I am really glad that I learned about this little tip to make my time on there even more enjoyable.
That's all I've got for today. Have a great one!
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Investing in projects like this is very good
But the only thing that made me anxious is price fluctuating as you said
You only need the price to go up but this is not always happen
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Yeah, I like that now I can peg it to a certain dollar amount. That really helps me feel better about going to bed and night and not finding I got screwed over when I wake up in the morning!
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Great! Actually sometimes fluctuating price is what you're after.
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Yeah, I just don't know how to time things right. I definitely think I shouldn't quit my day job!
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Oh I didn't realize you could set it in USD but yea the volatility kind of sucks. You never really know what will happen given the situation.
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Yeah, the USD thing just saved my butt for sure! Love it!
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Aside from buying TLM on Binance I have no experience with NFTs or blockchain games. It's an industry that has just started growing though. One step further for the tokenization of everything.
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It is definitely going to be here to stay for the right projects. Alien Worlds has been very good to me. I can't guarantee TLM will hold forever, but I think we should be able to get a good six months out of it. If I am wrong about that, even better!
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I hear you are making some sweet sales. I really don't get why people will pay so much for virtual game items. Good for you if you can cash in. Enjoy.
Yeah, I am having a pretty good day today :)
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