How to Flipping Nfts on Solana
How to Flip Non-Fungible Tokens on Solana, OpenSea, and VeVe
Flipping Nfts on Solana, You may make money by flipping NFTs on Solana, OpenSea, and VeVe. However, you’ll make more money on Solana than you will on OpenSea if you flip NFTs.
Because most of the NFTs exchanged on OpenSea are on the Ethereum blockchain, this is the case. This means that when you trade NFTs on OpenSea, you’ll almost always wind up paying exorbitant gas fees.
We don’t have to worry about prices as much on Solana. Because you don’t necessarily have to include gas expenses in your costs on Solana, you’ll make a higher profit. On Solana, the difference in price between what we paid and what we sold for is pure profit.
When we switch NFTs, we only have to pay a modest commission, which is affordable. I’ll explain what I look for while flipping NFTs on Solana in this article.
What should look out for when flipping NFTs on Solana?
The first thing you should look for is a selection that is appropriate for your budget. For example, if you want to spend $160 (about 1 Solana), you can look for collections that fall within that price range.
So you will also be looking for collections with a Solana rating of 2 or 3.
First, go to the Solana platform and click Stats. This will provide you with information about various collections.
The Bold Badger Squad, Frakt, and the Grim Syndicate are all within my pricing range. They’re all around 2 Solana. That works out to $320.
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That’s an example of what you’ll see on Solana when flipping NFTs. None of these compilations come highly recommended by me.
Before purchasing a collection on Solana, you should always conduct your own research.
I search for two positive columns when I see a collection that interests me. The average price is shown in the first column.
I double-check that the average price has risen over the last full day. For the past 24 hours, the volume should have been growing.
Purchase projects from frequently traded collections
In an ideal world, I’d like to buy into a collection where NFTs are swapped every few minutes. I glance at market capitalization when swapping NFTs on Solana.
I’m looking for collections with at least a $1,000,000 market cap. I’ll divide them into five columns.
All three of my criteria for average price, increasing volume, and market cap are met by these five.
Following that, I’d like to see how many individuals are interested in purchasing and trading these collections.
Related: What are NFTs & How to Buy NFTs
So I’ll have a look at social media. For all of these collections, I’ll look at the Twitter pages.
7,000 people follow the Grim Syndicate. Even better, Frakt now has 29,200 followers. With 36,900 followers,
The Bold Badger Squad is the most popular. You can find purchasers from within a social media community if you invest in a collection that has a significant number of followers.
It’s a good idea to look for art with a specific aesthetic or brand while flipping NFTs on Solana. You may not like that style, but it may be quite appealing to other purchasers.
Frakt, for example, uses fractals and arithmetic to create 1,000 pieces of generative art on the blockchain. I’m not a big fan of this kind of art, but it’s incredibly popular.
The Bold Badger Squad is a generative art piece as well. As a result, each NFT in this collection has an identical body but a separate set of characteristics.
The backgrounds, for example, are distinct. Sunglasses and smokes, for example, are two different types of wearables.
On Solana, you may find low-cost projects.
Now, I’d like you to take note of the fact that the Bold Badger Squad’s cheapest option starts at $1.99.
However, the prices skyrocket from there. NFTs that are five or six times that price, for example, can be found in the collection.
On Solana, the approach for flipping NFTs is to acquire the cheapest ones at a low price and then sell them at a higher price to earn a profit.
On OpenSea, this is a common technique. Because we don’t have to pay any petrol fees on Solana, it’s simple to earn this way.
Flipping NFTs On Solana and OpenSea
Another way to earn from NFTs is to employ a different method. Purchase NFTs as soon as they are available.
For example, during the pre-sale of the High Monkeys collection, you were able to purchase NFTs from the collection at a discounted price.
Keep track of the minting date at all times. You may be able to acquire information about the minting date by subscribing to the project’s newsletter.
Examine the Project’s Audience Size
You can also benefit by flipping NFTs on Solana, as I explained before in this article. In addition to avoiding gas fees, flipping NFTs on Solana benefits you because I believe Solana, like Bitcoin, is primed to appreciate in value.
On Solanaart.io’s main page, you’ll find a list of forthcoming projects. You can also check how many people are following these projects on social media sites like Twitter.