My guide to profiting on WAX/HIVE NFTs.
In a little over 5 months I have made just under $2,000 profit on the NFT market, this is in a down crypto market no less. NFTs are unique in that the markets are more or less unaffected by the crypto market. EOSIO variants like HIVE an WAX or just EOS are more or less independent markets outside of ETH. Binance is currently smart contract working around ETHs volatility and Gas Fees Effectively making Binance Smart Contract integration Into EOS based projects Better then the ETH NFT market could ever hope to be. Polygon and other systems like that may finally make ETH viable again for NFTs.
Though ETH may become Viable Again It may be to late, The name of the game now Is environmentally friendly & ease of use. This Is why I feel these smaller upstart blockchain NFT assets are a better bet.
Before I get to far into this subject I minor clarification is in order
Disclaimer: The contents on this Guide are for informational and entertainment purposes only and does not constitute financial, accounting, or legal advice. ... By using any tips described you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found in this write up.
Now that the formalities are done with here's some proof to my claims of how much I made selling NFTs.
Here is one of my larger sales I dont make this my focus but its nice when larger stock moves dont hold your breath.
Not $2,000 but still $1,700 profit so far aint bad, However its not just what I have sold I have to show for my effort I also have a rather large diverse volume of NFTs around 1,000 Verified NFTs.
So I have profited $1,700 & I have around $2,000 worth of NFTs to sell this is on a little less then $500 put into this project gradually. Making the potential profit $3,200 the current profit - costs $1,200 that's if all the NFTs just devalue or disappear.
I'm not wealthy I dig holes for a living & hopefully not forever, Did all this gradually using Hive to set the ground work over the course of a year. I then combined my Hive & WAX accounts Via Splinterlands.
My method of profiting on NFTs can be used even if your broke ( I get it ) Its rather finite for now only going so far to use Hive Engine & Hive NFT Markets such as monster market & WAX markets such as atomic.
So Ill show you how I went from Starting fresh on Hive to flipping $50-$100 a day of NFTs on WAX in a year.
I like many others got into all this looking to make a little cash paying games, I really didn't want to spend a dime. Hive helped me out in this regard My posts paying for the $10 spell book on Splinterlands ( which is required to transfer or sell NFTs or DEC).
However its free to play & daily challenges and rewarded DEC for playing ranked matches are something its not much. So a combination approach of combining in game winnings with Hive resources via.
Rising Star requires No money just get to level 20 & you get to keep all the free crypto and NFTs earned & sell them once you hit 20 or keep playing.
The trick is to keep at these games and take out as little as possible both Splinterlands and risingstar pay out more crypto based on the amount of assets held by your account combined with progression in either the season in Splinterlands or the campaign in RisingStar.
This is my rising star account I have progressed to the second city down to the 5th mission in this area. This acoustic tent mission requires 1000 Fans & pays 500 Starbits upon completion.
The level of fans is determined by the number of character NFTs in my account & their respective rarity & fan volume specified on each.
No just the NFT equipped but all applicable NFTs you have in your inventory
Meaning with my 30 NFTs my base fan level is over 1,000 at start, so I can log in and instantly start the High difficulty missions that pay more.
Compare the 500 Starbits made from the acoustic tent mission to the first missions pay out less then 10 starbits 10,000 Starbits are worth about $1.50 USD or a pack of 3 Rising star NFTs.
I'm currently trying to sell some of my more expensive cards so my current power cap ( determined by your Splinterlands NFTs) is 75,540 Enough to get me to Silver Rank 1 which gets me 18 chests at the end of the season.
This power level also affects how much DEC is earned through ranked match victories. A daily challenge requires 5 victories, Playing about 5-10 matches a day has its benefits but once I started combining playing daily with the quest potions. I turned my 1-2 Reward chests a day into 5-9 Chests a day, A Quest potion costs 750 DEC about $0.75 USD.
Once you can afford to do so start getting packs In Splinterlands particularly as you have the option of buying them on the secondary market. I have got to mention here this is all about odds you may just get a foul run of luck.
But based on my experience on the 500 + packs I opened & resold using 5 legendary potions and 5 alchemy potions on each pack. DEC just has a better win loss ratio given the number of possible cards in the collection Dice pack are
22 total currently of which 7 are legendary.
Even the rare cards in this collection are worth much more then the Untamed packs Rare cards the odds get increasingly favorable when you use the two potions simultaneously on Dice packs
5 of each type of potion $0.50 USD if you buy your Dice packs from here they are always $0.50 off their $3 price from the in game market.
This means the total cost for all 10 potions which increase the odds of getting profitable cards and the pack costs you $3. The same price s the pack from the in game market.
The only drawback is the purchase doesn't qualify you to get an airdrop possibly (But to be honest the odd's are negligible unless you buy $1,000 or more).
Moving to other markets
What's a big fish to do in a small pond, once you feel your out of Hives price range with your NFTs your looking to sell you find a separate but connected market.
For now this is WAX which I connect through my splinterlands account making it simpler then getting the crypto sent through exchanges. The exchange method has fees involved where as the transfer NFTs to your WAX account is free from your Splinterlands account and can even be done with Rising star NFTs through their discord.
Effectively merging your Hive resources Through your NFT assets for both games.
Since WAX is ease of use oriented the market prices are somewhat isolated between Hive engine and WAX. Since WAX is a flux price and pack prices flux as dose Hive itself Bouncing between these two markets with respective highs and lows can be quite profitable in and of itself.
Say I have $20 on Hive and I want it to my WAX account I make sure my WAX account has WAX staked for CPU usage to post a transaction. Then just send the $20 in the form of a more or less stable asset a land plot or Beta or orb Pack from Splinterlands works nicely. Minimal chance for a financial loss ( hell if you wait for the right market price it can even be profitable) So just sending money from one to the other Via NFT resale can be profitable.
To transfer splinterlands assets From hive to WAX
First you have to link the WAX wallet address by clicking link external wallet on splinterlands in game menu as shown above.
To get your WAX wallet address log into Wax cloud wallet
located at the top right of the image shown above is My WAX address
Packs are a little different to send then cards from the Game to WAX So ill show the cards first. After your WAX account is linked to your splinterlands account to send a card click the respective card bringing you to this screen.
Click on the asset you wish to send then you click the send arrow as if transferring it to another player.
select WAX then send
Now packs relatively straight forward just like converting it to a hive engine token but in this instance its a WAX token instead.
clicking convert in game on the open menu for packs on the respective pack will bring up this or a similar window depending upon which pack.
Select WAX then click tokenize
Now your on WAX with your splinterlands asset to get it back to your game account use atomic hubs splinterlands WAX page link below.
The splinterlands wax page on atomic hud has its own tools tab located at the top of the page as shown in the image above.
Bringing you to this page select deposit to game then select the desired asset & follow directed prompts.
To sell your NFTs have about $5 USD staked to CPU this will allow for the system resources for pack opening, burning/blending NFTs, Games, and selling you NFTs given WAXs rise in popularity its just prudent to stake WAX for your own system resources. The publicly available pool is short lived now a days.
Rising star has a separate WAX and hive collections meaning two different assets for both blockchains the transactions for now can be handled through their discord. Its a pain in the butt however if your willing to put up with the discord workaround the upmark on rising star NFTs on WAX is astonishing.
Now you can flip all your hard earned hive via splinterlands and WAX.
Naturally I try to keep the two balanced but as Time went on I found this to be difficult Now I focus the majority of my free time into purchasing then selling WAX NFTs in much the same way however its a longer wait for returns on WAX some collections will flounder for months then suddenly something worthless is now priceless.
This is strictly reserved for verified whitelisted projects nothing that started on nefty blocks preferably.
I look at the collections listed on Wax cloud wallet Dapps list, Atomic hub partners with their own page, & any collection supporting blend use cases through their own web site.
Take Robotech for instance started off great high prices but once the market is board with the burn use case the market loses interest. As would I originally but I started noticing about a month after I and everyone else writes off a collection either Wax or the company steps in with a new burn use case or staking through Rplanet.
Just made $200 yesterday on Bud Farm doing this exact thing, Robotech is not the most well known franchise but Nintendo, DC Comics, Sony have all worked on the Robotech IP at one time or another. Nintendo even has a Robotech Game scheduled for later this year.
Almost needless to say they are letting it sit collecting transactional info on the market volume from day to day ect. They know going into this there will be a drop off in interest in about a months time once the market has slowed to a crawl. They make it the hot collection again by furthering the burn use case new staking or reward features ECT.
The core reason behind this I believe is to inhibit artificial inflation of prices through intentional scarcity. IE you wont want to horde something that appears to be depreciating their fear of expediential loss lets theses collections play out more honestly.
Knowing this is a tactic with a combined knowledge of the large company that owns the Robotech collection a new product launching in a few months with the same IP Robotech (the DS game I mentioned). I'm willing to bet the low price their NFTs are currently selling for wont stay that way for long.
Might take 3 months but this collection will pull up from a nose dive, So when I see a big collection crashing in price I wait for the market to level off at a low price average. For the Robotech base card anything around 3 WAX $0.45 USD a piece, Hold a few of each type if I get a surplus of one I burn them.
spending around 25 WAX on cheap Robotech NFTs and combing my extras over the last 3 days or so I generated the $200 Gold NFT above and the silver NFT below.
Not that every NFT from the burn use case is all that valuable, however the cheaper each attempt the more times you can try given that bronze gives you some of your WAX back about half 3 out of 6 WAX spent the probability of taking a total loss trying this are 60% with only a 0.25% chance of generating a Gold NFT (the rarest) A 5 % chance of generating a silver NFT and 35% chance of generating bronze.
Since the loss ratio is over 60% I dont make a habit of using their burn use case but the base cards will eventually have a resurgence in demand. Might take months but if your patient and diligent the right opportunities present themselves frequently.
Weather its a collection being sold well short of its value like bud farm or the project to the market appears dead in the water Like Robotech.
Mailing lists and their respective discord, twitter or other social media also yield useful info letting you get a drop on the market like bud farm I check their site to look at the burn use case. Did that bought the NFTs needed to produce the NFTs Mystery packs and munchies packs & over the last 2 days sold $260 Worth of bud farm NFTs most of which I bought for cheap.
Sensing market irregularity
There are a couple of types of indicators I look for in a collection If its something rather abruptly introduced sprang on the market more or less. Looking for immediate staking plans in the collections road map like a TBA spoiler type announcement with launch.
This with any form of NFT-FI (NFT DeFi), If there is a burn use case at the end of that list its a trifecta usually spells a win what kind of win is determined by one curtail factor. Supply & demand quite frankly if you get it direct from the company's drop chances are you will have to hold on to that investment a while.
If it sells out quicker then you can hit the button and can buy it without doubling the price thats a solid short term investment.
Given there are 4 million + WAX wallet users the fact this verified collection went on sale with the cheapest pack being $20 with only 2,500 being made available.
Sold out in seconds then the market panicked because you couldn't immediately open this new collection. I got my first resale pack from the Void Elementals - Standard Pack edition for $25 & $28 a piece.
This void elementals collection passed 4 out of 4 of my Collection standards outlined above. Void Elementals Though unheard of by me until 30 minutes before the sale was a sure thing to me.
at worst I panic sell and lose $5-$10, at best I could triple my money
Curiosity killed the cat its also something we as humans are hard wired to go with the possibility of the contents being so tempting. You have to remember your price point though if you open this pack with less then 3,000 sold the contents are not as valuable as a (what if) an unopened pack in most instances.
Say I opened this pack containing 5 of the cheaper NFTs shown above from the collection I just turned a $25 dollar investment into a $10 deficit (No good).
I always tend to check collection size & let the market play with a collection like this for a while. Enough time to get a feel for probability of the pack opening being at or above value of investment with something expensive with a burn incentive like this its best to be cautious.
So on my $50 Investment Ideally it pays out $150 but I'm conservative with my price estimate overshooting can make it likely the market tires with the collection before you sell your NFT a secondary use case though out lined on their site could take months.
About 23 minutes after the Packs where able to be opened I got my investment back and still have a Pack to open or sell. To determine which I casually watch the price point & this time set a $70 Price point watch the amount being sold in the coming hours if it slows before it hits $70 I normally will leave it over night.
If it has started to decrease in the value of the last packs sold I undercut quick as to not get stuck with it however even if I do get stuck with the pack its still only about the cost of $4.
Given the fact I'm playing with larger sums here I played it safe sols the second t $49 - the market fee I profited like $30 plus recouped my original investment on a hunch. Have I been wrong before yeah like 2 times a week I drop the ball on buying or selling the wrong Item.
The trick is to set boundaries with your WAX earned vs the amount invested In the NFT some weeks I hit my self imposed limit and step away from buying anything until back on track. Every 2 weeks I lie to be taking in around at least 1,000 WAX about $150 USD If I'm short of that goal I focus on moving the stock I have already accumulated and profit on Hive and WAX price flux on shared assets.
Playing Blockchain Games like rising star every time I feel the need to buy more stock just revert to playing the free games if I absolutely cant leave the market alone.
Focus on profiting slowly but surely when the market slows down you cant make the market do what you want you have to anticipate its movements before it as time to.
Its not going to be permanent and always be wary I have a firm threshold of how much $$$ I keep in one blockchain or project. No more then $700 & that is pushing it anyone that seen Bitcoin at $2,000 or less knows there is a risk involved in any investment or project.
I try to switch to a combo of Stable coins & precious metals to through uphold, That and I have a habit of Buying used construction equipment in good shape.
Mostly just power tools stuff I could even just sell to other construction workers crews.
Everything has value if a market determines its useful or just in demand. NFTs have no shipping and its a fun craze but at the end of the day is a pokemon card a sound investment (no).
There is quite an inherit risk with this type of investment so I look at my investments in the market in a matter of days in months at most where as crypto or stocks even precious metals are more in the order of months to years.
Green is the key
Most projects I tend to focus on are done in a blockchain system that has less of a negative environmental impact. This is Why WAX & most DPoS crypto networks with NFTs are my focus, these types of projects are inherently more sustainable.
Since NFTs are a consumer driven market public opinion is everything, Many of the ETH derived NFT markets are much worse for the environment and as such have to tout their price points to make it appear as if they are the better method of NFT production and resale.
WAX posted another Medium article the other day specifying exactly how little energy their market utilizes compared to their competitors. Here's a direct Quote from their article:
"When put into perspective, this amount of electricity has a carbon footprint of about 111 tons per year (1 kilowatt = 0.92 pounds of CO2 footprint). Also, the average person in the US has a carbon footprint of 20 tunns per year, so the entire WAX blockchain has the same carbon footprint as a mere 5.5 individual Americans per year. Our nearest competitor’s energy output is equal to the entire country of Ireland!
Now projects coming to WAX recognize this strength, Yoshi Drops is a NFT project launched recently featuring music NFTs. With Every resale of any Yoshi drop NFTs proceeds made by the company go to fund more green projects. Making it a carbon offsetting project.
Regardless of where you stand on environmental conservation You have to recognize the promise of projects such as this.
Hive users have an advantage
As I touched on previously those that use Hive have access to secondary NFT markets. Not only that but since most WAX projects are ease of use focused the dificulty level in typical hive transactions give Hive users a distinct advantage in more ways then one.
This new NFT mass adoption is driven by fans gamers and a user base that has much less information then your average crypto users. Information such as how an exchange works my preferred for WAX by the way is...
As for staking you can stake WAX through their preset system on WAX cloud wallet. The WAX cloud wallet also has a Defi system over ETH and a ETH bridge because there are three types of WAX WAXP is the standardized asset based of EOSIO. WAXE is the original ERC20 of WAX utilizing their defi system generates WAXG the reward paid out to those using the WAXE defi also an ERC20. However both are ETH assets and come with ETH transactional GAS fees.
When I stake WAXP the EOSIO version I utilize the blocks.io page to do so it has more control over staking.
You can stake WAX NFTs on two sites thus far, rplanet and collect social collect social requires users to register ownership of a specified collection and then just leaving it in your WAX web wallet will facilitate a drip system of their RACOON coins.
Rplanet is typical form of staking letting a company in this case hodl your assets for a staking reward in AETHER paid out hourly Staking and unstaking of NFTs through Rplanet is instant.
All of the WAX alt coins can be exchanged for WAX or EOS using alcor.
You can even set liquidity pools of WAX assets there
These are features crypto users are versed in where as the new NFT mass adoption consumers simply are not.
That minor technical skill set gives you an extraordinary advantage over the general public. Now with Binance BSC integration becoming more and more common on WAX NFT projects like alien worlds splinterlands and KOGs. This is yet another aspect of the WAX market average users will be blind to giving you an other advantage.
The length of this article is already immense as I have been working on it in my spare time over the last week so if it seems disjointed that's why. So to benefit users like myself without an 1/2 hour to kill reading this in one sitting, Here's a concise list of useful connected Dapps.
Those are the two Hive games that are connected to WAX markets with their NFTs & have made me the most money. While I still play the other Hive games they are less profitable in my opinion.
Fairly close to free because you will likely need to stake WAX for CPU, however the CPU of WAX systems do have a public pool which is free so depending upon the number of users on WAX at the time you may get lucky.
Though still in beta they do allow you to apply to be a beta tester for the KOGS mobile game. The KOGs Mobile game rewards include in game credits which can purchase WAX KOG NFTs.
A 3d Blockchain Game with Rpg elements in an online matchmaking style death match.
A card NFT game fairly hard to get to work but also generates daily NFT rewards to its players.
Have not profited from either of those but it is possible i just dont have the time to play.
WAX rewarding to top players of their competitions
EOS game connected to atomic NFT market
Hey! I've been playing some awesome games and getting crypto from it. Come play and earn with me on Womplay — I'm sure you'll love it!
Now womplay has EOS rewards paid out to players every Friday and now NFT rewards which can be sold on the EOS version of atomic hub.
WAX markets and staking
The WAX NFT market with the highest sale volume
My second favorite WAX NFT market
NFT hive makes keeping track of my account easy and you have several features here that atomic lacks like bulk selling and staking to Rplanet.
Last but certainly not least Neftyblocks lets new content creators set up packs and blend use cases on their collection without having to manually integrate the smartcontract system to your NFT collection.
Keep track of small up and coming cheap WAX collections with Neftyblocks I recommend utilizing their systems to get a feel for some of the more technical aspects to WAX NFT packs & blend use cases.
WAX NFT staking
Rplanet is the best Dapp for WAX NFT staking, to many bread crumb trails lead here, with not enough answers as to why. Like alien worlds Rplanets collection consistently has the highest sale volume, unlike Alien worlds they have no secondary blockchain interaction. However their road map has this listed for the next step.
My guess based on what has been happening as of late the big secret I believe has something to do with binance BSC integration. Just a hunch
Collect social requires sets of NFTs to be registered however then they just have a drip system gradually paying out crypto
Hopefully some of this info will be helpful the NFT mass adoption has just begun, This WAX market has all the necessary features and companies interested in minting their IP. Its not to far off from this being the go to NFT market & since WAX can occasionally play nice with Hive collections. Hive users stand a good chance of benefiting one the NFT market Takes off the second time.
WAX will have a second wind and a third fairly soon not saying that the price wont fall below $0.15 USD in the mean time. What I am saying is i have enough info on the projects coming to WAX for me to feel safe keeping some assets in this market.
Five nights at Freddy's a horror survival game with a huge following is on WAXs project list launched a month ago. This and two major game companies have started either expressing interest in WAX or are currently rumored to be working on esports projects.
Five nights at freddys alone will make the Base ball card million users in a week mass adoption look small by comparison.
Now is the time to mess with WAX its Dapps & observe the market, it took me a month of this before i was confident enough to start investing like i do.
Though it sounds dumb just watching this market gives you info that Google simply cant. Information when used correctly is powerful & or dangerous depending upon the situation.
What I'm smoking
Well given that I wrote this over the course of a week that's close to an OZ of different strains + hash Dabs edibles. I build houses and repair/remodle buildings in michigan. Our crew while small is in high demand due to our skillset in masonry & flatwork. The whole work crew smokes pot & or drinks beer while at work.
Only person not smoking pot is the boss also are driver, he only stopped smoking because he has got to drop for probation.
Worked for and with the police on jobs while high as hell, one of which was SWET South West Michigan Enforcement Task force. The local drug enforcement task force the same people that have kicked in most of our doors and shot my friends dog i had to put out of its misery.
Its odd who you can actually get along with when situations change once an enemy now fairly chill actually because he had retired.
Tell a stoner you worked with cops they assume your a snitch, (not the case) never break the golden rule.
Now that my paranoid ramblings are over what I'm actually smoking today as I work on this section is the strain known as weeding cake.
The dispensary has not signed off on me utilizing their brand but its the same dispensary I have done weed unboxings of before.
old photos because i wanted to get this post uploaded by today, didnt have time for the usual photography.
Happy to say that this Cannabis was bought by flipping Bud Farm NFTs
Flipping NFTs isn't exactly enough to live on but its a fairly nice supplemental income.
Bought real weed selling digital weed I can die happy
Calm before the storm
I wrote all of this not just for upvotes though upvotes and reblogs are appreciated the money goes to your airdrops. I wrote this to benefit anyone that reads my posts for insight into the NFT market. This post contains the bulk of my knowledge how I got to the point where I have sold over $5,000 in NFTs.
Splinterlands just sold over 70,000 packs in less then a week there are but 124,000 untamed splinterlands packs remaining. Get them while the getting is good this is just the beginning its not something I can necessarily guarantee call it a instinct after doing this a while you can feel when the markets acting weird & its definitely not business as usual.
Honestly absolute silence from major blockchain games and markets is more telling then announcements.
Free NFT 1 time airdrop URL
I try to include a single claim airdrop URL for WAX wallet users containing free NFTs, It may only be claimed by the first lucky person to click the link. After claimed once the URL will no longer be active. The lucky reader should receive 5 NFTs if you received less then 5 check your whitelist settings. Includes some featured NFTs from todays write up.
Please note the WAX network has been acting weird so the Airdrop may give you an error message if this occurs please try again shortly sorry for the inconvenience. Once claimed please let other know in the comments it helps.
Perhaps your interested in purchasing any of my NFTs from my ever expanding collection you may do so here.
My stock constantly rotates so it changes daily
Dont look at this post as if it where fact just compiling what I have learned thus far, as it has been very lucrative for me to invest in WAX and some Hive NFTs. Ill try to answer any questions that I feel I can but I'm not trained to do any of this just a construction worker flipping NFTs.
Womplay referral proceeds are 25% of wombucks redeemable for EOS earned by playing their on site games or downloadable games they even give out treasure chests with wombucks daily & potentially NFTs soon . The Upland project is also affiliated with both atomic market and womplay if you haven't signed up for upland it would be a second game earning crypto on a service paying you crypto to play he game that pays users crypto win win.
Any proceeds made will be rolled back into future airdrops please consider checking them out.
I dont usually ask for this but please share this post with any hive community or anyone you believe would benefit from info like this.