How I Turned 600$ From Top Shot Into 35000$ NFT
Hello! Intriguing title isn’t it? Originally this blog was called “How I Bought 35000$ NFT with 600$”, but this story is real and as any real story you can’t quite predict what’s gonna happen, even tho I knew I’m gonna write about this at some point.
Why I didn’t write about it earlier, well first, I don’t even tweet and write about NFTs much, Top Shot is my niche, something I love and always has fun with! (Also, the only thing I wanna influence is people to be themselves. I don’t even tweet “underrated TS moments” anymore much, pic below) Second, it’s fun to have secrets, there’s only one person that I shared this with while I was doing it, I let you know who it was later in the article.
I’m gonna try it to keep it short. But let’s start from that first part of the blog’s name, 600$ from Top Shot. At the time I didn’t even have much in my Dapper balance usually, the reason 600$ was there is Top Shot legendary finals pack. I missed out on it and decided it’s time.
Now let’s rewind a bit, why August of 2021 was the time? I grew up in a poor family, we used to move apartments all the time just because we didn’t have money to pay the rent. When I finally started making money in my late teens, I was super careful about how I spent it.
After joining Top Shot in February of 2021, that was the only NFT I was collecting/trading. When the NFT boom really started to happen in May 2021, I was super cautious and wasn’t quite ready for it. In the next couple of months when so many people got into it, I was doing nothing except Top Shot, well not quite nothing, I was watching and doing my own research.
One of the most interesting things I found is a collab between two amazing projects, Cool Cats (my favorite non-TS project at the time) x Ghxsts. First, I just loved it, two greats and I loved the art. Things got really interesting when I started to research transactions on it.
What I noticed is that the same NFT have sales of 0.06 and 0.1 on the same day. I started tracking it. What I learned quickly is that people who buy it for 0.1 buy it with the “buy now” option, while people who buy it for 0.06, well they are using the “make an offer” option.
Why tho? Why are some people selling NFT that’s worth 0.1 for 0.06? You gotta ask them, but the most likely answer is liquidity. At the time volume of sales was insane and not just that but there were like 10 new projects every day that people were trying to mint, not me.
I focused on this, my own strategy that no one else was doing. Buying -1 Cxxl Cxt with the offer and then selling it for a full price. Almost zero risk with consistent even tho small return. Unless you do it like 100 times, which I did, maybe even more.
I basically became something of a scientist myself, sorry I mean liquidity provider. I made 5000$ in 4 weeks by trading the same NFT, over and over again. Buying sometimes as low as 0.05 and selling it sometimes as high as 0.28 (Balance close to that time below).
After the volume became low I couldn’t quite do it at the same rate. More Cool Cats collabs came out and also people started shifting their strategy from minting everything to focusing on more quality projects (which I was really happy about).
In October, I found out about the project named DoodlesDAO, now known simply as Doodles. I fell in love instantly, the same way I did with Cool Cats. Unfortunately, I missed out on the whitelist for this project, which didn’t stop me one bit. I didn’t wanna commit the same mistake by not investing in the project that I truly like and believe in, the way I did in July with Cool Cats.
Very shortly after the Doodles drop, I used some of the profits I made from Cool Cats x Ghxsts collab to buy a Doodle, the same one you may see as my profile picture on Twitter. 0.95 at the time, I paid a little higher than the floor to get the one I really like ascetically. Doodles floor at the time I’m writing this is 11 ETH, which is over 35000$ (floor Doodle at the moment in the picture below).
So this is the story, some of you might call me smart, some of you might think it’s a scheme, some of you might think I got lucky. I wanted to share this cause I see a lot of people, especially like me, who coming from the Top Shot world and can’t quite get into NFTs, you can!
Sharing this not for you to copy the things I did but maybe the way I did it. Do your own research, collect/trade what you love and build your own strategy! In a way, I don’t have 35000$, cause I don’t plan to sell my Doodle. Cause I do love it and believe in the project long term. I could’ve used Cool Cats collab flipping profits to buy any project, I waited and found the one that I love, I’ve spent 0.95 and never regretted it since.
Wanna give a special shoutout to a very special person. Jennifer Sutto. As I mentioned, she was the only person I shared this with while I was doing it. And will forever stay the only person. Even tho sometimes she leaks the secrets I tell to her on her sister’s stream, cough cough Ros.
One of the biggest reasons I’m thankful to her is that in those couple of months when I was just watching and doing research, I was talking with a lot of people, learning, and she was the only person that kept being patient and encouraging with me while some other folks didn’t take me seriously and even joked like “Alex, you never buy anything”. Thanks Jen!
What about that Cool Cats collab? I still own it and love it, even if I don’t flip it much anymore. My #1 goal when I got into NFT space was to buy the real Cool Cat, I still didn’t do it but now I have the funds to do it besides my Doodle, how? Well, this is the story for another day. Maybe when I do purchase it. Thank you for reading and happy collecting!