Anyone else been collecting NFTs?

Bitcoin Talk and Cryptocurrencies Crypto Gaming and NFTs
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I was wondering if anyone else like me has collected some NFT’s? I have collected a few form some affordable projects but I’ve kinda fallen out of love with the NFT space as it just seems to be full of scammers. Here are some of the NFT collections I’ve collected and my option of the project:

Fat Rat Mafia – This was my first NFT purchase, I bought two FRM for around $20 each, I’ve since sold one for $50 and my remaining one is worth around $100 now. They’ve also released another NFT collection called ‘Cheese’ which you can burn and a later date in exchange for a Mutant Rat NFT. I currently have 7 Cheese NFT but the price of those has dropped. In my opinion the FRM NFT collection has a great community and a team trying to build, but I do find that they’re very focused on making money rather than offering utility to the holders. They seem to release snippets of information to try and stimulate NFT sales but it takes forever for them to do anything. It does look like people are a little fed up with this and the NFT prices have taken quite a big hit. They probably just need more planning.

Master Cats – This is a NFT collection that I bought into as I liked the concept< I have 2 of these. You basically buy 1 NFT and then over time they will release to you 9 different versions of that NFT (cats have 9 lives). The other cool thing they do is that you can customise your cats with clothing etc to make them even more unique. The value of these NFT doesn’t really move up or down and are still pretty affordable. Currently waiting for the 3rd version of my NFT’s to be released.

Lucid – Lucid was a NFT collection I bought into before the art was revealed. They held a reveal party on Twitter with a Q&A session for the creators, which they talked about the future of the project etc. The art was cool but the project turned out to be a total scam and rugged immediately after reveal. I sold my NFT for a massive loss but glad to get rid of it.

Monkey Trip – Monkey Trip was another massive scam. They had a great concept, great artwork. After the reveal they posted a couple of things on Twitter to stimulate sales and then abruptly disappeared with everyone’s money. It’s a shame as I think they could have made a ton of money if they followed through with the concept they promised. I still own 2 of these NFT but can’t sell them as they’re worth nothing now.

Illaz – illaz was a revival attempt by the community of the Killaz project that was rugged. Unfortunately illaz doesn’t seem to be going anywhere. I ]have 1 NFT from the collection and don’t suppose I’ll ever manage to sell it.

Tycoon Tigers Club – TTC is my favourite NFT collection as the community is great. They’re not pretending to offer you the world and are always engaging with the community. It’s more of a business club than anything. Al;so, part of the revenue from sales goes towards WWF to help with tiger conservation. I own 10 of these NFT’s and have actually just bought some t-shirts from their online store.

Super Kawaii – Super Kawaii was another massive rug. They promised holders passive crypto income but as soon as the mint and reveal was finished they disappeared with the money.

So as you can see, the NFT community appears to be full of scammers, but if you choose the right project you can reap the benefits.

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Hi Pauley1,

This brings back some memories.

During 2021 I got into NFTs big time. I did not have too many different holdings, but my initial investment was less than 10% of our crypto portfolio, and at a high point, they had rocketed to a total value approaching $50K. I did not see the crash coming. By far my biggest holding was DeFi Kingdoms which had done a 10X + within 3 months. I look back with hilarity on that mad episode. It was all about timing, and with NFTs I got it wrong. Numbers sound huge, and it is incredible that we are still about 40% up on our total crypto holdings. I have not traded for over a year, and am waiting for the crypto markets to recover before I do any trading. I haven’t even looked at the value of our NFTs, expecting most of them not to exist. I wrote down the value to zero around June 2022. They take an awful lot of time to trade. When the DeFi Kingdoms NFTs were about $400 each, it was fun cash flowing an accumulation of quantity of NFTs at an amazing rate (something like 20% per month gains) and it was like a feeding frenzy. I wrote them off when they fell to 2% of their highest values and laughed all the way to the bank, regretting that I did not at least sel out half of the stock. We are very fortunate that our entire trading investment is a small part of our investment portfolio so I could have a positive view of outcomes. Crypto (and NFTs) is a great example of where dollar cost averaging is such a wonderful concept when exercising it over a long period. We chose to do that with gold, not stock or foreign exchange or crypto. I am not a gazzillionaire, but it is times like 2023 when you are so glad you invested at both extreme ends of the market.

They always say don’t invest more than you can afford to lose without it impacting your lifestyle. I am patiently awaiting the impacts of the next bitcoin halving (or Ethereum equivalent) and am keeping cash balances at the ready for a re-entry. Do not be put off by your NFT trading history to date. You will come back stronger and wiser, but the markets need to give you the sign that they are ready for you again. Don’t try to force trades when the market is as it is right now. A higher degree of regulation is in order, and it is not that obvious whether that will happen or whether first world economies will even ever let that happen to spoil the habit of all history. The perpetual exponential growth in printing money until it is worthless. Every nation in all of history has done that until its currency is worthless, no exceptions for 5,000 years.

If you don’t already know this video series is well worth a watch. I have been following this guy since 2008

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I tried and failed with NFTs. Some decent projects (at the time I though anyway) that just didn’t go anywhere.