Solana + NFTs?
Though the NFT bubble on Ethereum seems to be deflating, there is still an opportunity to flip digital art on Solana and make next-day 2-3x returns.
While this strategy is incredibly risky, if you can get your process down and minimize your risk, you can get in on the best sales and beat the competition.
But before I move on, let me remind you that this newsletter is presented to you by the SIMETRI team. Follow us on Twitter for the latest news and updates.
Every month we search for the best crypto projects with the highest potential to capture growth. And it has been paying off.
Our portfolio has been crushing the market. As of August 19, our portfolio of 30 buy recommendations are up 2,673%.
That includes winners and losers. By using SIMETRI, you can get the insights you need to construct a Bitcoin-beating portfolio.
I believe you’ll enjoy being with us. However, we have limited capacity to ensure that our picks remain profitable for all members.
We only have nine seats still open for SIMETRI in August, so the best time to subscribe before we announce the next pick may be now. As a final nudge, I give you a 10% discount as a loyal Insights reader.
It’s completely risk-free. If you find that SIMETRI isn’t right for you during the first 30 days of your membership, we’ll give you a full refund.
Now, onto Solana NFTs…
NFT Mania on Solana
Trade volumes on NFT marketplace OpenSea have soared to an all-time high of over $1.2 billion in the last month as the craze for non-fungible tokens continues. People are desperate to buy Ethereum NFTs from popular collections and artists. Some are ready to pay millions for JPEGs that were worthless just a few years ago.
Seeing enormous demand for NFTs on Ethereum, other chains also want to take a bite out of the pie. That is how Solana appeared on our Radar.
Solanart—the first NFT marketplace on Solana launched in June of this year. And now we see a wave of users and NFT projects moving to Solana.
For us, as calculated speculators, these NFTs present an opportunity. A few recent sales of NFTs on Solana were quite profitable. For example:
Degen Ape Academy
Given the above numbers, the risk/reward ratios look quite attractive.
Finding Solana Sales
Currently, there is only one marketplace for NFTs on Solana: Solanart.io. It is the primary source for information on upcoming sales.
Usually, the Solanart team lists upcoming NFT sales on their website, but not all of the time. To make sure you catch all of their sales be sure to also follow Solanart on Twitter.
Currently on our Radar are two NFT sales from Solana:
How to Get SOL
I buy SOL on Binance. However, if you don’t have access to Binance, check out the list of available exchanges here. SOL is available on both Coinbase and FTX.
When it comes to Solana wallets, there are several of them, but I would recommend using Phantom wallet. I have used it for several weeks already, and it seems to work perfectly fine. This wallet was recommended to us by Solana’s CEO Anatoly Yakovenko during one of the interview calls we had with him a few months ago.
When to Sell?
From my experience trading and minting NFTs on Ethereum and Solana, the best time to sell is right after the marketplace listing. Usually, during that time, interest and prices are higher than they are a few days after the listing.
Of course, I don’t know what will happen in five years, and NFTs that you trade for several hundred bucks might be worth millions of dollars in the long term. But I prefer certainty.
However, for the most part, my investment strategy is to find flip opportunities. I don’t like the prospects for holding these JPEGs over the long term. It’s simply not worth the risk, in my opinion.
HODLing for More Alpha
If you are interested in finding a long-term investment, I will share one last piece of information that could pay off big time.
We all know how expensive Crypto Punks are; they were among the first NFTs on Ethereum. Following the same logic, in a few years the early NFTs on Solana, if the project continues its trajectory, could be as expensive as Punks are today.
So, I highly encourage you to check out Solarians—the first NFT ever issued on Solana. Currently, you can buy it for as low as 19.08 SOL, but who knows how much it will cost in five years…
You can get trading signals, reports, and market commentary from our team in an easy-to-digest package. By becoming a member, you will become part of a community of like-minded people looking to make smart crypto investments with high upside potential.
Don’t take it from me; we have hundreds of satisfied subscribers who love their SIMETRI memberships.
We only have nine SIMETRI seats for August. If you’ve been waiting for the right time to subscribe, it’s now, especially if you consider a 10% discount I’m giving to loyal Insights readers.
If it’s not right for you, contact me within 30 days, and I’ll make sure you get a full refund.
Now is your chance to learn how to make profitable altcoin investments.