We just ended the first quarter in 2022 but we can already report 4 major goofs in the world of top-tier NFT’s. In this article we are going to cover a few examples and allow you to imagine the pain the sellers experienced as impatient investors.
Non-fungible tokens remain a tremendous money-making opportunity for those who know what they are doing. Unfortunately, opportunists can easily fumble a potential gem due to impatience and “needing liquidity”. Several fumbles have been recorded in the past few hours, indicating the NFT space isn’t for everyone.
The previous holder of Meebit #4543 saw a golden opportunity when they could acquire this asset for just under 6 ETH. Unfortunately for that user, the price floor has collapsed slightly since, and it seems the individual wasn’t intent on waiting for this to improve. After holding for 29 days, they flipped Meebit $4543 for 4 ETH, yielding a 1.99 ETH loss and making it a fumble. Unfortunately, being impatient rarely works out with NFTs.
Despite the hype surrounding CryptoPunks today, people really need to question whether investing in the collection is worthwhile. The user who acquired CryptoPunk #2996 acquired the NFT asset for 124.5 ETH over six months ago. It is one of those Punks that seemingly kept declining in value, as it was sold today for 63 ETH. A big fumble costing the user 61.5 ETH, yet the initial purchase price may have been far too high.
The Bored Ape Kennel Club has always been a popular NFT collection. However, people throwing double-digital ETH values at buying these assets need to show patience or accept the fumble. BAKC #4534 was fumbled for a 1.8 ETH loss after 23 days. It was bought for 10 ETH and sold for 8.2 ETH. Holding a BAKC still awards ApeCoin, assuming one owns a BAYC or MAYC too.
It appears there are some low-floor sales going through for the Meebits collection these days. However, the collection may have run out of steam too, for all one knows. Holding Meebit #9675 for 29 days resulted in a 2.62 ETH loss for the previous holder, making it a rather big fumble. Another impatient holder looking for a quick flip and figuring out that is not how things work unless you are an early investor or influencer.
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