Last year Zeneca_33 started the 1ETH challenge. He would start with a small bankroll of 1 ETH (~$4,000) and see how much he could grow it.
He took that 1 ETH (~$4,000) and multiplied it to nearly 5 ETH (~$20,000) before we saw the major correction near the end of 2021.
Here are some of the lessons he learned along the way.
Early Information is King. Live on Discord & Twitter.
You can't keep up with everything in the NFT space. You need to focus on your niche. Then, find all of the relevant sources of information on Twitter & Discord around it.
Zeneca’s underlying success was in keeping a close eye on community sentiment around projects on Twitter and Discord.
How can you do that?
- Look at the accounts Zeneca follows and add all of the relevant ones to your own Twitter NFT list.
- Read Zeneca’s guide to discord and learn how to scout informational channels to keep an eye on.
#1. Always be Liquidating. Momentum is key.
With a small amount of money to invest, you need to focus on consistency over home runs.
- Whenever you can take a 20%+ return on a flip, do it. Just make sure where your next investment will be.
- Every day you hold on to a project hoping for it to go up, is a day you can’t invest in another project that might net you another 20-30%.
- One of Zeneca’s biggest mistakes was getting over-excited about an NFT that was 45% of his total portfolio. Leading to him having to heavily slow down his investment momentum. Don't over-invest your bankroll on one project.
#2. Bid Below the Floor Price on a Wide Spread of Projects
One of the best ‘slam dunk’ ways to flip a small bankroll up is to convert your ETH to WETH on OpenSea and make bids on lots of items at well below floor price.
- Find collections that have stable floors & bid 20-40% below the floor price.
- The more bids you place, the more likely you are to have one hit.
- Just landing one hit here will mint you a significant return.
#3. Look for Stable but Thin Floors for an Easy Flip
- Keep a daily eye on the floors of trustworthy projects.
- Find 'thin' floors; meaning buying a few of the bottom-priced NFTs would significantly raise the minimum price of the collection. (~.45 ETH -> ~.6 ETH)
- Buy up the ‘thin’ NFTs and reprice at the new floor. Easy 20% returns.
Using these strategies, Zeneca was able to take a 1 ETH (~$4,000) stack and bring it to nearly 5 ETH (~$20,000).
Follow the lessons learned and go make your own gains.