Flipping an asset is not new to finance. People have made money flipping houses, cars, and all manner of assets for centuries now. So it’s no surprise that NFT Flips is a good way to make a fortune.
NFT flips have the likelihood of generating huge turnovers in short periods of time. That’s just how the NFT flip market is right now. And as we will see in this article, flipping NFTs can make you a millionaire overnight, as it has for many.
If you’re new to NFTs, check our beginner guide on PFP NFTs before you dive deeper into this topic.
The Basic Concepts Behind NFT Flips
Behind every NFT flip is an age-old idea—buy low, sell high. As such, the shorter the time span between acquiring an NFT and cashing out of it, the better. So, the timing, current market sentiment, and the NFT’s demand are crucial in the process of flipping.
There are different ways of flipping NFTs for big payouts. But because NFTs witness significant price appreciation following the first minting event, early adoption is one of the surest ways of making profits. So the trick is to identify promising NFTs and get in on them before they go to the moon. And to that end, participating in NFT airdrops is great.
The Shining Stars of NFT Flips
Now that we know what NFT flips are, let’s look at some of the biggest flips to date. One thing they do is show how crazy things can get, that too so fast.
Beeple, Elon Musk, and The Bull Run
In the last 2 years, Mike Winkelmann, aka Beeple, has become the poster child of NFT artists. With Sotheby’s sales that raked in millions, the artist is the biggest gainer from NFT flips. Mix this with influencer Elon Musk and ‘The Bull Run’ NFT, and what you have is the recipe for some insane NFT flips.
The Bull Run went on a 5-minute open sale on Nifty Gateway at a price of $969 and immediately grew exponentially in value. The current price on the market is close to $90 million, making early buyers essentially millionaires.
A similar story follows for the price appreciation of the work GIGACHAD. The image of a cartoonishly muscular Elon Musk walking a Doge is currently priced several times its mint value.
PAK and the Lost Poets
Another set of significant price appreciation was seen with the sales of work by anonymous NFT artist, PAK. The Sotheby’s auction alone netted the artist close to $17 million. And particularly those who participated in the Lost Poets airdrop have gained immensely as the project amassed nearly $70 million in total value.
The price went up and down a bit between 5 and 9 ETH, and now, some assets in the collection are going for thousands in ETHs. It just goes to show how much value arbitrage these NFT markets can bring in and how lucrative NFT flips can be.
Flipping Popular NFT Collections
Unsurprisingly, NFT flipping can be very profitable in the markets for some of the most popular collections. Especially because the hype around PFP NFTs turned some collections into sought-after assets. Notable amongst them are collections like the Bored Ape Yacht Club, Cool Cats, Mutant Apes, and Crypto Punks.
The Punks made the most millionaires, as half of them were actually airdropped back in 2017. And even people who bought them, have created wealth from NFTs through flips like the one on the right.
Another example, flipping Bored Apes is still very profitable, so many months after the initial mint. Some leaderboard charts are a good way to track how some people are still getting thousands of dollars in trade. The same is true of Cool Cats which has been flipped for significant gains several times over. Mutant Apes, in the meantime, minted for 3 ETH a few months ago, and we see some sales over 300 ETH recently. You can find that flip in this list of Ape PFPs.
As a whole, the higher liquidity and sustained demand for the popular PFP NFTs make them ideal to track and look out for an NFT flip opportunity.
Analysis & Risks: Make Profits, Not Loses.
Beware! Flipping NFTs for profit can be harder than it sounds. Analyzing the market properly is key, and this requires some effort. But there are several ways to do this.
However, there’s much risk involved in all of this. Most importantly, there is no guarantee that your trades will go the way you want them to. So, managing risk, preserving capital, and assessing what you are buying into is equally important.
Nevertheless, one way to reduce your risk is to get NFTs without investment through airdrops. And to this end, following our pages will keep you updated at all times. Because at Airdrop Alert, our dedication is bringing timely and verified information.