Shortly after my last post on those StockX NNFTs, (yes, NNFT), where I said ‘a fool and his money are quickly separated’ - @raulscryptos hit me and showed me his 2-3 hour hold and flip - he made nearly $1k profit in just a few hours by purchasing and reselling a StockX NNFT.
So…really, I don’t often think in these terms. I usually have to buy into something mentally before I can buy into it physically - if I can’t get over the mental hurdle it’s a non-starter for me…it’s for someone else at that point.
That being said - I am not really faulting those who have figured out a way to make money off of these. It’s not a crazy scheme or anything, it’s just the basics of reselling…It just didn’t even cross my mind with these knowing what I know about them. If I knew how to make money off of them, I probably would have tried it myself…I’d just personally rather not participate in a crappy product.
And this brings up another point - I keep seeing sneakerheads who are big mad at NFTs and/or crypto calling it a big pyramid scheme, and I think this might be why…whoever is left holding the bag is holding an NNFT and the unique distinction of being the biggest idiot in the space 😂
In any case…it’s good to see people finding a new way to make their money, I don’t think I could buy into anything purely for the flip, tho.