SneakyNinjaPants is arguably one of the most successful NFT traders to ever sail the OpenSea. Some of his trades are the stuff of legend, and we were lucky enough to sit down with Señor Sneaky for an exclusive interview.
Sneaky provides some useful tips on how to actually make money with NFTs, his trading secrets, and how he lost $650k in one trade!
How would you try to make money with NFTs if you were just starting out today?
Maybe not the answer you’ll get elsewhere but truthfully I don’t think there’s really money to be made at this moment for new traders in this market…. but that doesn’t mean you shouldn’t enter.
Instead, take this as a warm up / learning period where you get real experience trading and learning from your losses just as much as your wins – just don’t play with anything you can’t afford to lose and moreover keep in mind to keep exposure w/ each play small so you can get more experience.
Ultimately the goal would be to use these lessons and experience trading with you for the next bull market where you can be leagues ahead of those who enter at that time.
How did you get into NFTs? And how did you get to where you are now?
Been in crypto for a year or two prior to minting my first NFTs on July 2nd 2021, with roughly 3-4 ETH to start with. I lucked into a bull market and just kept going from that point forward until I was spending my entire day dealing w/ NFTs – I saw a unique opportunity that I thought we wouldn’t see again so I went as hard as I could.
Some thousands of ETH traded back and forth later, I’m still here hoping to utilize that same experience and knowledge when the upcoming web2 x web3 clash happens.
Would you be willing to share some details of your biggest wins and losses? And what did you learn from each of them?
I’m probably one of the few people who happily share their biggest losses on Twitter so I love this question.
- Galactic Apes, Mutant Apes, Creature World (no lesson with these 3…. just mint a lot during the bull szn, I guess?);
- Azuki (lesson here: I bought in and sold at tons of price points, but I kept buying back in when it kept going higher because I wasn’t focused on my previous trades but only potential new price action);
- IreneDAO (lesson: don’t believe people who can’t use the blockchain?).
- Cyberkongz (-$610k) mostly because I bought a genesis at the top (195 ETHish) and sold at 65ish… lesson? I should have seen that the price action was unsustainable despite the reasonings for it’s (then) current trajectory upwards.
- Cosmic Wyverns (lesson: they were following in the footsteps of similar projects who did really well, but their team wasn’t anywhere near as strong to sustain the price action and it fell out when everyone realized);
- Wizards & Dragons (lesson: p2e games are still unrealized ideas and despite everything you can see them evaporate at a moments notice, moreso then most types of projects IMO).