How to make it in NFTs, with Keyboard Monkey.
UpOnly: Chats with Crypto Experts
The Black Lotus of Magic
A lot of enety projects these days like it. In some ways, i understand what they're going for. They want to give you a narrative of why ther you should own there. At the same time, it is actually kind of bearish right? Because then you attach the value to these promises that they've made. And lithe penguins, i don't know whathe penguins are doing, but like er maybe like ponks is betterex,.
Links
Show Partner
This episode is presented by FTX. Trade on an awesome mobile interface fee-free, and still get all the great portfolio tracking features you know and love: https://uponly.tv/ftx
Show Notes
The Very Beginning
– KMonkey almost degened all of his money away pre-2020
– Was getting yelled at by risk managers at work
– Had $250k around the covid dumps in 2020
– Now is deep 8 figures
– Monkey is now “diversified”, meaning stocks, real estate, private equity, etc.
– KM: “I don’t wanna go to 0 again” lol me 2 m8
– Mostly traded stocks in 2020
Wen NFTs?
– Started really getting in in Feb 2021
– Started with Hashmasks
– KM: “I had a guy writing algorithms for me to find rarities, staying up all night to trade these things”
Trading NFTs
– Keyboard Monkey often will go all in then panic and dump all bags but it has worked so far lol
– Whenever Kmonkey panics new huge buyers come in, like recently he was selling and some Saudi Arabian fund came in and scooped a Fidenza for 1000 ETH
– *Cobie spots Fluf in KM’s portfolio*
– Ledger: “I’ll buy that”
– Monkey: “The ROIs you get on NFTs in such a short amount of time is really ridiculous”
– Trading is a blend of flipping and buying long term art that KM really likes
– Cobie: “If you mapped some of these on a chart they’d basically go straight up” lol very true
– Very good for momentum trades
– Kmonkey: “If you could short NFTs I’d be ruined”
How to Pick NFTs
– Ledger: “What makes them stand out? What makes them special?”
– KM: “If you look at a Fidenza, there are no shitty Fidenzas. Same with Penguins there are no shitty Penguins”
– KM: “It’s a narrative spiral mixed with good art mixed with who’s buying them”
– ‘dino pals’ selling for 6 figures!
– Cobie: “wtf are we doing hahaha”
NFT Betas
– KM: “You can look at mid tiers… when floor price is rising and the project is gaining traction, picking off mid tiers can be a great play, there’s a little alpha for ya”
Trading Style
– Cobie: “Is it fair to say you take a small loss that you punt right away, or you get a winner and let it ride to a homerun?”
– KM: “Absolutely, I kinda take losses like a death by 1,000 cuts but when I find a winning trade I pile in with size”
– Without diversification a blow up can obviously be devastating
NFTs Growing Crypto
– Ledger: “There are a lot of people who never clicked with crypto but now are all in on NFTs”
– Ledger: “We really underestimated NFTs power of collectibles to bring in normies”
– KM: “Cyclical booms definitely the next phase of NFTs”
– KM: “Can be a big hot potato game until bigger money comes in, which historically it has been”
Information Flow
– Have 3 screens open: Twitter, Telegram, Discord
– KM: “Its all just information coming in and keeping your ear to the ground”
– Cobie: “100% that’s a key for crypto”
*@RookieXBT just live bought the red dino… great speed sir
Turnkey NFT Trades
Art Side
– Wouldn’t buy a Fidenza
– Would go to Art Blocks (~50 ETH)
– Then Fuzy Squigles (~20 ETH)
– Then for a higher end piece, a Ringer
PFP side
– Bored Apes
– Pudgy Penguins
– Forgotten Runes
– Then the pedo rabits, FLUFs
– Hashmasks
Projects With Roadmaps
– Cobie: “I don’t like the roadmaps as much because with Penguins and Punks it’s like you know what you’re in for, with roadmaps you still gotta rely on team execution which has risk”
– KM: “I think you nailed it, short term roadmap is bullish but if they fall through on that its hyper bearish”
Question From Luke
– Luke: “What would you do for someone with less than 10 ETH?”
– Kmonkey: “Look for volume and liquidity in PFPs, wait for momentum then flip them into bigger projects”
– Minting typically won’t do as well
– FIND MOMENTUM TRADES IN PFP
– AKA Penguins, Bored Apes, Degen Apes (SOL)
Anything You Keep Forever?
– Kmonkey: “I keep saying yes and then someone pays astronomically for it”
– Cobie: “DC Investor (@iamDCinvestor) has never sold anything and his portfolio is around like 8 figures or 9 figures”
– Cobie: “They have a level of conviction I respect – similar to traders who try to flip every coin vs. investors who find long term value”
How To Value
– KM: “Typically price follows rarity, sometimes its a personal connection though”
– KM: “Looks like all of the punk buyers are guys sitting at their computers wearing hoodies” lolll great insight sir
NFTs on Other Chains
– Degen Apes on Solana
– PARIS HILTON JUST GOT A DEGEN APE
– *full disclosure I’m all in degen apes
– KM: “The other chains do offer the opportunity to be super early”
NFTs For People Who Hate Everything?
– Gaming stuff
– $AXS for example
– RARE and other NFT coins
COBIE GENIUS IDEA
– Cobie: “An NFT project called Noah’s Ark where there’s a male and female of each animal and like 10,000 total”
– Ledger: “It’s like FLUFs breeding” lol ledger!
FINAL ALPHA
– Keyboard Monkey: “Be patient. Once you find the project, ape first and ask questions later”
Notes by Kevin
Music by GiovanniPickle
Remember Everything You Learn from Podcasts
