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Let’s talk about a strategy that is gaining a lot of momentum amongst savvy NFT buyers: wallet tracking.
In a nutshell, this strategy basically entails finding top NFT collectors and then creating notifications whenever they buy or sell NFTs. This has been used to scout out projects like Bored Ape Yacht Club, Cool Cats, Pudgy Penguins etc.
In this video I discuss:
– the pros and cons of this strategy
– how it’s used in other investments like the stock market
– a popular tool that many investors are now using (nansen.ai) as well as a way to do all of this for FREE
– my own method for finding wallets and choosing the right collectors
The use case is best illustrated with the recent launch of Cryptoadz, a popular new pfp collection. To avoid gas wars for their early supporters, the team behind Cryptoadz opted for a stealth drop, which means that the drop time wasn’t picked up by sites like rarity.tools and it wasn’t spread on social media. However, many of the early buyers were actually well known individuals within the NFT space, and anyone that was tracking their wallets would’ve been notified once the mint began, and would’ve been able to get in on the ground floor for a project that quickly rose to a floor of 1.8 eth.
I fully expect this strategy to continue to evolve and gain more adopters, so at the very least you should be paying attention to it if you plan on being a serious NFT collector.
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0:26 cryptoadz case study
2:22 the origin story of this strategy (warren buffet)
3:11 why wallet tracking is SO important
4:33 pros of this strategy
6:35 cons of this strategy
8:14 how to find key wallets
9:31 nansen is gaining momentum
11:38 how to do this for FREE (etherscan)
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