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We’re going to be talking about Cardano nfts or, in short, Cnfts. İn this article, we’re going to be highlighting my strategy on how I’m going to be tackling Cardano nfts.

It’s important to understand that this article is not financial advice. What this whole article is meant to be is a way you can relate to my decisions on trades because I’m aiming towards being transparent with you.

I wanted to help stimulate some ideas in your head in order to create your own strategies for yourself. And that’s what we’re going to be doing here. Again not financial advice, but I will go through walk you through my thought process as to why I purchased this particular nft on Cardano.

The project that we’re going to be talking about is called Lazy LLamas. So in this article, we’re going to go over four things. One is what is the Lazy llama project. Two how I found this project.

Three, what made me decide to purchase and speculate on this project is why I bought some nfts. And number four what my overall strategy is to how I’m going to tackle the nft market on Cardano.

What Is Lazy LLamas

So what you are seeing here is the Lazy Llamas website. And recently, they sold out of all 5 000 mints for this nft project.

İf you are following the cnft scene for Cardano, you’re going to notice a lot more of projects are starting to sell out under mints which is a very bullish sign for this nft market on Cardano.

One of the things that really got my attention on this project is called Serum X. What Serum X is this is essentially another nft that can transform your current nfts to different kinds of mutations.

This idea is fairly cool, in my opinion, because it adds more of a secondary market of the Serums associated with Lazy LLamas. Keep in mind that this Serum and mutation feature that this project has isn’t unique to this project.

Other projects like for abr club made it really popular where they had a secondary market that could transform and mutate their current nfts.

İt can actually increase or even decrease the value of the nfts based on the result of what happens with the Serum.

This is just another example, so what can happen with the CRM with this one nft will transform it into this nft. İt’s a cool feature again.

It’s not unique to this project, but we know some successful features on ethereum is going to start migrating to Cardano because obviously the proven success model. Also, the fact that it brings a secondary market it’s really a cool feature to be added to Lazy LLamas.

They actually launched in mid-December. İn 2022 q1, which should be the launch of their Lazy llama odyssey relatively soon.

But in this case, what you are going to be able to do is start to speculate on virtual land, which is going to be a big thing. I don’t know if that’s when it’s going to be released. It doesn’t look like it will. But they will be offering like a Lazy llama holder leaderboard in a royalty benefit program which we don’t really know much about.

They’re going to be offering their own Lazy token, which would be expected because many of the more popular coins the nfts they do have some kind of token.

By the end of 2022 looks like they’re going to be moving towards more of a metaverse virtual land side of everything. İn which you can hunt for treasures and maybe like a plane to earn the game. They’re going to be doing their land distribution.

Why I Bought

I’ve purchased in total about 15 nfts. The reason why we’re going over this is because, obviously, I want to secure the transparency narrative for my article. Because I want to make sure that you know exactly what I’m doing and why I’m doing what I’m doing, and whether it’s successful or a failure. You can make your own decision based off of that.

I found this project through one of my friends. When I first found this project, I didn’t buy anything; I just bought like two. That’s it. And basically, I didn’t buy more until I saw the actual discord start to grow and the community start to be more active in the discord group. So, as a result, you start to see the number of mints start to go up exponentially.

Like within three days, I think it increased from like 2 400 to like 5 000 mints to be sold out. İt really increased exponentially, and as a result of that, because people created the community got created at a very good rate a very fast rate.

People wanted to buy it. And as a result of that, the only way to purchase any nfts right is actually just purchasing it right off the market. And right off the market, the floor price is 100 ADA.

İf you got in on the mint, it would have cost you 42 ADA. So just by buying it on the mint, you’re 2x the amount of money you invested in this collection.

Not only that, the Serum market in itself has been going crazy. Recently I’ve seen it as low as 5, and when I look at it today, it’s at 38 ADA per Serum.

Important To Know

That being said, I want to highlight some things that I’m pretty nervous about because of right with the jpeg.Store how it’s structured is that they can use royalties based on the percentage that the development team sets. They’re able to use those royalties to sweep the floor price, which inherently will cause a price to go up.

Basically, based on that, it means there’s a lot of artificial pumps for the Lazy llama or any nft collection for that matter. I know Chilled Kongs, if you haven’t heard about that, has been using the same method, and their floor prices increased drastically.

When I first found it. İt was like less than 200 ADA per chilled kongs, and I think it’s like almost a thousand ADA. So with that same method of I guess it’s more of a manipulation side to attract more people, but you have to understand what’s happening and why the floor price is increasing.

There’s a mixture of demand of people fomo in and creating hype for themselves and buying it, so they don’t miss out on anything, and there’s also a mixture of having the the royalties pump up the floor price because they’re just sweeping it.

My Nft Strategy

The overall strategy for Cnft’s goals is like this. Basically, I’m going to do a lot of research, and I’m going to look at every single nft project that I come across. And I’m going to look at the community. See how fast the community is growing, see how many people are minting their tokens, their nfts.

İf you see a very rapid increase, more people engaging within, more people in the discord that’s entering in and showing off their nfts. And you have more activity on Twitter about that particular nft.

Then you’re going to start to see more of parabolic growth. You’re going to have more people learn about the project, and they’ll start minting more.

We have to understand that the Cardano ecosystem is very new, and nfts are very small on Cardano right now.

Cardano’s Growth

With that being said, as a Cardano’s ecosystem grows more larger. So what’s going to happen is that there’s going to be more eyes more investors coming into the nft space on Cardano.

At this point, it’s like what I’m doing for myself is that I’m just gambling on a few dozen different nft projects. Like, I’m just buying a couple of entities here, a couple of nfts there.

I’m not thinking that money is going to return to me. I’m just pretty much gambling and seeing that if the Cardano ecosystem does really take off in 2022.