In This Issue
- I share my thoughts on how to survive in the current market, Anchor rate drop, hacks & no hacks & a new kid on the NFT block.
- Sam has a report for you on NFT whitelists
Premium members also get the following:
- My latest portfolio updates
- Rekt Capital has the latest technical analysis for you on the market.
- Rebecca has all of the latest news for you.
- Upcoming NFT drops
- Defi Dad has a tutorial for you on how to earn up to 82% APY with stablecoins on Spool
- Jesse has a ton of hot new airdrops for you.
- Hot new token sales.
- Rebecca breaks down this week’s trending coins.
- Jesse has a deep dive for you on Mina Protocol
And much more!
What’s On My Mind by Lark
The State of the Market
Uhhh… knock knock, anyone still alive out there? Lol. Anyway the market remains rubbish, and yes, I know we have a cute little pump happening today thanks to the Federal Reserve saying that 0.75% rate raises are off the table. BUT Bitcoin is still trading well below all major moving averages. Until we reclaim these, the bears are in the driver’s seat. But instead of lamenting the market I want to discuss how to make money here and now in this market!!! So let’s dive in! 👇👇👇
How To Survive The Current Market
It is that time again, to talk about how to not just survive, but I truly hope to thrive in the current market conditions. I will be honest, it is not easy to make gains right now. The market has gone from easy mode late last year, to hard mode. But just because we are in hard mode does not mean that there are no gains to be had. Quite the opposite, there have been EPIC gains recently, BUT those opportunities are much harder to find!
Token Sales on platforms like Dao Maker
Two weeks ago I featured the Step App in the token sale section of the premium newsletter. The current ROI of this token is around 120X the public sale price. If you had invested $1,000 you would currently be sitting on $120,000. And yet, some people still pay no attention to token sales. This one sale alone would have completely changed some people’s lives and definitely their investing year allowing them to dramatically outperform the market.
Quick Flips on Trending Coins
Even with the current lackluster state of the market there have been coins that outperform. For example APE more than doubled in price in the lead up to the Bored Ape Land sales. STEPN has gone from new high to new high as the move to earn craze continues. These opportunities are fewer and further between than when the market is in easy mode, but they still exist and are not to be ignored.
First and foremost if you don’t have any idea how to trade then this is not for you. But the reality is that traders make money whichever direction the market goes. Lots of money has been made shorting the bounces during this downtrend. If you do decide to go this route then keep in mind that leverage should be kept low. No 100X YOLO!!! The risk is too damn high. There is plenty of money to be made with 5X leverage. Trade with a stop loss. Why get liquidated? Just use a damn stop loss man!!! Keep your position sizing low. If you have 10k in your trading account then don’t use it all on one trade. Use smaller amounts like 10% per trade.
I am actually quite surprised how many people have stubbornly ignored NFTs. There have been some truly insane gains happening in the NFT space. Particularly for those who can get in early on mints for new coins. For example I minted a Cyber Broker for 0.3 ETH, and it is now worth 3.8 ETH. 3.5 ETH profit, that is about 10K. There have been lots of other mints that have made some crazy gains too. Sam shares three high potential NFT mints each week. Check them out. Money is being made there. Websites like Rarity also list lots of upcoming sales.
A highly lucrative way to earn money in crypto is farming. Even in this down market there are crazy good rates all over the place.
Whirlpools on Orca allow you to earn 52% on Solana only pairs, and 300% on Solana / stablecoin pairs.
Want lower risk? Then just use stablecoins to earn yield. Spool’s new pools have 60-70% yields, Anchor is still paying out 18%, and there are probably 100 options for earning 10-12% yields across most chains.
This is a far from exhaustive list.
Every week we cover airdrops in the premium issue, and every week we are providing opportunities for FREE money. Sure, you won’t be eligible for every airdrop, but you might be eligible for quite a few. For example last week we covered the Optimism airdrop which many of you will likely be eligible for, and this week we are highlighting the EVMOS airdrop. This is among the half dozen or so airdrops we cover weekly. And we also highlight incentivized testnets. If you have the time to help new networks test run their chains and applications then you can receive a lot of free tokens later on as a reward. Most of these won’t be worth too much, but every so often you get an Avalanche opportunity which gave $100,000 per user to those who helped them on the incentivized testnet. Life changing money!
In Other News…
Anchor Rate Drop
Well, it has finally happened. Anchor has dropped their rate to 18% from the long standing 19.5% rate. BUT, this only extends their runway by like 2 days. With rewards likely to dry up in about a month for Anchor. Meaning that there will be some more emergency measures between now and then. Rates will fall further, and Terra might even need to step in with a cash top up again. The Anchor app is THE reason for Terra right now. The long term health of this application must be sorted out by the team. We could see a big capital flight as the rates drop though, including from me. I have a good deal of cash in Anchor and if the rates drop too far then I will seek greener pastures. I have no loyalty to applications, I seek yield.
Hacks and No Hacks
This week Rari was hacked for 80 million dollars. The latest in a long string of hacks in defi that have seen billions go into the hands of scammers in the last year. This is a reminder that defi is experimental, and that the services you use could be hacked and all of your funds could be gone. On the flip side, the Rainboz Bridge which connects Aurora to the wider crypto world managed to fend off an attack. Their bridge architecture was actually designed to resist such attacks. Bridge tech is absolutely critical to defi, and thankfully it is getting better all of the time. If you want to read a breakdown of the attack then check out this thread from the CEO of Aurora.
New Kid On The NFT Block
While a lot of noise was made about Coinbase’s NFT marketplace, and yes, I am sure it will be big, the real story right now is about Looks Rare. The biggest on chain competitor to Open Sea. It is currently doing half of the volume of Open Sea, and almost 10X the volume of the next nearest competitor which is Solana’s Magic Eden. Now I know what you are thinking, but Lark, isn’t Looks Rare all just wash trading? It was, but now it isn’t. How do we know this? Because 98% of trades come from collections with royalties. Translation, you would lose money wash trading, not make it. Why is Looks Rare gaining in popularity? It is pretty simple, they are a better place to trade NFTs. The fees are 20% lower, you get free LOOKS tokens for trading NFTs, and those LOOKS tokens pay you out in both LOOKS and ETH. If you find yourself doing 100% of your NFT stuff on Open Sea, my main question is simple, Why? PS do be aware that prices can differ between sites so it is worth checking both to make sure you are paying a fair price.
🔥 IN CASE YOU MISSED IT 🔥
Check out this awesome video I made on the biggest mistakes I have made in the last year 👉 https://youtu.be/ijk4HWm0uE4
NFT Whitelists by Sam
If you’re buying NFTs on secondary markets, then you can just browse for what you want and make your purchase. Minting a new NFT at a project’s launch, though, you’ll come across NFT whitelists, an area of the NFT world that solves some problems, causes others, and is–in some cases–being replaced altogether.
What Are NFT Whitelists?
When an NFT project launches they’ll often have two stages to the minting process. First, there’s a private sale, that you can only access if your wallet address has been added to a whitelist (also known as an allowlist). Then, there’s a public sale, when anyone can try and buy, but which can become congested and lead to gas wars.
Being on the whitelist guarantees that you’ll be able to mint something, and means you can relax and not worry about competing to get in quickly. The minting price might also be cheaper during the whitelist sale.
How Do I Get On NFT Whitelists
All projects set their own rules and allocate whitelist spots however they like.
- Raffles – Winners are randomly drawn. Entry to some raffles might be limited, for example, by being accessible only to owners of NFTs from another collection.
- Hold other (prestigious) NFTs – Sometimes, smaller projects want to get buyers on board from bigger, high status collections. An advantage of holding a prestigious NFT, such as a Bored Ape or an Azuki, is that you’ll find yourself with opportunities to get on the whitelists of other projects.
- The whitelist grind -Up to now, a lot of projects have allocated whitelist spots to selected Discord members. People who act as mods, drum up enthusiasm, create fan art, and generally help to drive the community, may be given whitelist spots.
You’ll also see chances at whitelist spots being offered for inviting other people into the Discord, and for retweeting and tagging people in on promotional tweets.
What Are The Problems with Whitelists
The biggest complaints are around the idea of grinding in the Discord. At first, it sounds reasonable: true believers who help build the community get something for their commitment.
In reality, though, you can simply get people cynically going through the motions in order to secure whitelists. They may or may not have real interest in the project, and when it comes down to it, spending hours every day in a Discord channel is an uninviting proposition.
Regarding the technique of throwing out whitelist spots for retweeting promo tweets and dragging people into the Discord, this generates engagement, but it’s questionable how valuable this kind of growth is in the long-term, as it might just be superficial.
And as for giving out whitelist spots to holders of blue chip projects, although perks and advantages are how things often work, it can be off-putting to newcomers and make the NFT space seem cliquey and insider-weighted.
What’s The Alternative?
A different approach is to use a kind of entry pass, or minting pass system, whereby holding a particular NFT gives you access to other launches. In this system, holding one NFT might grant you access to an entire ecosystem, including multiple future mints, and other benefits.
Some notable examples of this are PROOF Collective, Nanopass, 0xOG Pass, AlphaDogg, The Art of Seasons, and the Loveless City Metropass. These differ widely in their details, but all offer access to something beyond just the NFT itself.
The Art of Seasons
The Art of Seasons stands out because the original NFTs themselves are collectible works of art, and some of them even come with the offer of physical prints.
That said, they probably wouldn’t have reached the prices they’re currently standing at (around 1.5 ETH) if they didn’t grant access to mint from the upcoming Renga collection.
Buy a Nanopass, and the NFT grants early access to future projects, while functioning as an attractive-looking plot of virtual land in a project called the Nanoverse.
The 0xOG Pass is very straightforward. Own a pass, and you can mint an NFT in the private mint round of all future projects by 0xStudio. For an idea of what that would include, take a look at the upcoming LonelyPop. A famous, already existing 0xStudio-related project is 3Landers.
Loveless City Metropass
With the Loveless City Metropass, you’re buying into a creative environment that revolves around an artist called Tennessee Loveless. Although the ecosystem itself is a little complicated, the basic premise is simple: do you want in on what this artist delivers?
AlphaDoggg offers you access to work from a variety of artists, for a limited, two-year time period, but with the option to renew at the end. Again, if the artists involved create work you want to get hold of or think would make for a good investment, it makes sense to buy in.
The PROOF Collective NFT is the most prestigious pass, and–at well over 100 ETH–is also the most expensive. PROOF allowed holders to mint Moonbirds (and Moonbirds gives access to PROOF, so they loop together), but in both cases what you’re essentially doing is placing a bet on the capability and future plans of the man behind it all, web entrepreneur Kevin Rose.
With PROOF and Moonbirds we’re actually drifting into new territory, in which owning an NFT doesn’t only give us access to future mints, but also exposure to a web3 startup. Is this a rehashing of the ICO model that crashed hard in 2018, or is it an adaptive new web3 approach? The answer to that remains to be seen.
One issue with the idea of NFTs as passes to buy more NFTs, is that you could end up with infinite regress, or in other words, “how do I get on the whitelist to mint the NFT that gets me on whitelists?”
Ultimately, whitelists are about scarcity. There is currently–on high quality, vibe-harmonized projects–more demand than there is supply, and so the very fact that there is a need for whitelists is a positive indicator.
Thank you so much for your support, and I truly hope that today’s issue will give you insights needed to help you master your wealth.
If you are reading this it means you are on the free version of the Wealth Mastery Investor Report, which is great for news and tips on the crypto markets.
If you really want to take advantage of fastest growing asset class EVER, I highly recommend you join us in the Premium Investor Report.
You’ll immediately get access to:
- Deep dive Altcoin report & The Trending Coin Report
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- My Investment Portfolio Updates
See you next time!
Lark and the Wealth Mastery Team
TCL Publishing ltd (director Lark Davis, owner of Wealth Mastery) is not providing you individually tailored investment advice. Nor is TCL Publishing registered to provide investment advice, is not a financial adviser, and is not a broker-dealer. The material provided is for educational purposes only. TCL Publishing is not responsible for any gains or losses that result from your cryptocurrency investments. Investing in cryptocurrency involves a high degree of risk and should be considered only by persons who can afford to sustain a loss of their entire investment. Investors should consult their financial adviser before investing in cryptocurrency.