So, it's a bear market. Now what?🤔
What we've been up to as the dip keeps dipping
After being in the Web3 space (specifically NFTs) over the last seven months, living through three bear markets, and buying Luna at the dip only for it to go to 0, I realize that there is so much I don’t know and haven’t tried out. As a digital native, I pride myself on being at the forefront of new web technologies and it’s been an itch of mine to explore as many of these opportunities as possible.
Last week, as the bear market intensified and bitcoin dropped below $20k, I decided to expand my knowledge about the space, document the process for my readers and present the keys to as many life-changing doors as I can find. The idea is to continue to give value through FOW3 as we face the challenges inherent in the decentralized web.
The first thing on my list is learning how to flip NFTs.
I’ve seen a lot of people become millionaires from buying and reselling NFTs to make a profit. After a long time spent checking out Feyi_x, TheGreatOla, and other notable degens tweets, I think I’ve finally cracked the secret to making money off NFTs.Â
The basic idea of flipping NFTs is simple:
Find the latest NFTs
Join their Discord
Get their allow list (or white list)
On launch day, mint
Watch how the NFT is doing on the secondary market
Flip for a profit
No matter what happens, do not be caught in infinite regret
But the execution, I’ve found, is a whole different kettle of fish. I have to:
Make sure enough influential people are interested in the weird NFT I buy or it has a good story.
Buy more than one of the NFT.
Watch the market consistently.
Watch my gas fees so I don’t overspend on an NFT.
Use a burner wallet so I don’t get scammed.Â
Some people select the right collection and become millionaires at their first try, but so far, I’ve only managed to flip some free NFTs that now cost less than the gas fees I paid to mint them.Â
Huge bummer, but we move.
The second thing on my list is rabbithole.gg, which I found two months ago.
Rabbithole is a platform that helps you earn crypto while discovering and trying out new applications in Web3. I found the idea totally mesmerizing as it fit my plan to the T. I checked how to get started and learnt the first thing to do was open a BrightID account.
What Is BRIGHTID
BrightID is a social identity network that allows people to prove to applications that they aren’t using multiple accounts.Â
Creating my BrightID account was easy.
I downloaded my BrightID app here [android here], and my setup began..Â
I put in my username [Faces Of Web3]
2. I uploaded a profile pic. There was no option to skip this action.
3. I created a password, using all the tactics for a safe password(upper and lowercase letters, a number and a sign, a feather from a bald eagle).
4. The next screen was the homepage where I could see how many connections I’d made, what achievements I’d unlocked and the number of apps I’d connected with. E.g. rabbithole.gg
I decided to see what other achievements I could unlock.
I chose the first thing on the list: connect with another BrightID user. Since I don’t know other BrightID users, I created another account on my other phone. A bar code popped up and I scanned it on the second phone.
After I connected, I got this pop-up that told me that I’d unlocked another achievement.
I am very excited and looking forward to unlocking more achievements on BrightID account because it means I can start earning crypto without doing the most. I plan to unlock them this week and yes, also write about it for y’all.Â
Let me know if this was helpful by leaving a comment on this article. Send an email to esther@facesofweb3.com if you create your BrightID account and wish to connect with me on BrightID. I’d be delighted to hear from you.
Till next week–-stay strong!
Trivia:
What is BrightID?