NFTs, Investing, Strategy

Two Valuable NFT Investing Reminders from the World of Women Galaxy Drop

How I screwed up twice (bigtime), but still (luckily) came out $5k ahead.

In the end, this is the one I wound up keeping, and I’m thrilled to have it! :-)

The recent WOWGalaxy mint was one of those super-frustrating days for me in the NFT space. And thankfully, these experiences are almost always related to the minting and investing side of NFTs. (Thankfully, I have the programming side down to a science at this point — so, if there’s anything you want to know about art coding, dApps, smart contracts, or just how NFT drops work, reach out anytime.)

But, I did learn — or, rather, I should say re-learn — a couple of important lessons during that ming. Here they are:

1. Dutch Auctions Are All About Timing

The WOWGalaxy drop’s public sale was a Dutch auction. Specifically, this meant that the opening bid started at 3 ETH for a WOWGalaxy NFT, and it would automatically lower every 30 minutes by either 0.3 ETH or sometimes 0.2 ETH. (I’m not sure why that wasn’t always a constant, but it sometimes lowered by differing amounts.)

So, what’s key here is to know that the World of Women OG holders were allowed a free mint of the WOWGalaxy NFTs. And this free mint was well underway by the time the Dutch Auction started…