by Joshua Stoner
1) What goes down must come up. Take a deep breath, the market naturally ebbs and flows over time. Don’t stake your mental health on the market, but instead invest your money and mental peace in projects that you believe in. This way, when floor prices decrease in quality projects, you won’t be as tempted to jump ship because you aren’t in it primarily for it’s flipping power.
2) The name of the game is liquidity. It’s one thing to mint an NFT when it’s taking off, it’s another thing to mint random NFTs in the hopes that one will make you rich. The real magic is having the *liquidity readily available to mint the projects that you truly want to. Having ETH readily loaded into your wallet for purchasing a prize project you discover will put you in a position of advantage. You won’t have to scramble, stress, or second-guess. You can make an informed decision with buying power at hand.
Having ETH readily loaded into your wallet for purchasing a prize project you discover will put you in a position of advantage.
3) Some projects look worse in a declining market short-term, but still do well in the long-term because of future inclines. The market dip will invariably affect the value of NFT projects listed on the primary or secondary markets. Don’t let the current value of a NFT that ‘should’ be worth more deter you from investing-IF you truly believe in the community, founders, or mission of the project. When the market trends upwards in the future, projects will go with it and therefore so will your investment.
4) Prioritize your own mental health. Some of our best decisions are when we take NO action. You won’t soon forget those moments when everyone was panic-selling but you held on and the project went up later and you benefited. Same goes for those times when everyone is hyped about a project that is later revealed as a *rug-pull and you caved and bought in but didn’t. If you’re stressing over the market, turn off notifications. Don’t login to OpenSea for a week. Breathe. Do whatever it takes to calm your own anxiety but don’t go pulling triggers in either direction that you’ll later on regret.
5) Ride out the Winter, so you can rise up with the Spring. If you are feeling down about the current market conditions, the trends you see in NFT projects, or just the general vibes you feel in the space on Twitter, Discord, and beyond, then hold on and have faith. May veterans in this space have ridden this rollercoaster only to find reward on the other side for their patience and endurance. Some *Bear markets have lasted but a few weeks before they began to trend upwards again. No one can predict just how long these things last or if they will return to where they once were, but history rewards those who are patient and open-minded.
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