A short thread on why current metrics such as # unique holders is not good enough for investing on NFT projects, and what can you do instead.
Suppose as the creator of a 10k NFT project, you want to increase your sales, # unique owners, etc. in order to rise in rankings
Now suppose you want to invest in either @FatalesNFT or @GoonsNft. Their statistics are pretty similar in OpenSea but their holders activity level are drastically different. Now you have another metric to decide with it π
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A short thread on why current metrics such as # unique holders is not good enough for investing on NFT projects, and what can you do instead.
Suppose as the creator of a 10k NFT project, you want to increase your sales, # unique owners, etc. in order to rise in rankings
Of course all NFT projects can have token holders with similar patterns, but when the majority of holders are like this, you should be very cautious about buying an NFT from the collection β οΈ
@digitalartchick This means Goons owners haven't done anything but buying some Goons which makes it probable that they are trying to increase their metrics artificially. Here are some examples of accounts that ONLY own Goons:
https://t.co/c8QpkiWA30
https://t.co/JZt3uELRIm
https://t.co/ev2ootPwq4
@digitalartchick Unique holders can be cheated so easily. Here is an example:
Fatales have similar metrics to the Goons of Balatroon project. The median of transaction count for Fatales owners is 122 but for Goons it's 28.
acsquared.eth (@AngelClarkSays) also holds NFTs from 43 of the top 100 NFT projects. She owns 176 different tokens from the top 100 in her main account:
https://t.co/KuQc9tb9lx