Algorand NFTs: Portfolio from Scratch
Learn how to create an Algorand NFT portfolio with entry and exit prices.
Yo, gov!
The Club has moved to our own custom website: www.governorsclub.xyz.
Even though we've moved, our content and dedication to being the definitive source to upgrade your Algorand DeFi and NFT game remain unchanged!
We'll keep this substack accessible for a short period of time, but we encourage you to update your bookmarks and links to our new domain as soon as possible to continue your Algorand journey.
Thank you for your continued support, and we look forward to seeing you at the new and improved Club!
Gov Tip: If you’re new to Algorand, make sure to check out our Algorand Beginners Guide to begin your Algorand journey!
When I first started investing in NFTs I thought I could outsmart the market and uncover the “next Goanna”. This led to me losing a decent amount of ALGO because of rug pulls, creator abandonment, and a general lack of demand for the projects I invested in.
Instead of accumulating positions in the projects I identified as established and successful, I got greedy and chased after projects I thought could 10x or even 100x.
This was one of my first real lessons I learned in NFT investing. And I would quickly learn my next four:
Rule of 3: Like many other NFT investors, I’ve found a good rule of thumb is to accumulate three of each project when possible. This allows you to layered out of your investment at each price peak. Pick projects you like and believe in.
Diversification is king: Like any other asset class, diversifying your portfolio helps to mitigate your risk by preventing overexposure to one project. Remember, when one project slumps, another pops.
Patience is key: The higher the entry the price, the longer you’ll likely need to wait to get profits. Set clear exit prices and stick to your plan.
Reflecting on these lessons got me thinking, what if I could “redo” my NFT portfolio with all the knowledge I had now? What projects would I invest in? How much would I invest? What would be my plan to take profits?
In the guide below, I answer all these questions by presenting four portfolio options at the 1,000A, 3,000A, and 5,000A investment levels with ideal entry and exit prices. You can use it, along with our Algorand NFTs: Beginners Guide, to avoid the same mistakes I made with NFT investing
Disclaimer: This isn’t financial advice. This is what I would do if given the option to restart my portfolio from scratch at these various investment levels. I own the projects on this list, but this isn’t a shill. I own them because I believe in them.