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Sometimes you just know that what you are doing is right. It just feels right. But it still requires courage to actually do it. And once you did, you will have second thoughts afterwards. And you may question your decision. But in the end it will turn out to be the right one.
This is what I learned from making 6.5 BCH in one day on SmartBCH.
I found a great project on SmartBCH and I took the leap of faith. I invested into that project.
A lesson I learned from Blake - an investor, a YouTuber and a moderator on the Tropical Finance Telegram group: If you find a good crypto project early on and you invest into it, then this investment will most likely turn out to be amazing.
I found such a project on SmartBCH: Tropical Finance.
It is a DEX (decentralized exchanges) that will focus on developing an innovative NFT marketplace.
The best thing about Tropical is the daily voice chat in which I learned a lot. Not only from Blake, but also from many other investors and BCH supporters. Just a few days ago, I would have never invested into NFTs - especially not such a significant sum - but listening to the participants explain NFTs and their value propositions, I made the decision to buy three NFTs from Tropical Finance for a total of 12.7 BCH. And as I wrote in my previous article, I pretty much went all-in on them.
You may wonder why I wrote in the title of my previous article that I bought NFTs that are worth more than 20 BCH - and now you are reading that I "only" paid 12.7 BCH for them. How can this be?
The reason is that Tropical started selling their NFTs below market value as a promotion. And I noticed that and took advantage of the discount. That's how I "only" spent 12.7 BCH on NFTs that are worth more than 20 BCH.
Nevertheless, these 12.7 BCH were a very significant investment for me. Actually, the amount was so significant that I pretty much ran out of BCH on my SmartBCH wallet. That was the main reason why I decided to list the three NFTs for sale again.
In addition I also did have second thoughts about spending so much money on NFTs, because I was still very new to that topic. Just like I questioned for a couple of years whether crypto would actually hold some kind of value, I started wondering the same about NFTs. In addition to these questions going through my mind, it felt weird having almost no BCH left.
That's why I listed the three NFTs for sale again. I listed two with a slight profit on what I paid for. And I listed the most special NFT that I bought for a decent profit, but still significantly under market value.
Here are the three NFTs that I bought and relisted:
As I wrote in my previous article, the BCH logo background is the most exclusive of any Tropical NFTs. And compared to the asking prices of comparable NFTs, my asking price of 15 BCH was a bargain! The asking prices for comparable devils don't start below 100 BCH and their staking power will be adjusted accordingly.
Here are the other devils with BCH backgrounds which were listed on Oasis while the offer for mine was still active:
Last night while I was sleeping someone noticed my auction and the good deal that it offered for that BCH devil. And they bought it.
This morning I had the chance to chat with the buyer. And he said that he had his eyes on the BCH devils for a while already, but he missed the chance to buy them when they were initially listed by Tropical. In fact the auction for the devil which I bought only ran for one hour. That's why I got it for only 8.5 BCH. When he saw my listing for 15 BCH - which coincidentally was the highest amount that he was willing to spend on a BCH devil - he took that as a sign that it's the right decision to buy it. And I congratulate him. I believe that he made a great decision. Probably a much better decision than I made when I sold it to him. Here is why:
Yes, I made a quick profit of 6.5 BCH (or 6.05 BCH after fees) - which is certainly a great profit for me. As I wrote earlier, I don't even make that much money working full time in my day job in an entire month.
However, just like a cab driver who owns a house in London - which over time became worth several million Dollars, I was sitting on a "gold mine" that I would not be able to afford to buy back once I sold it. Just like the cab driver would not ever be able to buy a house in London again if he decided to sell his house. Selling his house would make him a good profit - it would even make him a multi-millionaire, but it would also price him out of the market. He could not afford to buy his house back - or any other comparable house in London.
The same is true for me. I was priced out of the market for BCH devils the moment I sold it. I would never be able to buy a comparable BCH devil back. And considering that, I sold my BCH devil too cheap. The moment the buyer bought it, it's value was already north of 20 BCH - and he may sell it for 25 BCH, the next buyer may sell it for 50 BCH - and who knows what level these Tropical NFTs will reach in a couple of months. We are still super early in SmartBCH - and especially in Tropical. And unfortunately, I am most likely not ever going to own a BCH devil again.
That being said, I am still quite happy with how it all went. It was fun owning one BCH devil for one day. And I still own the other two NFTs. And I used some of the profits from the BCH devil sale to buy another Tropical NFT.
How do you like my new Tropical Ape?
I love the cowboy hat, the background - and even its number 369. 😍
To sum up: I am super happy to now be a part of the history of Tropical Finance on SmartBCH. My sale of the BCH devil was the first in which an NFT trader made a significant profit by buying and selling a Tropical NFT. And it proved that there is a market for these NFTs. I believe the Tropical NFTs will take off from here onwards. Especially once the NFT marketplace will open up.