Investing PUNKs Is One Of The Best Things I've Ever Done In SmartBCH
Last night, I finally got the courage to check my smartBCH assets after 3 long months of not being able to monitor them. As expected, due to the market crash, the majority of my assets are still in bloody red; even my AxieBCH and GAME are struggling too.
Luckily for me, I was so blessed to received 10,000 GAME for free from Gramps, the creator of the both AxieBCH and GAME tokens, while I was still a part of their AxieBCH scholarship. So despite its price drops, my GAME holding is still safe (for now).
Unfortunately, that's not the case for my other investments like DAIQUIRI, PDA, and a few others. Though my AxieBCH is just slightly down, the rest are currently in terrible positions. Despite that, there's one token that will probably save me from getting totally broke in smartBCH, and that's my LawPunks.
LawPunks was the very first NFT I minted in smartBCH. I initially had no plans to invest in this NFT but after seeing how some of the club members eagerly wanted to mint, I then decided to join the hype as well.
During the launch, the floor price for 1 PUNK was only 0.01 BCH. That was so freaking cheap! It was actually way, way cheaper than those creepy Pandas of Pandaland. Too bad, though, I wasn't able to mint more coz my internet was so unstable at that time and only started minting when it was almost over.
As soon as these PUNKs were already stakeable, I then staked mine right away to receive LAW. After reaching around 100 LAW for the first time, I harvested them and used them to buy more GAME. Then I stopped spending any after that. Fast forward, and I currently hold 532 LAW, which was equivalent to 1.34 BCH at last night's value.
With 0.05 BCH capital for 5 PUNKs, the possibility of getting a huge profit from selling LAW could help me cut off some of my losses from my other investments. Though it's not yet considered a profit since I haven't sold them yet, the fact that they managed to survive even after this crash was already a good indication for me. Also, the floor price for PUNK is now worth 2.4 BCH. Dang!! Imagine if I sell my PUNKS for 3 BCH each.
My question now is, should I sell my LAW or not? If not, when should I sell them? As I have said, the last time I checked, 1 LAW was worth $0.36. Should I wait for a little pump, though, or should I secure my profit now to help recover my losses? Let me know your thoughts though.
Wow! That truly sounds like a really good deal that you have invested into this one. I am never really an NFT investor freak as I am not good in trading, while I preferred utility NFTs are Defi Kingdom's HEROs. But I think if you are keeping this up you might be able to gain a lot more BCH in volume and then short them when the market is better for your living expenses (when you need to)