NEW USER STRATEGY
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DEFINE YOUR GOALS
Like anything in life the most important thing to do is to define your goals. If you do not define your goals then you are doomed to fail. Imagine that you are building a boat but you are not using any plans. You get the frame built and are ready to set sail but when it hits the water there are multiple leaks. As the ship goes down you are left with regret, left wondering what could have been if you had followed a plan. The same goes for investing, and believe it or not this is an investment.
Before you start, set out a set of goals and timelines you would like to meet. You should have set goals and fluid goals that can be updated depending on the market. Some set goal ideas could include the following:
Total number of collectibles/comics you would like to purchase in the first month/year
Total vault value you want to achieve in a set amount of time.
Key pieces that you want to collect.
Some fluid ideas could be:
Setting gems aside for future drops
Projected selling point of collectibles
It is important to set the right goals as some are more important than others. Collection value is more important than sets to some collectors. Define what goals are more important to you.
WHERE SHOULD I START?
Before we can answer this you must first understand the ranking system of Veves' digital collections. You can look at the rank as a tier, and within Veve you have multiple tiers. The highest tier would be a blue chip or tier A all the way down to Tier F.
Where to start will be different for everyone based on what goals you have set and the funds you have available to start. If you have the funds available then it may be a good idea to target the blue chips or higher tier items. If you do not have the funds for the highest tiers then a good starting point may be to purchase some lower mint mid range tier items and look to flip them when the market is up. It is really up to you as to what you want to collect and what you feel comfortable inventing initially.
ARE YOU COLLECTING AS A COLLECTOR OR FOR THE MONEY?
This is important to know as it may heavily affect your strategy. If you are a collector then it may set you on the same path that you are already accustomed to in the world of collecting. You are more likely to collect items that are important to you or you may try to add items in your digital collection that you already hold in your physical collection. Collectors are more likely to pay more to obtain a key piece of a collection rather than play it safe.
If you are coming into Veve never having collected anything and you're looking to make money then your strategy will be different. You are more likely to look at market trends and have no issue purchasing an item just to flip it for profit. In this case you would probably want to look at trending items and try and stack some lower mint items to sell when there is a market pump. Even in this case there are going to be some items that you target that are "Never Sell" items. Every collector will have these and it will vary for everyone.
DIVERSIFY OR STACK?
Now that you have some thought on what your plan of attack may be, it is time to think about how you are going to build your collection. You have some options when it comes to building your collection and we can highlight the pros and cons of each.
You may choose to diversify your collection and try to collect multiple different pieces. This is good for variety and also for Master Collector Points put out by Veve. This option will allow you to complete sets and have a well rounded collection. An issue you may run into is if one item in the collection takes off and you only have one of them then you may not be taking full advantage of the profit margin.
You may choose to stack multiples of the same piece based on their popularity or profit margins. After drop you could have purchased 50 editions of ASM #1 for 8-10 gems. Looking at the current market, the value of this comic is now 150 gems, making your value on 50 editions 7500 gems or 1400% profit. If you would have invested 2000 gems in August and purchased those 50 ASM # 1, 50 FF # 1, 50 MC # 1 and 50 UF # 4 you would be looking at a gem Total of 36,000 or 1700% profit. The issue with this style would be the limited amount of MCP potential as the total amount of points goes down with every duplicate item you have. The other issue is if you miss on a collectible and stack 50 of an item that actually goes down in value then you would lose a percentage of your investment.
The ideal option would be to do a combination of both. This will allow you to diversify your collection, maximize your MCP potential and stack what matters.
WHY DO MARKET TRENDS MATTER?
Reading the market is vital in any type of investment and Veve is no different. It is important to know where the market is situated prior to purchasing or selling an item to ensure that you are doing either at the best possible time. You can track the market yourself or you can use one of the community made analytics programs, I choose the latter.
One of the best vault value and market trend trackers is Ecomi Wiki. This program was produced by a member of the Veve community, Omi the Clown, and is very well made. This program is free to use to track your vault value but there is a small cost to track market trends. I would highly suggest using this program to identify the value of your collection and track the markets.
In conclusion, if you have decided to invest in Veve then you have made an amazing decision in the right direction. There are many opportunities with premium licensed NFTs put out by a top notch company. The strategy that you choose to go with is up to you. You can always modify your strategies and the community is always here to provide advice. All you need to do now is decide what you want to purchase first, good luck.
"All information provided in this blog post is intended to provide the writer’s opinion. No information should be considered financial advice."
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