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How famous influencer @CirrusNFT retired with NFTs and made money
Cirrus explained the trading strategy that allowed him to quit his job.
“At first, I traded most NFTs. Starting with a very small ETH balance, I essentially exploited the NFT spread to scale up to a large size.”
“Back then, most people chased newly emerging collections, bought in bulk, and bet on price increases. But I only exploited the large spreads that already existed in the NFT market. At the time, OpenSea was essentially the only marketplace.”
“The buy-sell price difference was about 10%, and on top of that I had to pay a 5% royalty. So I bought on OpenSea at the bid price, then went into the project’s Discord and sold OTC at a 15% premium. I repeated this kind of trade dozens of times a day.”
“So the capital compounded quickly, and in the end I quit my job and went full-time into crypto.”
It seemed like he managed to compound 15% on every trade by creating a structure where even if he re-sold NFTs at the floor price by saving the 5% OpenSea royalty and using the 10% buy-sell price spread difference, he would inevitably make a profit.
It seems he created enormous wealth from just a slightly different way of looking at the market.
He started with a small amount of ETH, but now he’s become an extremely wealthy person + an influencer.