Turned my HoodMiners from a free mint into an army of rigs! I was fortuned enough to get two mints from Nucleus and got in!
I somehow went to building what is starting to look like a small industrial mining operation. Not exactly the business plan I had in mind, but here we are.
I first got involved with HoodMiners through Nucleus, where my reputation rank earned me two guaranteed mints.
The interesting part about the Nucleus reputation system was that it rewarded existing onchain activity rather than simply forcing everyone to spam content during the campaign.
Naturally, getting two free mints wasn't enough for me. Before the reveal, I bought a few more because I wanted to see what the collection would look like once the traits were exposed.
And let's just say... I got some bangers. Each rig is an NFT with its own wallet on Robinhood Chain. Once activated, it can start accumulating Bitcoin rewards!
The earnings tied to the rig itself. If you sell the rig, whatever it has accumulated goes with it... unless is claimed already to your own wallet!
The reveal turned into a proper little trading game for me. I jumped onto the app pretty quickly and started moving things around.
The common rigs weren't particularly interesting to me, so I sold those and started buying batches around the floor.
The main thing I was looking for? Multipliers. HoodMiners has nine rarity levels, ranging from Common at 1.00x all the way up to Cosmic at 4.50x.
Those multipliers determine a rig's share of the reward pool, so suddenly rarity isn't just about bragging rights or having a prettier NFT. It has an economic function.
Good shopping spree and one ultra rare rig added to my NFT vault! Once activated and upgraded it went to 10x multiplier!
My strategy became pretty simple. Sell the 1x rigs and buy more rigs around the floor. Keep the ones with useful multipliers... then rinse and repeat.
Did I make some glorious profit flipping the collection? No. Did I somehow end up with an army of rigs? Absolutely.
The funny part is that the flipping itself didn't really produce the result I was chasing. Instead I made a better starting point!
I moved through plenty of NFTs, bought floor batches, sold commons and consolidated into rigs I actually wanted to keep.
But the real kicker was the first week of rewards. It went higher and higher and claimed around $90 in BTC for just holding the rigs!
Activating a rig requires burning 20,000 $MINR, so there is an actual cost attached to putting these machines to work. I waited!
Didn't bought the token when it went live! This is where I have to do the painfully honest PVM accounting. I bought the dip!
I've spent roughly $100 on $MINR, so I'm still chasing the full ROI for a week or two! I'm still in the trenches!
The $90 in BTC is a nice start, but I'm not going to pretend I've suddenly cracked the Matrix and retired to a tropical island.
Then came the mini jackpot! Got an Epic NFT at floor price with a beautiful Robin Hood green background as a bonus!
On paper, that sounds pretty damn good. Epic rarity and one of those rare background that looks absolutely sick.
There was just one problem. The rig had 1x multiplier. Was not profitable to activate it just for the cosmetic appearance!
The market gave me a chance to turn a $5.80 purchase into $40, and I wasn't going to get greedy. I sold it!
Sometimes you don't need to marry the JPEG. Sometimes you just need to shake hands, take the difference and walk away.
So that's where I'm at with HoodMiners. I didn't make some spectacular profit from flipping the collection.
I've spent money on $MINR and I'm still working toward ROI. Two free mints and 13 at floor price, spending about $72 on them!
Lost about $10 while flipping, then got $44 in profit so that adds up to the $90 in Bitcoin from the first epoch of mining!
Total spent on rigs plus $MINR tokens at $172 and gains so far at $132! The NFTs are holding some value and keep mining $BTC each week!
Honestly? That's considerably more interesting than simply having another NFT sitting in my wallet. Now I just need these little machines to keep working.
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