Sirwin
Sirwin

Top 3 WAX Collections to Trade

By RadicalCore | radical-core | 11 Aug 2023


The NFT market has undergone significant changes recently, especially on WAX where trading volume has declined. However, some opportunities remain for modest profits if you trade carefully.

While major profits generally come from trading blue-chip NFTs like CryptoPunks on platforms like Opensea, more affordable collections on WAX can still generate returns. By regularly watching certain collections, you can spot good buy low/sell high opportunities to make a few extra dollars.

Of course, as with any trading, caution is warranted. The NFT markets are volatile and unpredictable. To get started on WAX:

  • Spend only what you're willing to lose as you learn the market
  • Focus on affordable NFT collections with regular trading volume, then you can gradually buy a few higher priced NFTs as trial runs
  • Three collections to watch include Funko, Alien Worlds and Wombat
  • Note trading patterns and optimal buy/sell levels for these collections

Practice patience and learn from experience. While massive gains are rare on WAX nowadays, modest profits can come through disciplined trading. Follow the market closely and capitalize on the remaining opportunities.

 

1. Funko

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Funko is a reliable and high volume collection we have traded for about a year through a very nasty bear market. Of course, we have taken losses on Funko's as well. Mainly, we do not recommend buying non-animated Funko NFTs.

People seem to gravitate toward Rare or Better that have animations (CGI renderings that have flashy visuals). The static NFTs perform rather poorly.

Secondly, coin or token Funko NFTs with CGI spinning tokens seem to sell really well. For this reason, we generally pick up token NFTs that have spinning coin visuals of other collections as well. They just sell. 

  • Funkos with animations sell better. Animated, motion graphics CGI renderings. The static NFTs perform rather poorly.
  • Rares and Better perform best.
  • Coins / Token NFTs

 

2. Alien Worlds

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Alien Worlds appears to be a mainstay of WAX, for now anyway.

As the poster child of crypto games, it's TLM payouts for mining planets isn't the only thing it has going for it. Alien Worlds appears to have many, many bot traders operating on its assets. As such, we encourage you to capitalize on the fluctuations of tool prices that come as a result of bots trading amongst themselves. You may see days when a Standard Shovel goes berserk. It's these crazy events that can make you a cool $30 for buying a $0.10 NFT and listing it at an absurd price.

  • It appears to have many bot traders operating on its assets, leading to fluctuations in tool prices. Capitalize on this by buying low and selling high.
  • Tools are a forward looking trade
  • Planets are a possible future looking trade - but buyer beware, land NFTs are struggling and TLM payouts aren't worth it in short term

 

3. Wombat

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Wombat arrived from EOS, but is apparently alive and well on WAX. This is a blockchain game we've never played but based on trade volume appears to attract human and bot traders. For this reason, it's worth looking at commodity NFTs - that is, items used frequently within the game that are relatively commonplace. Buying them at lows and listing a bunch of them using NFTHive might be the ticket for you.

 

Strategies

  • Use bulk buy and sell tools on NFTHive to efficiently trade WAX NFTs. 
  • Try combing through ChainChamps for signals
  • Build AI tools to regularly observe and scalp collections you've made money on before. This removes some of the tedious manual work.
  • Practice caution and don't overbuy
  • Buy cautiously up to a max limit for yourself - we judged this to be 5 NFTs so that we don't get hit with a major loss
  • Look for underpriced rares on high volume collections with regular hits.

 

Conclusion

With the right collections and strategies, it's possible to slowly grow your WAX balance during a bear market. Focus on efficiency and capitalizing on bot trader fluctuations.

Lastly, remember that sales volumes on the above collections may be completely different by the time you read this, so take note of how well the collection is doing on the day you trade.

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RadicalCore
RadicalCore

RadicalCore explores advancements in technology, like artificial intelligence, cryptocurrency, blockchain gaming, non-fungible tokens (NFTs), new media, and software news.


radical-core
radical-core

RadicalCore explores advancements in technology, like artificial intelligence, cryptocurrency, blockchain gaming, non-fungible tokens (NFTs), new media, and software news.

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