Summary of my investment Journey in Reddit avatars in last 17 months.

Reddit avatars were released in July 2022 gathering a niche following initially but took off when gen 1 sold out . With the sell out of Gen 1 release the value of avatars soared with floor prices sometimes of few avatars doing a 50x.

Here is my journey or my INVESTMENT???? into Reddit NFTS And my few key takeaways.

THIS POST IS NOT FOR PEOPLE WHO ENJOYING LOOKING AT THEIR PROFILE PICTURE WHICH OCCUPY LESS THAN 2% OF YOUR MOBILE SCREEN.

As the financial year is ending I wanted to calculate how much profit/ loss I made in this FOMO journey. I dreaded the worst but surprisingly thanks to few decent flips and selling 69,420 mints I was able to come onto the top with a megre 800$ profit.

Money invested in Reddit avatars is approximately 5600 (playstore) plus approximately 4000 (liquidated Eth to buy avatars). Total investment around 10000 in 17 months.

BIGGEST WINNER

The biggest winner in this would be Reddit who earns 20% of all sales in Reddit avatar store. I personally contributed 1118$ (20% of Mint prices) to Reddit and 2795$ to artist (50% of Mint Price)

https://preview.redd.it/o886anei74nc1.jpg?724&format=pjpg&auto=webp&s=4a2146d6bfd02f0df5d2058958a45de6885489d5

BIGGEST LOSER

1. Me buying 4000$ of Rojom Sun & Moon (8 quantity) and selling each for less than 40$.
2. Wasting 100s of hours on Avatar subReddit reading nonsense on how profile pics have UTILITY.

WHAT IF I PURCHASED ETHEREUM INSTEAD OF REDDIT AVATARS

Here is what I would have earned if I purchased Ethereum instead of buying Reddit avatars and holding onto this day. Value of my holdings would be equal to 20,368$ a profit of more than 10,000 dollars compared to the 800$ I have currently.

INFACT I WOULD BE BETTER LETTING THIS MONEY ROT IN MY BANK ACCOUNT EARNING INTEREST IN FIXED DEPOSIT FOR 17 MONTHS

​

Spent in playstore also includes Eth liquidated to buy avatars. Too lazy to correct in the graphic.

RED FLAGS I NOTICED BUT I WAS AFRAID TO ADMIT

1. Flippers like Daniel Negreaneu leaving before Gen 3 release.
2. Collectors going radio silent and not buying any avatars.
3. Some collectors exiting completely when artist releases were announced.
4. People being downvoted into oblivion if negative discussion is had.

RED FLAG I DID NOTICE

1. Drying Liquidity of less than 0.5ETH per day in the month of september and the guy who commented on this was downvoted to oblivion.

This started my Liquidity journey starting in the month of August. Notice the number of sells exceeding in October.

MAY and JUNE months I spent wishing why I didn’t sell my NFTS’s

https://preview.redd.it/l3w27ljkf4nc1.jpg?724&format=pjpg&auto=webp&s=9ff1dd9f72fd303b3cd6e03fd738291f3f50bf94

​

https://preview.redd.it/j5w3f9bgf4nc1.jpg?936&format=pjpg&auto=webp&s=2add3e1244b5e3fef60485efcaff8808052e521d

KEY TAKEAWAYS

1. Reddit violated the golden rule of NFTS’s. The higher the number the less desirable it is to masses. Speculation decreases followed by engagement.
2. The only winner is Reddit.
3. Have an exit plan ready For any project you invest in. Don’t be the guy who says DIAMOND HANDS AND CRY LATER.
4. Exit at early signs whenever the price of your speculative asset falls below the mint price.
5. Exit when massive dilution happens. You are the exit liquidity except you are bad liquidity.
6. When you notice the four same guys circle jerking you know shit is bad.
7. The only reason I am in profit is because of the Gen4 10$ bug on android And buyers of Nice mints and some decent flipping.
8. Be an artist rather than the buyer.

If you still think investing in Reddit avatars will make you or Gen 1 will appreciate in value look at this

• 400 avatars were released in approximately 100 days at an average of 4 per day. That’s a dilution of 0.04 % on total releases. In the last 3 months almost 30% of avatars were released.

https://preview.redd.it/bpq23i0mh4nc1.jpg?780&format=pjpg&auto=webp&s=bbd231eea2ceed53d19550499843550c798a9a2f

TLDR: I spent money on Reddit avatars, went in losses and and thanks to Gen4 android bug I was able to claw back to profits. I would have earned more if I left it in my bank account. Wasted 17 months for 800$ profits.

​