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Welcome, Degens, to Solana Summer. Where you will mint a rug, FOMO into a project you faded until the absolute pico-top, and with 100% certainty watch the underlying asset your jpeg is on fall 85%.
On a serious note, as the market is shifting, making 100x on degen flips is not as common in the NFT space anymore. Without sucking liquidity from newbies, driving value is what we’re seeing the meta shift to. The common phrase “BuildooooOOOOrs” applies to those projects giving back rather than taking away.
Tools ultimately give projects utility for holding, as opposed to simply being artwork, which is subjective in many cases. The utility is also more or less what drives the value as well, as holders get more value from the utility their holding brings, pop goes the floor price!
Here’s a top down view of the tools the pro’s use as well as others you should keep on your radar:
SOLSNIPER.XYZ
Any trader out there who understands Technical Analysis uses some sort of charting platform to assess whether they want to invest in a coin/project based on historical price data. While we can’t predict anything that will happen with a chart, we can gather trends and data points to give us the best chance of a guesstimate.
What SolSniper has going for it is the ability to track projects price action, Relative Strength, and Listing Count. These are very similar to TradingView, which chartists subscribe to.
Other cool features come when you log in and connect a phantom wallet. These include creating a watchlist, live listing, delisting and buy/sell action, as well as portfolio tracking right at your fingertips.
The edge that SolSniper gives traders is understanding chart patterns and price action, buzzwords like supply squeeze and trend analysis can factor into the mental game that NFT’s create. Charting like this is not for the faint of heart, so make sure you know what you’re doing.
A good example, could then be:
Smart Sea Society
Trends, Floor Price predictors and whale trackers. How can you fade that? Seemingly every tool that an NFT trader needs to print money is on this new site. Sign me up! Spoiler: I actually just went and bought one.
For those who might not have the technical experience of charting, a great alternative option could be to use an AI driven platform like SSS:
This site brings some cutting edge technology to the ecosystem and by owning one of these fishies, you get access to this wealth of information. Powered by millions of data points across the ecosystem, they’ve created an alert tool that has seemed to have a great win rate thus far. This can help encourage a decision based on some patterns that the AI bot is triggered by, similar to a trader who uses SolSniper charts, for example.
Pulling info straight from the blockchain in a very aesthetically pleasing format gives investors a clean website where they can lose money quicker with. Gambling never felt so good! Lol, just kidding... 👀
Thursday morning for example, a notification of a 4% decrease in listings revealed a supply shock on Meekolony, just before it ran from 2.2 SOL to 6 SOL. If you had been using this platform and received the alert, you could have made a 100% to 200% move, which is extremely valuable in itself and prevents you from having to sit and stare at charts all day.
This system is so new, that I would definitely keep an eye out as it becomes more adopted. AI is ever increasing in the trading world both legacy markets and crypto. The risk I see is that too many eyes on the same projects can affect the gainz. Where this tool comes into importance is spotting new trends before they happen. Projects as they are on the rise or projects that people might have forgotten about that this tool can keep on your radar without much effort from you.
Monkey Baby Business
Starting out as a Solana Monkey Business derivative, this team has procured apps that have been mentioned by HGE and The Solstice as well as other big players in the space. Whether that gives credence to their effectiveness is one thing, but it goes to show that a good tool can be appreciated in the space and not just degen plays. With Monkey Baby Business at a 53 SOL floor, it is hard to gain an accurate personal picture of the suite, but notable tools include:
Killshot.ai
One of their sniping tools, Killshot.ai has a really cool “comp-based appraisal” feature, similar to nearby home sales, that gives you a fair market value for attributes of the NFT you are looking at, from all the different marketplaces at once.They have a “special ops” mode that analyzes your wallet, and gives you potential profits based on market values as well as finds good buys across the market. It’s no wonder why this project has done well.
Soller.ai
Monkey Baby Business has an ownership range, where in order to access different tiers of data you must first own 1, 5+ and 15+ of their monkey baby business NFTs. In today's pricing, that's as much as 750 SOL.
These babies mean business. If you are also serious about trading, I would keep an eye on these as well, because future uses of them could expand. The builder meta is more important to the space than we can conceptualize today.
Scalp-Empire
A suite of tools similar to those mentioned above, with a much more affordable floor price: ~9 SOL. With this, you can have access to a sniping bot, rarity rankings and floor data very similar to Smart Sea Society.
Owning a Nestor edition NFT gets you access of the platform. There is even a walkthrough on github of how to use the tools, which I found very helpful and encouraging to buy, as I know exactly how to use it without any pitfalls or learning curves.
Above is the scalping tool with ranking by trait. Each trait is ranked and matched according to what traits you select, and also give a “Buy Big” section that shows the most expensive of FP and traits to help see what those are going for. As a tool this is similar to the comp feature that helps you keep an eye out for what whales will pay for.
Auto setting the snipe can help you achieve those specific ranks, for your desired price, and linking it to Slope or even Phantom on “auto-buy” can give you an edge on a rare accidentally listed low or undervalued.
Finalmente
It seems that a traditional saying, "invest in what you know," comes into play well here.
These tools can be advantageous for traders who know what they’re doing, and smoke and mirrors for others. These all come with pros and cons, so be mindful of the tools you use and why you use them. As a new trader your goal is to minimize losses and maximize gain. If you invest into a project because of the tools it provides and you don’t know how to use the tools, that’s a little counterintuitive.
Learning these tools and how they can help your trading is so important for learning how to be a better degen.
Good luck out there in the wild wild garden of magic eden.