KOGS - Unboxing & Flipping NFT Packs for Profit
I was introduced to KOGS NFT trading cards and immediately thought to myself, buying them now while they are new and selling them later should be profitable, right?
“Every passion borders on the chaotic, but the collector’s passion borders on the chaos of memories.” ― Walter Benjamin
It seems that is true. KOGS stands for Keys to Other Games, and they are a new collection of NFTs on the WAX platform. I have been able to continuously sell my less rare KOG NFTs by updating to the lowest market price for each NFT a few times a day. However, you’re probably wondering what KOGS are; they are NFT trading cards similar to something you would see like Pokemon in tangible or real, everyday trading cards. However, these are digital NFTs, and the ultra rares that haven’t sold yet are worth quite a bit; I landed myself some excellent low mint foils for some lucrative sales.
If I am being honest, I love abstract art, and I do not particularly care about the art with KOGS; although I’ve seen some good work with these, no doubt there, I bought them as an experiment for profits, and so far, I haven’t been disappointed. I am getting roughly 1.5 to 2 packs worth of WAX for each pack I unbox, which run 8$ USD in WAXP each, or around 30 WAX depending on current prices. That is a 150% to 200% turn-around in a short period of time, under a week. You buy them, unbox them, and list them for sale. The competition will continue to grow.
You will want to make sure you’re buying them directly from this link at the source and not getting hit for resales!
You can get information about KOGS directly from their website, kogs.gg. Due to low sales volume, you have to stay competitive with updating prices in order to keep up with consistent sales. Additionally, you are looking at a longer waiting period on higher spending items, but those items will increase in demand over time as people require them for their collections; it’s pretty easy to score an ultra-rare foil with just a few packs, sometimes multiple.
My best foil lists for 1000 WAX, but I have a buddy who collects these NFTs enthusiastically, and he has some that list for much higher. These prices are anticipated to rise as WAX increases in mid-market price, so we have that to look forward to. It strikes me as a legitimate investment just to buy the packs themselves and not even open them and wait until the drop ends in the near future; people already resell them at a profit scandalously.
The biggest surprise is the sales amount; I have now sold 3,822.32 WAX, which is currently worth $1,060.69 USD. This sales amount represents my first month into the “Getting involved with NFTs” process. A large amount of this was from covers, but it is quickly getting sized up by KOGS sales which I am glad helps generate transaction volume for the Worldwide Asset eXchange (WAX). I have noticed sales decrease in pace, but I’ve also sold a couple of rarer items that made up for it. In short, as long as you stay competitive, they keep selling, and so far not at a loss.
I recommend if you are interested that you get in on these while they are still dropping and are cheap to obtain, especially if you plan to actually collect some. I don’t endorse the brand or anything, but they seem like they will have real longevity as popular and lucrative collector’s items in the NFT space. Regardless, from a potential investor’s perspective, they are a win! You can view my sales history here. For some additional information on KOGS, here is a recent article by my fellow Cryptowriter, Trever Russell.
As always, comments, suggestions, and friendly debates are highly encouraged.
Stay smart & Stay safe.
-Thomas Wolf
Pronouns: He/Him/His
Sources:
https://kogs.atomichub.io/drops/kogs
https://www.voice.com/post/@thomaswolf/kogs-unboxing-flipping-nft-packs-for-profit-1617030749-919131266
DISCLAIMER I am not a certified financial, tax, or legal advisor, analyst, or planner. The above information should not be considered advice but as an opinion intended to share information and ideas for entertainment and independent research purposes. Cryptowriter and its writers are not responsible for any losses or damages incurred as a result of misinterpreting personal opinions for professional advice.
*This post was originally published for Cryptowriter in association with Voice.com*
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