It wasn't exhaustive, but it was the perfect bite sized chunk to get me started. Any other people here exploring this? I'd love to hear what you're doing. I've spent pretty much every free moment of the last 3 days researching NFTs and alt coins. Just getting US dollars from a regular bank account into a wallet, onto the network you want, and in the type of coin you want is a job in itself.
By the way, if you just want to buy and hold the major coins as an investment, you might be able to do that easily through your bank if they offer an investing platform. But if you want to move the coins to a different wallet and make purchases, you need something like Coinbase or Binance or Kraken.
About the chicken game Polyfarm, you're betting on a number of things: your luck in the game, how popular the game becomes, and the future of the EGG coin. It's a lot to consider while I wait for Coinbase to transfer the ETH I bought (seriously, Coinbase has problems. I should've gone with Kraken). You can also stake your EGG coins for crazy high interest, but the crazy rate makes me wonder if there's any faith in the currency.
What I'm really wondering is how to find games like Polyfarm or Wolf Game when they first launch. Is there a list or a discord out there?
The games look fun, but also buying and staking smaller alt coins looks profitable.
I bought BTC and MATIC to hold, and also $200 worth of POLY (a gamble). If you're looking for alt coins to research, look into POLY. It's the coin for the Polymath platform - they tokenize securities.
I would also like to know how you find out about a game like this at launch to be able to get in on the free mint! Thanks to Greg's joint session, I at least got into Polyfarm during the minting phase, but it wasn't free. I went ahead and purchased a hen from OpenSea as well, just to see how that process works. I probably spent too much on it, but it was a learning experience. I want to buy a fox, but they are like $500/ea and up, so I'm holding off to see what season 2 brings. I'm hoping to buy some farmland today...fingers crossed it doesn't all sell out in 60 seconds again!
I think you just need to be connected to other people in the know. I joined the official discord for Polyfarm and saw some chatter for Troll Game ( https://trollgame.io/ ) - so I went and checked it out and it just launched as well. Similar concept, but with dwarves mining $BERYL and Trolls that steal the $BERYL. It's still in minting phase and is pretty cheap. I spent like $350 to mint 3 times and got 3 dwarves - no trolls. But that was just last night and in 12 hours, my 3 dwarves have already mined almost 75 BERYL.
Now, I'm in the discord for Troll Game as well as another one for general Polygon NFT talk so I'm hopeful that I will hear about other projects from other discord users talking about them.
Also, here's some helpful info about getting your crypto on the polygon chain and into your metamask to be able to participate in these kinds of things.
First, if you have ETH or MATIC on the ERC20 chain and in your MetaMask wallet, you can use the Polygon bridge and hope that the gas fees are low - which in my experience, every time I would check, it was going to cost me MORE in gas fees than I was trying to send...OR, you can use the Umbria Narnia Bridge which is much, much cheaper - I don't know how/why.
https://bridge.umbria.network/bridge/ethereum-polygon/eth - One thing to mention: their Terms and Conditions say their service is not for US residents...but it still works. I've used it twice now and have had no problems. But, it does make me nervous that they say that...
Second, if you don't want to have to bridge, use KuCoin. I followed this article and it worked great, although it's a bit of a process. I already had a Coinbase and a KuCoin account - if you don't it may take some time for getting KYC approval and all the account setup fully to be able to trade. https://medium.com/@CryptoCruisers/metamask-nft-guide-how-to-buy-matic-for-the-polygon-network-with-no-gas-fees-1236f653ed1e
Anyway, good luck!
Official PolyFarm Discord: https://discord.com/channels/906253007350558750/918625558844289024
Official TrollGame Discord: https://discord.com/channels/915544060431851570/916796267869405345
PolyTalk Discord: https://discord.com/channels/911807151876472902/911954711056363581
Thanks for the tips and the links, it's much appreciated!
I ended up passing on Polyfarm. I'm okay with the risks of the game, and I think it would have been great to get in on that early, but holding the $EGG coin would make me too nervous. Plus, what I've read about Goose Finance (issuer of the coin) makes me even more nervous. I'll definitely look into troll game and $BERYL. Looks like it's still a good time to get in.
There's a game called My Neighbor Alice that's still in pre-release. I'll probably enter the lottery for a plot of land. Basically, you stake 50 $ALICE coins ($570 USD right now) and instead of getting actual interest, you get lottery tickets. If you win, the $ALICE you staked is used to buy the land. Yes, that seems like a raw deal, but on the upside, $ALICE seems like a safe coin to hold and I think the game itself has promise. The game is meant to be mainstream, distributed on Steam as a free to play game.
There's also Metroverse which will mint in the next day or so. It looks great, but the team behind it is anonymous, so there's that. Still, I will try to mint a block (just one) if I'm able to.
Staking coins on Pancake swap looks like a good way to go, but I haven't started doing that yet.
And good luck with all of this to you too!
Hey thanks for sharing, I've also been hooked by Greg's info, and have been trying out basic things on different tools to learn by stumbling through it and figuring out where the fees show up, and piecing together a strategy for different risk tolerances.
I found this list of launches, which may help give viz to early phase projects. https://www.apeoclock.com/
I've also been looking into non-game staking: https://www.okcoin.com/earn
Also, a different approach, I signed up for the BlockFi card (an advertiser on AltCoin Daily) so I can earn 1.5% BTC on every dollar I spend on the credit card (and 3.5% for the first 3 months).
And while I was there I found this list of high yield returns on stable coins (9% APY on USDC, DAI, DUSD, etc) https://blockfi.com/rates/
I honestly think that NFT's are a scam. If you get in early and can make some money and get out, then great. But I think this is a cash grab by a lot of people using The Greater Fool theory to their advantage. There is far too much hype and the dollar amounts of some of this stuff are too crazy for something that is technically able to be produced without limit. They are making you feel as if there is a limit and as if it is valuable, but in reality, at the rate they are cranking these things out to get people hyped, that clearly isn't true. I would never tell anyone what they can or cannot do with their money, but for me, this is a hard pass simply because it is so volitile.
Props to anyone who gets in, gets rich, and gets out. I will watch from the side though and cheer you on as it is just not a gamble I am willing to take.
Thanks for the links. okcoin looks good. You might want to look at PancakeSwap for staking.
Like you, I'm testing things slowly now. I bought ETH at a peak and watched it drop. 😱 That sobered me up pretty fast. Thankfully, I only purchased a small amount to experiment with. It hasn't even been 2 months since I started looking into this and already it's been such a wild ride.
I've been looking into crypto ETFs lately, though I haven't decided which ones I really like.
I honestly think that NFT's are a scam. If you get in early and can make some money and get out, then great. But I think this is a cash grab by a lot of people using The Greater Fool theory to their advantage. There is far too much hype and the dollar amounts of some of this stuff are too crazy for something that is technically able to be produced without limit. They are making you feel as if there is a limit and as if it is valuable, but in reality, at the rate they are cranking these things out to get people hyped, that clearly isn't true. I would never tell anyone what they can or cannot do with their money, but for me, this is a hard pass simply because it is so volitile.
Props to anyone who gets in, gets rich, and gets out. I will watch from the side though and cheer you on as it is just not a gamble I am willing to take.
I agree with all of this, only add a large quantity of money laundering into the mix.
I understand NFTs that are connected to a game - if the game becomes hugely popular, your digital assets gain value and there's a large pool of players who'll buy your asset. What I don't understand are NFTs connected to nothing. It seems outrageous that people believe an image turned into an NFT has intrinsic value due to its uniqueness and that it will retain value for any length of time.
