PLAY IS NOW OUTDATED & INVALID
Secondary Market Play:
Despite the constant delays, BONKz floor price has shown considerable strength. Consistently moving between 11-18 SOL, the collection has been perfect for swing trades. However, assuming there are no further delays, we have a set date of reveal: 30th Jan.
Currently, the FP sits at 14.6 SOL. I expect this to run up to the 18-22 range as reveal approaches. The hype of the artists and team involved might even take this further, who knows.
You can play this a couple of ways:
1. Hold until right before reveal and sell the pump.
- Historically, projects tend to dump on reveal.
2. Hold until post-reveal and hold the unrevealed NFT.
- As mentioned in their most recent set of tweets, you will have the option to reveal your NFT or not. This is a similar mechanic to y00ts' t00bs that sit roughly 30% above the revealed collection.
- I expect a large disparity in floor price between different artist's work, for example John Le's art will probably hold higher than most. Additionally, there will be 100 1/1s in the collection.
These factors should create demand and pull the floor price up for unrevealed BONKz as people gamble on pulling "rarer" pieces.
The choice is yours. As always, act on your own accord and do your own additional research before buying! These plays don't always go to plan and new information could turn BONKz on their head.
NOTABLE RISKS:
A. $SOL volatility: a pump here could cause the NFT market to bleed further and effect the above.
B. Poor revealed art: if the art does not meet people's expectations then FP.
Comments