My first NFT flip – this weekend I sold two cartoon ape NFTs for $16,000

Morgan Linton Bored Ape Yacht Club

Well this morning was an interesting one. I woke up, checked my email, started drinking my coffee, when a friend of mine sent me this DM on Twitter:

I did a double-take. Did I sell an NFT over the weekend and not even know it? This weekend I actually took a little Twitter break and enjoyed some R&R with friends in Berkeley on Saturday and then spent the day with my Dad for Father’s Day on Sunday. What did I miss in two days?

I quickly opened up Chrome and took at look at MetaMask – $16,000 was in my wallet. Wait, that’s more than 4.5ETH, what’s going on? So I popped over to OpenSea and was excited to see that I had just sold my first two NFTs, both apes from Bored Ape Yacht Club, one that sold for 4.4ETH, the second which sold for 4.5ETH.

I have four apes total and these were two that I was open to selling, hence the pricing. As a numbers guy I had to do the math, so here it is:

Purchase price: 1.309ETH
Sale price: 8.9ETH
Profit: 7.591ETH
Hold time: ~1 month

For those doing the ROI calculations that’s a 579% ROI in a month, off of two cartoon ape JPEGs – what a world we are living in. Just like I do in the domain investing world, when I sell an investment I always like to re-invest some or all of my profits. In this case, to start with I decided to buy another Bored Ape, this one with a much better rarity score than the other two that I sold.

So I’m happy to introduce you to the newest member of my ape fam, Bored Ape #569 (rarity score of 2323). Fun fact, 23 is my lucky number so the 2323 was hard to resist.

Now there’s one additional facet to this story that’s important to share. As many of you know, ever ape owner had the chance to mint one dog for each ape in their portfolio. I did not mint dogs for the two apes that sold, and that’s okay, I don’t think they would have sold if I had. While I could say, “I should have minted the dogs!” It’s hard to feel bad about a 579% ROI and I do think if I had minted the dogs, these wouldn’t have sold.

While I’m a HODL kind of guy with domains, crypto, and NFTs, I also think it’s important to book some sales, re-invest, and keep growing the portfolio. Also, I feel like it’s about darn time that I see some ROI on my NFT investments and waking up to $16,000 today felt pretty damn awesome.

Here’s to the journey ahead, it’s pretty clear there’s something very special here.

{ 3 comments… add one }

  • Marvin June 22, 2021, 6:30 am

    Is this another April Fools? 🙄

    Reply
    • Morgan June 22, 2021, 3:11 pm

      Haha, nope – it’s not April 1st, this time it’s real!

      Reply
  • Jagan June 22, 2021, 8:29 pm

    Congratulations Morgan on your successful sales.

    Reply
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