Tips and tricks for researching trades and increasing your net worth on Revel.xyz
Making trades on Revel.xyz is a great way to increase your net worth. Many of our community members have asked questions about how to get started and we wanted to share some tips for finding and making good trades.
Do Your Research?
As with any trade for an asset with value, you should always do your own research. But, “what research should I do,” you ask? We’ve got you covered.
Research the Creator:
The Revel.xyz dashboard is a great place to start looking for assets you may want to collect. You can sort all the creators on Revel.xyz by net-worth gainers, featured creators, and trending creators. It’s a great place to view all of the Revel creators and find someone with whom you may want to trade.
Once you find a creator you’d like to trade with, take a look at the creator’s profile. Is he trending on other social platforms? Is she active on Revel.xyz? Do you like the collections you see? Remember that, once you create a series, you will receive bonus assets every time this creator mints a new Collection. So, ideally, you trade not only for assets that you like but also ensure that those assets’ creators are continuing to create on Revel.xyz regularly.
Research the Asset:
You can also begin your search by looking through featured assets on the dashboard.
It’s certainly important to research the creator but also the specific asset since you will potentially soon own it. Are there similar assets on Revel? Are they increasing in value? Are these assets changing hands and increasing in value? Is the asset locked by another user? Users will probably be more willing to trade an asset that isn’t locked, since they aren’t receiving Harvest from it. When making a trade for a locked asset, be sure to make a strong offer in order to incentivize the user to unlock that series.
It’s also important to research how many distinct users own an asset. This could help you decide if you want to make a public or private offer. Public offers appear to everyone who owns an asset, increasing the likelihood that an offer will be accepted quickly. A private offer is made to only one person. By offering a good public trade (in terms of value), a community member is more likely to accept.
EAV (Estimated Asset Value) is also a key measurement to review. While EAV is really in the eye of the beholder and should not be taken as gospel, we try to provide a rough gauge for how valuable an asset might be based on previous trading activity. When an asset has increased in value recently, asset owners may be more likely to hold on to the asset. If this is the case, consider what you are offering for the trade (perhaps a mix of $R and some of your assets will incentivize the user to accept).
Waiting on a Trade?
Remember that if you already own an asset from the community member with whom you are trying to trade, you can use the in-app chat functionality to negotiate. This is a great way to explain your thinking to a trading partner and discuss what it may take to close the deal.
What’s Next for Trading on Revel.xyz?
As we continue to make enhancements to the product, we will add new functionality to further help you research each trade. Stay tuned and, in the meantime, come trade with us in the Revel.xyz app!