if you're in the NFT space, how can we not celebrate this?
it's the most novel product that came out for the space in years.
it's a transparent and perpetual michael saylor for the nft space.
instead of bashing it, try selling it like saylor
and your bags will thank you
FWIW I think the NFT Strategy thing is AWESOME
Yes the beginning was bumpy, but how bumpy was it really?
How many floor buys did each collection lose?
BAYC
219.15e = Fees spent so far
13 = NFTs purchased
22 = Expected purchases
9 = Floor buys lost (90e)
Penguins
109.75e = Fees spent so far
6 = NFTs purchased
10 = Expected purchases
4 = Floor buys lost (44e)
Moonbirds
63e = Fees spent so far
9 = NFTs purchased
22 = Expected purchases
13 = Floor buys lost (37e)
CryptoDickButts
26e = Fees spent so far
6 = NFTs purchased
17 = Expected purchases
11 = Floor buys lost (16.8e)
MeeBits
32e = Fees spent so far
15 = NFTs purchased
35 = Expected purchases
20 = Floor buys lost (18e)
Total ETH spent = 450e
Total lost to arb bots = 206e
Total put into floor so far = 244e
So yes, the bots feasted for about 206e
But... the contracts have already deployed 450e in the first day (it has been less than 7 hours)
I'm going to bet that in a few weeks the amount of money put into the floors of these NFT collections is going to be many multiples above the 206e that was extracted
I'm a huge fan of what the team at @token_works has done and I look forward to watching it continue to grow
The 206e extraction wasn't great, but it is DONE
The fix has been made (thank you @0xQuit)
No more massive arbs
And this isn't including anything about the fees generated back into NFT collection owners + token buy backs and burns once the purchased NFTs sell (ok, not the ones listed super high, but the rest)
Big Fan
Gud Tek
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