![]() ![]() It would also be interesting to see how they can keep building during bear market.Please ensure that you have reviewed footage, reviews, and the product carefully before ordering. Interesting to see how quickly Parrots team can build and roll out more features for its users, how many notable traders/users can be on boarded to the platform etc.Most users will need liquidity on a higher side for NFT trading. Also, NFTs are not fractionalized or liquid. Going forward this field will face stiff competition. Foraying into Copy Trading seems next logical step for them. Passive income can be good ( if user base is high, and team decides to give back profits to NFT holders)Ĭons: There are always competitors in the space like Smart Sea Society and Very Tech, who are already working on NFT analytics and Sniping tool domains.“Copy Trading” truly a game changer in NFT Space.Tech team is also quite competent with devs from Computer Science background (MS. They have been involved in startups and seen successful exits. Additional airdrops are also planned by the team.įounders have adequate exposure and experience in building tech products for a decade. Holders have free subscriptions to traders, premium features like auto-buy/sell, new products being rolled out by the project and also get a potential profit share from the project. It has been downloaded a lot since then and many users have been using this on a regular basis. The sniper extension rolled out by Parrot notifies users of new listings, rare traits and approximate value of the NFTs so that users can snipe. Users can choose to follow them as per their risk levels. Traders are also onboarded and analyzed as per their trading history, a certain style is assigned to them and their display their financial metrics is showcased.Matches you with a Trader whose trading is close to your style.It might even seek to change your style from flipping to more of a holding type.The trading analyzer basically collects your data i.e NFTs bought/sold/minted/holding, and analyzes how much risk averse or risk seeking trader you are.For Parrot NFT to be successful, a team of successful traders a large number of users have to be on boarded.70% of the subscription fee would be paid back to NFT Holders/Investors.30% of the subtotal of subscription amount will be collected by the treasury for building additional features.Subscription amount might range from 0.1 SOL to 2 SOL depending on type of access a user needs Parrot NFT plans to use a monthly subscription Model for users.It is always better to follow a trader with historical profit and replicate his trades. General users make use of alpha channels in discords, or follow influencer tweets to make a decision and often this backfires. Most of us, the common folks even have no idea what we are buying. In their words “It seeks to provide a simple way for NFT investors to make money and experienced NFT traders to earn passive income.”Įntry and Exit management is the most difficult choice any NFT enthusiast faces in the space. Traders take degen and irrational trades, yes it happens as well, and you get stuck.īigger question here is, Is Copy Trading possible in NFT space? If yes, then how? Parrot NFT seeks to answer this with its upcoming Parrot Copy Trading Platform.Sometime during Bull Run, traders take profits after a certain % profit, but the coin keeps on pumping.Trader might have allocated 1% of his capital, but you might have taken more risk. Sometimes traders pay with high leverage, and get liquidated.One needs to expose your API to allow your account copy the trades. % Profit and % Loss also gets replicated. Whenever the trader takes a trade the same trade gets replicated in your account. You can track trades of some successful traders and choose to follow one of them. “Copy trading” has been one of the best things to happen in the Crypto and Stock market trading space. Parrot NFT Copy Trading platform - Can it deliver the intended results? ![]()
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