Monthly Archives: February 2023

Tamilnad Mercantile Bank IPO

Tamilnad Mercantile Bank IPO was one of the two large IPOs in September
The IPO was extensively advertised in the newspapers especially Economic Times
IPO opened on 5 September 2022
IPO closed on 7 September 2022
Ipo size: Rs 792 -832 crore
Bid lot: 28 shares and muultiples
Price band: Rs 500-525

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NFT public sales are like IPOs

Though you may feel that being the first person to purchase a new non-fungible token (NFT) is lucrative, there are some risks which every buyer should be aware of.
New NFT collections are offered for sale regularly, and when these collections are first available for sale, the process is called minting. Though the term minting is also used to refer to a collection becoming part of the blockchain, advice on purchasing NFTs is discussed below.
Once the NFT is minted, the investor can invest in the collection at the earliest. This greatly increases the possibility of making a profit, if the value of the NFT collection increases in future after it is listed on Opensea or other secondary marketplaces for NFTs. However, though some NFT investors make massive profits, it is also risky since the money invested is not liquid. This lack of liquidity contrasts with bitcoin and other cryptocurrencies which are fungible and can be sold on a large number of brokerage platforms, exchanges and mobile apps. However, for NFTs there are comparatively few marketplaces, and the number of buyers is also limited.

NFT sales trends
At present the “Bored Ape Yacht Club” is the considered the most expensive NFT collection valued at 100 ETH or approximately $270000.The public minting of this NFT collection took several days in April 2021. The early investors in NFTs were able to purchase these attractive NFTs paying only 0.08 ETH or $217. While experts agree that there was very less competition for minting NFTs before the sector boomed in early 2021, the NFT market is expanding and evolving, and the minting process is also improving. At present, NFT projects are using a two tier system for marketing. In addition to a public sale, some of the projects may also have a pre-sale.

How to get whitelisted for the presale
Only buyers who are whitelisted can participate in a presale,which is typically scheduled many hours or a few days before the public sale. While lower prices are usually the main advantage of minting during the presale, the buyer will also not have to compete with others during the public sale, especially if there is only a limited supply of the collection. Each NFT project will have different eligibility criteria for whitelisting. These criteria are normally listed on the Discord channel for the project, and the Twitter feed of the project will also include a link to join the discord channel.
Usually user engagement on Discord, a messaging app is the main criteria for whitelisting a buyer. NFT projects like publicity, and so they reward members of the discord server who are more active. Hence members who send more friend invites and chat frequently are more likely to get whitelisted. Additionally Twitter users who help promote the NFT collection, tweeting about it may also be whitelisted. Some NFT projects may call the whitelists as “star list” or pregame, but the privileges are similar.
NFT grind
Though crypto investors get very lucrative returns, there are are also some disadvantages. In some cases, the eligibility for whitelisting is extremely time consuming and tedious, so NFT traders call the process grinding. For some NFT projects, investors have to purchase expensive items to get entered in a raffle, and only the winners will be whitelisted.

Minting during presale
Investors who are whitelisted can mint their NFT during the presale, going to the project website, connecting their crypto wallet and choosing the mint option. However, investors should be aware that there are a large number of scam Discord NFT presale launches. Scammers often send private messages with a link for minting, though genuine project administrators will not do so. NFT minting is similar to a lottery, since you often cannot choose the artwork you will mint. Investors may not receive a rare NFT, and the NFT allocation is revealed only after the minting of the entire collection is completed. NFTs can be traded in the secondary market immediately after the presale is completed, so investors who want a quick profit can trade in an NFT which is not revealed before it is publicly sold.
Public sales
Like presales, the investor has to connect his crypto wallet and mint during a public sale, where NFTs are allocated on a first-come, first served basis. However, if there is a lot of demand, some investors may not mint an NFT and they will also have to pay high prices or tips to the miners hoping that the transaction will be processed faster compared to other minters. Even if the transaction fails, the investor may have to pay the mining fees. Investors should be aware that the price of NFT collections can reduce after some time, and some NFT collections with high public sale prices have zero value at present.

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