The virtual world of NFTs and the extraordinary world of the sneaker industry are much more similar than you think! We’ve got NFT copping, just like we’ve got sneaker copping. We’ve got NFT reselling, just like we’ve got sneaker reselling. And, above all, we also have NFT bots just like we have the best sneaker bots!
So, this means that NFT bots have the potential to do the same thing sneaker bots do. However, keep in mind that, considering the virtual craze is still relatively new, they won’t be AS sophisticated! Sneaker bots have been around since the dawn of sneaker time. And, honestly speaking, the main reason NFT bots exist is because of the sneaker industry’s venture into the virtual! But, that’s just OUR opinion on it.
However, if you think about it, it all makes sense. If it weren’t for sheer sneakerhead brilliance, no one would have considered botting NFTs like botting sneakers. And so, as sneakerheads, we’d kinda like to take credit for that. So, you’re welcome. And, before we jump right into things, we’ve got a gift! Everything about NFTs in one place! Click on the button below to claim the knowledge!
WHAT ARE NFT BOTS?
First, let us begin with a very brief introduction to NFT bots and why they would exist! Traditionally, people buy and sell NFTs through different marketplaces or through online auctions – all of which are (obviously) online! However, the only difference is usually the payment method – which is an easy fix! Depending on the marketplace of choice, you either use your crypto wallet or your fiat details.
In other words, having an automated service to buy and check out on your behalf seems pretty natural! So, basically, NFT bots just automate the process of buying super hyped and coveted NFTs. BUT, just like there are types of sneaker bots, we’ve got types of NFT bots. A lot of which are used to manipulate markets and auctions. Keep reading, we’ll explain!
Benefits of Having an NFT Bot:
– Make money reselling NFTs
– Target the NFT of your dreams!
– Cop any and every digital asset you want
– Monitor NFT marketplaces for hyped releases
DIFFERENT TYPES
SPOOFING BOTS
First, we’ll start with the trickiest type of NFT bots – SPOOFING BOTS. They are a typical form of market manipulation. Like the word, “spoofing” means, it is basically tricking the market. For a buyer, this means you’d trick people into thinking that no one wants the product. You convince people that they aren’t hyped, and not worth copping. On the other hand, for a seller, you do the opposite. You make it appear as if the demand for this product is VERY high!
– Spoofing Bots place a huge number of bids on NFT auctions at a lower price than the asking price
– When they accept the bid, it cancels the bot. (This causes the value of the NFT to drop down when relisted)
– Therefore, the botter buys the NFT at a price less than the initial asking price!
SNIPER BOTS
Next, we’ve got SNIPER BOTS. People use these NFT bots a lot – especially during online auctions! In other words, they work best with timed releases. It places bid at the latest possible moment of the auction to increases its chances of winning.
This just helps the botter get the best possible chance at the lowest price.
However, that doesn’t work with all types of auctions. This is because a lot of auctions add intervals of time with each added bid!
SPINNER BOTS
And then, we’ve got SPINNER BOTS. These types of NFT bots are basically like hoarders that love holding on to stuff. The “stuff” being the NFTs, of course! Here’s how it works:
– A spinner bot adds the NFT to the shopping cart so that no one else could!
– This is called ‘denial of inventory’ that prevents other people from buying it.
– The bot then lists the product on the resale market
– When someone buys it resale, the bot finishes the initial checkout! If no one buys it off resale, you can just abandon the item you kept in your cart! Win-win!
SCALPER BOTS
Then, you have SCALPER BOTS which are basically like a ticket bot but for NFTs! These NFT bots buy the thing you want in BULK until they sell out. After that, you head to the secondary market and resell them for so much more! Sounds familiar, right?
Sneaker bots have the ability to do that too! This is the reason why a lot of people prefer flipping sneakers as a side hustle or a full-time job!
This brings us to our very last type of NFT bots – the all-in-one bot! Keep reading to find out more.
AIO BOTS
Finally, we’ve got all-in-one bots – our favorite of all NFT bots out there! For starters, a lot of sneakerheads already own a bot, and (if they’re smart) it’ll be an AIO Bot. But, of course, not all AIO bots currently offer the option of NFT copping. We assume they might soon enough! Some of the best NFT bots that are also AIO Bots include:
AIO Bots:
– VentoAIO
– MetaMint
– PlatinumAIO
– BreezeAIO
NFT Bots:
– Minter Suite
– NFThunder
– NFTYBOT
– Quantum IO