Deep Sea Debris
Dear Future Whales,
In today's note, I'll share a few ways to maximize the value of any “Rug” NFTs you might still have, even if they seem potentially worthless. On-chain points as incentives are currently in the spotlight, and I'll highlight the projects worth following to earn them. Lastly, there have been some serious security breaches recently, so be sure to review my tips and resources for staying safe. Let's dive in!
Summary:
Get value from your Junk NFTs
Points are in play
Level up your Web3 Security
🤑 Gain something from your Junk NFTs
Here are two ideas for how you can derive some value from your NFTs when they didn't quite perform as expected:
Tax Loss Harvesting:
It's a common strategy for individuals to explore tax loss harvesting towards the end of the year. "Unsellable" offers a practical solution for converting your NFTs, which may have lost value, into a CPA-ready receipt. Learn more about how this process works by clicking here.
Source: www.unsellablenfts.com
Harvest $JUNK from approved NFTs:
Try exchanging your NFTs that may have experienced "rug pulls" for $JUNK tokens. Approved collections have the opportunity to redeem $JUNK, which can be utilized to acquire goblins in the upcoming "Gods & Goblin auto-battler game" set to launch soon. To determine if your NFTs meet the criteria for eligibility, please visit the $JUNK list available here.
🎮 Points are in play
Rewarding active users with Points has become all the rage recently.
Just this past week, Rainbow.me (one of my favorite Web3 wallet dAPPS) announced their points drop for active users. If you've ever engaged with Ethereum, you've earned Rainbow Points. Whether you've used Ethereum with any wallet, conducted swaps in Metamask, or own Rainbow NFTs. To learn more about this, I recommend that you watch this short clip from one of my favorite content curators
Are you interested in other dApps that are giving away points and other benefits possibly tied to Airdrops?
Consider reading this week’s Web3 Academy newsletter for content on other projects doing the same.
I recommend signing up with SegMint.io. SegMint is gearing up for a February launch and will introduce an XP system that rewards user engagement. Users within the SegMint ecosystem can anticipate earning points for daily logins, completing quests with a captivating storyline, and even for basic tasks like setting up a SegMint Safe to secure their digital assets. These accumulated XP points can be exchanged for both on-chain and off-chain rewards, and can also be used to level up characters for additional $SegMint rewards.
🔓 Level up your Web3 Security
This past week, there were several very damaging exploits across Web3. I won't list each one individually, but several million dollars in NFT value were lost due to issues related to poorly written code and risks taken by various platforms and users.
Here are a few resources to help ensure that you are protected from malicious actors targeting your prized JPEGs.
If you only read one additional thing today, check out PUNK6529's post on TAP. He outlines an easy-to-understand plan for setting up self-custody. I have been following a similar strategy up to this point and have enjoyed peace of mind for years.
Get added protection:
Make it a habit to use Revoke.Cash regularly to revoke permissions that are no longer necessary. Revoke offers a browser extension that works seamlessly as well.
Check out Pocket Universe. Yet, another free option to improve your security. I’ve used this extension in the past and have had a great experience so far.
Authored by Matt Bartlett, CAIA. Follow Matt on x.com @MattBartlettVE
NOT INVESTMENT ADVICE
Please note the author has invested in all NFT projects and Cryptocurrencies mentioned within this article. The Author own assets created by the Futureverse team and ecosystem.
Please note that SegMint may offer investments products that invest in the asset class(es) or industries included herein.
The information herein represents the opinion of the author(s), but not necessariy those of SegMint, and these opinions may change at any time and from time to time. Non-SegMint proprietary information contained herein has been obtained from sources believed to be reliable, but not guaranteed. Not intended to be a forecast of future events, a guarantee of future results or investment advice. Historical performance is not indicative of future results. Current data may differ from data quoted. Any graphs shown herein are for illustrative purposes only.
This is not an offer to buy or sell, or a recommendation to buy or sell any of the securities/financial instruments mentioned herein. The information herein represents the opinion of the author(s), but not necessarily those of SegMint, and these opinions may change at any time. Non-SegMint proprietary information contained herein has been obtained from sources believed to be reliable, but not guaranteed. Not intended to be a forecast of future events, a guarantee of future results or investment advice. Historical performance is not indicative of future results. Current data may differ from data quoted. Any graphs shown herein are for illustrative purposes only.
In consideration of the receipt of non-fungible tokens (“NFTs”) from SegMint, you represent, acknowledge, accept and agree that: you received the NFTs as a gift from SegMint. You did not pay any consideration, monetary or otherwise, for the NFTs.
The NFTs are not an investment. Rather, the NFTs are digital memorabilia intended solely for entertainment purposes. As entertainment memorabilia given to you as a gift, the NFTs have no value and are not intended by SegMint to ever have any value. Neither SegMint nor anyone else will take or not take any current or future action that is designed in any way to maintain the value of the NFTs, or to cause their value to grow or increase. You must not attempt to obtain an NFT from SegMint if you view it as an investment.
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