NFT Flipping Committee Formation

Do you want to see this move to a BIP?

  • Yes
  • No

0 voters

Status: Draft Proposal Author(s): @n00bleLAND & @CryptoChicca (aka CryptoChicca)

Discussions-to: Refer ‘NFT-Shopping’ in discord, and type below.

Created: 11 October 2021

Requires: BIP

Implementation: Proposal to be discussed for 3 days, then proceed to BIP vote if supported. ‌

Buzzed Summary
BIP-003 approved investment in NFT through two functions: 1) NFT expert flippers and 2) Community led initiative ( referred to from here on out as the Bear NFT Flipping Committee). This proposal is to provide operational guidance / permission to the second initiative to help implement the strategy from BIP-003 and provide the Bear NFT Flipping Committee with a mechanism to enable action.

Abstract ‌
A Bear NFT Flipping Committee will be formed to bring a formal structure to the pilot flipping program that has proved effective. This proposal is to provide operational support and enable that committee to be formalized with effective guidance.

The Bear NFT Flipping Committee has made some great buys, but there is a lack of clarity on how / when to flip, and when / what to repurchase. This proposal aims to provide guidance to those leading this committee.

Specification ‌ Overview ‌
The Bear NFT Flipping Committee should be led by @defijesus with 2 other trusted bears as support (referred to here on out as APEX Flip Leads). Each of those three Apex Flip Leads will lead the community NFT flipping and should have authority in the event of an inconsistency within the Bear NFT Flipping Committee. This may be the vote on ‘what’ is bought or around the price of selling, if there cannot be agreement between Bears. Having 3 members will enable a clear decision.

The following are some suggestions from the community that have been pulled from the Discord server. They are placed here as a documented record of potential ideas, but not as requirements of the to-be-formed Flipping Committee:

  • The committee will be responsible for coordinating buys, filtering suggestions, and organizing group votes for investment moves related to the Flipping Committee
  • They will manage the eventual sales of honeypot owned assets
  • Announce scheduled buying sessions. For example, this could look like a one-hour session where all are invited to give input and vote on purchases or sales. This would be a formalized version of the pilot session that took place.
  • They should set emergency sell parameters. These would be a failsafe if there are significant drops in prices. For example, an emergency sale could be triggered to save the honeypot from larger losses without the initiation of a scheduled session.
  • Organize a weekly check in to discuss what to buy, what to sell, what to hold. This could be a pure share of information that Bears could use for their own personal investments.

The reasons for this proposal are :

  1. The current NFT flipping pilot that is running is handcuffed by lack of operational processes to achieve the goal of growing the Honeypot. The main reason for this proposal is to give formal structure to NFT flipping within the Buzzed Bears Hideout.
  2. Empowering additional ways to grow the Honeypot.
  3. Engaging the community to work together towards a common goal

Technical Specification ‌
This is an operational guidance proposal, to enable decisions to be made within the Bear NFT Flipping Committee, as governed by the Apex Flip Leads. The bears who request to be part of the Bear NFT Flipping Committee can elect to vote (not required) on the NFT flipping ideas suggested in an informal way within the committee itself, whether by thumbs up/down, or as determined by the APEX Flip Leads to give best effectiveness to the outcome. The Apex Flip Lead(s) will have the final decision to act on behalf of the committee the best interests of bears having regard to community voting.

Test Cases ‌
The Hideout has run a very successful pilot which resulted in the extremely successful purchase of CrypToadz at a low price. This pilot flipping session not only yielded profits for the honeypot, but it created a spike in engagement among the community members.

Copyright ‌
Copyright and related rights waived via CC0.


If comment still open, might suggest:

Establishing minimum/maximum time of holding. This prevents selling before pricing may be fully established or holding too long. Min/max determined prior to purchase and disregards emergency sell parameters.

Establishing target sale price. Once target hit, can either sell immediately or wait to sell until market begins rolling over (likely above but no less than target). Such targets and planned actions determined prior to purchase, may or may not be subject to min/max time parameters.

Such strategic elements cannot be disclosed broadly as they can be copied or gamed. I believe purchase/sell strategy can and should be disclosed upon position exit, with proof/validation of adhering to strategy. Basically a neutral (non-apex) party within community that can validate strategy was adhered to without disclosing broadly, akin to a judge. I’d be happy to do this.

Community at large can pitch ideas, vote on purchases and elements of strategy. Finalization and execution of strategy may be guided but not dictated by community (full agreement with technical specification section)


Great proposal!
Kind of relates to what Jimpson said but more on the holding perspective.
Could there be a point were we can vote on if a asset that’s proving to be successful should become a long-term hold over a flip?
I’m all for the fun and engagement that flipping creates but if we intend to be sticking around in this space we should also be keeping an eye on the next emerging blue chips.
I believe in the strategy that we should always try and buy more than 1 of whatever we buy for this reason.
Eg. buy 3 “x” for 1 eth each (3 eth spent total)
Sell 1 “x” after %150 gain (2.5eth - .5 loss)
Sell 1 after a either a further 100% gain or after a 100% pullback (5eth or 1.5 eth - 4.5 or 1eth profit)
Leaving us with 1 “x” to hold and ride out in the potential that were holding onto the next punks or BAYC.
Obviously not the most thought out strategy, could probably do something based of the % returns that most other successful projects do on similar hype cycles but those are just some numbers I threw out of my head.
Ideally having 2 to ride on successful projects would be good, then we can sell one later and still stick around for whatever comes next.
Appreciate the write up, good job again @n00bleLAND and @CryptoChicca.


Awesome proposal - I will vote in support!

Yes, I agree with the comments here, that we should have some general ‘rules’ or ‘strategy’ that we stick to (unless the lead bears have a good reason to over-ride it)…

Perhaps something along the lines of what @Xdog is saying, like…

  • If NFT value is between -50% and 2x what we paid: It’s in the hodl/wait zone…

  • If value is down more than 50%, or up above 2-3x, it triggers a discussion about selling…

  • If value is down around 75%, or up above 4x, then it’s pretty much an insta-sell, without a need for a big discussion (lead bears authority)…

An example for our toadz purchased at 2ETH would be…

Hodl between 1ETH and 4ETH
Debate selling if below 1ETH or above 4ETH
Insta-sell if approaching 0.5ETH, or 8ETH

I also like that we buy at least 2 of everything (where price allows)…

Just my buzzed 2 centavos, nice work though!! :bear: :mushroom:


Yeah some really good points here, @n00bleLAND and I will discuss some basic rules and we can vote on these before anything goes to BIP. Also, we discussed having nominations for the other two apex flip leaders in discord and then running that vote through the DAO, so we will make some amendments soon. Great suggestions above.

1 Like

If you need another opinion on anything feel free to run it past me on discord and I’ll do my best to identify and point out any potential changes/issues and try give you some good feedback before we go to BIP.
Not a professional flipper by any means but have been paying quite a lot of attention to the NFT market for the last 6 months so happy to help where I can.

1 Like