The Art of NFT Reselling
Pritesh Patel has carved a niche for himself as an expert in reselling NFTs
He who wins knows when to fight and when not to fight. So said, Sun Tzu. An up-and-coming reseller Pritesh Patel might say something like, "He who wins knows when to resell and when not to resell."
Since its inception in 2014, non-fungible tokens (NFTs) have grown in popularity. In the last couple of years, they have exploded across the Internet at a time when companies, creators and social media moguls alike are investing in the metaverse. What is an NFT? It's a digital asset like a piece of music or artwork where one single version is hosted on a blockchain. It cannot be copied or downloaded. It's a one-off.
Patel is not a creator of NFTs. Global artists and developers are creating million-dollar selling collections. No, Patel has carved a niche for himself as an expert in reselling NFTs. The process is like this: a group develops hundreds or thousands of individual NFT pieces. These are mined on the blockchain and sold to the general public. A reseller is someone who gets in early and, once the sale is finished, can resell hot properties to those who missed out.
Selling NFTs for profit is big business. In his first six months in the NFT market, Patel raked in over £300,000 in revenue. This got people talking, and soon an NFT producer called My Pet Hooligan (MPH), produced by AMGI Studios, approached Patel to become their new Lead Alpha Caller. He now advises clients and customers on which NFTs to buy and profit from. MPH is an interesting NFT project where the idea of NFTs as avatars has evolved into a metaverse PvP video game.
Not content to resell NFTs himself, Patel is moving in the direction of many NFT creators in 2022: toward communities with genuine utility. This year he has founded Paragn Network, a growing community of over 150 resellers where Patel is a leader and mentor. In addition, he's created a way for resellers to find and exploit new NFT projects and drops.
However, it goes way beyond that. He's creating videos and written guides suitable for experienced resellers and newbies alike. On top of this are an NFT tool built in-house and project analysis, one-on-one advice, community access, and giveaways. In a short time, he's helped oversee some impressive profit turnarounds. For example, with Azuki, he turned an £84,000 investment in 30 minutes into a return of £236,000. Meanwhile, and perhaps more spectacularly, an investment of £840 into 2 minutes with Mekaverse turned into a £37,957 profit.
Patel is not new to reselling, and he has not limited himself to just the NFT market. Quite the opposite. In 2016 he started buying and reselling limited edition sneakers for a considerable profit. While he moved on to trading in Forex and learning to develop in Web3, he never stopped reselling sneakers. Instead, he's built a trading platform with bots able to find and exploit sneaker reselling opportunities.