Just Tried To Buy A Sevens NFT At Mint Launch: Gas Wars On Eth

So I took an attempt to get an NFT today at the mint launch time and it did not go well at all. The site I was looking at was called the Sevens and I liked the aesthetics of them. I have not bought many NFTs and have been focusing more on the one with utility but I wanted to try one of the ETH NFT mint launches and this one seemed good. What I didn't know was how bad gas wars was going to be for trying to get this and how much money you can waste just in gas for something that you will not even get. People are losing literally thousands of dollars and not getting a NFT.

First Of All What Is The Sevens

The sevens are 7k minted NFT collectibles that have references to animes, games, memes and pop culture. If you have seen crypto punks or the other type of NFTs which are a bust and face with different parts randomly picked when you mint you have an idea of what they look like. Each NFT will have different parts of it randomly minted and the rarer ones can sell for a lot of money. I'm talking about 100ks of dollars if the project takes off.

The mint fee was only .07 so I figured I would get 1 or 2 and try my luck. Boy was I wrong.

Gas Wars

It turns out when you try to get something on launch the timing of when you click buy (or mint in this case) does not matter but the amount of gas you are willing to pay to make sure your transaction goes first. I left it as it was and transaction went through so I thought I was fine. But it didn't get picked up. So I raised my fees to $200 which is crazy in my eyes but hey it's one time and the NFT was on the cheaper side. And I waited. Nothing. At this point I was done.

I checked the twitter to see what people were paying and gas fees were over 1 ETHEREUM! Some people were spending 1.5k to get their mint. That is $4,500 in gas fees just to get an NFT that is only worth $210 to mint. To make it worse I say people who spent thousands and had to cancel meaning they spent the fees and didn't get the mind. The money being tossed around is insane and way too much for my blood.

I lost my gas fees too which sucks but it is as bad as a lot of other people so I can't complain.

What I Ended Up Doing With The Money

I went to Opesea and bought some other projects that were minted but didn't get launched yet so I still have that chance to pull a rare of a new project. This means I paid double and triple from the mint price but since gas fees were not so high and I can put them in at lower and wait, it would have been the same to get them as a new mint. Actually it would have been a lot more as 1.5 eth was the going rate.

Taking A Break From NFTs Collectibles

I cannot afford these fees. If the NFT is used for in-game I can swing it but the amount of money for these things is crazy. I still want to get some Eth NFTs as they are high risk high reward and Eth is still were the money is. I got two which might pan out so I'll keep an eye on them and maybe sell them to buy more if they do well but right now I'm going back to look for ROI projects so I got money coming in. Maybe I'll grab some on a different chain if its cheaper and I see some I like but for now back to utility.

Any one have luck getting an NFT at mint time? And do you have any on Eth you are sitting on?

Oh I just found the sevens on opensea people are sending their mint pre-live sevens and they are going for 1 eth minimum. they started with .07 but fees made them worth the 1 eth.

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