how to make money on the release of the NFT collection from Messi?

Dmitry Fomin named a way to make money on a series of digital cards of a famous football player, which will be available for purchase on the Ethernity Chain platform from August 20.

The influence of stars and famous personalities on the crypto industry is great, and Lionel Messi was one of the last to demonstrate this.

The footballer has announced the release of his own NFT collection “The Messiverse“, drawn by the artist Bosslogic.

Feliz de presentarles mi primera colección oficial de #NFTs disponibles en #Ethernity. ⚽️ Seguí a @EthernityChain y preregístrate en https://t.co/rWaa0Dd99N para participar en el #Messiverse. Arte x @Bosslogic. pic.twitter.com/wBGr4iYMP7

— Leo Messi (@Ieomessiok) August 4, 2021

Tokens will be presented on August 20 on the Ethernity Chain platform, which the latter announced on its blog on August 4 . You can already pre-register on the official website of the project.

The news of the release of the NFT by the footballer had a positive impact on the value of the Ethernity Chain (ERN) token.

Within a few hours after the announcement, the coin rate rose by more than 50%, from $ 8.5 to $ 12.7.

After a slight correction, the asset continued to rise in price and is now trading at $ 13.5. This is 81% below the all-time high of $ 74 in March.

The essence of the idea: the purchase of ERN tokens in anticipation of the release of Lionel Messi NFT tokens.

Why an idea might work?

The ERN price hike may not be over. The asset retains its upside potential up to at least $ 15 – the nearest resistance level is located here.

If the price rises above it, the growth may continue until the next resistance at $ 19. Fixing the rate above this mark will make the $ 23-28 range the next target, but this is an extremely favorable scenario.

Upon reaching the listed levels, it will be possible to partially close the position, fixing the profit.

Also, it is important to close the position or secure it with a stop loss order just before August 20.

As a rule, the price of an asset rises in anticipation of the event and begins to fall sharply after it occurs.

To buy, it is advisable to wait for the ERN correction. Since the publication of the announcement, the token has risen in price by 70%.

If traders begin to take profits, this can lead to a short-term decline in asset prices.

It is safer to invest in a coin at the rate of $ 12 – here is the trend line that formed after the start of growth. If the price drops below this mark, you can buy ERN for $ 10.

After opening a position, it is important to wait until the asset price rises above the buy value in order to place a stop loss order.

This will protect the trader from significant capital loss. ERN is an exciting coin, and if you neglect risk management, you can suffer big losses.

Reasons for Growth

There are several reasons for the rise in the value of ERN. Firstly, there are still about two weeks left before the start of NFT sales from Lionel Messi .

During this time, there may be a significant influx of new users to the platform, while the news about the release of the collection will spread throughout the media space.

In addition, in the near future, the media will likely pay a lot of attention to the footballer due to his recent departure from FC Barcelona.

Secondly, the power of football fans cannot be underestimated. This is a market with a huge audience.

One of the first to enter this market was the startup Chiliz. At the end of 2019, the project began issuing fan tokens for football clubs, and later drew attention to other sports.

This led to a manifold increase in the value of the Chiliz token (CHZ). In 2021 alone, the coin rallied 1200% to its current $ 0.26 level, peaking at $ 0.89 in March, according to Coinmarketcap.com.

Continued growth in the value of ERN will largely depend on the success of the sale of Lionel Messi NFT.

If the tokens are sold at a high price, this will bring additional coverage in the media. More importantly, the strong interest in this collection could prompt crypto exchanges to list ERN to attract new users.

Currently, the platform token is only represented on three major platforms: Binance, Gate, and Uniswap.

Risks

Buying ERN tokens is a risky investment that can lead to losses. The price of an asset can drop to $ 8 if traders who bought it after Lionel Messi announcement start taking profits.

However, if the rate falls to this level before August 20, you can increase the position in ERN. The range of $ 7.7-8.3 will act as support from which a rebound is likely.

The market itself poses a significant threat to the growth of the asset rate. Over the past two weeks, Bitcoin and Ether have risen in price by 35% and 55%, respectively.

If the leading cryptocurrencies begin to correct, it will lead to the fall of most digital coins, including the ERN.