Short story:
There are all these promises of "you can make it with little $ in #crypto" and a ton of influencers charming in on the topic. A lot of that is scammers trying to get your money.
But it has to be said: it is absolutely f-ing true. Here is an example of a project:
There are all these promises of "you can make it with little $ in #crypto" and a ton of influencers charming in on the topic. A lot of that is scammers trying to get your money.
But it has to be said: it is absolutely f-ing true. Here is an example of a project:
https://twitter.com/dkcrypto13/status/1356374228736606209
In January 2020 (1st post in the thread is from Feb 1st), I stumbled upon @0xmons $XMON token. I checked out the page and even though I wasn't into #NFTs at all, I thought the idea of AI generated pixel monsters is cool AND novel.
I dug deeper and noticed that the Dev is super responsive, not anonymous, helpful and passionate about the technology behind NFTs.
He has since, by the way, churned out numerous innovations in the space.
I liked that these monsters were fully encodable on chain and truly rare.
He has since, by the way, churned out numerous innovations in the space.
I liked that these monsters were fully encodable on chain and truly rare.
That meant they were not just a link to a JPEG on some server. I also liked that there is a great Dev on a project who was listening to suggestions and it was just a 50-100 ppl TG group plus a $1m fully diluted market cap. So it was something I thought had potential.
I bought some token to mint monsters (which took time staking the token & there are under 400 total) and I also noticed the liquidity on #uniswap was quite low, so I decided I wanted to support the guy and put up liquidity. Not that much, but early on I was about 1/3 of the pool.
The APY in $XMON was super attractive, but of course there was the risk that the project would tank.
Given the Dev's determination this seemed unlikely. He also turned down all marketing requests - very steadfast (and it says something about character).
Given the Dev's determination this seemed unlikely. He also turned down all marketing requests - very steadfast (and it says something about character).
Anyways, today, the price of the token is still 10x higher then when I started.
The return on liquidity provision was insane.
I am one of the larger #XMON NFT holders and each of them is currently at a floor price of c $85k.
My original investment was less than $10k.
The return on liquidity provision was insane.
I am one of the larger #XMON NFT holders and each of them is currently at a floor price of c $85k.
My original investment was less than $10k.
Total return on this project stands at ~150x as of now.
What I am trying to say is: even if you take out liquidity provision & reduce my initial investment to $250 - it would still have yielded insane $ profits in comparison to day 1 invest. Such are the opportunities in #crypto
What I am trying to say is: even if you take out liquidity provision & reduce my initial investment to $250 - it would still have yielded insane $ profits in comparison to day 1 invest. Such are the opportunities in #crypto
This is not the only project that has done this well for me. Now, I am an experienced investor & trader and maybe I have an advantage, but I truly believe that if you dig deep understanding new projects & trends, no other place currently offers these kind of opportunities.
I truly hope that everyone who reads this has a similar experience at least once in #crypto.
A word of caution: never ever invest money you cannot lose. Try to avoid acting on emotions at all time.
Of course, none of this is advice. Just an inspiration I though I might share.
A word of caution: never ever invest money you cannot lose. Try to avoid acting on emotions at all time.
Of course, none of this is advice. Just an inspiration I though I might share.
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