Why I’m Disappointed About Turning $200 Into $2,300.
It seems to me I have every right to sue my son.
Hear me out. What he did to me is beyond the pale. Sure, I mean, it’s my fault at the end of the day, but I am certain that in the American legal system as it exists today I can assuredly find a sympathetic set of ears.
It all begins with this bear:
That’s the Okay Bears NFT I minted several weeks ago. I paid 2 Solana for it, or about $200 at the time.
Now, if you’re new to all this, an NFT is a non-fungible token—a type of cryptocurrency that is basically a one-of-a-kind piece of art. Only, these days they’re not really “just” a picture. Many of them have all kinds of uses behind the art—everything from play-to-earn gaming to venture-capital investing.
But back to The Bear. I have taken to calling him by a proper name—The Bear—to remind my son of the heinousness of his crime against his very own father. I say “The Bear” and I can hear him cringe. I like that.
See, I “minted” this Okay Bear…meaning I bought it at launch. In the early minutes just after the Okay Bears mint, the price was already going nuts. By which I mean the floor price had hit 7-ish and my son had already sold his for 10 Solana, locking in a 5x profit in minutes.
My son knew I had minted an “Epic” Bear—meaning mine was a particularly rare variety—and so he convinced me to list it for sale at 23.23 Solana.
The crime was unfolding.
My Bear ultimately sold at 23.23, meaning I turned $200 into more than $2,300 in about two hours. And yes—who can complain about that kind of victory in such a short period?
Well, I can.
In the days and weeks since this crime was committed, Okay Bears have climbed…
Ready for this?
Bears have climbed to 230 Solana—more than $12,000. And that is for floor-model bears. Epic Bears have been selling for 300 Solana—more than $15,000. That would have been a legendary trade: $200 to $15,000 in less than a month.
Yes, I made the decision to sell. But absent my son’s goading, I would have held on…
And, thus, you see the cause of action that I am certain would lead to my victory in a court of law.
But there’s a bigger story here than the financial pain and suffering my son has caused…
The bigger story is what’s going on in the NFT space right now, even as the cryptosphere has hit a downturn.
A new category of NFTs has become hugely popular among investors. Right now, “community” is winning the day. NFT investors are gravitating toward projects that have a strong community of followers. They’re barely paying attention to where the project aims to go, or what its purpose is.
They want to be invested in the hot community of the moment, because they know if they latch onto one like Okay Bears, they can see a tiny sum of money morph into a large sum of money very quickly.
Bears isn’t the only example of this.
Cets on Creck (an urban cat-themed collection) minted at 2 Solana and shot up toward 90 within a couple of weeks.
And just this past weekend, on Saturday, Reptilian Renegade minted at 1 Solana (about $45 at the time), and as I write this, the lowest priced lizard is selling for 35 Solana…a 3,400% gain in less than 72 hours.
Honestly, I can’t tell you what the Lizard NFT is all about or what its utility is, assuming it even has utility.
What I can tell you is that the NFT space functions a bit like momentum-investing on Wall Street. One day, tech stocks are the belle of the ball, another day people don’t even remember Microsoft is a company because they’re all about green energy…or bio-tech…or electric vehicles…or whatever.
Same with NFTs.
Pay attention to the hot NFT property of the moment, and there are vast profits awaiting.
How do you know what’s hot…or the “meta,” as NFT investors call it?
Well, there are sites you can check and services you can use to track this stuff. If you want to learn more about how this all works, check out my NFT Profits Workshop.
At this online event, I discuss what NFTs are…why they are delivering massive gains to investors like me…how you can get involved…and the strategy I’m using to see gains like those I mentioned above.
I know lots of people want in on this world of profit opportunities, and I know the NFT space can be daunting. I went through a lot of trial and error early on.
But once you understand how NFTs work, you realize it’s no different than learning any other task. You progress up the learning curve, you become proficient, and suddenly that process is second nature to you.
Same with NFTs.
Learn about them now, while much of the world is scared of crypto volatility, and you become an early adopter who has access to huge profit opportunities like Okay Bears, Cets on Creck, Reptilian Renegade, and others that I know are launching soon.
Just whatever you do, do not listen to my son when he goads you into selling your Epic NFT for a $2,000 profit. Chances are, a $15,000 profit is just around the corner.