I invested 1,400 yuan in the Metaverse for the boring ape NFT, and now I can earn 1.08 million

Metaverse dividends, torn between luck and experience.

“It was the first time I spent 300 yuan to experience the trading process, and the next day I cleared my A shares.”

Talking about the rather radical moves in 2017 when he first entered the industry, Lin Yi seemed very relaxed, “After Stud saw ETH (Ethereum) fell from 6,000 to 600 (yuan), it was all rounded up and lost.”

Before he became a full-time blockchain investor, Lin Yi used to work in the operation of Internet companies, and also engaged in financing in the real estate market. All his work was related to money-now holding the remaining money from A shares, Roaming the Metaverse.

However, Lin Yi’s first experience of the blockchain, like the price of Bitcoin, is full of carnival and ups and downs. He has paid “tuition fees” in the currency circle, and he has also made a lot of money in NFT projects – before in the stock market, Lin Yi was a Cautious investor; his investing style has become aggressive and at times unnerving after he got into the blockchain.

Until he made money, he returned to caution. Looking back, everything derived from blockchain technology is full of the temptation and danger of money.

He said sometimes it depends on luck. But in the Metaverse, his most successful investment is still based on experience – the dividends of cryptocurrencies and NFTs, which have been hovering between the two.

It depends on luck

Throughout 2017, the blockchain was immersed in the carnival of the currency circle: the price of Ethereum skyrocketed in the trading market, from $8.47 on January 1st to $881.94 – the market is full of enthusiasm for making money – – Lin Yi was moved.

Although he claims to be a “radical investor”, he is still cautious in investing in digital currency. He only invested 300 yuan for the first time. After 30 minutes of experimentation, he made dozens of yuan and ran out.

But Lin Yi firmly believes that digital currency is a good market: “It is very clear to win or lose, unlike in the stock market, where the loss is unclear.”

After that, he began to wander around the currency circle – looking at the market, looking for analysis everywhere. In 2018, the domestic blockchain and digital currency information was mixed. In order to keep up with the market, Lin Yi changed his schedule, sometimes changing to UTC time, sometimes US Eastern time, or even Middle East time.

“I have to follow the time provided by the project party. The currency price is irregular and life is irregular.”

Even though he followed the market, Lin Yi did not make any money from the digital currency market.”The only thing that was “stable” at that time was not making money. Although digital currency was not regulated at that time, it was also based on the market. Everyone lost money in the bear market. In 18 years, almost no one made money. , the curve of Ethereum is proof that many projects can drop by 50% in one day.”

The days of losing money were described by him as a history of blood and tears, and he lost to the doubtful life-the 300,000 yuan drawn from A-shares lost most of them in those years: “The first few investments were all cannon fodder.”

I invested 1,400 yuan in the Metaverse for the boring ape NFT, and now I can earn 1.08 million

Figure/The price of Ethereum in 2018

He has thus gained experience: the line depends on luck.

When times are tough, good luck comes from persistence. Even if he loses money, Lin Yi is still looking at the market and looking for projects. Sometimes he buys a bit of the right project. It has been three years since he made a profit and lost. On the digital currency called Cosmos and uniswap, the first The “luck” of a pot of gold is long overdue.

He was still as cautious, “Cosmos invested 1,000 yuan, and uniswap only invested 100 yuan” – like breaking a dollar in half and putting it into different baskets, but this time the harvest is different.

On Lin Yi’s active blockchain, Cosmos and uniswap quickly broke the circle like a mystery. No one knows why, but the huge leverage has played a role, and Lin Yi seems to feel a kind of small and broad power surging. , he added up to less than 2,000 yuan of bets, which became more than 100,000 between one in and one out.

In the currency circle, Lin Yi made money.

By virtue of this lying profit, Lin Yi can also talk like a big guy in the currency circle:

It is very important to choose the right target. If the target is right, it can be turned over with a small amount of money . There are many examples of investing a few thousand yuan and earning hundreds of thousands of dollars. Of course, there are many losses. I also bought some hot spots. Altcoins, a few lost, and some were fired up inexplicably, the highest more than 50 times.”

The days of being in the currency circle are not sunny. After all, investment needs a sense of security. When Lin Yi turned left and right between profits and losses, another blockchain project, NFT, came.

Because the Metaverse is here.

“The Boring Ape” and 1.08 million

Once again, Lin Yi stepped on the thunder when he entered the pit.

At first, when he looked at the NFT circle with the money he earned from the currency circle, he found that the myth appeared again.

Cryptopunk (NFT, hereinafter referred to as punk) is one of the earliest NFT projects. It is an avatar composed of pixels. It was sold in a group of nine at a Christie’s auction for $16.962 million (about 109 million yuan). A single The transaction price of Punk once reached 7.58 million US dollars, which is basically unreachable by players in the secondary market.

Although this makes Lin Yi smell money, the concept of NFT is too floating.

According to Lin Yi, the Metaverse contains three things: money, life, and matter. Money is the digital cryptocurrency, life is the player involved, and all the remaining items are NFTs.“Tables, chairs and benches are NFTs, firewood, rice, oil, and salt are NFTs, and all substances such as land and houses are NFTs,” Lin Yi said. “The premise is that they are in the Metaverse.”

Even these NFT substances have imitations-Cryptopunk is imitated.

I invested 1,400 yuan in the Metaverse for the boring ape NFT, and now I can earn 1.08 million


Lin Yi discovered the NFT project with the same name as “Cryptopunk” in a certain blockchain. The experience of speculating in coins told him that this punk is like a “cottage”, and it is likely to be a fake, but he also immediately realized that the copycat Punk is easy to cut leeks, and it may bring a high return on investment.

So I smashed more than 100 US dollars to try the knife, but Lin Yi did not wait for the return after all. Since the producer has given up the NFT of this cottage, there is no way to sell the NFT in the market and no one takes the order. The last drop of 100 US dollars is only two Three bucks.

But at this time Lin Yi was already a full speculator. “When I bought it, I also knew that punk was imitation, and the chain was wrong. The real punk was in Ethereum, but the speculation was too heavy.”

But after all, this is not the first time that Lin Yi has overturned the car. With $100 to buy a lesson, he also understands that this is not the last time.

However, after paying tuition fees, Lin Yi will prefer NFTs supported by well-known institutions , such as a16z, Binance, and Goldman Sachs. “Some high-quality projects can be done without capital participation, relying on market consensus and the operation of the development team, but not too many.”

Consensus, capital and operation are all fundamentals for Lin Yi to consider whether an NFT is of high quality. Soon, a high-quality NFT project will come – in April 2021, the NFT of Boring Ape will be publicly released.

At the beginning of the release, the subscription price of the boring ape on the official website was reasonable, but with the news of some capital intervention and celebrity purchases, the price of the boring ape in the secondary market began to skyrocket after the official website was sold out. By April 27, 2021, the lowest price of Boring Ape NFT has reached 147 Ethereum (an encrypted digital currency), which is about 420,000 US dollars.

Lin Yi subscribed for a boring ape NFT through the official website. At that time, the subscription price on the official website was still maintained at the issue price of 0.08 Ethereum (about 200 US dollars). “Buying the boring ape is about 1,000 yuan, plus a handling fee of about 400. “

I invested 1,400 yuan in the Metaverse for the boring ape NFT, and now I can earn 1.08 million

Figure / The Boring Ape held by Lin Yi

Photo courtesy of the interviewee

Now, the price of a boring ape NFT in the secondary market has exceeded 80 Ethereum. According to the issue price at that time and the current price of Ethereum, at present, if he sells this NFT, he can pocket 1.08 million.

But it’s not over yet. Lin Yi has not sold the priceless boring ape in his hand.

“The potential should not be fully released,” he said.

Metaverse “money worshipers”

Lin Yi’s story of making money on the blockchain does sound like a myth.

But more than that.

In March 2022, the Boring Ape project party gave users who held the Boring Ape NFT a “dividend” worth tens of thousands of dollars. Lin Yi said how much he would share. He said: The specific number is inconvenient to disclose.

But in his experience, similar projects are still seen a lot in the blockchain. He made an analogy: it may be more exciting than buying land in Shenzhen 30 years ago, after all, funds from all over the world have the opportunity to enter and exit. There are risks and opportunities.

He also reminded latecomers that the tuition fee is inevitable for newcomers to enter the industry, “more or less.”

Because he has paid tuition fees, when he faces the temptation of returns brought by different blockchain projects, his investment sentiment has now returned to being cautious and perverse.

“In the Metaverse, the general direction depends on the choice of VCs. Personally, don’t start new, and don’t speculate. The first reaction of many people when they mention NFT in the past two years is the avatar category, which is easy to understand and see. But if this type of project is not a head project, it is easy to get caught. From a technical point of view, the development cost of land-based NFT is high and the cycle is long, and the project party usually wants to do business, rather than run away by cheating money.”

“This is why NFTs such as avatars and commemorative coins are more prone to explosions. They are just pictures on the chain.”

Perhaps because he made money, Lin Yi chose to believe in the concept of the Metaverse.”Conservatively speaking, the next 30 years must be dominated by the Metaverse.”

He even thinks that the Metaverse will eventually take shape, and the reason for attracting the public is the redistribution of wealth brought about by this ecology. And generally, the Metaverse is thought of as a game or just a game — it’s one of the few Metaverse products that gives users a sense of survival, easy to pick up, and easy to understand.

But he said: Gaming and VR are not the beginning of the Metaverse.

“Games are by no means what Metaverse developers want. If the Metaverse can take shape, it must be because a platform has built a complete and large-scale financial system and transaction ecology, allowing players to P2E (play to earn, by participating in the Metaverse). The universe gets revenue).”

This seems a bit metaphysical and a bit idealistic. You know, in the vast Metaverse, risks are still everywhere.

Lin Yi said that among all the NFTs he trades, high-quality projects only account for about 30% or even less. “In all NFTs, it is enough for 10% of the projects to make money. The value of 10% of the NFTs is recognized, and it is enough to cover the cost.

In fact, Lin Yi is more like a “Metaverse money worshipper”, he does earn enough money, so in the Metaverse he describes, money is paramount.

“Players can create wealth even without a next-generation headset. The Metaverse develops around technology, not concepts, around cryptocurrencies and NFTs. The focus of technology is not imaging, but finance.

Note: This article is only for discussion of phenomena and does not constitute any investment advice

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/i-invested-1400-yuan-in-the-metaverse-for-the-boring-ape-nft-and-now-i-can-earn-1-08-million/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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