I minted a bored ape NFT…
but missed out on generational wealth…
Hopefully this will be cathartic and maybe you were someone who followed a similar path so this will resonate. Strap yourself in.
I am not a wealthy man, I grew up more privileged than probably 80% of the planet’s population but we didn’t have a lot while I was growing up. My parents were young and struggled but I was lucky in other ways, they were loving, we had a home, food, clothes, treats and toys. Since then I’ve had a fairly successful career in IT, have a family of my own and consider myself comfortable and privileged.
Out of a want to become more comfortable and possibly retire from the rat race early I started researching and investing in cryptocurrencies. As a tech geek I could see the potential of Ethereum but I wasn’t “early”. I got into crypto just before the 2018 bubble and didn’t risk a lot of money. Which was fortunate as the crash/bear market of 2018 didn’t really affect me other than I knew there would be a time to invest more and started planning accordingly.
So I invested more in 2019, did ok, found some communities, got into DeFi and joined a community called DEFI OMEGA(DFIO). A token gated community of which I’m still a member with some seriously impressive, experienced and talented crypto founders/investors/people. A story for another medium article perhaps.
It was in this Telegram community that I first heard about NFTs. A member discussed how she thought they were going to be huge, I’m guessing it was late 2020. I minted some pizza thingy in March 2021 with a random wallet, (got to be safe kids!) thought it was cool, I created a profile on Opensea. An NFT marketplace, how little I realised how much further down the rabbit hole I would be in such a short time.
Now bear in mind I’m not really a collector of physical stuff, unless you count Music CDs. I don’t really buy art but this stuff felt different, so I parked it in the “Cool stuff, look into it more later.” pile of my crypto research at the time. Then there was a post in the DFIO TG, April 24th 2021.
So I aped, I minted Bored Ape #93 on April 24th 2021 at 9:05AM GMT for 0.08 Ether plus 0.01 gas. Which was worth about $200 at the time.
I’d completely forgotten about all the cipher stuff until I researched for this article. The ape revealed and it was ok, a hip-hop ape with a Fez and a Cigarette. Funny. But I didn’t really vibe with it that much and this was where a life decision was made that will likely haunt me for the rest of my days. So I got involved with the community on Twitter, the project followed me back as an early minter which was nice. I wasn’t on Discord at the time which probably led to me not being fully engaged. I wrote on the toilet wall on the website, tweeted about it, it’s such a short time ago but everything was different back then, NFTs weren’t such a big deal.
Seven days later…seven days, someone offered me 0.51 Ether for my ape. $200 invested, $1750ish offered. At that time it felt like a no-brainer, sell the ape you don’t really like for a $1400 profit. So I did and didn’t think much about it for a few weeks.
Looking back, as I did a few weeks later. (The beauty and clarity of blockchain hindsight.) The person who bought it from me sold it to “Smokita” for 0.91E later that day, a pang of regret. “Smokita” sold it to “veryboredape” for 1E and “veryboredape” has diamond handed it ever since. They even created a Twitter account for the ape. The first time I saw the account on my timeline it was like seeing an ex-girlfriend on social media pop up on your feed. It felt surreal, I remember thinking “Cool, that’s the guy that now has “my” ape.” but it wasn’t mine, it was theirs, that’s how NFTs work ser. I reached out to them on Twitter and had a brief chat, they sounded cool, I was happy someone cool sounding owned the ape.
From that point, the BAYC team created the Kennel Club and I remember thinking, I don’t like them. Then they created mutants and I remember thinking, I don’t like them and I never invested any Ether into BAYC again. Hey, I’m a serious crypto investor I don’t invest in jpegs! But it became a monster, the prices went up, I couldn’t afford to get back into the yacht club and I then spent the next year of my life looking for the next “big” NFT project and frankly, not finding it because, if we’re honest, there will never be another BAYC. I’ve found amazing projects, amazing art, great communities, I love the NFT space, love the people, love their energy and passion for creativity. Selling my BAYC was like losing a love that was a little quirky and not right for you but you still find yourself thinking about from time to time.
BAYC became a behemoth, everyone in the community slapping each other on the backs on my Twitter feed whilst I pressed my nose to the glass, whales became crypto millionaires, millionaires and celebrities started buying apes. They were everywhere and I was the schmuck that sold one and missed out. My biggest claim to fame was the author Neil Strauss, the writer of “Jenkins the Valet”, a BAYC storytelling NFT project, telling me that mine was the first Bored Ape he ever saw when I shared it in the DFIO Telegram.
It hurts, I whinge about it a lot, people comfort me that if I hadn’t sold it at 0.51, I definitely would have sold it at 2/5/10E. They’re right of course but it still hurts. The days of hurt turned into weeks of less hurt, there’ll be other projects, other investments, “you’re gonna make it” I tell myself. As I ape into another derivative.
Then Otherside happened and all the hurt came back. Otherside is like the community and technology of my dreams as a kid and I could have been a part of it but no, you got your stupid 0.51E and probably wasted that on nothing. You idiot, you had a chance at generational wealth and you fucked it up.
Since then I’ve got involved in some great derivative projects. 0xApes/Tribe gave me 0x Bored Ape NFTs which I bought because I liked them, without breaking my piggy bank. We will get our Tribe versions soon and I can’t wait. Rare APepe Yacht Club have taken off recently, mimicking their BAYC counterparts with some amazing art. I minted mine five months ago and they have a chance of becoming a blue chip project. Project Rxnegade Apes are doing something completely different in the space and I talked about them in my previous article.
So I will continue to press my nose up to the virtual glass of the BAYC community, knowing I was an OG that paperhanded one of the most successful NFT projects in history and likely ever. But I continue to research, I continue to join NFT projects and communities which excite me, especially those with metaverse plans. Nifty Island, Visitors of ImmaDegen, The DASK, Frogland to name but a few. Because the one thing that my journey so far has taught me is that NFTs are disrupting the art and creativity landscape and if you join the right project, it could be life changing for all kinds of reasons. I’ve met some amazing people since minting Bored Ape #93. Remember, money isn’t everything.
Feel free to reach out if you want to talk about this article or share thoughts on NFT projects.
Just don’t ask me about “my” Fidenza…
Addendum
It’s the 27th March 2024, almost three years to the day where all of this began. NFTs are in a huge bear market, to which even the Yacht Club is not immune. I’ve been watching the market for months and the mantra “Buy when others are fearful.” has been in my head. I finally rejoined the Yacht Club!
This guy resonated with me, I love the art and the character fits my chipm0nkey persona online.
Before this I’d picked up a couple of Otherside deeds and I’ve been in the last two trips with my son. I am very excited about how Otherside may develop. Next time, I’ll be allowed in the Yacht Club.
My first Mutant Monday will be Easter Monday, Easter being traditionally associated with rebirth and new beginnings. Feels fitting.
Let’s see where we are in another three years…
