It's a heck of a view!
Once upon a time there was this average everyday guy that started doing some blogging on a blockchain based social media platform. When I say "average everyday" I really mean it. Middle America, 9 to 5 job, weekends off mortgage, truck payment, maybe one or two other loans, you know the deal.
About a year ago, that social media platform became a virtual dumpster fire, Hive was born and his focus shifted over to that. We all know this story.
Many of us moved that other token over to Hive. I did myself for a while until the exchange rate became less favorable to do so. Many of you continued to exchange, I turned my attentions elsewhere while still posting on Hive and then eventually Leo.
I still focused on crypto, but instead of Hive, the majority of my holdings from "you know where" went into BTC and another token called WAX. At the time, the price of WAX was right around $.03 to $.06 so I was able to pick up a decent amount of the token.
WAX is a blockchain that is built on the EOSIO software and is made specifically for NFTs. Like any dedicated WAX holder, I used a good portion of that WAX to pick up NFTs from various projects. They sat in my account relatively benign for most of 2020.
Then, December 2020 happened and everything started to blow up in crypto. That as carried on until where we are at today. One of those NFT projects I jumped into is called Alien Worlds. It has quickly risen to be the top dapp game in the world according to DAPPradar (looks like it dropped to #2 now).
Anyway, through a series of fortunate events concerning the listing of the in-game TLM token (read my other posts for that) things have skyrocketed. It was one of the hardest decisions I have ever had to make, but I finally made the choice to sell a piece of Alien Worlds land the other day.
The amount I got for it isn't important. Given the transparent nature of blockchain, you can probably find out if you really want to do the digging. What is important is the fact that thanks to the series of events above, excluding my mortgage, I am now on the brink of being debt free.
By the middle of next week about 60% of my sale will be moved into my traditional account and I will begin the process of paying off all of my outstanding debt.
It wasn't without some loss though. I have zero doubt that the price of that piece of land will continue to go up. Perhaps even 2x or 3x at some point. For all I know it could crash, so I had to take the win right?
Getting WAX over to fiat is not a quick or easy process. I had to send it to Bittrex, then sell the WAX for BTC, move that BTC to Coinbase and then from Coinbase I could send it to my bank account.
I lost about $500 between "slippage" and fees. That includes the horrendous $360 fee Coinbase charged to convert from BTC to USD. I also have the tax man to deal with and I am expecting a hefty amount of about $10,000 will be heading their way at some point.
I have always said, if I get a big win in crypto, I am more than happy with the government taking their cut. I still feel that way, but dang, it is just a punch in the gut you know? I might have to figure out something different for when I move the rest of the money or as @taskmaster4450le predicts, when I have my next "win" in crypto.
This is definitely a crazy feeling. It reminds me of when you go the eye doctor and they flip back and forth between the 20 different lenses and ask you which one looks clearer. I can definitely see a bit more clearly now!
This isn't financial advice, and I am not saying everyone will have the same results. I am not even saying that NFTs are the answer (I honestly think the fad will mellow out in due time), but I do encourage you to take a gamble on that project you have been looking at. It could change your life.
Sports Talk Social - @bozz.sports
@eos.detroit Staff Writer/BOID Team Leader
All pictures taken by myself or @mrsbozz
Posted Using LeoFinance Beta
