Greed and NFTs - Getting Left With The Bag

It's Saturday morning. The news is on. In 3 days, another kid has made your entire salary. Was it really worth spending 5 years at University just to be outplayed in a game with a kid who got a lucky call on a mint?

Opensea is filled with excitement and the promise of riches beyond your wildest imaginations. You finally buy that collection you have been eyeing for several weeks. As the price rises hourly, pure euphoria sets-in. The Discord chat says, "We're going to Mars!", "The floor is lava", and "I'm holding them for at least three months." This should make you BAYC-level by then.

You can't believe how high the price has risen. Opensea emails you informing you of offers up to 3x, 4x and 5x your purchase price. You tell yourself that it will continue to pump, and there is no way it will slow down. The trade volume increases exponentially, and Steve Aoki purchases in at an inexplicable entry.

You are ready to go to bed. You get ready for bed. Tomorrow is the reveal. Remember what happened after Azuki was revealed? The future looks bright. Ferrari or Lambo? Why not both? You drift off to the most blissful sleep...

You awaken eager to refresh the Opensea tab on Safari that you have been using for 3 days.

There has been a dip.

It is natural, right? It's natural, right? Think of Azuki's. After releasing their items so freely, the paper handlers must have been in pain. This is where you are the true winner.

It's evening. The price has dropped again. The price is still up 2x, but you also know that the project was 5x just 24 hours ago. So why would it not go back up? It's better to wait for the paper-handlers to give up their items and hold on. They will soon be missing out on huge profits.

Your friends laugh at you for not selling. After all, they have every reason to be laughing at you for not selling. As the floor drops every few minutes, you are stunned. Volume is at an impasse. Your shitty NFTs are not wanted by anyone. Realize that your NFTs are useless and will not be used by anyone.

How is this possible? Your profit was 5x. This was 5x more than you would have made on any other project. So why didn't this project bring in the +500% profit? The meaning of your life is being questioned. This is real? Is this a simulation? Are we in the metaverse?

It's clear that you know what you should do but you are reluctant to take the steps. Friends offer comforting words: "It's better not to lose now", "you can win some, lose some", "there will be more wins in future". The kind words are appreciated, but scrolling through the Opensea email notifications of offer notifications feels like it's a lifetime away makes you feel the pain.

Reality sinks in, it's time for the L.

Your item is sold at the floor price. It sells in a matter of minutes to an unfortunate soul. You feel a sigh of relief. This is the most difficult loss you have ever suffered. It is not because of what Eth lost but because you knew that you had made a terrible mistake. Opensea isn't your home for five days. You have lost all confidence in yourself.

You make a call to your alpha group. It's a rug. Is God not my God?

One week later, your friends are still talking about the project that just dropped. You're still interested, even though they move on. The art is beautiful, the volume is healthy, and the whales are in on it. This could be the first step in recovery.

Take a deep inhale and lift one from the floor. You feel calm but also nervous. It's gone and you move on with your life. Before you go to sleep, you check the price. It has gone up. It's not much, but it has gone up.

You have learned your lesson the hard way. Take your profits and move on.

We're back in business.