Seize the Day - The Daily Gwei #428
Making money and having fun doing it.
I constantly see many people saying that they don’t think they’re “early” to crypto and that all the life-changing gains are over. This couldn’t be further from the truth - you may not be able to make 100x your money on BTC and ETH anymore (at least, not for decades) but there are plenty of opportunities elsewhere to make that life-changing money (and also have fun doing it).
You’ve all heard of MEV by now - that spooky boogeyman that has the potential to destroy blockchains - but I’m sure you’ve also been seeing just how much money people are making from this. Now, being able to extract MEV is a specialized task and requires certain skills to do it profitably (programming being a major one). Though if you’re up to the task, there’s the potential to make millions a month (yes, millions) extracting MEV from various smart contract blockchains. On top of this, the “meta-game” is always changing so it can be incredibly fun to come up with new MEV strategies as old ones either get stale or get too crowded.
An area that is much more open to everyone and that people are making an absolute killing on right now is the NFT ecosystem. In particular, the profile picture NFT ecosystem is booming as people speculate on and show off various different avatars. Like MEV extraction, speculating on NFTs can be incredibly fun because it’s all about being involved with different communities. Essentially, buying a profile picture NFT instantly makes you a member of that projects respective community and allows you to “vibe” with them on various things. Most of these projects never go further than the intial mint, but some are trying to build entire worlds around the characters and this can be quite entertaining (and rewarding!) to be involved with.
Lastly, one very rewarding way to get ahead both financially and socially is to join an early-stage crypto startup. Now, of course, most startups will fail and joining one isn’t a guaranteed road to riches, but regardless of that it is rewarding in so many other ways. As some of you know, I worked as the Product Marketing Manager at Set from mid-2019 to early 2021 and it was an amazing experience. I learnt so much about startups, shipping products people actually use, pivoting when needed, going through hard times and coming out stronger, and so much more. If you are able to, I highly recommend joining an early-stage crypto startup - you won’t regret it!
There are of course plenty of other ways to add value and get involved in the crypto ecosystem and I’m sure there will be plenty more to come in the future. Naturally, not everything you do will make you money and you’re also highly likely to lose money, but the whole point is that you can have fun doing it and learn something along the way.
So as Robin Williams said in Dead Poets Society - “Carpe diem. Seize the day!”
Have a great day everyone,
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All information presented above is for educational purposes only and should not be taken as investment advice.