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Oh man, I hate to ever share this. But I jumped into the Axie Infinity thing in early 2021.
I had my brother, who is an avid gamer, and was working for me at the time as a programmer, take a deep dive into Axie to see if there was money to be made.
We figured out how to breed “floor” axies to sell at scale and were generating, at one point, 4 ETH a day. And that was when it was at ~$3000.
Problem was we were reinvesting all our profits into more Axies.
Eventually it became unprofitable to breed and we moved to hiring “scholars” Filipinos that would play for a profit share of SLP that was produced by playing and winning games.
Play to earn.
Such a scam.
I actually raised a ton of money and we had 1000s and 1000s of scholars.
SLP crashed… and the was all she wrote.
Crypto, for the most part is a big ponzi. You see inflation in real time when coins crash.
Without new money, it will always crash.
If you are buying a meme coin because you heard about it from a friend or on Reddit, you are someone else’s exit liquidity.
I would not recommend putting more than 1-5% of your net worth into Crypto.
During the 2020 mania I bought $5000 worth of Axie when it was like 50 cents. It quickly doubled to a dollar. I doubled my money! I quickly sold and thought I was a genius.
Then I watched the price pump to ~$160.
My 5 grand could have reached upwards of 800k at the top.
Crazy times.
Survived the shitcoin mania in the green.
Would never do that again.
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