Trifecta of making money in crypto: MEV, Buildoor, and NFT ๐งต๐
No BS; making $10m a year is not hard in crypto if you have skills + focus
1/x
No BS; making $10m a year is not hard in crypto if you have skills + focus
1/x
First, you need to understand the meaning of Asymmetric upside: the rewards are magnitude more than what you sacrifice.
Example of Asymmetry: Building Stuff, MEV, etc
Example of Symmetry: going to college, getting a job, etc
primarily, focus on Asymmetry and take risks.
2/x
Example of Asymmetry: Building Stuff, MEV, etc
Example of Symmetry: going to college, getting a job, etc
primarily, focus on Asymmetry and take risks.
2/x
Basically, you need to drop out and take risks.
misaka has seen a lot of dropouts building in web3 and making >$3m.
Never look back.
3/x
misaka has seen a lot of dropouts building in web3 and making >$3m.
Never look back.
3/x
MEV ๐คต
you can make a lot of money doing MEV. misaka wrote a post below on how only a few bots share $20m profit in the first 3 months.
This doesn't even include other forms of MEV.
4/x
you can make a lot of money doing MEV. misaka wrote a post below on how only a few bots share $20m profit in the first 3 months.
This doesn't even include other forms of MEV.
4/x
MEV consists of 4 main categories: arbitrage, liquidation, sandwich, and "Longtail".
If you run a combination ๐งญ of strategies + have some alpha, you can easily touch 7 digits a month.
5/x
If you run a combination ๐งญ of strategies + have some alpha, you can easily touch 7 digits a month.
5/x
Some strategies๐ are more competitive than others: arbitrage, liquidation
Some were/are not so competitive: CEX-DEX arb, NFT arbitrage, etc
6/x
Some were/are not so competitive: CEX-DEX arb, NFT arbitrage, etc
6/x
IMO, MEV alone is not so asymmetrically๐ rewarding because more competitions enter the space every day.
to do MEV competitively you need information asymmetry + alpha. without these, you probably would stick to 6 digits a month.
7/x
to do MEV competitively you need information asymmetry + alpha. without these, you probably would stick to 6 digits a month.
7/x
Some Examples of alpha:
Back in August - October, there was only a single bot running arbitrage on Solana, and that bot easily make 7 digits a month.
8/x
Back in August - October, there was only a single bot running arbitrage on Solana, and that bot easily make 7 digits a month.
8/x
Another Asymmetric upside
Apparently, you also get to go on a date with @Irenezhao_ if you do MEV.
10/x
Apparently, you also get to go on a date with @Irenezhao_ if you do MEV.
10/x
Buildoor ๐ฆ:
Building is the most rewarding thing to do in crypto IMO.
Capitals๐ฐ are everywhere and all you need is a community management skill + a product.
Every chain needs DEFI primitives: lending, DEX, etc
11/x
Building is the most rewarding thing to do in crypto IMO.
Capitals๐ฐ are everywhere and all you need is a community management skill + a product.
Every chain needs DEFI primitives: lending, DEX, etc
11/x
The rewards for building are especially ๐ธasymmetric when you build on a new L1 or L2 โ๏ธ.
You want to build early to those newer chains as much as possible and
Be willing to take the downside ๐ risk that those newer chains might not be successful.
12/x
You want to build early to those newer chains as much as possible and
Be willing to take the downside ๐ risk that those newer chains might not be successful.
12/x
Example:
@BastionProtocol๐ฟ was very early to make lending protocol on NEAR and It gained a lot from doing it.
13/x
@BastionProtocol๐ฟ was very early to make lending protocol on NEAR and It gained a lot from doing it.
13/x
IMO, You don't even necessarily need to do everything better than the competitor, only a few things ๐ will suffice.
14/x
14/x
Don't underestimate the power of UX, UI, Brand, and narrative either.
In crypto, rarely does a product stand out technically, most often time, it's the UI, UX, and narrative that stands out to the users.
A good example of this is ๐ธ nation and the Wonderland $TIME fork.
15/x
In crypto, rarely does a product stand out technically, most often time, it's the UI, UX, and narrative that stands out to the users.
A good example of this is ๐ธ nation and the Wonderland $TIME fork.
15/x
Additionally, if you are building in Web3 and making money on your product, please follow ๐ through on your promise.
Don't be one of those projects.
16/x
Don't be one of those projects.
16/x
NFT + Gaming ๐ฎ:
It's no secret that you can make tons of money with NFT.
The market is currently overvaluing a lot of NFTs
All successful NFT projects have 3 things in common: good art, good branding, and good utilities.
17/x
It's no secret that you can make tons of money with NFT.
The market is currently overvaluing a lot of NFTs
All successful NFT projects have 3 things in common: good art, good branding, and good utilities.
17/x
Asymmetry upside in NFT ๐จ:
The most asymmetric thing you can build in NFT space is to be the next Disney in Web3
Be a brand huge enough that people want to be associated with.
Not easy, the best way is through good art, branding, and utilities.
18/x
The most asymmetric thing you can build in NFT space is to be the next Disney in Web3
Be a brand huge enough that people want to be associated with.
Not easy, the best way is through good art, branding, and utilities.
18/x
Technical NFT founders have a lot of advantages ๐ฆ:
A lot of NFT founders are just bad technically.
Consequently, if you are a good developer you can build NFT with good utility + good art, your project will have a lot of upsides.
19/x
A lot of NFT founders are just bad technically.
Consequently, if you are a good developer you can build NFT with good utility + good art, your project will have a lot of upsides.
19/x
Perfect Example of this:
@raidparty - cool NFT with gaming utilities, party, etc.
~20m raised
@moonbirds_xyz - $66m NFT raised. cool *nesting* feature. Trying to be a Web3 brand
20/x
@raidparty - cool NFT with gaming utilities, party, etc.
~20m raised
@moonbirds_xyz - $66m NFT raised. cool *nesting* feature. Trying to be a Web3 brand
20/x
NFT MEV:
There is also a lot of money to be made with NFT MEV, arbitrage also, but that is alpha for another day
21/x
There is also a lot of money to be made with NFT MEV, arbitrage also, but that is alpha for another day
21/x
Importance of focus:
It's easy for founders to be lured to do a lot of things at the same time, but that's not the right approach.
If you focus on too many things, there is a super high chance none of what you do will be successful.
22/x
It's easy for founders to be lured to do a lot of things at the same time, but that's not the right approach.
If you focus on too many things, there is a super high chance none of what you do will be successful.
22/x
Conclusion,
There are huge upsides if you are doing things value added in web3. There are many ways to do it, but you need to focus on one thing.
end/x
There are huge upsides if you are doing things value added in web3. There are many ways to do it, but you need to focus on one thing.
end/x
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